59-1952.

§59-1952.


    A.  No person shall engage in business as a rental-purchase
lessor without first obtaining a license issued by the Administrator.
Each license shall state the address of the office from which
business is to be conducted and the name of the licensee. The license
shall be displayed at the place of business named in the license.
The license shall not be transferable or assignable except upon
approval by the Administrator.  A separate license shall be required
for each office operated pursuant to the Oklahoma Rental-Purchase
Act.  The Administrator may issue more than one license to any one
person upon compliance with this section as to each license.  This
subsection shall not be construed to require a license for any place
of business devoted to accounting or other record keeping and where
rental-purchase agreements are not made.
    B.  Each person shall file a license application form with the
Administrator within thirty (30) days prior to commencing business in
this state for each place of business in which rental-purchase
agreements are transacted, and thereafter, by December 1st of each
year. The license application must state:
    1.  The name of the person;
    2.  The name in which business is transacted if different from
paragraph 1 or 3 of this subsection;
    3.  The address of the principal office;
    4.  An indication that the lessor engages in the business of
making rental-purchase agreements;
    5.  The address of the designated agent upon whom service of
process may be made in this state; and
    6.  Such other relevant information as the Administrator may
desire.
    C.  If information in an application becomes inaccurate after
filing, modifications to the application shall be brought to the
attention of the Department of Consumer Credit within thirty (30)
days from such change.
    D.  The license application shall be on a form or forms provided
by the Administrator.