§59-1957. Application of act - Violations - Penalties.
124 words·~1 min read·
/ok/title-59-professions-and-occupations/59-1957·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Oklahoma Rental-Purchase Act applies to persons, who in this state make or solicit rental-purchase agreements, or who directly collect payments from or enforce rights against debtors arising from the rental-purchase agreement, wherever they are made; or who engage in rental-purchase transactions subject to the provisions of the Oklahoma Rental-Purchase Act. A person who willfully engages in the business of making rental-purchase agreements without a license in violation of the provisions of this act pertaining to authority to make rental-purchase agreements, upon conviction, is guilty of a misdemeanor and may be sentenced to pay a fine not exceeding Five Thousand Dollars ($5,000.00), or to imprisonment not exceeding one
(1)year, or both. Added by Laws 1988, c. 106, § 8, eff. Nov. 1, 1988.