SECTION 160:75-3-1. License application package

  A complete license application package shall consist of the following information and documentation:

(1)   License application. The license application shall consist of the following information:

(A)   The legal name of the applicant.

(B)   The trade name(s) of the applicant in the State of Oklahoma, if applicable.

(C)   The fictitious name of the applicant in the State of Oklahoma, if applicable.

(D)   The name of the applicant that will be identified on the license.

(E)   The Internet website address of the applicant, if applicable.

(F)   The type of business entity of the applicant.

(G)   The principal place of business of the applicant.

(H)   The date of the application.

(I)   The contact person of the applicant. The contact person shall be the representative of the applicant that is responsible for all correspondence with the Department, including but not limited to, licensing, complaints and enforcement matters. The applicant shall specify the full name and title of the contact person. The applicant shall specify the telephone number, mailing address, facsimile number and electronic mail address of the contact person.

(J)   The registered agent of the applicant for the receipt of service of process within the State of Oklahoma. The applicant shall specify the full name of the registered agent, the street address, telephone number and electronic mail address of the registered agent.

(K)   An applicant that is a limited liability company shall provide contact information as directed in the application for each member and manager, as applicable.

(L)   An applicant that is a corporation shall provide contact information as directed in the application for each director and officer, as applicable.

(M)   An applicant that is a partnership shall provide contact information as directed in the application for each partner, as applicable, and any agent(s), if applicable.

(2)   Disclosures. The applicant must respond to disclosure questions regarding the background of the applicant and the officers, directors, members, partners, managers or agents of the applicant, as applicable. The disclosure questions address the character and fitness of the applicant for purposes of determining whether or not the applicant will operate honestly and fairly in accordance with the Consumer Litigation Funding Act. The disclosure questions address the following matters:

(A)   Pending administrative, civil or criminal actions. An applicant is required to provide a certified copy of a petition or other document that initiated a pending administrative, civil or criminal action against the applicant and/or any officer, director, member, partner, manager or agent of the applicant, as applicable.

(B)   Business or professional license suspensions and revocations. An applicant is required to provide a certified copy of an order imposing the suspension or revocation of a business or professional license of the applicant and/or any officer, director, member, partner, manager or agent of the applicant, as applicable, by any federal, municipal or state agency in the United States of America.

(C)   Previous monetary penalties in connection with activities conducted under a business or professional license. An applicant is required to provide a certified copy of an order imposing a monetary penalty that has been issued against the applicant and/or any officer, director, member, partner, manager or agent of the applicant, as applicable, by a federal, municipal or state agency in the United States of America regarding activities conducted under a business or professional license.

(D)   Felony convictions. An applicant is required to provide a certified copy of a Judgment and Sentence imposed against the applicant and/or any officer, director, member, partner, manager or agent of the applicant regarding a felony crime. The law of the federal, state or military court in which the applicant and/or any officer, director, member, partner, manager or agent of the applicant was convicted determines whether a particular crime is classified as a felony.

(3)   Bond or irrevocable letter of credit. The applicant must furnish a certified copy of a bond or an irrevocable letter of credit in the amount of Fifty Thousand Dollars ($50,000.00). The bond or irrevocable letter of credit shall include the terms mandated by the Consumer Litigation Funding Act.

(4)   Business documents. An entity must furnish business documents to verify the identity and business structure of the applicant. An entity must also provide documentation from the Oklahoma Secretary of State regarding the authority of the applicant to transact business in the State of Oklahoma. The business documents required to be furnished to the Department are specified in the application. A foreign business entity that is exempt from obtaining a Certificate of Authority, Registration or Qualification from the Oklahoma Secretary of State, as applicable, shall provide to the Department the exemption that is applicable and a certified copy of a document issued by an authorized officer of the jurisdiction in which the foreign business entity was formed or incorporated evidencing the existence and good standing of the foreign business entity in such jurisdiction.

(5)   Fees. The applicant shall submit all applicable fees as required by the Consumer Litigation Funding Act and/or any applicable administrative rules of the Department.

(6)   Affidavit verifying lawful presence in the United States of America. A notarized affidavit must be submitted for individuals or sole proprietors to verify the lawful presence of the individual in the United States of America. Information and forms are included with the application.

(7)   Attestation. An authorized officer, member, manager, director, or agent, as applicable, of the applicant must sign the application and attest to the information submitted in the application. The attestation shall include an acknowledgment that the applicant understands and will comply with the laws of the State of Oklahoma regarding consumer litigation funding.

[Source: Added at 32 Ok Reg 1673, eff 9-11-15]