Okla. Stat. tit. 14A, § 14A-5-103: Restrictions on deficiency judgments in consumer credit

sales.

(1) This section applies to a consumer credit sale of goods or

services.

(2) If the seller repossesses or voluntarily accepts surrender

of goods which were the subject of the sale and in which he has a

security interest and the cash price of the goods repossessed or

surrendered was One Thousand Dollars ($1,000.00) or less, the buyer

is not personally liable to the seller for the unpaid balance of the

debt arising from the sale of the goods, and the seller is not

obligated to resell the collateral.

(3) If the seller repossesses or voluntarily accepts surrender

of goods which were not the subject of the sale but in which he has

a security interest to secure a debt arising from a sale of goods or

services or a combined sale of goods and services and the cash price

of the sale was One Thousand Dollars ($1,000.00) or less, the buyer

is not personally liable to the seller for the unpaid balance of the

debt arising from the sale.

(4) For the purpose of determining the unpaid balance of

consolidated debts or debts pursuant to revolving charge accounts,

the allocation of payments to a debt shall be determined in the same

manner as provided for determining the amount of debt secured by

various security interests (Section 2-409).

(5) The buyer shall be liable in damages to the seller if the

buyer has wrongfully damaged the collateral or if, after default and

demand, the buyer has wrongfully failed to make the collateral

available to the seller.

(6) If the seller elects to bring an action against the buyer

for a debt arising from a consumer credit sale of goods or services,

when under this section he would not be entitled to a deficiency

judgment if he repossessed the collateral, and obtains judgment

(a) he may not repossess the collateral; and

(b) the collateral is not subject to levy or sale on

execution or similar proceedings pursuant to the

judgment.

(7) The amount of One Thousand Dollars ($1,000.00) in

subsections (2) and (3) of this section is subject to adjustment

pursuant to the provisions on adjustment of dollar amounts (Section

1-106).