reglab/housing_qa huggingface dataset:
14A OK Stat § 14A-2-204 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-204. Deferral charges.

|(1) With respect to any consumer credit sale, refinancing or consolidation, the parties before or after default may agree in writing to a deferral of all or part of one or more unpaid installments. |(2) With respect to a consumer credit sale, refinancing, or consolidation, which is not precomputed, at the time of deferral the buyer may agree in writing to a deferral charge that the seller may make and collect.(3) With respect to a precomputed consumer credit sale, refinancing, or consolidation, the seller may make and collect a charge not exceeding the rate previously stated to the buyer pursuant to the provisions on disclosure (Part 3) applied to the amount or amounts deferred for the period of deferral calculated without regard to differences in lengths of months, but proportionally for a part of a month, counting each day as one-thirtieth (1/30) of a month.(4) A deferral charge may be collected at the time it is assessed or at any time thereafter.(5) The seller may, in addition to the deferral charge, make appropriate additional charges (Section 2-202). The amount of these additional charges which is not paid in cash may be added to the amount financed. With respect to a precomputed consumer credit sale, refinancing, or consolidation, these additional charges not paid in cash may be considered part of the amount deferred for the purpose of calculating the deferral charge.(6) The parties may agree in writing at the time of a precomputed consumer credit sale, refinancing, or consolidation that if an installment is not paid within ten (10) days after its due date, the seller may unilaterally grant a deferral and make charges as provided in subsection (3) of this section.(7) No deferral charge may be made for a period after the date that the seller elects to accelerate the maturity of the agreement, except in circumstances where the seller waives the acceleration and the parties then mutually agree to a deferral.(8) With respect to a precomputed consumer credit sale, refinancing, or consolidation, a delinquency charge made by the seller on an installment may not be retained if a deferral charge is made pursuant to this section with respect to the period of delinquency.Added by Laws 1969, c. 352, § 2-204, eff. July 1, 1969. Amended by Laws 2003, c. 65, § 1, emerg. eff. April 10, 2003.
14A OK Stat § 14A-2-205 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-205. Credit service charge on refinancing.

|With respect to a consumer credit sale, refinancing, or consolidation, the seller may by agreement with the buyer refinance the unpaid balance and may contract for and receive a credit service charge based on the amount financed resulting from the refinancing at a rate not exceeding that permitted by the provisions on credit service charge for consumer credit sales (Section 2-201). For the purpose of determining the credit service charge permitted, the amount financed resulting from the refinancing comprises the following: |(1) if the transaction was not precomputed, the total of the unpaid balance and accrued charges on the date of refinancing, or, if the transaction was precomputed the amount which the buyer would have been required to pay upon prepayment pursuant to the provisions on rebate upon prepayment (Section 2-210) on the date of refinancing, except that for the purpose of computing this amount no minimum credit service charge (subsection (6) of Section 2-201) shall be allowed; and(2) appropriate additional charges (Section 2-202), payment of which is deferred.Added by Laws 1969, c. 352, § 2-205, eff. July 1, 1969.
14A OK Stat § 14A-2-206 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-206. Credit service charge on consolidation.

|If a buyer owes an unpaid balance to a seller with respect to a consumer credit sale, refinancing, or consolidation, and becomes obligated on another consumer credit sale, refinancing, or consolidation, with the same seller, the parties may agree to a consolidation resulting in a single schedule of payments pursuant to either of the following subsections: |(1) The parties may agree to refinance the unpaid balance with respect to the previous sale pursuant to the provisions on refinancing (Section 2-205) and to consolidate the amount financed resulting from the refinancing by adding it to the amount financed with respect to the subsequent sale. The seller may contract for and receive a credit service charge based on the aggregate amount financed resulting from the consolidation at a rate not exceeding that permitted by the provisions on credit service charge for consumer credit sale (Section 2-201).(2) The parties may agree to consolidate by adding together the unpaid balances with respect to the two sales.Added by Laws 1969, c. 352, § 2-206, eff. July 1, 1969.
14A OK Stat § 14A-2-207 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-207. Credit service charge for revolving charge accounts.

