reglab/statecodes huggingface dataset:
2023 Oklahoma Statutes › Title 14. Congressional and Legislative Districts › §14-145. Terms of office.

A. Members of the House of Representatives elected in November 2020 shall hold office until the fifteenth day succeeding the General Election in November 2022, and thereafter, members of the House of Representatives shall be elected for terms of office of two (2) years.
B. The State House of Representatives districts described in Section 3 of this act shall become effective on the fifteenth day following the General Election in November 2022. The State Election Board and appropriate county election boards shall conduct regular or special elections for the State House of Representatives held after April 5, 2022, in accordance with the provisions of the State House of Representatives Redistricting Act of 2021.
Added by Laws 2021, 1st Ex. Sess., c. 1, § 4, emerg. eff. Nov. 22, 2021.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-1-102. Purposes - Rules of construction.

(1) This act shall be liberally construed and applied to promote its underlying purposes and policies.
(2) The underlying purposes and policies of this act are
(a)
to simplify, clarify and modernize the law governing retail installment sales, consumer credit, small loans and usury;
(b)
to provide rate ceilings to assure an adequate supply of credit to consumers;
(c)
to further consumer understanding of the terms of credit transactions and to foster competition among suppliers of consumer credit so that consumers may obtain credit at reasonable cost;
(d)
to protect consumer buyers, lessees, and borrowers against unfair practices by some suppliers of consumer credit, having due regard for the interests of legitimate and scrupulous creditors;
(e)
to permit and encourage the development of fair and economically sound consumer credit practices;
(f)
to conform the regulation of consumer credit transactions to the policies of the Federal Consumer Credit Protection Act; and
(g)
to make uniform the law including administrative rules among the various jurisdictions.
(3) A reference to a requirement imposed by this act includes reference to a related rule of the Administrator adopted pursuant to this act.
Added by Laws 1969, c. 352, § 1-102, eff. July 1, 1969.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-1-103. Supplementary general principles of law applicable.

Unless displaced by the particular provisions of this act, the Uniform Commercial Code and the principles of law and equity, including the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy, or other validating or invalidating cause, supplement its provisions.
Added by Laws 1969, c. 352, § 1-103, eff. July 1, 1969.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-1-104. Construction against implicit repeal.

This act being a general act intended as a unified coverage of its subject matter, no part of it shall be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided.
Added by Laws 1969, c. 352, § 1-104, eff. July 1, 1969.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-1-107. Waiver - Agreement to forego rights - Settlement of claims.

(1) Except as otherwise provided in this act, a buyer, lessee or debtor may not waive or agree to forego rights or benefits under this act.
(2) A claim by a buyer, lessee, or debtor against a creditor for an excess charge, other violation of this act, or civil penalty, or a claim against a buyer, lessee, or debtor for default or breach of a duty imposed by this act, if disputed in good faith, may be settled by agreement.
(3) A claim, whether or not disputed, against a buyer, lessee or debtor may be settled for less value than the amount claimed.
Added by Laws 1969, c. 352, § 1-107, eff. July 1, 1969.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-1-108. Effect of act on powers of organizations.

(1) This act prescribes maximum charges for all creditors, except lessors and those excluded (Section 1-202), extending consumer credit including consumer credit sales (Section 2-104), consumer loans (Section 3-104), and consumer related sales and loans (Section 2-602 and Section 3-602), and displaces existing limitations on the powers of those creditors based on maximum charges.
(2) With respect to sellers of goods or services, small loan companies, licensed lenders, consumer and sales finance companies, industrial banks and loan companies, and commercial banks and trust companies, this act displaces existing limitations on their powers based solely on amount or duration of credit.
(3) Except as provided in subsection (1) and in the article on effective date and repealer (Article 9), this act does not displace limitations on powers of credit unions, savings banks, savings and loan associations, or other thrift institutions whether organized for the profit of shareholders or as mutual organization.
(4) Except as provided in subsections (1) and (2) and in the article on effective date and repealer (Article 9), this act does not displace
(a)
limitations on powers of supervised financial organizations (subsection (17) of Section 1-301) with respect to the amount of a loan to a single borrower, the ratio of a loan to the value of collateral, the duration of a loan secured by an interest in land, or other similar restrictions designed to protect deposits, or
(b)
limitations on powers an organization is authorized to exercise under the laws of this state or the United States.
Added by Laws 1969, c. 352, § 1-108, eff. July 1, 1969.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-1-109. Discrimination in extension of credit on basis of sex or marital status prohibited.

