Okla. Stat. tit. 14A, § 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.