reglab/housing_qa huggingface dataset:
14A OK Stat § 14A-3-208 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-208. Advances to perform covenants of debtor.

|(1) If the agreement with respect to a consumer loan, refinancing, or consolidation contains covenants by the debtor to perform certain duties pertaining to insuring or preserving collateral and if the lender pursuant to the agreement pays for performance of the duties on behalf of the debtor the lender 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 lender shall give written notice to the debtor 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 debtor, at least thirty (30) days prior to the commencement of the performance of the specified duties, unless otherwise agreed in writing by the lender and debtor. The debtor, 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 debtor 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 debtor performed by the lender pertain to insurance, a brief description of the insurance paid for by the lender including the type and amount of coverages. No further information need be given. |(2) A loan finance charge may be made for sums advanced pursuant to subsection (1) at a rate not exceeding the rate stated to the debtor pursuant to the provisions on disclosure (Part 3) with respect to the loan, refinancing, or consolidation, except that with respect to a revolving loan account the amount of the advance may be added to the unpaid balance of the debt and the lender may make a loan finance charge not exceeding that permitted by the provisions on loan finance charge for consumer loans (Section 3-201) or for supervised loans (Section 3-508A), whichever is appropriate.Added by Laws 1969, c. 352, § 3-208, eff. July 1, 1969. Amended by Laws 1997, c. 288, § 4.
14A OK Stat § 14A-3-209 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-209. Right to prepay.

|Subject to the provisions on rebate upon prepayment (Section 3-210), the debtor may prepay in full the unpaid balance of a consumer loan, refinancing, or consolidation at any time without penalty. |Added by Laws 1969, c. 352, § 3-209, eff. July 1, 1969.
14A OK Stat § 14A-3-211 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-211. Fee for small loans – Payments to Consumer Credit Counseling Revolving Fund and Personal Financial Literacy Education Revolving Fund.

|A. Each licensee authorized to make small loans shall pay thirty cents ($0.30) for each loan entered into to be deposited into the Consumer Credit Counseling Revolving Fund and the Personal Financial Literacy Education Revolving Fund as follows: |1. Eight cents ($0.08) of each thirty-cent payment shall be deposited into the Consumer Credit Counseling Revolving Fund; and2. Twenty-two cents ($0.22) of each thirty-cent payment shall be paid to the Office of the State Treasurer for deposit into the Personal Financial Literacy Education Revolving Fund.B. The schedule for payment into the Consumer Credit Counseling Revolving Fund shall be determined by the Administrator of Consumer Credit. The schedule for payments to the Office of the State Treasurer for deposit into the Personal Financial Literacy Education Revolving Fund shall be made by each lender quarterly.C. Ten percent (10%) of each scheduled payment of fees pursuant to this section made into the Consumer Credit Counseling Revolving Fund may be transferred to the Consumer Credit Administrative Expenses Revolving Fund established in Section 6-301 of Title 14A of the Oklahoma Statutes for expenses incurred by the Administrator of Consumer Credit in administering the requirements of subsection D of this section.D. Funds collected and deposited in the Consumer Credit Counseling Revolving Fund pursuant to this section shall be paid by the Administrator of Consumer Credit to a third-party, Oklahoma-based consumer credit counseling provider with a verifiable history of work with both industry and consumers in the appropriate field for a program of research and implementation of voluntary consumer counseling and education specifically designed for consumers utilizing deferred deposit loans. The program shall be:1. Selected by a bid process, pursuant to The Oklahoma Central Purchasing Act; and2. Designed in consultation with representatives of both the industry and consumers.E. Funds paid to the Office of the State Treasurer for deposit into the Personal Financial Literacy Education Revolving Fund pursuant to this section shall be used by the State Department of Education for purposes provided in Section 11-103.6h of Title 70 of the Oklahoma Statutes.Added by Laws 2004, c. 557, § 9, emerg. eff. June 10, 2004. Amended by Laws 2010, c. 415, § 36, eff. July 1, 2010; Laws 2017, c. 279, § 2, eff. July 1, 2017; Laws 2019, c. 89, § 30, eff. Aug. 1, 2020. Renumbered from § 3119 of Title 59 by Laws 2019, c. 89, § 32, eff. Aug. 1, 2020.
14A OK Stat § 14A-3-301.1 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-301.1. Federal Consumer Credit Protection Act disclosure.

|Effective July 1, 2014, the lender shall disclose to the debtor to whom credit is extended with respect to a consumer loan 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, § 2, eff. July 1, 2014.
14A OK Stat § 14A-3-302.1 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-302.1. Disclosure of fee for dishonored check, negotiable order of withdrawal or share draft.