(1) With respect to a "Consumer Credit Sale", "Consumer Lease", or "Consumer Loan", no creditor shall limit or refuse to extend credit solely on the basis of the sex or marital status of the consumer.
(2) The provisions of this section shall be enforced by the Administrator of the Department of Consumer Credit in accordance with his statutory powers and duties.
Added by Laws 1974, c. 95, § 1. Amended by Laws 1979, c. 101, § 1, emerg. eff. April 25, 1979.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-1-110. Use of cash discounts.

With respect to a credit card which may be used for extensions of credit in sales transactions in which the seller is a person other than the card issuer, the card issuer may not, by contract or otherwise, prohibit any such seller from offering a discount to a cardholder to induce the cardholder to pay by cash, check or similar means rather than use a credit card.
Added by Laws 1976, c. 263, § 3, emerg. eff. June 17, 1976.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-1-201A. Extraterritorial application.

With respect to a consumer credit sale or consumer loan to which this Code does not otherwise apply by reason of Section 1-201, if, pursuant to a solicitation relating to a consumer credit sale or loan received in this state, a person who is a resident of this state sends a signed writing evidencing the obligation or offer of the person to a creditor in another state, and the person receives the goods or services purchased or the cash proceeds of the loan in this state:
1. The creditor may not contract for or receive charges exceeding those permitted by this Code, and such charges as do exceed those permitted are excess charges for purposes of Sections 5-202 (3) and (4) and 6-113 of the Code and such sections shall apply as though the consumer credit sale or consumer loan were made in this state; and
2. The provisions on powers and functions of administrator (Part 1 of Article 6 of this Code) shall apply as though the consumer credit sale or consumer loan were made in this state.
Added by Laws 1975, c. 129, § 1, emerg. eff. May 13, 1975.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-1-202. Exclusions.

This act does not apply to
(1) Extensions of credit to government or governmental agencies or instrumentalities;
(2) The sale of insurance by an insurer, except as otherwise provided in the article on insurance (Article 4);
(3) Transactions under public utility or common carrier tariffs if a subdivision or agency of this state or of the United States regulates the charges for the services involved, the charges for delayed payment and any discount allowed for early payment;
(4) Pawnbrokers engaging in pawn transactions as defined in the Oklahoma Pawnshop Act; or
(5) Loans made to enable the debtor to build or purchase a residence or to refinance such loan when made by a lender whose loans are supervised by an agency of the United States or made by a Federal Housing Administration approved mortgagee unless the loan is made subject to this act by agreement (Section 3-601), and except as provided with respect to disclosure (Section 3-301), debtors' remedies (Section 5-201) and loan finance charges for other loans (Section 3-605).
Added by Laws 1969, c. 352, § 1-202, eff. July 1, 1969. Amended by Laws 1972, c. 255, § 13; Laws 1980, c. 122, § 1, emerg. eff. April 15, 1980; Laws 1982, c. 335, § 2, operative June 1, 1982.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-1-302. Definition: "Federal Consumer Credit Protection Act".

In this title, "Federal Consumer Credit Protection Act" means the Consumer Credit Protection Act (Public Law 90-321; 82 Stat. 146), as amended, including the amendments to the Federal Consumer Credit Protection Act in the Truth in Lending Simplification and Reform Act (Public Law 96-221; 94 Stat. 168-185) and the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 11-203), and includes regulations issued pursuant to those Acts by the Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau, as applicable.
Added by Laws 1969, c. 352, § 1-302, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 3, operative Oct. 1, 1982; Laws 2013, c. 99, § 2, eff. July 1, 2013.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-1-303. Index of definitions in act.

