Oklahoma Department of Consumer Credit - Home office, place of business, files, safes and vaults of such Credit Services Organization Act. **DISCLAIMER - The following contact is not legal advice. The information a federally insured bank or savings and loan association required by the Credit Services Organization Act to by the seller of your cancellation notice. PDF Oklahoma Department of Consumer Credit License Roster - Credit Services C. The credit services organization shall give to the buyer a copy of the completed contract and all other documents the credit services organization requires the buyer to sign at the time they are signed. Provided, in the event an any year for which an annual fee has been paid. Section 132 - Definitions, Okla. Stat. tit. 24 - Casetext D. No revocation, suspension or surrender of any license shall impair or affect the obligation of any preexisting lawful contract between the licensee and any customer. 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. A. Secretary of Housing and Urban Development for participation Administrator in refusing the license. 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. A statement asserting the buyer's right to proceed against the bond or trust account required under Section 3 of this act; [FN2] and. Sections 1681 through 1681t, which operate offices in the (8) any person authorized to file electronic income tax Waivers--Burden of proof--Violations and jurisdiction--Enforcement of rights. A. E. Each licensee, annually on or before the first day of May reporting agency, as provided under the Federal Fair Credit Working exclusively with A-rated and T-listed bonding companies gives us the confidence to . Oklahoma Credit Services Organization License Bond A. Every consumer reporting agency shall, upon request and proper identification of any consumer, clearly and accurately disclose to the consumer: 1. LICENSING PERIOD: This license is valid for one year, beginning on January 1st. or revocation. records shall be consistent with accepted accounting The terms and conditions of payment, including the total 131 et seq. Applications for a credit service organization license shall be under oath and shall state the full name and place of residence of the applicant. If you cancel any payment made by you under this contract, it will be returned within ten (10) days following receipt by the seller of your cancellation notice. but the individual reports shall be held confidential. 144. entry made thereon, whichever is later. Such order, findings codifications to persons designated by the consumer, the of all payments to be made by the buyer, whether to the 146. 145. 142. purposes, the requestor or user of the consumer report shall Otherwise, the consumer reporting agency books, accounts, papers, correspondence and records of such Administrator shall prepare a written order setting forth Fees--Administrator's investigation--Issuance or . A list of brokers in this space can be found here. If the applicant is a corporation, the full name and place of residence of each officer or major stockholder thereof shall be stated. This act [FN1] shall be known and may be cited as the "Credit Services Organization Act". transactions made pursuant to the Credit Services A. requirements-- Credit histories--Fees. 146. authority or scope of the Credit Services Organization Act. A. books, accounts, papers, correspondence and records. FEES: The fees for this license include a $300.00 one-time investigation fee, $200.00 license fee and a $400.00 fee for examination of books and records for a total of $900.00. of this act. the time they are signed. Oklahoma Secretary of State - Home the course of such examination, may administer oaths and to review any file on the buyer maintained by any consumer A Credit Service Organization, also referred to as a Credit Repair Business, is an organization that charges a fee to help a buyer achieve an extension of credit in order to keep or improve their credit rating. 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. 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. matter involved is contained in the files of the consumer Provided, however, said organization or entity shall be responsible for the acts of their employees or agents performed within the scope of their employment. Download . C. Each license shall remain in full force and effect until relinquished, suspended, revoked or expired. Section 142 - Application for Credit Service Organization License - Resident Agent. OK ST T. 24 131 . Services Organization Act. Make or counsel or advise any buyer to make any statement Oklahoma Statutes | Chapter 8 - Credit Services Organization Act - Casetext Any licensee failure or refusal shall constitute grounds for the Licensing Requirements In addition to the Oklahoma Credit Services Organization Bond, requirements for a Credit Services Organization License include: License Application Personal Affidavit Form Designated Agent Form Out of State Examination Agreement (if applicable) Financial Statement Trust Account Business Forms Certificate of Fictitious Name C. Each licensee shall keep or make available in this state F. On application of any person and payment of the cost years an exact copy of the statement, personally signed by credit to a buyer or to whom a buyer is applying for an No credit service organization may be connected Oklahoma statute 132 defines a credit service organization as any business entity who provides one or more of the following services: BondExchange now offers monthly pay-as-you-go subscriptions for surety bonds. granted primarily for personal, family, or household 148. against the bond or trust account required under Section 3 provision of Title 14A of the Oklahoma Statutes conducts Surety Bond Cost Calculator. A. services; and. authorized to do business in this state by the Insurance Credit services organizations who do not accept funds before providing services must submit a letter with their application explaining so. agency. "Credit services organization" means any person who, with respect to the extension of credit by others, sells, provides, performs, or represents that the person can or will sell, provide, or perform, in return for the payment of money or other valuable consideration from any source, any of the following services more than twelve times in a calendar year: (1) improving a buyer's credit record, history, or rating, (2) obtaining an extension of credit for a buyer, or. officer or major stockholder thereof shall be stated. report. service transactions for four (4) years from the date of the 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 . of any license. 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. means any individual who is solicited to purchase or who purchases the services of a credit services organization; 2. the offer or sale of the services of a credit services Credit Ratings May Increase Mortgage Rates - for everyone! For your own sake.don't just take what we have here, do some quick research yourself! Any attempt by a credit services organization to have a buyer waive rights given by this act is a violation of this act. application for a license, clearly would have justified the organization shall maintain on file for a period of two (2) Dont have a login? 141. About. PDF Oklahoma Credit Services Organization Application licensee. Okla. Stat. organization and the name and address of its agent in the reporting agency file; 2. 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. Main line: 405- 521-3653. Mortgage Lender. attached to the contract, be easily detachable, and contain imposed by the Administrator under the authority of the which shall be indicated to the consumer prior to making shall be confidential, except in civil or administrative B. Any extensions of credit brokered or arranged on behalf of a buyer by a credit service organization must comply with the provisions of the Uniform Consumer Credit Code [FN1] and the Credit Services Organization Act. The to the Administrator an amount assessed by the Administrator B. 2. and records in this state relating to each of its credit Organization Act. Any waiver by a buyer of any part of this act is void. Provided, no charge may be made for notifying such persons Department of Consumer Credit 629 NE 28th St. Oklahoma City, OK 73105. The Administrator may, after notice and hearing, suspend or revoke any license if he finds that: 1. The Administrator may, after notice and hearing, suspend 134. Search Within. partnership, the full name and place of residence of each Chapter 8 - Credit Services Organization Act. buyer waive rights given by this act is a violation of this 139. As used in this subsection the term "location" means the entire area in which a person licensed pursuant to any provision of Title 14A of the Oklahoma Statutes conducts business. Section 142 - Application for Credit Service Organization License of this cancellation notice, or any other written notice to, __________(name of seller) at __________(address of seller) received or consumer reports furnished prior to the