{"data":{"id":"us-ok/okla.-stat.-tit.-59-59-3114","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 59, § 59-3114","heading":"Examination of locations, loans, records, etc. -","body":"Assessments - Investigation of possible violations - Orders\n\ncompelling compliance.\n\nA. 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 all licensed locations\n\nof each licensee and shall inquire into and examine the loans,\n\ntransactions, books, accounts, papers, correspondence and records of\n\nthe licensee insofar as they pertain to the business regulated by\n\nthis act. In the course of the examination, the Administrator or a\n\nduly authorized representative shall have free access to the office,\n\nplace of business, files, safes and vaults of the licensee, and\n\nshall have the right to make copies of the books, accounts, papers,\n\ncorrespondence and records. The Administrator or a duly authorized\n\nrepresentative may, during the course of the examination, administer\n\noaths and examine any person under oath on any subject pertinent to\n\nany matter about which the Administrator is authorized or required\n\nby this act to consider, investigate or secure information. Any\n\nlicensee who shall fail or refuse to let the Administrator or a duly\n\nauthorized representative examine or make copies of the books, or\n\nother relevant documents shall be deemed in violation of this act\n\nand the failure or refusal shall constitute grounds for\n\nadministrative action against the licensee. The information\n\nobtained in the course of the examination shall be confidential.\n\nEach licensee shall pay to the Administrator an amount assessed by\n\nthe Administrator to cover the direct and indirect cost of the\n\nexamination and a proportionate share of general administrative\n\nexpense, not to exceed Three Hundred Dollars ($300.00) for each\n\nlocation; provided, however, that for any examination which lasts in\n\nexcess of eight (8) hours, the Administrator shall charge an\n\nadditional fee of Fifty Dollars ($50.00) per hour for each examiner\n\nrequired to complete the examination; provided, further, that the\n\nAdministrator may waive the examination fee for any examination\n\nwhich takes one (1) hour or less. If an examination fee is due and\n\nis not paid on completion of an examination, the Administrator shall\n\nbill the licensee, and there shall be a late fee of Fifty Dollars\n\n($50.00) if the amount due is not received within thirty (30) days\n\nof the invoice date.\n\nB. For the purpose of discovering violations of this act or of\n\nsecuring information required under this act, 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 in\n\nviolation of any provision of this act whether or not that person\n\nshall claim to be within the authority or scope of this act. For\n\nthe purpose of this subsection, any person who advertises for,\n\nsolicits or otherwise communicates a willingness to make deferred\n\npayment loans shall be presumed to be engaged in the business of\n\nmaking deferred deposit loans.\n\nC. Every licensee shall maintain on file with the Administrator\n\na written appointment of a resident of this state as the agent for\n\nservice of all judicial or other process or legal notice, unless the\n\nlicensee has appointed an agent under another statute of this state.\n\nIn case of noncompliance, such service may be made on the\n\nAdministrator.\n\nD. Each licensee shall keep or make available in this state the\n\nbooks and records relating to loans made under this act as are\n\nnecessary to enable the Administrator to determine whether the\n\nlicensee is complying with this act. The books and records shall be\n\nmaintained in a manner consistent with accepted accounting\n\npractices.\n\nE. Each licensee shall preserve or make available its books and\n\nrecords in the state relating to each of its loans for four (4)\ne\n\nbooks and records relating to loans made under this act as are\n\nnecessary to enable the Administrator to determine whether the\n\nlicensee is complying with this act. The books and records shall be\n\nmaintained in a manner consistent with accepted accounting\n\npractices.\n\nE. Each licensee shall preserve or make available its books and\n\nrecords in the 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 its information\n\nas may be reasonably required under this act. All deferred deposit\n\nloan agreements and notices of cancellation signed by debtors shall\n\nbe kept at an office in this state designated by the licensee,\n\nexcept when transferred under an agreement which gives the\n\nAdministrator access to the agreements.\n\nF. Each lender 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 place of business conducted by such lender. Such\n\nreport shall be made under oath and shall be in the form prescribed\n\nby the Administrator, who shall make and publish annually a\n\nconsolidated analysis and recapitulation of such reports, but the\n\nindividual reports and their contents shall be held confidential.\n\nThere shall be a late fee of Twenty-five Dollars ($25.00) for any\n\nannual report received after May 1.\n\nG. Any transcript of any hearing held by the Administrator or\n\nan independent hearing examiner under this act shall be a public\n\nrecord and open to inspection at all reasonable times.\n\nH. On failure without lawful excuse to obey a subpoena or to\n\ngive testimony and on reasonable notice to all persons affected, the\n\nAdministrator or a representative may apply to a court for an order\n\ncompelling compliance, as provided by the Administrative Procedures\n\nAct.","path":["OK Code","Title 59"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os59.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"f7b233e234a8a6951b799681c87e70182f9ee32cc8c0b8c6ce4203568a09fefe","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-59-59-3113","next":"us-ok/okla.-stat.-tit.-59-59-3115"},"notice":"GroundRules: Original legal text. Not legal advice."}