{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-3-508b","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-3-508B","heading":"Loan finance charge for loans with principal of Three","body":"Thousand Dollars or less.\n\n1. On loans having a principal of Three Thousand Dollars\n\n($3,000.00) or less, a supervised lender may charge in lieu of the\n\nloan finance charges specified in Section 3-508A of this title, the\n\nfollowing amounts:\n\na. on any amount up to and including One Hundred Sixty-\n\none Dollars and ninety-five cents ($161.95), there\n\nshall be allowed an acquisition charge for making the\n\nloan not in excess of one-tenth (1/10) of the amount\n\nof the principal. In addition thereto, a handling\n\ncharge may be added at the ratio of Five Dollars and\n\nforty cents ($5.40) for each Twenty-seven Dollars\n\n($27.00) of principal,\n\nb. on any loan in an amount in excess of One Hundred\n\nSixty-one Dollars and ninety-five cents ($161.95) up\n\nto and including the amount of One Hundred Eighty-nine\n\nDollars ($189.00), there shall be allowed an\n\nacquisition charge for making the loan not in excess\n\nof one-tenth (1/10) of the amount of the principal.\n\nIn addition thereto, an installment account handling\n\ncharge shall be allowed not to exceed Sixteen Dollars\n\nand twenty cents ($16.20) per month,\n\nc. on any loan of an amount in excess of One Hundred\n\nEighty-nine Dollars ($189.00) but not more than Three\n\nHundred Seventy-eight Dollars ($378.00), there shall\n\nbe allowed an acquisition charge for making the loan\n\nnot in excess of one-tenth (1/10) of the amount of the\n\nprincipal. In addition thereto, an installment\n\naccount handling charge shall be allowed not to exceed\n\nEighteen Dollars and ninety cents ($18.90) per month,\n\nd. on any loan of an amount in excess of Three Hundred\n\nSeventy-eight Dollars ($378.00) but not in excess of\n\nFive Hundred and Forty Dollars ($540.00), there shall\n\nbe allowed an acquisition charge for making the loan,\n\nnot in excess of one-tenth (1/10) of the amount of the\n\nprincipal. In addition thereto, an installment\n\naccount handling charge shall be allowed not to exceed\n\nTwenty-one Dollars and sixty cents ($21.60) per month,\n\ne. on any loan in an amount in excess of Five Hundred\n\nForty Dollars ($540.00) up to and including the amount\n\nof Eight Hundred Ten Dollars ($810.00), there shall be\n\nallowed an acquisition charge for making the loan not\n\nin excess of one-tenth (1/10) of the amount of the\n\nprincipal. In addition thereto, an installment\n\naccount handling charge shall be allowed not to exceed\n\nTwenty-four Dollars and thirty cents ($24.30) per\n\nmonth,\n\nf. on any loan of an amount in excess of Eight Hundred\n\nTen Dollars ($810.00) but not more than One Thousand\n\nEighty Dollars ($1,080.00), there shall be allowed an\n\nacquisition charge for making the loan not in excess\n\nof one-tenth (1/10) of the amount of the principal.\n\nIn addition thereto, an installment account handling\n\ncharge shall be allowed not to exceed Twenty-seven\n\nDollars ($27.00) per month,\n\ng. on any loan of an amount in excess of One Thousand\n\nEighty Dollars ($1,080.00) but not more than One\n\nThousand Three Hundred Fifty Dollars ($1,350.00),\n\nthere shall be allowed an acquisition charge for\n\nmaking the loan not in excess of one-tenth (1/10) of\n\nthe amount of the principal. In addition thereto, an\n\ninstallment account handling charge shall be allowed\n\nnot to exceed Twenty-nine Dollars and seventy cents\n\n($29.70) per month,\n\nh. on any loan of an amount in excess of One Thousand\n\nThree Hundred Fifty Dollars ($1,350.00) but not more\n\nthan One Thousand Six Hundred Twenty Dollars\n\n($1,620.00), there shall be allowed an acquisition\n\ncharge for making the loan not in excess of one-tenth\n\n(1/10) of the amount of the principal. In addition\n\nthereto, an installment account handling charge shall\n\nbe allowed not to exceed Thirty-two Dollars and forty\n\ncents ($32.40) per month,\n\ni. on any loan of an amount in excess of One Thousand Six\n\nHundred Twenty Dollars ($1,620.00) but not more than\n\nTwo Thousand Dollars ($2,000.00), there shall be\ne for making the loan not in excess of one-tenth\n\n(1/10) of the amount of the principal. In addition\n\nthereto, an installment account handling charge shall\n\nbe allowed not to exceed Thirty-two Dollars and forty\n\ncents ($32.40) per month,\n\ni. on any loan of an amount in excess of One Thousand Six\n\nHundred Twenty Dollars ($1,620.00) but not more than\n\nTwo Thousand Dollars ($2,000.00), there shall be\n\nallowed an acquisition charge for making the loan not\n\nin excess of one-tenth (1/10) of the amount of\n\nprincipal. In addition thereto, an installment\n\naccount handling charge shall be allowed not to exceed\n\nForty Dollars ($40.00) per month,\n\nj. on