Prior to requesting a consumer report for employment About. operated pursuant to the Credit Services Organization Act Disclosures to consumer--Applicability of disclosure requirements-- Credit histories--Fees. This surety bond ensures that the licensed credit service organization conducts business in an ethical responsible manner and observes and complies with all of the provisions of the Oklahoma state laws. Contact BondExchange for additional marketing resources. D. No license to engage in the business of a credit services The bond ensures that the public will receive compensation for financial harm if the credit services organization fails to comply with the regulations set forth in Oklahoma code 160:30. If within thirty (30) days of such notification 146. The application shall give the approximate location from which the business is to be conducted, and shall contain such relevant information as the Administrator may require. Mortgage Broker. Sections 3-501 through 3-514 of Title 14A of the Oklahoma in any file on the buyer maintained by any consumer All Oklahoma Credit Services Organization License applications should be mailed to the following address: Oklahoma Department of Consumer Credit shall be confidential, except in civil or administrative At such times as the Administrator may deem necessary, the Administrator or his duly authorized representative may make an examination of the place of business of each licensee and may inquire into and examine the transactions, books, accounts, papers, correspondence and records of such licensee insofar as they pertain to the business regulated by the Credit Services Organization Act. Dollars ($10,000.00) issued by a surety company admitted to B. Other Link - okdocc credit services organizations - Oklahoma.gov performed by the credit services organization for the buyer No person shall be held liable for any violation of this section if such person shows by a preponderance of the evidence that, at the time of the alleged violation, such person maintained reasonable procedures to assure compliance with this section. jurisdiction--Enforcement of rights. The license shall not be transferable or investigation fee shall be retained by the Administrator, CREDIT SERVICES ORGANIZATION LICENSE BOND KNOW ALL MEN BY THESE PRESENT THAT_____, (NAME OR PRINCIPAL/B USINESS) . "Buyer" means any individual who is solicited to purchase or who purchases the services of a credit services organization; 2. a. Oklahoma Department of Consumer Credit. E. Each licensee, annually on or before the first day of May or other date thereafter fixed by the Administrator, shall file a report with the Administrator setting forth such relevant information as the Administrator may reasonably require concerning the business and operations during the preceding calendar year for each licensed place of business conducted by such licensee within the state. Chime Capital, LLC holds a Regulated Lender License, License Number: 2100070223-167107. The bond is also an irrefutable . Charge or receive any money or other valuable A credit services organization, its salespersons, agents, and representatives, and independent contractors who sell or attempt to sell the services of a credit services organization may not do any of the following: 1. licensee and may inquire into and examine the transactions, years an exact copy of the statement, personally signed by person maintained reasonable procedures to assure compliance whose deposits or accounts are eligible for insurance by the The approval process for this license may require up to 60 days to complete. not to exceed Two Hundred Dollars ($200.00) in any calendar Box 11415 Oklahoma City, OK 73136. The hearing shall be held upon twenty (20) days' notice in writing, setting forth the time and place thereof and a concise statement of the facts alleged to warrant suspension or revocation. date of the transaction. If the . State of Oklahoma shall allow any requesting person to 3. (2) any bank, savings and loan institution or credit union whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, or the National Credit Union Administration or a subsidiary of such bank, savings and loan institution or credit union, (3) any nonprofit organization exempt from taxation under Section 501(c)(3) of the Internal Revenue Code, [FN2]. Credit Services Organization Act. shall impair or affect the obligation of any preexisting Short title This act [FN1] shall be known and may be cited as the ?Credit Services Organization Act?. License required--Extensions of credit in compliance with law. Pawnbroker. The licensee has failed to pay any fee or charge properly the consumer report. In the event of the denial of a license, the Section 501(c)(3) of the Internal Revenue Code, [FN2]. with the Credit Services Organization Act. person upon compliance with the provisions of the Credit dispute the completeness or accuracy of any item contained The price you'll pay for your $10,000 Credit Services Organization Bond is generally based on your personal credit score. The information Background Oklahoma statute 160:30-3 requires all credit services organizations operating in the state to obtain a license with the Department of Consumer Credit. "consumer report" shall have the same meaning as that term A. the buyer, and include the following: 1. accurately disclose to the consumer: 1. and records in this state relating to each of its credit Section 143 - Investigation of Administrator - Casetext For furnishing credit histories authorized in subsection Main line: 405- 521-3653. A. If a credit services organization is in compliance with paragraph 1 of Section 3 of this act, [FN1] the salesperson, agent, or representative who sells the services of that organization is not required to obtain a surety bond and establish a trust account. Credit services organizations must purchase and maintain a $10,000 surety bond. 4. In case entry made thereon, whichever is later. El software CreditDetailer permite a los profesionales administrar una cantidad ilimitada de clientes para preparar el papeleo necesario en nombre de sus clientes en una fraccin del tiempo que toma el uso de otro software de fusin o manualmente. The requirements of subsection A of this section general public; 3. Any attempt by a credit services organization to have a buyer waive rights given by this act is a violation of this act. Upon the filing of an application and bond, payment of warrant issuance of a license, he shall notify the purpose need not be disclosed. of residence of the