|(1) With respect to a consumer credit sale made pursuant to a revolving charge account, the parties to the sale may contract for the payment by the buyer of a credit service charge not exceeding that permitted in this section. |(2) A charge may be made in each billing cycle which is a percentage of an amount no greater than(a)the average daily balance of the account;(b)the unpaid balance of the account on the same day of the billing cycle; or(c)the median amount within a specified range within which the average daily balance of the account or the unpaid balance of the account on the same day of the billing cycle is included. A charge may be made pursuant to this paragraph only if the seller, subject to classifications and differentiations he may reasonably establish, makes the same charge on all balances within the specified range and if the percentage when applied to the median amount within the range does not produce a charge exceeding the charge resulting from applying that percentage to the lowest amount within the range by more than eight percent (8%) of the charge on the median amount.(3) If the billing cycle is monthly, the charge may not exceed one and three-fourths percent (1 3/4%). If the billing cycle is not monthly, the maximum charge is that percentage which bears the same relation to the applicable monthly percentage as the number of days in the billing cycle bears to thirty (30). For the purposes of this section, a variation of not more than four (4) days from month to month is "the same day of the billing cycle".(4) Notwithstanding subsection (3), if there is an unpaid balance on the date as of which the credit service charge is applied, the seller may contract for and receive a charge not exceeding fifty cents ($0.50), if the billing cycle is monthly or longer, or the pro rata part of fifty cents ($0.50) which bears the same relation to fifty cents ($0.50) as the number of days in the billing cycle bears to thirty (30), if the billing cycle is shorter than monthly.Added by Laws 1969, c. 352, § 2-207, eff. July 1, 1969. Amended by Laws 1981, c. 177, § 2.
14A OK Stat § 14A-2-208 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-208. Advances to perform covenants of buyer.

|(1) If the agreement with respect to a consumer credit sale, refinancing, or consolidation contains covenants by the buyer to perform certain duties pertaining to insuring or preserving collateral and the seller pursuant to the agreement pays for performance of the duties on behalf of the buyer, the seller may add the amounts paid to the debt. In the case of covenants as to duties other than the payment of taxes and insuring the collateral, the seller shall give written notice to the buyer setting forth the duties to be performed and a statement of the amount to be charged for the performance of said duties. Said written notice shall be by certified mail to the last-known address of the buyer, at least thirty (30) days prior to the commencement of the performance of the specified duties, unless otherwise agreed in writing by the seller and the buyer. The buyer, prior to commencement of performance, shall have the option to make alternative arrangements for compliance with the covenants. Within a reasonable time after advancing any sums, he shall state to the buyer in writing the amount of the sums advanced, any charges with respect to this amount, and any revised payment schedule and, if the duties of the buyer performed by the seller pertain to insurance, a brief description of the insurance paid for by the seller including the type and amount of coverages. No further information need be given. |(2) A credit service charge may be made for sums advanced pursuant to subsection (1) at a rate not exceeding the rate stated to the buyer pursuant to the provisions on disclosure (Part 3) with respect to the sale, refinancing, or consolidation, except that with respect to a revolving charge account the amount of the advance may be added to the unpaid balance of the account and the seller may make a credit service charge not exceeding that permitted by the provisions on credit service charge for revolving charge accounts (Section 2-207).Added by Laws 1969, c. 352, § 2-208, eff. July 1, 1969.
14A OK Stat § 14A-2-209 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-209. Right to prepay.

|Subject to the provisions on rebate upon prepayment (Section 2-210), the buyer may prepay in full the unpaid balance of a consumer credit sale, refinancing, or consolidation at any time without penalty. |Added by Laws 1969, c. 352, § 2-209, eff. July 1, 1969.
14A OK Stat § 14A-2-301.1 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-301.1. Federal Consumer Credit Protection Act disclosure.

|Effective July 1, 2014, the seller or lessor shall disclose to the buyer to whom credit is extended or lessee with respect to a consumer credit sale or consumer lease the information required by the Federal Consumer Credit Protection Act as defined in Section 1-302 of Title 14A of the Oklahoma Statutes. |Added by Laws 2014, c. 159, § 1, eff. July 1, 2014.
14A OK Stat § 14A-2-303 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-303. Overstatement.

|The disclosure of an amount or percentage which is greater than the amount or percentage required to be disclosed under this part does not in itself constitute a violation of this part if the overstatement is not materially misleading and is not used to avoid meaningful disclosure. |Added by Laws 1969, c. 352, § 2-303, eff. July 1, 1969.
14A OK Stat § 14A-2-305 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-305. Sales made by telephone or mail.

