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Oklahoma · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Okla. Stat. tit. 14A, § 14A-2-311: Consumer leases

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Where this section sits in the code
  1. OK Code
  2. Title 14A

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.

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

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