Oklahoma § 6-1512 Definitions

Oklahoma Statutes

§ 6-1512 — Definitions

Oklahoma § 6-1512

Title 6Banks And Trust Companies

This text of Oklahoma § 6-1512 (Definitions) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 6, § 6-1512 (2026).

Text

As used in this act: 1. "Board" means the Banking Board; 2. "Commissioner" means the State Banking Commissioner; 3. "Currency" or "funds" means the coin and paper money of the United States or of any other country that is designated as legal tender and that circulates and is customarily used and accepted as a medium of exchange in the country of issuance. Currency includes U.S. silver certificates, U.S. notes, and Federal Reserve notes. Currency also includes official foreign bank notes that are customarily used and accepted as a medium of exchange in a foreign country; 4. "Department" means the Oklahoma State Banking Department; 5. "Licensee" means a person granted a license by the Commissioner to engage in business as a money transmitter; 6. "Money services business" includes each agent,

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As used in this act: 1. "Board" means the Banking Board; 2. "Commissioner" means the State Banking Commissioner; 3. "Currency" or "funds" means the coin and paper money of the United States or of any other country that is designated as legal tender and that circulates and is customarily used and accepted as a medium of exchange in the country of issuance. Currency includes U.S. silver certificates, U.S. notes, and Federal Reserve notes. Currency also includes official foreign bank notes that are customarily used and accepted as a medium of exchange in a foreign country; 4. "Department" means the Oklahoma State Banking Department; 5. "Licensee" means a person granted a license by the Commissioner to engage in business as a money transmitter; 6. "Money services business" includes each agent, agency, branch, or office within the State of Oklahoma of any person doing business, whether or not on a regular basis or as an organized business concern, as a money transmitter or in one or more of the capacities otherwise identified and defined by the Board. The term "money services business" shall not include a "bank" as that term is defined in Title 31, Code of Federal Regulations, Chapter X, nor shall it include a person registered with and regulated or examined by the Securities and Exchange Commission or the Commodity Futures Trading Commission; 7. "Money transmitter" means any person who engages in the business of accepting currency or funds denominated in currency, and transmits the currency or funds or the value of the currency or funds, by any means through a financial agency or institution, a Federal Reserve Bank or other facility of one or more Federal Reserve Banks, the Board of Governors of the Federal Reserve System or both, or an electronic funds transfer network; 8. "Money transmitter equipment" means any type of terminal, machine, computer software, access to any network, or any other type of tangible or intangible apparatus or system, or any combination thereof, that may be used by a money transmitter to initiate a transmittal of currency; 9. "Person" includes an individual, corporation, partnership, limited partnership, limited liability company, trust or estate, joint stock company, association, syndicate, joint venture, or other unincorporated organization or group, Indian tribe, and all entities cognizable as legal personalities; and 10. "Supplier" means any person that utilizes, designates or otherwise authorizes another person, whether or not designated as an agent, to perform services of a money transmitter, or who provides money transmitter equipment to a person in connection therewith.

Legislative History

Added by Laws 2006, c. 57, § 2, emerg. eff. April 17, 2006. Amended by Laws 2013, c. 62, § 6, emerg. eff. April 18, 2013; Laws 2016, c. 127, § 3, emerg. eff. Apr. 20, 2016.