{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-3-206","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-3-206","heading":"Loan finance charge on consolidation","body":"(1) If a debtor owes an unpaid balance to a lender with respect\n\nto a consumer loan, refinancing, or consolidation, other than one\n\nmade under Section 3-508B of this title, and becomes obligated on\n\nanother consumer loan, refinancing, or consolidation with the same\n\nlender, the parties may agree to a consolidation resulting in a\n\nsingle schedule of payments. If the previous consumer loan,\n\nrefinancing, or consolidation was not precomputed, the parties may\n\nagree to add the unpaid amount of principal and accrued charges on\n\nthe date of consolidation to the principal with respect to the\n\nsubsequent loan. If the previous consumer loan, refinancing, or\n\nconsolidation was precomputed, the parties may agree to refinance\n\nthe unpaid balance pursuant to the provisions on refinancing\n\n(Section 3-205) and to consolidate the principal resulting from the\n\nrefinancing by adding it to the principal with respect to the\n\nsubsequent loan. In either case the lender may contract for and\n\nreceive a loan finance charge based on the aggregate principal\n\nresulting from the consolidation at a rate not in excess of that\n\npermitted by the provisions on loan finance charge for consumer\n\nloans (Section 3-201) or the provisions on loan finance charge for\n\nsupervised loans (Section 3-508A), whichever is appropriate.\n\n(2) The parties may agree to consolidate the unpaid balance of\n\na consumer loan, other than one made under Section 3-508B of this\n\ntitle, with the unpaid balance of a consumer credit sale. The\n\nparties may agree to refinance the previous unpaid balance pursuant\n\nto the provisions on refinancing sales (Section 2-205) or the\n\nprovisions on refinancing loans (Section 3-205), whichever is\n\nappropriate, and to consolidate the amount financed resulting from\n\nthe refinancing or the principal resulting from the refinancing by\n\nadding it to the amount financed or principal with respect to the\n\nsubsequent sale or loan. The aggregate amount resulting from the\n\nconsolidation shall be deemed principal, and the creditor may\n\ncontract for and receive a loan finance charge based on the\n\nprincipal at a rate not in excess of that permitted by the\n\nprovisions on loan finance charge for consumer loans (Section 3-201)\n\nor the provisions on loan finance charge for supervised loans\n\n(Section 3-508A), whichever is appropriate.","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":"79e7c576f25ae4be36c933959969b4893887ac6f4f030c9cefba51942449895a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-3-205","next":"us-ok/okla.-stat.-tit.-14a-14a-3-207"},"notice":"GroundRules: Original legal text. Not legal advice."}