|(1) With respect to a consumer credit sale, other than a sale made pursuant to a revolving charge account, if the seller receives a purchase order or offer by mail or telephone without personal solicitation, the seller complies with this part if (a) he makes the disclosures at the time and in the manner provided in the general disclosure requirements and provisions (Section 2-302), or (b) the seller's catalog or other printed material distributed to the public sets forth the cash price, the total sale price, and the terms of financing, including the annual percentage rate, and before the first payment is due on the sale, he gives the information required by this part including the notice prescribed in subsection (2). |(2) The notice shall be in writing and conspicuous and shall provide that if the buyer does not wish to make the purchase on credit, he, within fifteen (15) days after receiving the notice, may prepay the obligation as to that purchase for an amount stated or identified in the notice and avoid the payment of any credit service charge as to that purchase. A prepayment under this section is subject to the provisions of this act on prepayment, except that no credit service charge shall be made if prepayment in full is made within the period specified in the notice. Payment by mail is effective when posted.Added by Laws 1969, c. 352, § 2-305, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 16, operative Oct. 1, 1982.
14A OK Stat § 14A-2-307 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-307. Refinancing.

|(1) Except as rules adopted by the Administrator not inconsistent with the Federal Consumer Credit Protection Act may otherwise prescribe, if the seller refinances an existing balance owing with respect to a consumer credit sale, refinancing or consolidation pursuant to the provisions on refinancing (Section 2-205) or consolidates an existing balance owing from a previous consumer credit sale, refinancing, or consolidation with the amount financed from a subsequent consumer credit sale, refinancing, or consolidation so as to satisfy any existing balance and replace it with a new obligation undertaken by the same buyer, the seller shall make disclosure with respect to the new transaction to the buyer of the information and in the manner required by this part. |(2) A refinancing does not include:(a)a renewal of a single payment obligation with no change in the original terms;(b)a reduction in the annual percentage rate with a corresponding change in the payment schedule;(c)an agreement involving a court proceeding;(d)a change in the payment schedule or a change in collateral requirements as a result of the buyer's default or delinquency, unless the rate is increased or the new amount financed exceeds the unpaid balance plus earned finance charge and premiums for continuation of consumer credit insurance or insurance against loss of or damage to property or against liability arising out of the ownership or use of property; or(e)the renewal of optional insurance purchased by the buyer and added to an existing transaction if disclosures relating to the initial purchase were provided in accordance with law.Added by Laws 1969, c. 352, § 2-307, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 18, operative Oct. 1, 1982.
14A OK Stat § 14A-2-308 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-308. Assumption.

|If a seller expressly agrees in writing with a subsequent buyer to accept that buyer as a primary obligor on an existing transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest was created or retained in the original buyer's principal dwelling to finance the acquisition or initial construction of it, before the assumption occurs the seller shall make new disclosures to the subsequent buyer based on the remaining obligation. If the finance charge originally imposed on the existing obligation was an add-on or discount finance charge, the seller need only disclose the unpaid balance of the obligation assumed; the total charges imposed by the seller in connection with the assumption; the information required in the case of new disclosures concerning prepayment, late payment, security interests and to exclude premiums for consumer credit and property and liability insurance from the finance charge; the annual percentage rate originally imposed on the obligation; and the payment schedule and total of payments based on the remaining obligation. |Added by Laws 1969, c. 352, § 2-308, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 19, operative Oct. 1, 1982.
14A OK Stat § 14A-2-309 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-309. Estimates of disclosures.

|(1) In the case of a transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest is created or retained in the buyer's principal dwelling to finance the acquisition or initial construction of that dwelling, if that transaction is also subject to the Real Estate Settlement Procedures Act, 12 U.S.C. Sections 2601 et seq., good faith estimates of the disclosures required by this part shall be made in accordance with the rules of the Administrator concerning estimates before the credit is extended, or shall be delivered or placed in the mail not later than three (3) business days after the seller receives the buyer's written application, whichever is earlier. If the disclosure statement furnished within three (3) days of the written application contains an annual percentage rate which is subsequently rendered inaccurate within the meaning of Section 2-304(5) (a) and (c), the seller shall furnish another statement at the time of settlement or consummation. |(2) If a consumer credit sale is one of a series of consumer credit sales transactions made pursuant to an agreement providing for the addition of the deferred payment price of that sale to an existing outstanding balance, and the buyer has approved in writing both the annual percentage rate or rates and the method of computing the finance charge or charges, and the seller retains no security interest in any property as to which payments aggregating the amount of the sales price including any finance charges attributable thereto have been received, the disclosure required under this part for the particular sale may be made at any time not later than the date the first payment for that sale is due. For the purpose of this subsection, in the case of items purchased on different dates, the first purchased shall be deemed first paid for, and in the case of items purchased on the same date, the lowest priced shall be deemed first paid for.Added by Laws 1969, c. 352, § 2-309, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 20, operative Oct. 1, 1982.
14A OK Stat § 14A-2-311 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-311. Consumer leases.

