GroundRules
← Search the law
Oklahoma · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Okla. Stat. tit. 12A, § 12A-2A-109: Option to accelerate at will

Read at publisher ↗
Where this section sits in the code
  1. OK Code
  2. Title 12A

OPTION TO ACCELERATE AT WILL

(1) A term providing that one party or his successor in

interest may accelerate payment or performance or require collateral

or additional collateral "at will" or "when he deems himself

insecure" or in words of similar import must be construed to mean

that he has power to do so only if he in good faith believes that

the prospect of payment or performance is impaired.

(2) With respect to a consumer lease, the burden of

establishing good faith under subsection (1) of this section is on

the party who exercised the power; otherwise the burden of

establishing lack of good faith is on the party against whom the

power has been exercised.

Collected 2026-09-14T18:32:36Z. Source file · JSON

Browse this collection