any loan of an amount in excess of Two Thousand\n\nDollars ($2,000.00) but not more than Two Thousand\n\nFive Hundred Dollars ($2,500.00), there shall be\n\nallowed an acquisition charge for making the loan not\n\nin excess of one-tenth (1/10) of the amount of\n\nprincipal. In addition thereto, an installment\n\naccount handling charge shall be allowed not to exceed\n\nFifty Dollars ($50.00) per month, and\n\nk. on any loan of an amount in excess of Two Thousand\n\nFive Hundred Dollars ($2,500.00) but not more than\n\nThree Thousand Dollars ($3,000.00), there shall be\n\nallowed an acquisition charge for making the loan not\n\nin excess of one-tenth (1/10) of the amount of\n\nprincipal. In addition thereto, an installment\n\naccount handling charge shall be allowed not to exceed\n\nSixty Dollars ($60.00) per month.\n\n2. The maximum term of any loan made under the terms of this\n\nsection shall be one (1) month for each Ten Dollars ($10.00) of\n\nprincipal up to a maximum term of eighteen (18) months. Provided,\n\nhowever, that under subparagraphs e through i of paragraph 1 of this\n\nsection the maximum terms shall be one (1) month for each Twenty\n\nDollars ($20.00) of principal up to a maximum term of eighteen (18)\n\nmonths, and under subparagraphs j and k of paragraph 1 of this\n\nsection, the maximum terms shall be one (1) month for each Twenty\n\nDollars ($20.00) of principal to a maximum term of twenty-four (24)\n\nmonths.\n\n3. The minimum term of any loan made under the terms of\n\nsubparagraphs a through k of paragraph 1 of this section shall be no\n\nless than sixty (60) days. Any loan made under the terms of this\n\nsection shall be scheduled to be payable in substantially equal\n\ninstallments at not less than thirty-day intervals, with the first\n\ninstallment to be scheduled to be due not less than one (1) calendar\n\nmonth after the date such loan is made.\n\n4. Loans made under this section may be refinanced or\n\nconsolidated according to the provisions of this section,\n\nnotwithstanding anything in Section 2-101 et seq. of this title to\n\nthe contrary. When a loan made under this section is refinanced or\n\nconsolidated, installment account handling charges on the loans\n\nbeing refinanced or consolidated must be rebated pursuant to the\n\nprovisions regarding rebate on prepayment (Section 3-210 of this\n\ntitle) as of the date of refinancing or consolidation. For the\n\npurpose of determining the amount of acquisition and installment\n\naccount handling charges permitted in relation to the refinancing or\n\nthe consolidation of loans made under this section, the principal\n\nresulting from the refinancing or consolidation is the total of the\n\nunpaid balances of the principal of the loans being refinanced or\n\nconsolidated, plus any new money advanced, and any delinquency or\n\ndeferral charges if due and unpaid, less any unearned acquisition\n\nand installment account handling charges imposed in connection with\n\nloans being refinanced or consolidated.\n\n5. On such loans under this section, no insurance charges or\n\nany other charges of any nature whatsoever shall be permitted.\n\n6. Except as otherwise provided, the acquisition charge\n\nauthorized herein shall be deemed to be earned at the time a loan is\n\nmade and shall not be subject to refund. Provided, however, in a\ndling charges imposed in connection with\n\nloans being refinanced or consolidated.\n\n5. On such loans under this section, no insurance charges or\n\nany other charges of any nature whatsoever shall be permitted.\n\n6. Except as otherwise provided, the acquisition charge\n\nauthorized herein shall be deemed to be earned at the time a loan is\n\nmade and shall not be subject to refund. Provided, however, in a\n\nloan made under this section which is prepaid in full, refinanced or\n\nconsolidated within the first sixty (60) days, the acquisition\n\ncharge under this section will not be fully earned at the time the\n\nloan is made, but must be refunded pro rata at the rate of one-\n\nsixtieth (1/60) of the acquisition charge for each day from the date\n\nof the prepayment, refinancing or consolidation to the sixtieth day\n\nof the loan. On the prepayment of any loan under this section, the\n\ninstallment account handling charge shall be subject to the\n\nprovisions of Section 3-210 of this title as it relates to refunds.\n\nProvisions of Section 3-203 of this title as it relates to\n\ndelinquency charges and Section 3-204 of this title as it relates to\n\ndeferral charges shall apply to loans made under the section.","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":"9305ed078c7ca9e54aa6b42bc2946c4171508c667d7afd325e5be2c50eba1c13","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-3-508a","next":"us-ok/okla.-stat.-tit.-14a-14a-3-508c"},"notice":"GroundRules: Original legal text. Not legal advice."}