{"data":{"id":"us-ok/okla.-stat.-tit.-59-59-3150.3","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 59, § 59-3150.3","heading":"Applicant requirements","body":"A. An applicant for a license to make small loans shall meet\n\nthe following requirements:\n\n1. A tangible net worth that comprises tangible assets, less\n\nliabilities, of not less than Fifty Thousand Dollars ($50,000.00)\n\nfor each location; and\n\n2. The financial responsibility, financial condition, business\n\nexperience, character and general fitness of the applicant shall\n\nreasonably warrant the belief that the applicant's business shall be\n\nconducted lawfully, honestly, carefully and efficiently. In\n\ndetermining whether these qualifications have been met and for the\n\npurpose of investigating compliance with this act, the Administrator\n\nof the Department of Consumer Credit may review and approve:\n\na. the business records and the capital adequacy of the\n\napplicant,\n\nb. the competence, experience, integrity and financial\n\nability of any person who is a director, officer, a\n\nshareholder with ten percent (10%) or more shares of\n\nthe applicant, or a person who owns or controls the\n\napplicant, and\n\nc. any record of the applicant or any person referred to\n\nin this act for any criminal activity, fraud or other\n\nact of personal dishonesty; any act, omission or\n\npractice that constitutes a breach of a fiduciary\n\nduty; or any suspension, revocation or removal by any\n\nagency or department of the United States or any\n\nstate, from participation in the conduct of any\n\nbusiness.\n\nB. The Administrator shall periodically review the licensee's\n\ncompliance with subsection A of this section.","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":"8e7342829938e3b7e4bb70efffa8d495f35bc26a17e34d2558cf52b32f589b2c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-59-59-3150.27","next":"us-ok/okla.-stat.-tit.-59-59-3150.4"},"notice":"GroundRules: Original legal text. Not legal advice."}