The Oklahoma Supervised Lender Bond is required by the Oklahoma Department of Consumer Credit to ensure that the bondholder, or principal, will abide by the rules and regulations of Title 14A, Oklahoma Statutes, Section 3-503(3). This is required for all who wish to be licensed as a supervised lender in the state. The license allows a lender, as a business, to make or take assignment of supervised loans from other Consumer Credit organizations. The amount for the Supervised Lender bond is set at $5,000.
What are the other requirements that need to be submitted when applying for the Supervised Lender license?
- Completed application form
- Military service verification
- Record keeping and location examination forms
- Financial statements showing assets of at least $25,000
- Appropriate business documents
- Payment for the fees for investigation, license, and examination. The total amount to be paid is at $1,215.
Where can I get an Oklahoma Supervised Lender Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety1 are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.