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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 59. PROFESSIONS AND OCCUPATIONS

  § 59-1503A. Eligibility for license - Felons - Verifying net assets requirement.  

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  • A.  To be eligible for a pawnshop license, an applicant shall:

    1.  Be of good moral character;

    2.  Have net assets of at least Twenty-five Thousand Dollars ($25,000.00); and

    3.  Show that the pawnshop will be operated lawfully and fairly within the purpose of the Oklahoma Pawnshop Act, Section 1501 et seq. of Title 59 of the Oklahoma Statutes.

    B.  The Administrator shall find ineligible an applicant who has a felony conviction which directly relates to the duties and responsibilities of the occupation of pawnbroker.

    C.  If the Administrator is unable to verify that the applicant meets the net assets requirement for a pawnshop license, the Administrator may require a finding, including the presentation of a current balance sheet, by an accounting firm or individual holding a permit to practice public accounting in this state, that the accountant has reviewed the books and records of the applicant and that the applicant meets the net assets requirement.

Added by Laws 1988, c. 191, § 7, eff. Nov. 1, 1988.