There is hereby created in the State Treasury a revolving fund for the Commission on Consumer Credit to be designated the "Oklahoma Mortgage Broker and Mortgage Loan Originator Revolving Fund". The fund shall consist of fees and fines received, except for the fee to be paid into the Oklahoma Mortgage Broker and Mortgage Loan Originator Recovery Fund required by paragraph 6 of subsection M of Section 9 of this act, by the Administrator of Consumer Credit pursuant to the Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act. The revolving fund shall be a continuing fund not subject to fiscal year limitations and shall be under the administrative direction of the Administrator. Monies accruing to the credit of this fund are hereby appropriated and may be budgeted and expended by the Administrator for the administration and enforcement of this act upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of State Finance for approval and payment.

Added by Laws 2009, SB 1062, c. 190, § 29, emerg. eff. July 1, 2009.