Oklahoma Pawnshop Act

The act establishes a licensing scheme for pawnshops and the people who work in them, requiring a license to operate and placing pawnbrokers under the oversight of a designated state regulator with authority to make rules implementing the act. It sets the terms of entry and continued operation — eligibility and minimum net-asset standards, bonding and insurance, an application process with investigation, notice, and a hearing before approval or denial, and license terms, fees, renewal, and grounds for refusing renewal. It also governs how a licensed business may change over time, addressing additional locations, relocation, changes of ownership, transfer of a license, the appointment of an agent, a pawnbroker's responsibility for employees and agents, and conditions of operation such as display of the license and permitted business hours.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.