SECTION 160:75-3-2. License renewal

  A complete license renewal package shall consist of the following information:

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

(A)   The name of the licensee identified on the license.

(B)   The license number of the licensee.

(C)   The date of the license renewal application.

(D)   The licensee shall specify if any information submitted in the initial license application has changed since the date of the initial license application submission. If any information submitted in the initial license application has changed since the date of the initial license application submission, the licensee shall specify if the changes have been reported as required by the rules of this chapter regarding license and address changes. If the licensee has not complied with the rules of this chapter regarding license and address changes, the licensee shall submit any revised information and any applicable documentation in the license renewal application.

(2)   Fees. The licensee shall submit a renewal fee determined by the Administrator to be Five Hundred Eighty Dollars ($580.00).

(3)   Bond or irrevocable letter of credit. The licensee must furnish a certified copy of a current 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. A business entity licensee shall submit a current Certificate of Good Standing issued by the Oklahoma Secretary of State. A current Certificate of Good Standing means a Certificate of Good Standing or other applicable document issued within thirty (30) days of the date of the license renewal application. A foreign business entity that is exempt from obtaining a Certificate of Authority, Registration or Qualification from the Oklahoma Secretary of State shall provide a current Certificate of Good Standing or other applicable document by an authorized official of the jurisdiction in which the foreign business entity was formed or incorporated evidencing the existence and good standing of the foreign business entity.

(5)   Affidavit verifying lawful presence in the United States of America. A notarized affidavit of lawful presence in the United States of America shall be submitted for individuals or sole proprietorships that are qualified aliens.

(6)   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 license renewal 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. The attestation must also acknowledge that the licensee has reported any revised information to the Department since the initial license application submission.

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