OK HB2831

Transfers fee-setting authority from statute to the Commission on Consumer Credit through administrative rules for multiple consumer lending acts (Uniform Consumer Credit Code, Credit Services Organization Act, Oklahoma Pawnshop Act, Precious Metal and Gem Dealer Licensing Act, Oklahoma Rental-Purchase Act, Oklahoma Health Spa Act, Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act, and Deferred Deposit Lending Act).

Requires legislative approval for any new fees prescribed after July 1, 2011, and limits increases to examination and investigation fees ($200 max) and annual license fees ($100 max) within three-year periods.

Establishes independent hearing examiners to conduct administrative hearings for consumer credit violations with authority to recommend penalties, subject to final agency orders by the Administrator with district court appeal rights.

Creates Consumer Credit Advisory Committee with representatives from various licensed entities and the Administrator to review and recommend fees to the Commission; committee meetings subject to Oklahoma Open Meetings Act.

Consolidates multiple revolving funds into Consumer Credit Administrative Expenses Revolving Fund; distributes 70% of fees and civil penalties to the fund and 30% to General Revenue Fund effective July 1, 2010.