{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-2-207","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-2-207","heading":"Credit service charge for revolving charge accounts","body":"(1) With respect to a consumer credit sale made pursuant to a\n\nrevolving charge account, the parties to the sale may contract for\n\nthe payment by the buyer of a credit service charge not exceeding\n\nthat permitted in this section.\n\n(2) A charge may be made in each billing cycle which is a\n\npercentage of an amount no greater than\n\n(a) the average daily balance of the account;\n\n(b) the unpaid balance of the account on the same day of\n\nthe billing cycle; or\n\n(c) the median amount within a specified range within\n\nwhich the average daily balance of the account or the\n\nunpaid balance of the account on the same day of the\n\nbilling cycle is included. A charge may be made\n\npursuant to this paragraph only if the seller, subject\n\nto classifications and differentiations he may\n\nreasonably establish, makes the same charge on all\n\nbalances within the specified range and if the\n\npercentage when applied to the median amount within\n\nthe range does not produce a charge exceeding the\n\ncharge resulting from applying that percentage to the\n\nlowest amount within the range by more than eight\n\npercent (8%) of the charge on the median amount.\n\n(3) If the billing cycle is monthly, the charge may not exceed\n\none and three-fourths percent (1 3/4%). If the billing cycle is not\n\nmonthly, the maximum charge is that percentage which bears the same\n\nrelation to the applicable monthly percentage as the number of days\n\nin the billing cycle bears to thirty (30). For the purposes of this\n\nsection, a variation of not more than four (4) days from month to\n\nmonth is \"the same day of the billing cycle\".\n\n(4) Notwithstanding subsection (3), if there is an unpaid\n\nbalance on the date as of which the credit service charge is\n\napplied, the seller may contract for and receive a charge not\n\nexceeding fifty cents ($0.50), if the billing cycle is monthly or\n\nlonger, or the pro rata part of fifty cents ($0.50) which bears the\n\nsame relation to fifty cents ($0.50) as the number of days in the\n\nbilling cycle bears to thirty (30), if the billing cycle is shorter\n\nthan monthly.","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":"97eb1657c1269e3048647ca312acca50926f493e708788a7925c9d16c51b16ce","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-2-206","next":"us-ok/okla.-stat.-tit.-14a-14a-2-208"},"notice":"GroundRules: Original legal text. Not legal advice."}