{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-3-109","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-3-109","heading":"Definition: \"Loan finance charge\"","body":"(1) (a) \"Loan finance charge\" means a finance charge composed\n\nof the sum of:\n\n(i) all charges payable directly or indirectly by the\n\ndebtor and imposed directly or indirectly by the\n\nlender as an incident to the extension of credit,\n\nincluding any of the following types of charges,\n\nwhich are applicable: interest or any amount\n\npayable under a point, discount, or other system\n\nof charges, however denominated, premium or other\n\ncharge for any guarantee or insurance protecting\n\nthe lender against the debtor's default or other\n\ncredit loss; and\n\n(ii) charges incurred for investigating the collateral\n\nor credit worthiness of the debtor or for\n\ncommissions or brokerage for obtaining the\n\ncredit, irrespective of the person to whom the\n\ncharges are paid or payable unless the lender had\n\nno notice of the charges when the loan was made.\n\n(b) The term does not include charges as a result of\n\ndefault, additional charges under Sections 3-202 and\n\nsubsection (4) of 3-508A of this title, delinquency\n\ncharges under Section 3-203 of this title, deferral\n\ncharges under Section 3-204 of this title, charges of\n\na type payable in a comparable cash transaction, or\n\nsellers points. The finance charge shall not include\n\nfees and amounts imposed by third-party closing\n\nagents, including settlement agents, attorneys, and\n\nescrow and title companies, if the creditor does not\n\nrequire the imposition of the charges or the services\n\nprovided and does not retain the charges. Examples of\n\ncharges which are included in the finance charge\n\ninclude any of the following types of charges which\n\nare applicable:\n\n(i) Interest, time price differential, and any amount\n\npayable under a point, discount, or other system\n\nof additional charges;\n\n(ii) Service or carrying charge;\n\n(iii) Loan fee, finder's fee, or similar charge;\n\n(iv) Fee for an investigation or credit report;\n\n(v) Premium or other charge for any guarantee or\n\ninsurance protecting the creditor against the\n\nobligor's default or other credit loss; and\n\n(vi) Borrower-paid mortgage broker fees, including\n\nfees paid directly to the broker or the lender,\n\nfor delivery to the broker, whether such fees are\n\npaid in cash or financed.\n\n(2) If a lender makes a loan to a debtor by purchasing or\n\nsatisfying obligations of the debtor pursuant to a lender credit\n\ncard or similar arrangement, and the purchase or satisfaction is\n\nmade at less than the face amount of the obligation, the discount is\n\nnot part of the loan finance charge.","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":"db6f56b0f762e6d477ffc39821430e6494fa73f2877cac8f365eba1a53c1948a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-3-108","next":"us-ok/okla.-stat.-tit.-14a-14a-3-201"},"notice":"GroundRules: Original legal text. Not legal advice."}