Pawnbrokers operating in the state of Oklahoma are required to post a $5,000 surety bond with the Oklahoma Department of Consumer Credit (DCC). This surety bond protects customers from being defrauded by the principal (pawnbroker) and guarantees that the principal complies with all regulations in Title 59, Chapter 37 of the Oklahoma Statutes governing the operation of a pawnbroker business. If a harmed party files a valid claim against the bond, the surety will pay damages up to the penal sum of the bond to resolve the claim. All damages paid out by the surety must be reimbursed by the principal, including any reasonable attorney fees.
Oklahoma Pawnbroker Surety Bonds have a continuous term and remain in effect until canceled. The surety can cancel the bond at anytime by filing a 30 days written notice with the DCC. You can find the application and renewal form for this license here, and it is recommended that you consult the DCC prior to bonding.
Pacific Surety has rates starting as low as $100 annually for Oklahoma Pawnbroker Surety Bonds. Feel free to complete our simple application to obtain an approval within hours. If you have any specific questions, please contact our knowledgeable underwriting staff.
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Pawn Broker Surety Bonds – Oklahoma
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