|The seller or lender shall disclose to the buyer or debtor the fact that such a fee will be charged and collected for dishonored checks, negotiable orders of withdrawal or share drafts issued by the buyer or debtor. |Added by Laws 1984, c. 51, § 3, emerg. eff. March 28, 1984.
14A OK Stat § 14A-3-302.2 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-302.2. Disclosure of over-the-limit fees.

|The seller or lender shall disclose to the buyer or debtor in the credit card agreement or similar arrangement if over-the-limit fees permitted by law will be charged and collected for exceeding the designated credit limit on a revolving charge account or revolving loan account. |Added by Laws 1988, c. 35, § 7, operative July 1, 1988. Amended by Laws 1989, c. 122 § 5, eff. July 1, 1989.
14A OK Stat § 14A-3-303 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-303. 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, § 3-303, eff. July 1, 1969.
14A OK Stat § 14A-3-305 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-305. Loans made by telephone or mail.

|With respect to a consumer loan, other than a loan made pursuant to a revolving loan account, if the lender receives a request for an extension of credit by mail or telephone without personal solicitation, the lender complies with this part if the lender's printed material distributed to the public or the loan agreement or other printed material delivered to the debtor sets forth the terms of financing, including the annual percentage rate for representative amounts of credit, and if he gives the information required by this part on or before the date the first payment is due on the loan. |Added by Laws 1969, c. 352, § 3-305, eff. July 1, 1969.
14A OK Stat § 14A-3-307 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-307. Refinancing.

|(1) Except as rules adopted by the Administrator not inconsistent with the Federal Consumer Credit Protection Act may otherwise prescribe, if the lender refinances an existing balance owing with respect to a consumer loan, refinancing or consolidation pursuant to the provisions on refinancing (Section 3-205) or consolidates an existing balance owing from a previous consumer loan, refinancing, or consolidation with the amount financed from a subsequent consumer loan, refinancing, or consolidation or consolidates the unpaid balance of a consumer loan with the unpaid balance of a consumer credit sale so as to satisfy any existing balance and replace it with a new obligation undertaken by the same debtor, the lender shall make disclosure with respect to the new transaction to the debtor 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 debtor'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 debtor 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, § 3-307, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 41, operative Oct. 1, 1982.
14A OK Stat § 14A-3-308 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-308. Assumption.

|If a lender expressly agrees in writing with a subsequent debtor to accept that debtor as a primary obligor on an existing transaction in which a mortgage, deed of trust, or equivalent consensual security interest was created or retained in the original debtor's principal dwelling to finance the acquisition or initial construction of it, before the assumption occurs the lender shall make new disclosures to the subsequent debtor based on the remaining obligation. If the finance charge originally imposed on the existing obligation was an add-on or discount finance charge, the lender need only disclose the unpaid balance of the obligation assumed; the total charges imposed by the lender 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, § 3-308, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 42, operative Oct. 1, 1982.
14A OK Stat § 14A-3-309.5 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-309.5. Additional disclosures for reverse mortgages.

|(1) In addition to the disclosures required under Title 14A of the Oklahoma Statutes, for each reverse mortgage, the creditor shall, not less than three (3) days prior to consummation of the transaction, disclose to the consumer in conspicuous type a good faith estimate of the projected total cost of the mortgage to the consumer expressed as a table of annual interest rates. Each annual interest rate shall be based on a projected total future credit extension balance under a projected appreciation rate for the dwelling and a term for the mortgage. The disclosure shall include: |(a)statements of the annual interest rates for not less than three projected appreciation rates and not less than three credit transaction periods, as determined by the Administrator, including:(i)a short-term reverse mortgage;(ii)a term equaling the actuarial life expectancy of the consumer; and(iii)such longer term as the Administrator deems appropriate; and(b)a statement that the consumer is not obligated to complete the reverse mortgage transaction merely because the consumer has received the disclosure required under this section or has signed an application for the reverse mortgage.(2) In determining the projected total cost of the mortgage to be disclosed to the consumer under subsection (1) of this section, the creditor shall take into account:(a)any shared appreciation or equity that the lender will, by contract, be entitled to receive;(b)all costs and charges to the consumer, including the costs of any associated annuity that the consumer elects or is required to purchase as part of the reverse mortgage transaction;(c)all payments to and for the benefit of the consumer, including, in the case in which an associated annuity is purchased, whether or not required by the lender as a condition of making the reverse mortgage, the annuity payments received by the consumer and financed from the proceeds of the loan, instead of the proceeds used to finance the annuity; and(d)any limitation on the liability of the consumer under reverse mortgage transactions, such as nonrecourse limits and equity conservation agreements.Added by Laws 2000, c. 217, § 13, eff. July 1, 2000.
14A OK Stat § 14A-3-313 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-313. Notification to borrower of transfer of residential mortgage loan.

