- (1) Effective July 1, 2010, seventy percent (70%) of all fees and civil penalties collected by the Department of Consumer Credit pursuant to the Uniform Consumer Credit Code, the Credit Services Organization Act, the Oklahoma Pawnshop Act, the Precious Metal and Gem Dealer Licensing Act, the Oklahoma Rental-Purchase Act, the Oklahoma Health Spa Act, the Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act and the Deferred Deposit Lending Act shall be deposited in the Consumer Credit Administrative Expenses Revolving Fund established in Section 6-301 of Title 14A of the Oklahoma Statutes.
- (2) Effective July 1, 2010, thirty percent (30%) of all fees and civil penalties collected by the Department of Consumer Credit pursuant to the Uniform Consumer Credit Code, the Credit Services Organization Act, the Oklahoma Pawnshop Act, the Precious Metal and Gem Dealer Licensing Act, the Oklahoma Rental-Purchase Act, the Oklahoma Health Spa Act, the Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act and the Deferred Deposit Lending Act shall be deposited in the General Revenue Fund of the State Treasury.
- (3) On July 1, 2010, any unencumbered, unobligated and unexpended funds remaining in the Consumer Credit Investigation Fund, the Health Spa Revolving Fund, the Oklahoma Mortgage Broker and Mortgage Loan Originator Revolving Fund and the Oklahoma Deferred Deposit Lending Regulatory Revolving Fund shall be transferred to the credit of the Consumer Credit Administrative Expenses Revolving Fund.
- (4) The provisions of this section shall not apply to fees received for the Oklahoma Mortgage Broker and Mortgage Loan Originator Recovery Fund and fees received from deferred deposit lenders for consumer counseling services pursuant to Section 3119 of Title 59 of the Oklahoma Statutes.
Laws 2010, HB 2831, c. 415, § 8, emerg. eff. July 1, 2010.