ENROLLED HOUSE
BILL NO. 3159	By:	Sears and Martin (Scott) of the House

				    and

			Jolley and Justice of the Senate 

An Act relating to the Department of Consumer Credit; amending 14A O.S. 2011, Section 6-303, which relates to fee apportionments; and modifying certain fee apportionments.

SUBJECT:  Department of Consumer Credit fees and penalties

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:

SECTION 1.     AMENDATORY     14A O.S. 2011, Section 6-303, is amended to read as follows:

Section 6-303. (1)  Effective July 1, 2010, seventy percent (70%) Beginning on the effective date of this act, eighty percent (80%) 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 this title.

(2)  Effective July 1, 2010, thirty percent (30%) Beginning on the effective date of this act, twenty percent (20%) 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.

(4)  The Administrator of Consumer Credit may authorize refunds of a portion of collected fees to licensees on a pro rata basis at the conclusion of the annual license renewal process.  Refunds made in accordance with this subsection shall be paid from the Consumer Credit Administrative Expenses Revolving Fund established in Section 6-301 of this title. 

Passed the House of Representatives the 23rd day of May, 2012.

	
Presiding Officer of the House of
	Representatives

Passed the Senate the 25th day of May, 2012.

	
Presiding Officer of the Senate