Definitions in this title and the sections in which they appear are:
“Actuarial method” - Section 1-301(1)
“Administrator” - Section 1-301(2)
“Administrator” - Section 6-103
“Agreement” - Section 1-301(3)
“Agricultural purpose” - Section 1-301(4)
“Amount financed” - Section 2-111
“Annual percentage rate” (sale) - Section 2-304(2)
“Annual percentage rate” (loan) - Section 3-304(2)
“Cash price” - Section 2-110
“Closing costs” - Section 1-301(5)
“Conspicuous” - Section 1-301(6)
“Consumer credit insurance” - Section 4-103
“Consumer credit sale” - Section 2-104
“Consumer lease” - Section 2-106
“Consumer loan” - Section 3-104
“Corresponding nominal annual percentage rate” (sale) - Section 2-304(3)
“Corresponding nominal annual percentage rate” (loan) - Section 3-304(3)
“Credit” - Section 1-301(7)
“Credit service charge” - Section 2-109
“Earnings” - Section 1-301(8)
“Federal Consumer Credit Protection Act” - Section 1-302
“Goods” - Section 2-105(1)
“Home solicitation sale” - Section 2-501
“Lender” - Section 3-107(1)
“Lender credit card or similar arrangement” - Section 1-301(9)
“License” - Section 3-503
“Loan” - Section 3-106
“Loan finance charge” - Section 3-109
“Loan primarily secured by an interest in land” - Section 3-105
“Merchandise certificate” - Section 2-105(2)
“Official fees” - Section 1-301(11)
“Organization” - Section 1-301(12)
“Payable in installments” - Section 1-301(13)
“Person” - Section 1-301(14)
“Person related to” - Section 1-301(15)
“Precomputed (loan)” - Section 3-107(2)
“Precomputed (sale)” - Section 2-105(7)
“Presumed” or “presumption” - Section 1-301(16)
“Principal” - Section 3-107(3)
“Residential mortgage transaction” – Section 1-301(17)
“Reverse mortgage transaction” – Section 1-301(18)
“Revolving charge account” - Section 2-108
“Revolving loan account” - Section 3-108
“Sale of goods” - Section 2-105(4)
“Sale of an interest in land” - Section 2-105(6)
“Sale of services” - Section 2-105(5)
“Seller” - Section 2-107
“Seller credit card” - Section 1-301(19)
“Services” - Section 2-105(3)
“Subsection 10 mortgage” – Section 1-301(10)
“Supervised financial organization” - Section 1-301(20)
“Supervised lender” - Section 3-501(2)
“Supervised loan” - Section 3-501(1)
Added by Laws 1969, c. 352, § 1-303, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 4, operative June 1, 1982; Laws 2000, c. 217, § 2, eff. July 1, 2000.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-102. Scope.

This article applies to consumer credit sales, including home solicitation sales, and consumer leases.
Added by Laws 1969, c. 352, § 2-102, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 5, operative June 1, 1982.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-103. Definitions in article.

The following definitions apply to this act and appear in this article as follows:
"Amount financed" - Section 2-111
"Annual percentage rate" - Section 2-304(2)
"Cash price" - Section 2-110
"Consumer credit sale" - Section 2-104
"Consumer lease" - Section 2-106
"Corresponding nominal annual percentage rate" - Section 2-304(3) "Credit service charge" - Section 2-109
"Goods" - Section 2-105(1)
"Home solicitation sale" - Section 2-501
"Merchandise certificate" - Section 2-105(2)
"Precomputed" - Section 2-105(7)
"Revolving charge account" - Section 2-108
"Sale of goods" - Section 2-105(4)
"Sale of an interest in land" - Section 2-105(6)
"Sale of services" - Section 2-105(5)
"Seller" - Section 2-107
"Services" - Section 2-105(3)
Added by Laws 1969, c. 352, § 2-103, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 6, operative June 1, 1982.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-104. Definition: "Consumer credit sale".

