{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-1-108","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-1-108","heading":"Effect of act on powers of organizations","body":"(1) This act prescribes maximum charges for all creditors,\n\nexcept lessors and those excluded (Section 1-202), extending\n\nconsumer credit including consumer credit sales (Section 2-104),\n\nconsumer loans (Section 3-104), and consumer related sales and loans\n\n(Section 2-602 and Section 3-602), and displaces existing\n\nlimitations on the powers of those creditors based on maximum\n\ncharges.\n\n(2) With respect to sellers of goods or services, small loan\n\ncompanies, licensed lenders, consumer and sales finance companies,\n\nindustrial banks and loan companies, and commercial banks and trust\n\ncompanies, this act displaces existing limitations on their powers\n\nbased solely on amount or duration of credit.\n\n(3) Except as provided in subsection (1) and in the article on\n\neffective date and repealer (Article 9), this act does not displace\n\nlimitations on powers of credit unions, savings banks, savings and\n\nloan associations, or other thrift institutions whether organized\n\nfor the profit of shareholders or as mutual organization.\n\n(4) Except as provided in subsections (1) and (2) and in the\n\narticle on effective date and repealer (Article 9), this act does\n\nnot displace\n\n(a) limitations on powers of supervised financial\n\norganizations (subsection (17) of Section 1-301) with\n\nrespect to the amount of a loan to a single borrower,\n\nthe ratio of a loan to the value of collateral, the\n\nduration of a loan secured by an interest in land, or\n\nother similar restrictions designed to protect\n\ndeposits, or\n\n(b) limitations on powers an organization is authorized to\n\nexercise under the laws of this state or the United\n\nStates.","path":["OK Code","Title 14A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os14A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"79332f9da20c3665fbefc82e626724f491ef3f3c8bfbf98979119c4ca8801e6a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-1-107","next":"us-ok/okla.-stat.-tit.-14a-14a-1-109"},"notice":"GroundRules: Original legal text. Not legal advice."}