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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 6. BANKS AND TRUST COMPANIES

  § 6-1513. Registration application - License - List of persons given money transmitter equipment - Fees - Violation and punishment.  

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  • A.  No person shall engage in the money services business in this state without first filing a registration application on a form prescribed by the Commissioner and securing a license to do so from the Commissioner.  Any person acting as agent or authorized delegate for any licensee under the Oklahoma Financial Transaction Reporting Act shall prominently display a copy of the principal's license certificate at each place of business of the agent or authorized delegate where money transmitter services are offered.  It shall be the responsibility of the licensee to provide copies of the most current license certificate to the agent or authorized delegate for display.

    B.  Upon the effective date of this act, a supplier shall provide to the Commissioner, on a form prescribed by the Commissioner, a list of each person to whom money transmitter equipment has been provided.  The list shall be updated each calendar quarter and shall be provided to the Commissioner within thirty (30) days after the close of the calendar quarter.  The updated list shall reflect any additional persons to whom money transmitter equipment has been provided since the last reporting period.  The list need only identify those persons for whom the supplier has an address in this state or who the supplier reasonably believes to be operating in this state.

    C.  Unless a different fee is otherwise promulgated by the Board, each registration application filed under this section must be accompanied by a fee in an amount equal to that required under subsection B of Section 104 of Title 6 of the Oklahoma Statutes.  Any person conducting a money services business at more than one location shall secure a separate license for each location.

    D.  Any person who violates the provisions of this section shall, upon conviction, be guilty of a misdemeanor punishable by a fine of not less than One Thousand Dollars ($1,000.00), or by imprisonment in the county jail for not more than one (1) year, or by both such fine and imprisonment.  Each day that any violation of this section occurs or continues shall constitute a separate offense and shall be punishable as a separate violation.

    E.  All fees collected under this section shall be deposited in the Department revolving fund pursuant to Section 211.1 of this title.

Added by Laws 2006, c. 57, § 3, emerg. eff. April 17, 2006.  Amended by Laws 2008, c. 275, § 6, eff. July 1, 2008; Laws 2013, c. 62, § 7, emerg. eff. April 18, 2013.