(1) Except as provided in subsection (2), "consumer credit sale" is a sale of goods, services or an interest in land in which
(a)
credit is granted by a person who regularly engages as a seller in credit transactions of the same kind;
(b)
the buyer is a person other than an organization;
(c)
the goods, services or interest in land are purchased primarily for a personal, family or household purpose;
(d)
either the debt is payable in installments or a credit service charge is made; and
(e)
with respect to a sale of goods or services, the amount financed does not exceed Fifty Thousand Dollars ($50,000.00). The dollar amount in this paragraph shall be adjusted annually as indicated by the Consumer Financial Protection Bureau by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers, as published by the Bureau of Labor Statistics, rounded to the nearest multiple of One Hundred Dollars ($100.00) or One Thousand Dollars ($1,000.00) as applicable.
(2) Unless the sale is made subject to the Uniform Consumer Credit Code by agreement (Section 2-601), "consumer credit sale" does not include
(a)
a sale in which the seller allows the buyer to purchase goods or services pursuant to a lender credit card or similar arrangement; or
(b)
except as provided with respect to disclosure (Section 2-301) and debtors' remedies (Section 5-201), a sale of an interest in land if the credit service charge does not exceed thirteen percent (13%) per year calculated according to the actuarial method on the unpaid balances of the amount financed on the assumption that the debt will be paid according to the agreed terms and will not be paid before the end of the agreed term.
Added by Laws 1969, c. 352, § 2-104, eff. July 1, 1969. Amended by Laws 1980, c. 346, § 1, eff. Oct. 1, 1980; Laws 1982, c. 335, § 7, operative June 1, 1982; Laws 2012, c. 172, § 1, eff. July 1, 2012.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-105. Definitions: "Goods"; "Merchandise certificate"; "Services"; "Sale of goods"; "Sale of services"; "Sale of an interest in land"; "Precomputed".

(1) "Goods" includes goods not in existence at the time the transaction is entered into and merchandise certificates, but excludes money, chattel paper, documents of title, and instruments.
(2) "Merchandise certificate" means a writing issued by a seller not redeemable in cash and usable in its face amount in lieu of cash in exchange for goods or services.
(3) "Services" includes
(a)
work, labor, and other personal services:
(b)
privileges with respect to transportation, hotel and restaurant accommodations, education, entertainment, recreation, physical culture, hospital accommodations, funerals, cemetery accommodations, and the like; and
(c)
insurance provided by a person other than the insurer.
(4) "Sale of goods" includes any agreement in the form of a bailment or lease of goods if the bailee or lessee agrees to pay as compensation for use a sum substantially equivalent to or in excess of the aggregate value of the goods involved and it is agreed that the bailee or lessee will become, or for no other or a nominal consideration has the option to become, the owner of the goods upon full compliance with his obligations under the agreement.
(5) "Sale of services" means furnishing or agreeing to furnish services and includes making arrangements to have services furnished by another.
(6) "Sale of an interest in land" includes a lease in which the lessee has an option to purchase the interest and all or a substantial part of the rental or other payments previously made by him are applied to the purchase price.
(7) A sale, refinancing, or consolidation is "precomputed" if the debt is expressed as a sum comprising the amount financed and the amount of the credit service charge computed in advance.
Added by Laws 1969, c. 352, § 2-105, eff. July 1, 1969.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-106. Definition: "Consumer lease".

(1) "Consumer lease" means a lease of goods
(a)
which a lessor regularly engaged in the business of leasing makes to a person, other than an organization, who takes under the lease primarily for a personal, family or household purpose;
(b)
in which the amount payable under the lease does not exceed Fifty Thousand Dollars ($50,000.00). The dollar amount in this paragraph shall be adjusted annually as indicated by the Consumer Financial Protection Bureau by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers, as published by the Bureau of Labor Statistics, rounded to the nearest multiple of One Hundred Dollars ($100.00) or One Thousand Dollars ($1,000.00) as applicable; and
(c)
which is for a term exceeding four (4) months.
(2) "Consumer lease" does not include a lease made pursuant to a lender credit card or similar arrangement.
Added by Laws 1969, c. 352, § 2-106, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 8, operative June 1, 1982; Laws 2012, c. 172, § 2, eff. July 1, 2012.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-107. Definition: "Seller".

Except as otherwise provided, "seller" includes an assignee of the seller's right to payment but use of the term does not in itself impose on an assignee any obligation of the seller with respect to events occurring before the assignment.
Added by Laws 1969, c. 352, § 2-107, eff. July 1, 1969.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-108. Definition: "Revolving charge account".

"Revolving charge account" means an open end credit plan between a seller and a buyer under
(1) which the seller reasonably contemplates repeated transactions, which prescribes the terms of such transactions, and pursuant to which the seller will permit the buyer to purchase goods or services on credit either from the seller or pursuant to a seller credit card; and
(2) which provides for a credit service charge which is not precomputed but is computed on the outstanding unpaid balances of the buyer's account from time to time.
Added by Laws 1969, c. 352, § 2-108, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 9, operative June 1, 1982.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-109. Definition: "Credit service charge".

