A. Before any license is issued or renewed, the applicant or licensee shall pay an annual license fee in the amount of Two Hundred Dollars ($200.00), plus Ten Dollars ($10.00) for each location within this state at which checks of the licensee are issued or sold. With respect to license renewals, every licensee, on or before each June 1, shall pay the annual license fee for the succeeding fiscal year commencing July 1.

B. The State Banking Commissioner shall issue a license certificate to a licensee satisfying the requirement therefor. The license certificate shall be displayed prominently and be available for inspection upon demand at each location of the licensee at which checks of the licensee are to be issued or sold. It shall be the responsibility of the licensee to provide a copy of the original license certificate to the agent at each location for display. Any location failing to display a license certificate may be prohibited by the Commissioner from selling checks if the agent at such location fails or refuses to comply with such display requirement after receipt of written notice from the Commissioner. The Commissioner shall provide the licensee with a copy of the written notice and shall also notify the licensee in writing of any additional action proposed or taken by the Commissioner.

C. A license issued hereunder shall remain in effect until surrendered by the licensee or revoked, and may be renewed from year to year upon payment of the fee required in subsection A of this section, provided the licensee continues to comply with all provisions of Section 2101 et seq. of this title and of all regulations hereunder.

D. The requirements of this section shall not apply to those locations where checks of the licensee are issued or sold which are governmental departments or financial institutions fully exempt from the provisions of the Sale of Checks Act pursuant to Section 2104 of this title.

E. Fees collected pursuant to this section shall be deposited in the Oklahoma State Banking Department revolving fund pursuant to Section 211.1 of this title.

Added by Laws 1961, p. 427, § 7. Amended by Laws 1982, c. 223, § 14; Laws 1988, c. 216, § 5, eff. Nov. 1, 1988; Laws 1990, c. 104, § 2, eff. Sept. 1, 1990; Laws 1993, c. 183, § 27, eff. July 1, 1993; Laws 1998, c. 74, § 1, eff. Nov. 1, 1998; Laws 1999, c. 27, § 10, eff. July 1, 1999; Laws 2000, c. 205, § 26, emerg. eff. May 17, 2000.