{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-2-313","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-2-313","heading":"Advertising","body":"(1) No seller or lessor shall engage in this state in false or\n\nmisleading advertising concerning the terms or conditions of credit\n\nwith respect to a consumer credit sale or consumer lease.\n\n(2) Without limiting the generality of subsection (1) of this\n\nsection and without requiring a statement of rate of credit service\n\ncharge if the credit service charge is not more than Five Dollars\n\n($5.00) when the amount financed does not exceed Seventy-five\n\nDollars ($75.00), or Seven Dollars and fifty cents ($7.50) when the\n\namount financed exceeds Seventy-five Dollars ($75.00), an\n\nadvertisement with respect to a consumer credit sale made by the\n\nposting of a public sign, or by catalog, magazine, newspaper, radio,\n\ntelevision or similar mass media, is misleading if:\n\n(a) it states the rate of credit service charge and the\n\nrate is not stated in the form required by the\n\nprovisions on calculation of rate to be disclosed\n\nunder Section 2-304 of this title; or\n\n(b) it states the dollar amounts of the credit service\n\ncharge or installment payments, and does not also\n\nstate the rate of any credit service charge, the\n\ndownpayment, if any, and the terms of repayment.\n\n(3) In this section a catalog or other multiple-page\n\nadvertisement is considered a single advertisement if it clearly and\n\nconspicuously displays a credit terms table setting forth the\n\ninformation required by this section.\n\n(4) This section imposes no liability on the owner or\n\npersonnel, as such, of any medium in which an advertisement appears\n\nor through which it is disseminated.\n\n(5) Advertising which complies with the Federal Consumer Credit\n\nProtection Act does not violate subsection (2) of this section.\n\n(6) The provisions of this section do not apply to\n\nadvertisements of residential real estate except to the extent\n\nrequired by Administrator's rule.\n\n(7) If any advertisement to aid, promote, or assist, directly\n\nor indirectly, the extension of consumer credit through a revolving\n\ncharge account plan under which extensions of credit are secured by\n\nthe consumer's principal dwelling states, affirmatively or\n\nnegatively, any of the specific terms of the plan, including any\n\nperiodic payment amount required under such plan, such advertisement\n\nshall also clearly and conspicuously set forth the following\n\ninformation, in such form and manner as the Administrator may\n\nrequire:\n\n(a) Any fee the amount of which is determined as a\n\npercentage of the credit limit applicable to an\n\naccount under the plan and an estimate of the\n\naggregate amount of other fees for opening the\n\naccount, based on the creditor's experience with the\n\nplan and stated as a single amount or as a reasonable\n\nrange;\n\n(b) In any case in which periodic rates may be used to\n\ncompute the credit service charge, the periodic rates\n\nexpressed as an annual percentage rate;\n\n(c) The highest annual percentage rate which may be\n\nimposed under the plan; and\ne\n\naggregate amount of other fees for opening the\n\naccount, based on the creditor's experience with the\n\nplan and stated as a single amount or as a reasonable\n\nrange;\n\n(b) In any case in which periodic rates may be used to\n\ncompute the credit service charge, the periodic rates\n\nexpressed as an annual percentage rate;\n\n(c) The highest annual percentage rate which may be\n\nimposed under the plan; and\n\n(d) Any other information the Administrator may by rule\n\nrequire.\n\n(8) If any advertisement described in subsection (7) of this\n\nsection contains a statement that any interest expense incurred with\n\nrespect to the plan is or may be tax deductible, the advertisement\n\nshall not be misleading with respect to such deductibility.\n\n(9) No advertisement described in subsection (7) of this\n\nsection with respect to any home equity account may refer to such\n\ncredit as \"free money\" or use other terms determined by the\n\nAdministrator by rule to be misleading.\n\n(10) (a) If any advertisement described in subsection (7) of\n\nthis section includes an initial annual percentage\n\nrate that is not determined by the index or formula\n\nused to make later interest rate adjustments, the\n\nadvertisement shall also state with equal prominence\n\nthe current annual percentage rate that would have\n\nbeen applied using the index or formula if such\n\ninitial rate had not been offered;\n\n(b) The annual percentage rate required to be disclosed\n\nunder the paragraph (a) rate of this subsection rate\n\nmust be current as of a reasonable time given the\n\nmedia involved; and\n\n(c) Any advertisement to which paragraph (a) of this\n\nsubsection applies shall also state the period of time\n\nduring which the initial annual percentage rate\n\nreferred to in such paragraph will be in effect.