|Not later than thirty (30) days after the date on which a residential mortgage loan is sold or otherwise transferred or assigned to a third party, the creditor that is the new owner or assignee of the debt shall notify the borrower in writing of such transfer, including: |(a)the identity, address and telephone number of the new creditor;(b)the date of transfer;(c)how to reach an agent or party having authority to act on behalf of the new creditor;(d)the location of the place where transfer of ownership of the debt is recorded; and(e)any other relevant information regarding the new creditor.Added by Laws 2012, c. 172, § 8, eff. July 1, 2012.
14A OK Stat § 14A-3-401 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-401. Scope.

|This part applies to consumer loans. Section 3-309.3 of Part 3 of this article contains certain limitations upon the terms of extensions of credit under revolving loan account plans which are subject to either a fixed or a variable rate and are secured by a consumer's principal dwelling. In addition, Section 3-309.4 of Part 3 of this article contains certain limitations upon the terms of extensions of credit under a subsection 10 mortgage referred to in subsection (10) of Section 1-301 of this title. |Added by Laws 1969, c. 352, § 3-401, eff. July 1, 1969. Amended by Laws 1990, c. 260, § 28, operative July 1, 1990; Laws 2003, c. 330, § 9, eff. Jan. 1, 2004.
14A OK Stat § 14A-3-402 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-402. Balloon payments.

|With respect to a consumer loan, other than one pursuant to a revolving loan account, if any scheduled payment is more than twice as large as the average of earlier scheduled payments, the debtor has the right to refinance the amount of that payment at the time it is due without penalty. The terms of the refinancing shall be no less favorable to the debtor than the terms of the original loan. These provisions do not apply to the extent that the payment schedule is adjusted to the seasonal or irregular income of the debtor. |Added by Laws 1969, c. 352, § 3-402, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 46, operative June 1, 1982.
14A OK Stat § 14A-3-403 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-403. No assignment of earnings.

|(1) A lender may not take an assignment of earnings of the debtor for payment or as security for payment of a debt arising out of a consumer loan. An assignment of earnings in violation of this section is unenforceable by the assignee of the earnings and revocable by the debtor. This section does not prohibit an employee from authorizing deductions from his earnings if the authorization is revocable. |(2) A sale of unpaid earnings made in consideration of the payment of money to or for the account of the seller of the earnings is deemed to be a loan to him secured by an assignment of earnings.Added by Laws 1969, c. 352, § 3-403, eff. July 1, 1969.
14A OK Stat § 14A-3-404 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-404. Attorney's fees.

|Except as provided by the provisions on limitations on attorney's fees as to certain supervised loans (Section 3-514), with respect to a consumer loan the agreement may provide for the payment by the debtor of reasonable attorney's fees not in excess of fifteen percent (15%) of the unpaid debt after default and referral to an attorney not a salaried employee of the lender. A provision in violation of this section is unenforceable. |Added by Laws 1969, c. 352, § 3-404, eff. July 1, 1969. Amended by Laws 1970, c. 282, § 9.
14A OK Stat § 14A-3-405 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-405. Limitation on default charges.

|Except for reasonable expenses incurred in realizing on a security interest, the agreement with respect to a consumer loan may not provide for charges as a result of default by the debtor other than those authorized by this act. A provision in violation of this section is unenforceable. |Added by Laws 1969, c. 352, § 3-405, eff. July 1, 1969.
14A OK Stat § 14A-3-406 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-406. Notice of assignment.

|The debtor is authorized to pay the original lender until he receives notification of assignment of rights to payment pursuant to a consumer loan and that payment is to be made to the assignee. A notification which does not reasonably identify the rights assigned is ineffective. If requested by the debtor, the assignee must seasonably furnish reasonable proof that the assignment has been made and unless he does so the debtor may pay the original lender. |Added by Laws 1969, c. 352, § 3-406, eff. July 1, 1969.
14A OK Stat § 14A-3-407 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-407. Authorization to confess judgment prohibited.