|With respect to a consumer lease the lessor shall give to the lessee the following information: |(1) brief description or identification of the personal property leased;(2) amount of any payment required at the inception of the lease;(3) amount paid or payable for official fees, registration, certificate of title, or license fees or taxes;(4) amount of other charges not included in the periodic payments and a brief description of the charges;(5) brief description of insurance to be provided or paid for by the lessor or required of the lessee, including the types and amounts of the coverages and costs;(6) number of periodic payments, the amount of each payment, the due date of the first payment, the due dates of subsequent payments or interval between payments, and the total amount payable by the lessee;(7) statement of the conditions under which the lessee or lessor may terminate the lease prior to the end of the term and the amount or method of determining any penalty or other charge for delinquency, default, late payments or early termination;(8) statements of the liabilities the lease imposes upon the lessee at the end of the term; whether or not the lessee has the option to purchase the leased property and at what price and time; that the lessee shall be liable for the differential, if any, between the anticipated fair market value of the leased property and its appraised actual value at the termination of the lease if the lessee has such liability; of the fair market value of the property at the inception of the lease, the aggregate cost of the lease on expiration, and the differential between them, where the lease provides that the lessee shall be liable for the anticipated fair market value of the property on expiration of the lease; that the estimated residual value is a reasonable approximation of the anticipated actual fair market value of the property on lease expiration where the lessee's liability on expiration of the lease is based on the estimated residual value of the property; and that the lessee, if the lease has a residual value provision at its termination, may obtain at his expense a professional appraisal of the leased property by an independent third party agreed to by both parties which shall be final and binding on the parties;(9) statement identifying all express warranties and guarantees made by the manufacturer or lessor with respect to the leased property and identifying the party responsible for maintaining or servicing the leased property together with a description of the responsibility; and(10) description of any security interest held or to be retained by the lessor in connection with the lease and a clear identification of the property to which it relates.Added by Laws 1969, c. 352, § 2-311, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 22, operative Oct. 1, 1982.
14A OK Stat § 14A-2-401 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-401. Scope.

|This part applies to consumer credit sales and consumer leases. In addition, Section 2-310.3 of Part 3 of this article contains certain limitations upon the terms of extensions of credit under revolving charge account plans which are subject to either a fixed or a variable rate and are secured by a consumer's principal dwelling. |Added by Laws 1969, c. 352, § 2-401, eff. July 1, 1969. Amended by Laws 1990, c. 260, § 20, operative July 1, 1990.
14A OK Stat § 14A-2-402 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-402. Use of multiple agreements.

|A seller may not use multiple agreements with intent to obtain a higher credit service charge than would otherwise be permitted by this article or to avoid disclosure of an annual percentage rate pursuant to the provisions on disclosure and advertising (Part 3). The excess amount of credit service charge provided for in agreements in violation of this section is an excess charge for the purposes of the provisions on the effect of violations on rights of parties (Section 5-202) and the provisions on civil actions by Administrator (Section 6-113). |Added by Laws 1969, c. 352, § 2-402, eff. July 1, 1969.
14A OK Stat § 14A-2-403 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-2-403. Certain negotiable instruments prohibited.

|In a consumer credit sale or consumer lease, the seller or lessor may not take a negotiable instrument other than a check as evidence of the obligation of the buyer or lessee. A holder is not in good faith if he takes a negotiable instrument with notice that it is issued in violation of this section. A holder in due course is not subject to the liabilities set forth in the provisions on the effect of violations on rights of parties (Section 5-202) and the provisions on civil actions by Administrator (Section 6-113). |Added by Laws 1969, c. 352, § 2-403, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 24, operative June 1, 1982.