Okla. Stat. tit. 60, § 60-175.406: Obligation to pay money

OBLIGATION TO PAY MONEY

A. An amount received as interest, whether determined at a

fixed, variable, or floating rate, on an obligation to pay money to

the trustee, including an amount received as consideration for

prepaying principal, must be allocated to income without any

provision for amortization of premium.

B. A trustee shall allocate to principal an amount received

from the sale, redemption, or other disposition of an obligation to

pay money to the trustee more than one year after it is purchased or

acquired by the trustee, including an obligation the purchase price

or value of which when it is acquired is less than its value at

maturity. If the obligation matures within one (1) year after it is

purchased or acquired by the trustee, an amount received in excess

of its purchase price or its value when acquired by the trust must

be allocated to income.

C. This section does not apply to obligations to which Section

18, 19, 20, 21, 23, or 24 of this act applies.