Okla. Stat. tit. 14A, § 14A-4-301: Property insurance

(1) A creditor may not contract for or receive a separate

charge for insurance against loss of or damage to property unless:

(a) the insurance covers a substantial risk of loss of or

damage to property related to the credit transaction;

(b) the amount, terms, and conditions of the insurance are

reasonable in relation to the character and value of

the property insured or to be insured; and

(c) the term of the insurance is reasonable in relation to

the terms of credit.

(2) The term of insurance is reasonable if it is customary and

does not extend substantially beyond a scheduled maturity.