|A debtor may not authorize any person to confess judgment on a claim arising out of a consumer loan. An authorization in violation of this section is void. |Added by Laws 1969, c. 352, § 3-407, eff. July 1, 1969.
14A OK Stat § 14A-3-408 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-408. Change in terms of revolving loan accounts.

|(1) If a lender makes a change in the terms of a revolving loan account without complying with this section any additional cost or charge to the debtor resulting from the change is an excess charge and subject to the remedies available to debtors (Section 5-202) and to the Administrator (Section 6-113). |(2) A lender may change the terms of a revolving loan account whether or not the change is authorized by prior agreement. Except as provided in subsection (3) of this section, the lender shall give to the debtor written notice of any change before the effective date of the change as follows:(a)for changes in the rate of interest charged on such an account, at least one written notice shall be given to the debtor at least one billing cycle, but not less than thirty (30) days, prior to such change taking effect; and(b)for a change in the terms other than the rate of interest, at least two written notices shall be given to the debtor, with the first notice at least two billing cycles, but not less than sixty (60) days, prior to such change taking effect.(3) The notice specified in subsection (2) of this section is not required if:(a)the debtor after receiving notice of the change agrees in writing to the change;(b)the debtor elects to pay an amount designated on a billing statement (subsection (2) of Section 3-309 of this title) as including a new charge for a benefit offered to the debtor when the benefit and charge constitute the change in terms and when the billing statement also states the amount payable if the new charge is excluded;(c)the change involves no significant cost to the debtor;(d)the debtor has previously consented in writing to the kind of change made and notice of the change is given to the debtor at least thirty (30) days prior to the effective date of the change;(e)the change applies only to debts incurred after a date specified in a notice of the change given at least thirty (30) days prior to the effective date of the change;(f)the kind or type of change is of a class defined by the Administrator by rule, as not requiring the advance notice set forth in this section for the protection of the consumer; or(g)the change involves late payment charges or over-the-limit charges.(4) The notice provided for in this section is given to the debtor when mailed to the debtor at the address used by the lender for sending periodic billing statements.Added by Laws 1969, c. 352, § 3-408, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 47, operative June 1, 1982; Laws 1983, c. 121, § 1, emerg. eff. May 17, 1983; Laws 1988, c. 35, § 8, operative July 1, 1988; Laws 1999, c. 95, § 1, emerg. eff. April 19, 1999.
14A OK Stat § 14A-3-409 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-409. Use of multiple agreements.

|A lender may not use multiple agreements with intent to avoid disclosure of an annual percentage rate pursuant to the provisions on disclosure and advertising (Part 3). The excess amount of loan finance 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. |Added by Laws 1969, c. 352, § 3-409, eff. July 1, 1969.
14A OK Stat § 14A-3-411 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-411. Refinancing loan to subsection 10 mortgage – Borrower’s interest.

|A creditor may not refinance any consumer loan to the same borrower into a loan subject to subsection (10) of Section 1-301 of Title 14A of the Oklahoma Statutes, unless the refinancing is in the borrower’s interest. Factors to be considered in determining whether the refinancing is in the borrower's interest include, but are not limited to, whether: |(a) the borrower's new monthly payment is lower than the total of all monthly obligations being financed, taking into account the costs and fees;(b) there is a change in the amortization period of the new loan;(c) the borrower receives cash in excess of the costs and fees of refinancing;(d) the borrower's note rate of interest is reduced;(e) there is a change from an adjustable to a fixed rate loan, taking into account costs and fees; or(f) the refinancing is necessary to respond to a bona fide personal need or an order of a court of competent jurisdiction.A creditor is prohibited from engaging in acts or practices to evade this provision, including a pattern or practice of arranging for the refinancing of its own loans by affiliated or unaffiliated creditors, or modifying a loan agreement, whether or not the existing loan is satisfied and replaced by the new loan, and charging a fee.Added by Laws 2003, c. 330, § 11, eff. Jan. 1, 2004.
14A OK Stat § 14A-3-501 (2021)
2021 Oklahoma Statutes|Title 14A. Consumer Credit Code|§14A-3-501. Definitions: "Supervised loan"; "Supervised lender".

|(1) "Supervised loan" means a consumer loan in which the rate of the loan finance charge exceeds ten percent (10%) per year as determined according to the provisions on loan finance charge for consumer loans (Section 3-201). |(2) "Supervised lender" means a person authorized to make or take assignments of supervised loans.Added by Laws 1969, c. 352, § 3-501, eff. July 1, 1969. Amended by Laws 1980, c. 122, § 4, emerg. eff. April 15, 1980.