{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-3-506","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-3-506","heading":"Examination of licensees - Access to records -","body":"Investigations.\n\n(1) At such times as the Administrator of Consumer Credit shall\n\ndeem necessary, the Administrator or a duly authorized\n\nrepresentative shall make an examination of the place or places of\n\nbusiness of each licensee and shall inquire into and examine the\n\nloans, transactions, books, accounts, papers, correspondence, and\n\nrecords of such licensee insofar as they pertain to the business\n\nregulated by this title. In the course of such examination, the\n\nAdministrator or the duly authorized representative shall have free\n\naccess to the office, place of business, files, safes and vaults of\n\nsuch licensee, and shall have the right to make copies of such\n\nbooks, accounts, papers, correspondence and records. The\n\nAdministrator or the duly authorized representative may, during the\n\ncourse of such examination, administer oaths and examine any person\n\nunder oath upon any subject pertinent to any matter about which the\n\nAdministrator is authorized or required by this title to consider,\n\ninvestigate, or secure information. Any licensee who shall fail or\n\nrefuse to let the Administrator or the duly authorized\n\nrepresentative examine or make copies of such books, or other\n\nrelevant documents shall thereby be deemed in violation of this\n\ntitle and such failure or refusal shall constitute grounds for the\n\nadministrative action against such license. The information\n\nobtained in the course of such examination shall be confidential.\n\nEach licensee shall pay to the Administrator an examination fee.\n\nThe Administrator may require payment of an examination fee either\n\nat the time of initial application, renewal of the license, or after\n\nan examination has been conducted.\n\n(2) For the purpose of discovering violations of this title or\n\nof securing information required hereunder, the Administrator or a\n\nduly authorized representative may investigate the books, accounts,\n\npapers, correspondence and records of any licensee or other person\n\nwhom the Administrator has reasonable cause to believe is violating\n\nany provision of this title whether or not such person shall claim\n\nto be within the authority or scope of this part. For the purpose\n\nof this part, any person who advertises for, solicits or otherwise\n\ncommunicates a willingness to make loans on which the loan finance\n\ncharge exceeds ten percent (10%) per year as determined according to\n\nthe provisions on loan finance charges for consumer loans, Section\n\n3-201 of this title, shall be presumed to be engaged in the business\n\nof making supervised loans.\n\n(3) Each licensee shall keep or make available in this state\n\nsuch books and records relating to loans made under this title as\n\nare necessary to enable the Administrator to determine whether the\n\nlicensee is complying with this title. Such books and records shall\n\nbe consistent with accepted accounting practices.\n\n(4) Each licensee shall preserve or make available such books\n\nand records in this state relating to each of its loans for four (4)\n\nyears from the date of the loan, or two (2) years from the date of\n\nthe final entry made thereon, whichever is later. Each licensee's\n\nsystem of records shall be accepted if it discloses such information\n\nas may be reasonably required under this title. All obligations\n\nsigned by borrowers shall be kept at an office in this state\n\ndesignated by the licensee, except when transferred under an\n\nagreement which gives the Administrator access thereto.\nfrom the date of\n\nthe final entry made thereon, whichever is later. Each licensee's\n\nsystem of records shall be accepted if it discloses such information\n\nas may be reasonably required under this title. All obligations\n\nsigned by borrowers shall be kept at an office in this state\n\ndesignated by the licensee, except when transferred under an\n\nagreement which gives the Administrator access thereto.\n\n(5) Each licensee shall, annually on or before the first day of\n\nMay, file a report with the Administrator setting forth such\n\nrelevant information as the Administrator may reasonably require\n\nconcerning the business and operations during the preceding calendar\n\nyear for each licensed place of business conducted by such licensee\n\nwithin the state. Such report shall be made under oath and shall be\n\nin the form prescribed by the Administrator, who shall make and\n\npublish annually a consolidated analysis and recapitulation of such\n\nreports, but the individual reports shall be held confidential.\n\nThere shall be a late fee for any annual report received after May\n\n1.\n\n(6) The Administrator may promulgate rules necessary for the\n\nenforcement of this title and consistent with all of its provisions.\n\nBefore adopting a rule the Administrator shall give every licensee\n\nat least twenty (20) days' written notice of a public hearing,\n\nstating the time and place thereof and the terms or substance of the\n\nproposed rule. At the hearing, any licensee or other person may be\n\nheard and introduce evidence, data, or arguments or place the same\n\non file. The Administrator shall adopt and promulgate every rule in\n\nwritten form stating the date of adoption and the date of\n\npromulgation. A copy of every rule shall be mailed to each licensee\n\nprior to the effective date.\n\n(7) On application of any person and payment of the costs\n\ntherefor, the Administrator shall furnish under the Administrator’s\n\nseal and signed by the Administrator or an assistant, a certificate\n\nof good standing or a certified copy of any license, rule or order.\n\n(8) Any transcript of any hearing held by the Administrator or\n\nthe independent hearing examiner under this title shall be a public\n\nrecord and open to inspection at all reasonable times.\n\n(9) Upon failure without lawful excuse to obey a subpoena or to\n\ngive testimony and upon reasonable notice to all persons affected\n\nthereby, the Administrator or a representative may apply to a court\n\nfor an order compelling compliance, as provided by the\n\nAdministrative Procedures Act.\n\n(10) There shall be assessed, in addition to any other\n\npenalties provided for by law, an administrative service fee for\n\neach check returned to the Department of Consumer Credit or any\n\nagent thereof by reason of the refusal of the bank upon which such\n\ncheck was drawn to honor the same. However, the fee provided in\n\nthis subsection shall not be assessed for any check returned because\n\nof \"insufficient funds\" unless the check has been presented to the\n\nbank two times and payment declined by the bank.","path":["OK Code","Title 14A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os14A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"48ab910bde1bdbe6943e3e857b434c97f6d0f27949ec6a99399567f4f16686f2","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-3-505","next":"us-ok/okla.-stat.-tit.-14a-14a-3-507"},"notice":"GroundRules: Original legal text. Not legal advice."}