"Credit service charge" means a finance charge composed of the sum of
(1) all charges payable directly or indirectly by the buyer and imposed directly or indirectly by the seller as an incident to the extension of credit, including any of the following types of charges which are applicable: time price differential, service, carrying or other charge, however denominated, premium or other charge for any guarantee or insurance protecting the seller against the buyer's default or other credit loss; and
(2) charges incurred for investigating the collateral or credit worthiness of the buyer or for commissions or brokerage for obtaining the credit, irrespective of the person to whom the charges are paid or payable, unless the seller had no notice of the charges when the credit was granted. The term does not include charges as a result of default, additional charges (Section 2-202), delinquency charges (Section 2-203), deferral charges (Section 2-204), sellers points or charges of a type payable in a comparable cash transaction.
Added by Laws 1969, c. 352, § 2-109, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 10, operative June 1, 1982.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-110. Definition: "Cash price".

Except as the Administrator may otherwise prescribe by rule, the "cash price" of goods, services, or an interest in land means the price at which the goods, services, or interest in land are offered for sale by the seller to cash buyers in the ordinary course of business, and may include
(1) applicable sales, use, and excise and documentary stamp taxes;
(2) the cash price of accessories or related services such as delivery, installation, servicing, repairs, alterations, and improvements; and
(3) amounts actually paid or to be paid by the seller for registration, certificate of title, or license fees.
The cash price stated by the seller to the buyer pursuant to the provisions on disclosure (Part 3) of this article is presumed to be the cash price.
Added by Laws 1969, c. 352, § 2-110, eff. July 1, 1969.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-111. Definition: "Amount financed".

"Amount financed" means the total of the following items to the extent that payment is deferred:
(1) the cash price of the goods, services, or interest in land, less the amount of any down payment whether made in cash or in property traded in;
(2) the amount actually paid or to be paid by the seller pursuant to an agreement with the buyer to discharge a security interest in or a lien on property traded in; and
(3) if not included in the cash price
(a)
any applicable sales, use, or excise and documentary stamp taxes;
(b)
amounts actually paid or to be paid by the seller for registration, certificate of title, or license fees; and
(c)
additional charges permitted by this article (Section 2-202).
Added by Laws 1969, c. 352, § 2-111, eff. July 1, 1969.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-112. Sale of motor vehicles - Taking security in other vehicles.

A seller in a consumer credit sale of a motor vehicle may secure the debt arising from the sale by contracting for a security interest in any other motor vehicle used for the purpose of transportation of persons or property, as well as the motor vehicle which is the subject of the sale. Provided, further, that the amount of the debt secured by property other than the motor vehicle which is the subject of the sale shall be clearly set forth and when the total debt is reduced to an amount equal to or less than the amount secured by the motor vehicle which is the subject of the sale, a release of the security agreement as to such "other vehicle" will be furnished to the debtor upon request but such partial release shall not impair the security interest on the motor vehicle which was the subject of the sale. The total amount secured by any transaction authorized hereunder cannot exceed the amount of the sale price of the motor vehicle, and further, the seller cannot advance money or other things of value to be included in such consumer transaction.
Laws 1974, c. 255, § 1.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-202. Additional charges.

