Rental Purchase Lessor

• Title 59 O.S. §§ 1950-1957 - Oklahoma Rental-Purchase Act
• Title 160, Chapters 1,3,5,35 - Oklahoma Administrative Code

This license allows a business to contract with individuals to provide the use of personal property for personal, family or household use in return for compensation. The initial period of agreement is 4 months or less: renewal with each payment thereafter. The renewal with additional payments allows the consumer to become the owner of the property.

The approval process for this license requires 30 days to complete.

The fees for this license include a $200.00 license fee, $400.00 examination fee of books and records, and $200.00 one-time investigation fee for a total of $800.00.

This license is valid for one year, beginning January 1st.

None.