\n\n(11) If any advertisement described in subsection (7) of this\n\nsection contains a statement regarding the minimum monthly payment\n\nunder the plan, the advertisement shall also disclose, if\n\napplicable, the fact that the plan includes a balloon payment.\n\n(12) For purposes of this section and Section 2-310.2 of this\n\ntitle, the term \"balloon payment\" means, with respect to any\n\nrevolving charge account plan under which extensions of credit are\n\nsecured by the consumer's principal dwelling, any repayment option\n\nunder which:\n\n(a) the account holder is required to repay the entire\n\namount of any outstanding balance as of a specified\n\ndate or at the end of a specified period of time, as\n\ndetermined in accordance with the terms of the\n\nagreement pursuant to which such credit is extended;\n\nand\n\n(b) the aggregate amount of the minimum periodic payments\n\nrequired would not fully amortize such outstanding\n\nbalance by such date or at the end of such period.\n\n(13) (a) If an advertisement for a consumer lease includes a\n\nstatement of the amount of any payment or a statement\n\nthat any or no initial payment is required, the\n\nadvertisement shall clearly and conspicuously state,\n\nas applicable:\n\n(i) the transaction advertised is a lease;\n\n(ii) the total amount of any initial payments required\n\non or before consummation of the lease or\n\ndelivery of the property, whichever is later;\n\n(iii) that a security deposit is required;\n\n(iv) the number, amount, and timing of scheduled\n\npayments; and\n\n(v) with respect to a lease in which the liability of\n\nthe consumer at the end of the lease term is\n\nbased on the anticipated residual value of the\n\nproperty, that an extra charge may be imposed at\n\nthe end of the lease term.\n\n(b) No owner or employee of any entity that serves as a\n\nmedium in which an advertisement appears or through\n\nwhich an advertisement is disseminated, shall be liable\n\nunder this subsection.\nto a lease in which the liability of\n\nthe consumer at the end of the lease term is\n\nbased on the anticipated residual value of the\n\nproperty, that an extra charge may be imposed at\n\nthe end of the lease term.\n\n(b) No owner or employee of any entity that serves as a\n\nmedium in which an advertisement appears or through\n\nwhich an advertisement is disseminated, shall be liable\n\nunder this subsection.\n\n(c) (i) An advertisement by radio broadcast to aid,\n\npromote, or assist, directly or indirectly, any\n\nconsumer lease shall be deemed to be in\n\ncompliance with the requirements of paragraph (a)\n\nof this subsection if such advertisement clearly\n\nand conspicuously:\n\n(aa) states the information required by\n\nsubparagraphs (i) and (ii) of paragraph (a)\n\nof this subsection;\n\n(bb) states the number, amounts, due dates or\n\nperiods of scheduled payments, and the total\n\nof such payments under the lease;\n\n(cc) includes:\n\n(I) a referral to:\n\n(A) a toll-free telephone number\n\nestablished in accordance with\n\nsubparagraph (ii) of this\n\nparagraph that may be used by\n\nconsumers to obtain the\n\ninformation required under\n\nparagraph (a) of this subsection;\n\nor\n\n(B) a written advertisement that\n\nappears in a publication in\n\ngeneral circulation in the\n\ncommunity served by the radio\n\nstation on which such\n\nadvertisement is broadcast during\n\nthe period beginning three (3)\n\ndays before any such broadcast and\n\nending ten (10) days after such\n\nbroadcast and includes the\n\ninformation required to be\n\ndisclosed under paragraph (a) of\n\nthis subsection; and\n\n(II) the name and dates of any publication\n\nreferred to in clause (B) of\n\nsubdivision (I) of this division; and\n\n(dd) any other information which the\n\nAdministrator determines necessary.\n\n(ii) In the case of a radio broadcast advertisement\n\ndescribed in subparagraph (i) of this paragraph\n\nthat includes a referral to a toll-free telephone\n\nnumber, the lessor who offers the consumer lease\n\nshall:\n\n(aa) establish such a toll-free telephone number\n\nnot later than the date on which the\n\nadvertisement including the referral is\n\nbroadcast;\n\n(bb) maintain such telephone number for a period\n\nof not less than ten (10) days, beginning on\n\nthe date of any such broadcast; and\n\n(cc) provide the information required under\n\nparagraph (a) of this subsection with\n\nrespect to the lease to any person who calls\n\nsuch number.\n\nThe information required to be provided in division (cc) of this\n\nsubparagraph shall be provided verbally or, if requested by the\n\nconsumer, in written form.\n\nNothing in this paragraph shall affect the requirements of law\n\nas such requirements apply to advertisement by any medium other than\n\nradio broadcast.","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":"e741e3a10c044ede7629e2173230fdfc56168038f4466aae78d63334a9452249","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-2-311","next":"us-ok/okla.-stat.-tit.-14a-14a-2-401"},"notice":"GroundRules: Original legal text. Not legal advice."}