{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-3-312","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-3-312","heading":"Advertising","body":"(1) No lender shall engage in this state in false or misleading\n\nadvertising concerning the terms or conditions of credit with\n\nrespect to a consumer loan.\n\n(2) Without limiting the generality of subsection (1), and\n\nwithout requiring a statement of rate of loan finance charge if the\n\nloan finance charge is not more than Five Dollars ($5.00) when the\n\nprincipal does not exceed Seventy-five Dollars ($75.00), or Seven\n\nDollars and fifty cents ($7.50) when the principal exceeds Seventy-\n\nfive Dollars ($75.00), an advertisement with respect to a consumer\n\ncredit loan made by the posting of a public sign, or by catalog,\n\nmagazine, newspaper, radio, television, or similar mass media, is\n\nmisleading if:\n\n(a) it states the rate of the loan finance charge and the\n\nrate is not stated in the form required by the\n\nprovisions on calculation of rate to be disclosed\n\n(Section 3-304), or\n\n(b) it states the dollar amounts of the loan finance\n\ncharge or installment payments, and does not also\n\nstate the rate of any loan finance charge and the\n\nterms 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).\n\n(6) The provisions of this section shall not apply to\n\nadvertisements of residential real estate except to the extent\n\nprovided by rules of the Administrator.\n\n(7) If any advertisement to aid, promote, or assist, directly\n\nor indirectly, the extension of consumer credit through a revolving\n\nloan 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 loan 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 loan finance 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) 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 3-309.2 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.","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":"41b4daa4f54b42327fa1c526e3f27326bbed5af8f8ce251378cd07ce1ea47894","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-3-310","next":"us-ok/okla.-stat.-tit.-14a-14a-3-313"},"notice":"GroundRules: Original legal text. Not legal advice."}