{"data":{"id":"us-ok/okla.-stat.-tit.-15-15-140.2","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 15, § 15-140.2","heading":"Definitions","body":"As used in this act:\n\n1. \"Commercial\" means a transaction wherein the motor vehicle\n\nwill primarily be used for business purposes rather than personal;\n\n2. \"Commissioner\" means the Insurance Commissioner;\n\n3. \"Consumer\" means an individual purchaser of a motor vehicle\n\nor borrower under a finance agreement, and includes a borrower or\n\ncontract holder as herein defined as applicable;\n\n4. \"Finance agreement\" means a loan, retail installment sales\n\ncontract, or lease for the purchase, refinancing, or lease of a\n\nmotor vehicle;\n\n5. \"Free look period\" means the period of time from the\n\neffective date of the motor vehicle financial protection product\n\nuntil the date the motor vehicle financial protection product may be\n\ncanceled without penalty, fees, or costs. This period of time shall\n\nnot be shorter than thirty (30) days;\n\n6. \"Insurer\" means an insurance company licensed, registered,\n\nor otherwise authorized to issue contractual liability insurance\n\nunder the insurance laws of this state;\n\n7. \"Motor vehicle\" means self-propelled or towed vehicles\n\ndesigned for personal or commercial use including, but not limited\n\nto, automobiles, trucks, motorcycles, recreational vehicles, all-\n\nterrain vehicles, snowmobiles, campers, boards, personal watercraft,\n\nand related trailers;\n\n8. \"Motor vehicle financial protection product\" means an\n\nagreement defined herein that protects a consumer's financial\n\ninterest in his or her current or future motor vehicle and includes,\n\nbut is not limited to, debt waiver and vehicle value protection\n\nagreements. A motor vehicle financial protection product shall not\n\nmean a service warranty or vehicle protection product warranty; and\n\n9. \"Person\" means an individual, company, association,\n\norganization, partnership, business trust, corporation, and every\n\nform of legal entity.","path":["OK Code","Title 15"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os15.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"d464d6bb08ec43bf491341ba3f24e9ef06e814b45c427dd2ae5efe12ac37dc5a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-15-15-140.1","next":"us-ok/okla.-stat.-tit.-15-15-140.3"},"notice":"GroundRules: Original legal text. Not legal advice."}