{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-2-203","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-2-203","heading":"Delinquency charges","body":"(1) With respect to a consumer credit sale, refinancing, or\n\nconsolidation, including a revolving charge account, the parties may\n\ncontract for a delinquency charge on any installment not paid in\n\nfull within ten (10) days after its scheduled due date as follows:\n\n(a) an amount, not exceeding the greater of five percent\n\n(5%) of the unpaid portion of the scheduled\n\ninstallment or Five Dollars ($5.00), subject to\n\nadjustment pursuant to Section 1-106 of this title; or\n\n(b) the deferral charge, as set forth in subsection (1) of\n\nSection 2-204 of this title, that would be permitted\n\nto defer the unpaid amount of the installment for the\n\nperiod that it is delinquent.\n\nHowever, a minimum late fee of Five Dollars ($5.00) may\n\nbe contracted for by the parties under either paragraph\n\n(a) or (b) of this subsection.\n\n(2) A delinquency charge under paragraph (a) of subsection (1)\n\nof this section may be collected only once on an installment however\n\nlong it remains in default. No delinquency charge may be collected\n\nif the installment has been deferred and a deferral charge, Section\n\n2-204 of this title, has been paid or incurred. A delinquency\n\ncharge may be collected at the time it accrues or at any time\n\nthereafter.\n\n(3) No delinquency charge may be collected on an installment\n\nwhich is paid in full within ten (10) days after its scheduled\n\ninstallment due date even though an earlier maturing installment or\n\na delinquency charge on an earlier installment may not have been\n\npaid in full. For purposes of this subsection payments are applied\n\nfirst to current installments and then to delinquent installments.\n\n(4) With regard to a revolving account, no more than one\n\ndelinquency charge may be imposed in each billing cycle and it may\n\nbe collected at any time after it accrues either independently of\n\nany payment made on the account or from a payment made if the seller\n\ndiscloses delinquency charges to the buyer on the billing statement.","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":"723ae25c48ab1c958a76aacb0375c63572fbbd7cccfb03f88959a73b0bdeaaee","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-2-202.2","next":"us-ok/okla.-stat.-tit.-14a-14a-2-204"},"notice":"GroundRules: Original legal text. Not legal advice."}