Okla. Stat. tit. 14A, § 14A-2-201: Credit service charge for consumer credit sales other

than revolving charge accounts.

(1) With respect to a consumer credit sale, other than a sale

pursuant to a revolving charge account, a seller may contract for

and receive a credit service charge not exceeding that permitted by

this section.

(2) The credit service charge, calculated according to the

actuarial method, may not exceed the equivalent of the greater of

either of the following:

(a) the total of

(i) thirty percent (30%) per year on that part of the

unpaid balances of the amount financed which is

Three Hundred Dollars ($300.00) or less;

(ii) twenty-one percent (21%) per year on that part of

the unpaid balances of the amount financed which

is more than Three Hundred Dollars ($300.00) but

does not exceed One Thousand Dollars ($1,000.00);

and

(iii) fifteen percent (15%) per year on that part of

the unpaid balances of the amount financed which

is more than One Thousand Dollars ($1,000.00); or

(b) twenty-one percent (21%) per year on the unpaid

balances of the amount financed.

(3) This section does not limit or restrict the manner of

contracting for the credit service charge, whether by way of add-on,

discount, or otherwise, so long as the rate of the credit service

charge does not exceed that permitted by this section. If the sale

is precomputed

(a) the credit service charge may be calculated on the

assumption that all scheduled payments will be made

when due; and

(b) the effect of prepayment is governed by the provisions

on rebate upon prepayment (Section 2-210).

(4) For the purposes of this section, the term of a sale

agreement commences with the date the credit is granted or, if goods

are delivered or services performed ten (10) days or more after that

date, with the date of commencement of delivery or performance.

Differences in the lengths of months are disregarded and a day may

be counted as one-thirtieth (1/30) of a month. Subject to

classifications and differentiations the seller may reasonably

establish, a part of a month in excess of fifteen (15) days may be

treated as a full month if periods of fifteen (15) days or less are

disregarded and that procedure is not consistently used to obtain a

greater yield than would otherwise be permitted.

(5) Subject to classifications and differentiations the seller

may reasonably establish, he may make the same credit service charge

on all amounts financed within a specified range. A credit service

charge so made does not violate subsection (2) if

(a) when applied to the median amount within each range,

it does not exceed the maximum permitted by subsection

(2); and

(b) when applied to the lowest amount within each range,

it does not produce a rate of credit service charge

exceeding the rate calculated according to paragraph

(a) by more than eight percent (8%) of the rate

calculated according to paragraph (a).

(6) Notwithstanding subsection (2), the seller may contract for

and receive a minimum credit service charge of not more than Five

Dollars ($5.00) when the amount financed does not exceed Seventy-

five Dollars ($75.00) or not more than Seven Dollars and fifty cents

($7.50) when the amount financed exceeds Seventy-five Dollars

($75.00).