(1) In addition to the credit service charge permitted by this part, a seller may contract for and receive the following additional charges in connection with a consumer credit sale:
(a)
official fees that are itemized and disclosed in accordance with rules of the Administrator, reasonable closing costs, and taxes;
(b)
charges for insurance as described in subsection (2);
(c)
charges for other benefits, including insurance, conferred on the buyer, if the benefits are of value to him and if the charges are reasonable in relation to the benefits, are of a type which is not for credit, and are excluded as permissible additional charges from the credit service charge by rule adopted by the Administrator; and
(d)
charges to recover the costs associated with processing applications, including but not limited to cost of services such as credit reports and credit investigations.
(2) An additional charge may be made for insurance written in connection with the sale, other than insurance protecting the seller against the buyer's default or other credit loss,
(a)
with respect to insurance against loss of or damage to property, or against liability, if the seller furnishes a clear and specific statement in writing to the buyer, setting forth the cost of the insurance if obtained from or through the seller, and stating that the buyer may choose the person through whom the insurance is to be obtained; and
(b)
with respect to consumer credit insurance providing life, accident or health coverage, if the insurance coverage is not a factor in the approval by the seller of the extension of credit and this fact is clearly disclosed in writing to the buyer, and if, in order to obtain the insurance in connection with the extension of credit, the buyer gives specific affirmative written indication of his desire to do so after written disclosure to him of the cost thereof.
Added by Laws 1969, c. 352, § 2-202, eff. July 1, 1969. Amended by Laws 1970, c. 282, § 2; Laws 1982, c. 335, § 11, operative June 1, 1982; Laws 1991, c. 331, § 59, eff. Sept. 1, 1991.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-202.1. Return of dishonored check, negotiable order of withdrawal or share draft - fee.

The seller may charge and collect from the buyer a fee for each return by a bank or other depository institution of a dishonored check, negotiable order of withdrawal or share draft issued by the buyer in connection with a consumer credit sale. The amount of the fee shall be limited to the amount which the Oklahoma Tax Commission, Service Oklahoma, or a licensed operator may charge and collect pursuant to the provisions of Section 1121 of Title 47 of the Oklahoma Statutes. This fee shall be in addition to all other credit service charges, fees or additional charges which the seller may charge and collect from the buyer under this Code.
Added by Laws 1984, c. 51, § 1, emerg. eff. March 28, 1984. Amended by Laws 2000, c. 114, § 1, eff. Nov. 1, 2000; Laws 2022, c. 282, § 11, emerg. eff. May 19, 2022.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-202.2. Over-the-limit charge.

The seller on a revolving charge account accessed by a seller credit card or similar arrangement may contract for and collect from the buyer an over-the-limit charge of Ten Dollars ($10.00) for each time the buyer exceeds the designated credit limit on the amount. This charge shall be in addition to all other credit service charges, fees or additional charges which the seller may charge and collect from the buyer under the Uniform Consumer Credit Code, Section 1-101 et seq. of this title.
Added by Laws 1988, c. 35, § 2, operative July 1, 1988. Amended by Laws 1989, c. 122, § 1, eff. July 1, 1989.
2023 Oklahoma Statutes › Title 14A. Consumer Credit Code › §14A-2-203. Delinquency charges.

(1) With respect to a consumer credit sale, refinancing, or consolidation, including a revolving charge account, the parties may contract for a delinquency charge on any installment not paid in full within ten (10) days after its scheduled due date as follows:
(a)
an amount, not exceeding the greater of five percent (5%) of the unpaid portion of the scheduled installment or Five Dollars ($5.00), subject to adjustment pursuant to Section 1-106 of this title; or
(b)
the deferral charge, as set forth in subsection (1) of Section 2-204 of this title, that would be permitted to defer the unpaid amount of the installment for the period that it is delinquent.
However, a minimum late fee of Five Dollars ($5.00) may be contracted for by the parties under either paragraph (a) or (b) of this subsection.
(2) A delinquency charge under paragraph (a) of subsection (1) of this section may be collected only once on an installment however long it remains in default. No delinquency charge may be collected if the installment has been deferred and a deferral charge, Section 2-204 of this title, has been paid or incurred. A delinquency charge may be collected at the time it accrues or at any time thereafter.
(3) No delinquency charge may be collected on an installment which is paid in full within ten (10) days after its scheduled installment due date even though an earlier maturing installment or a delinquency charge on an earlier installment may not have been paid in full. For purposes of this subsection payments are applied first to current installments and then to delinquent installments.
(4) With regard to a revolving account, no more than one delinquency charge may be imposed in each billing cycle and it may be collected at any time after it accrues either independently of any payment made on the account or from a payment made if the seller discloses delinquency charges to the buyer on the billing statement.
Added by Laws 1969, c. 352, § 2-203, eff. July 1, 1969. Amended by Laws 1988, c. 35, § 1, operative July 1, 1988; Laws 1989, c. 122, § 2, eff. July 1, 1989; Laws 2000, c. 217, § 3, eff. July 1, 2000; Laws 2002, c. 249, § 2, eff. Nov. 1, 2002.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.