Okla. Stat. tit. 14A, § 14A-4-107: Maximum charge by creditor for insurance

(1) Except as provided in subsection (2), if a creditor

contracts for or receives a separate charge for insurance, the

amount charged to the debtor for the insurance may not exceed the

premium to be charged by the insurer, as computed at the time the

charge to the debtor is determined, conforming to any rate filings

required by law and made by the insurer with the Insurance

Department.

(2) A creditor who provides consumer credit insurance in

relation to a revolving charge account (Section 2-108) or revolving

loan account (Section 3-108) may calculate the charge to the debtor

in each billing cycle by applying the current premium rate to

(a) the average daily unpaid balance of the debt in the

cycle;

(b) the unpaid balance of the debt or a median amount

within a specified range of unpaid balances of debt on

approximately the same day of the cycle. The day of

the cycle need not be the day used in calculating the

credit service charge (Section 2-207) or loan finance

charge (Section 3-201 and Section 3-508A), but the

specified range shall be the range used for that

purpose; or

(c) the unpaid balances of principal calculated according

to the actuarial method.