{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-4-202","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-4-202","heading":"Amount of insurance","body":"(1) Except as provided in subsection (2)\n\n(a) in the case of consumer credit insurance providing\n\nlife coverage, the amount of insurance may not\n\ninitially exceed the debt; or\n\n(b) in the case of any other consumer credit insurance,\n\nthe total amount of periodic benefits payable may not\n\nexceed the total of scheduled unpaid installments of\n\nthe debt, and the amount of any periodic benefit may\n\nnot exceed the original amount of debt divided by the\n\nnumber of periodic installments in which it is\n\npayable.\n\n(2) If consumer credit insurance is provided in connection with\n\na revolving charge account or revolving loan account, the amounts\n\npayable as insurance benefits may be reasonably commensurate with\n\nthe amount of debt as it exists from time to time. If consumer\n\ncredit insurance is provided in connection with a commitment to\n\ngrant credit in the future, the amounts payable as insurance\n\nbenefits may be reasonably commensurate with the total from time to\n\ntime of the amount of debt and the amount of the commitment. If the\n\ndebt or the commitment is primarily for an agricultural purpose, and\n\nthere is no regular schedule of payments, the amounts payable as\n\ninsurance benefits may equal the total of the initial amount of debt\n\nand the amount of the commitment.","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":"6bca83a73d3c0de695feaa3b675fb7fc99b4e62f198e06db16e56a87a2c59f84","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-4-201","next":"us-ok/okla.-stat.-tit.-14a-14a-4-203"},"notice":"GroundRules: Original legal text. Not legal advice."}