Okla. Stat. tit. 15, § 15-140: Credit agreements - Actions to enforce or seek damages -

limits to actions on oral agreements.

A. As used in this section:

1. "Credit agreement" means an agreement by a financial

institution to lend money, extend credit or otherwise make any other

financial accommodation, or to renew, extend, modify, rearrange or

forebear the repayment of any such loan, extension of credit or

financial accommodation, but does not include any promissory note,

real estate mortgage, or security agreement.

2. "Financial institution" means any bank, savings and loan

association, or credit union, or any holding company or subsidiary

thereof.

3. "Lender" means a financial institution that makes a credit

agreement with a borrower.

4. "Borrower" means a person who seeks a credit agreement with

a lender or financial institution as defined herein or to whom money

is loaned, credit is extended, or any other financial accommodation

is made or for whom any such loan, extension of credit or financial

accommodation is renewed, extended, modified, rearranged or forborne

by a lender or financial institution as defined herein.

B. No lender or borrower may maintain an action to enforce or

seek damages for the breach of any term or condition of credit

agreement having a principal amount greater than Fifteen Thousand

Dollars ($15,000.00), unless such term or condition has been agreed

to in writing and signed by the party against whom it is sought to

be enforced or against whom damages are sought.

C. The provisions of this section shall not be construed to

preclude a lender from maintaining an action against a borrower,

whether or not a credit agreement has been signed by the borrower,

with respect to any of the following:

1. Credit extended on an "account", as such term is defined in

Section 4-104 of Title 12A of the Oklahoma Statutes; or

2. Credit extended pursuant to a "lender credit card or similar

arrangement" or a "revolving loan account", as such terms are

defined, respectively, in Sections 1-301 and 3-108 of Title 14A of

the Oklahoma Statutes, if the terms or conditions relevant thereto

are in writing and are provided to the borrower prior to his usage

of the card or account or otherwise in accordance with applicable

law.

D. The provisions of this section shall be effective with

respect to credit agreements entered into after the effective date

of this act.