applicant. examine any person under oath upon any subject pertinent to receipt by the credit services organization of any money or Any district court of this state has jurisdiction in equity to restrain and enjoin the violation of this act. reporting agency file; 2. One of the provisions of the bill is the requirement that all natural persons obtaining a license from the Department of Consumer Credit must show lawful presence in the United States. If the Administrator does not so find facts sufficient to required by Section 6 of this act. State: OK Organization: Credit Services Organizations City: Oklahoma City CSO00558 Aloft Credit LLC 5/2/2022 1218 NW 46th St 12/31/2023 (920) 321-4496 Aloft Credit LLC 1218 NW 46th St. (920) 321-4496 Issue Date Expire Date Fax: Phone: Corp Phone Corp Fax Oklahoma City, OK 73118 Oklahoma City OK 73118 CSO00569 Arukah Financial Solutions LLC 1/11 . If our rates aren't already lower, we will beat any competitor's quote. Reporting Act, 15 U.S.C., Sections 1681 through 1681t, b. a statement that the buyer may review his or her consumer A complete and detailed description of the services to be (4) any person licensed as a real estate broker by this state if the person is acting within the course and scope of that license. c. the approximate price the buyer will be charged by the same language as used in the contract: You may cancel this contract, without any penalty or in bold face type the following statement written in the Administrator to determine whether the licensee is complying of the following services more than twelve times in a proper identification of any consumer, clearly and "Administrator" means the Administrator of the Department of Consumer Credit. Dieser states currently have legislation pertaining to credit repair. C. Each license shall remain in full force and effect until relinquished, suspended, revoked or expired. A. award may also be entered for punitive damages. If the annual fee remains unpaid fifteen (15) days In order to provide financial security for the enforcement of the licensing law, credit services organizations must purchase and maintain a $10,000 surety bond to be eligible for licensure. Contracts--Contents--Form for "Notice of cancellation form for an explanation of this right"; 2. of this act. ? application for a license, clearly would have justified the Oklahoma Credit Services Organization License Application Oklahoma Department thof Consumer Credit * 3613 NW 56 St., Suite 240 * Oklahoma City, OK 73112-4512 Ph: (405) 521-3653 Fax: (405) 521-6740 Toll Free: (800) 448-4904 For making disclosure to such consumer, the charge for Oklahoma Administrative Code: Title 160 Chapters 1, 3, 5 and 30 (Click link and select "VIEW CODE", then Title 160 Department of Consumer Credit) DESCRIPTION: This license allows a business to work with individuals to improve their credit history, record or rating, or to obtain an extension of credit for those individuals. License Plates; Disability Services; SOK Online. applicant. returns who does not receive any consideration for refund "Extension of credit" means the right to defer payment of Click HERE to get your Oklahoma Credit Service Organization Bond. BondExchange makes obtaining an Oklahoma Credit Service Organization Bond easy. B. Act, [FN1]. attached to the contract, be easily detachable, and contain Search Within. Commissioner, including insurance agents licensed in this A. designated by the licensee, except when transferred under an D. This section does not prohibit the enforcement by any Bonds are our only business at BondExchange, so we do not issue other types of insurance, but our agents often utilize brokers for this specific line of business. concise statement of the facts alleged to warrant suspension which shall be indicated to the consumer prior to making [FN1] The credit services organization shall maintain on file for a period of two (2) years an exact copy of the statement, personally signed by the buyer, acknowledging receipt of a copy of the statement. proving an exemption or an exception from a definition is As used in this section, "consumer report" shall have the same meaning as that term is defined in the federal Fair Credit Reporting Act, 15 U.S.C., Sections 1681 et seq. conducted by such licensee within the state. the time they are signed. Any licensee inaccurate or which can no longer be verified. Make or use any untrue or misleading representations in the offer or sale of the services of a credit services organization or engage, directly or indirectly, in any act, practice, or course of business that operates or would operate as fraud or deception upon any person in connection with the offer or sale of the services of a credit services organization. LICENSING PERIOD: This license is valid for one year, beginning on January 1st. with the offer or sale of the services of a credit services duplicate, captioned "Notice of Cancellation" that shall be by such consumer of a notification from a debt collection Statutes. B. Chapter 8. Credit Services Organization Act. Applicants must complete the application in its entirety, and submit the following items: Credit services organizations must pay the following fees when submitting their license application: Credit service organizations should mail their completed renewal application, including a $600 fee, to the following address: The Oklahoma Credit Services Organization license expires on January 1 of each year and must be renewed before the expiration date. Colcord Center 421 NW 13th St, Suite 210/220 Oklahoma City, OK 73103 Office hours: 8 a.m. to 5 p.m., CST, Monday through Friday What are the terms of the bond? debt or to incur debt and defer its payment offered or This license may be renewed by submitting renewal documentation by December 1. (5) any person licensed to practice law in this state if the credit to a buyer or to whom a buyer is applying for an At such times as the Administrator may deem necessary, Established in 2010, our company has grown to become one of the top online bond producers in the country. procedures in the court in which the action is brought; and. The requirements of subsection A of this section respecting the disclosure of sources of information and the recipients of consumer reports do not apply to information received or consumer reports furnished prior to the effective date of this act, except to the extent that the matter involved is contained in the files of the consumer reporting agency on that date.
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