A. Upon the filing of an application and bond and payment of an annual license fee and an investigation fee, the Administrator of Consumer Credit shall conduct an investigation. If the Administrator finds that the financial responsibility, experience, character and general fitness of the applicant are such as to warrant belief that the business will be operated lawfully and fairly, within the purposes of the Oklahoma Pawnshop Act, and the applicant meets the eligibility requirements of Section 1503A of this title, the Administrator shall grant the application and issue to the applicant a license which will evidence the applicant’s authority to do business under the provisions of the Oklahoma Pawnshop Act.
B. If the Administrator does not so find facts sufficient to warrant issuance of a license, the Administrator shall notify the applicant. If within thirty (30) days of such notification the applicant requests a hearing on the application, a hearing shall be held within sixty (60) days after the date of the request. In the event of the denial of a license, the investigation fee shall be retained by the Administrator, but the annual license fee shall be returned to the applicant.
C. The Administrator shall grant or deny each application for license within sixty (60) days from its filing with the required fees, or from the hearing thereon, if any, unless the period is extended by written agreement between the applicant and the Administrator.
D. No license to engage in the business of a pawnbroker shall be issued for any location where a license has been issued and is in effect under the provisions of Section 3-501 et seq. of Title 14A of the Oklahoma Statutes. The word "location" as used in this subsection means the entire space in which a Title 14A licensee conducts business. No pawnshop may be connected with any location in which a Title 14A licensee conducts business, except by a passageway to which the public is not admitted.
Added by Laws 1972, c. 255, § 5. Amended by Laws 1987, c. 208, § 44, operative July 1, 1987; Laws 1987, c. 236, § 70, emerg. eff. July 20, 1987; Laws 1988, c. 191, § 1, eff. Nov. 1, 1988; Laws 2009, c. 431, § 3, eff. July 1, 2009; Laws 2010, c. 415, § 14, eff. July 1, 2010.
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