{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-3-310","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-3-310","heading":"Estimates of disclosures","body":"(1) In the case of any extension of credit that is secured by\n\nthe dwelling of a consumer, which is also subject to the Real Estate\n\nSettlement Procedures Act, 12 U.S.C. Sections 2601 et seq., good-\n\nfaith estimates of the disclosures required by this part shall be\n\nmade in accordance with the rules of the Administrator of Consumer\n\nCredit and shall be delivered or placed in the mail not later than\n\nthree (3) business days after the creditor receives the consumer’s\n\nwritten application, which shall be at least seven (7) business days\n\nbefore consummation of the transaction.\n\n(2) In the case of an extension of credit that is secured by\n\nthe dwelling of a consumer, the disclosures provided for in\n\nsubsection (1) of this section shall be in addition to the other\n\ndisclosures required by this part and shall:\n\n(a) state in conspicuous type size and format, the\n\nfollowing: “You are not required to complete this\n\nagreement merely because you have received these\n\ndisclosures or signed a loan application”, and\n\n(b) be provided in the form of final disclosures at the\n\ntime of consummation of the transaction, in the form\n\nand manner prescribed by this section.\n\n(3) In the case of an extension of credit that is secured by\n\nthe dwelling of a consumer, under which the annual rate of interest\n\nis variable, or with respect to which the regular payments may\n\notherwise be variable, in addition to the other disclosures required\n\nby this part, the disclosures provided under this section shall do\n\nthe following:\n\n(a) label the payment schedule as follows: “Payment\n\nSchedule: Payments will vary based on Interest Rate\n\nChanges”, and\n\n(b) state in conspicuous type size and format examples of\n\nadjustments to the regular required payment on the\n\nextension of credit based on the change in interest\n\nrates specified by the contract for such extension of\n\ncredit. Among the examples required to be provided is\n\nan example that reflects the maximum payment amount of\n\nthe regular required payments on the extension of\n\ncredit, based on the maximum interest rate allowed\n\nunder the contract, in accordance with rules of the\n\nAdministrator.\n\n(4) In any case in which the disclosure statement under\n\nsubsection (1) of this section contains an annual percentage rate of\n\ninterest that is no longer accurate, the creditor shall furnish an\n\nadditional corrected statement to the consumer, not later than three\n\n(3) business days before the date of consummation of the\n\ntransaction.\n\n(5) The consumer shall receive the required disclosures before\n\npaying any fee to the creditor or other person in connection with\n\nthe consumer’s application for an extension of credit that is\n\nsecured by the dwelling of a consumer. If the disclosures are\n\nmailed to the consumer, the consumer is considered to have received\n\nthem three (3) business days after they are mailed. A creditor or\n\nother person may impose a fee for obtaining the consumer’s credit\n\nreport before the consumer has received the disclosures under this\n\nsection, provided the fee is bona fide and reasonable in amount.\n\n(6) To expedite the consummation of a transaction, if the\n\nconsumer determines that the extension of credit is needed to meet a\n\nbona fide personal financial emergency, the consumer may waive or\n\nmodify the timing requirements for disclosures under subsection (1)\n\nof this section, provided that:\n\n(a) the term “bona fide personal emergency” may be further\n\ndefined by rules of the Administrator,\n\n(b) the consumer provides to the creditor a dated, written\n\nstatement describing the emergency and specifically\n\nwaiving or modifying those timing requirements, which\n\nstatement shall bear the signature of all consumers\n\nentitled to receive disclosures required by this\n\nsection, and\nay be further\n\ndefined by rules of the Administrator,\n\n(b) the consumer provides to the creditor a dated, written\n\nstatement describing the emergency and specifically\n\nwaiving or modifying those timing requirements, which\n\nstatement shall bear the signature of all consumers\n\nentitled to receive disclosures required by this\n\nsection, and\n\n(c) the creditor provides to the consumers at or before\n\nthe time of such waiver or modification, the final\n\ndisclosures required by this part.\n\n(7) The requirements set forth in subsections (1) through (5)\n\nof this section shall not apply in the case of an extension of\n\ncredit relating to a plan described in 11 U.S.C. Section 101(53D).","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":"9ceb36a7e82216699351517215e01fd47d1a206e6fc59d8a540a0c3491c5a453","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-3-309.5","next":"us-ok/okla.-stat.-tit.-14a-14a-3-312"},"notice":"GroundRules: Original legal text. Not legal advice."}