{"data":{"id":"us-ok/okla.-stat.-tit.-59-59-3106","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 59, § 59-3106","heading":"Prohibited acts","body":"A deferred deposit lender shall not:\n\n1. Charge fees other than, or in excess of those authorized by\n\nthe Deferred Deposit Lending Act;\n\n2. Make deferred deposit loans at unlicensed locations;\n\n3. Alter or delete the date on an instrument after it has been\n\naccepted by the lender pursuant to a deferred deposit loan;\n\n4. Accept an undated instrument or an instrument dated on a\n\ndate other than the date of the deferred deposit loan;\n\n5. Accept an instrument unless the account on which the\n\ninstrument is drawn is a legitimate, open and active account;\n\n6. Require a debtor to provide security for the deferred\n\ndeposit loan or require a debtor to provide a guaranty from another\n\nperson;\n\n7. Advance a loan amount greater than Five Hundred Dollars\n\n($500.00) to a borrower in one deferred deposit loan transaction\n\nexclusive of the finance charge allowed in Section 3108 of this\n\ntitle;\n\n8. Engage in a deferred deposit loan with a term of less than\n\ntwelve (12) days or more than forty-five (45) days;\n\n9. Negotiate or present an instrument for payment unless the\n\ninstrument is endorsed with the actual business name of the lender;\n\n10. Negotiate any instrument presented by a borrower if the\n\nborrower has redeemed the instrument by paying the full amount due\n\nunder the deferred deposit loan;\n\n11. Make any charge for insurance in connection with a deferred\n\ndeposit loan transaction;\n\n12. Refuse the borrower’s right to rescind the deferred deposit\n\nloan at any time between the time of the deferred deposit loan\n\ntransaction and 5 p.m. of the next business day following the\n\ndeferred deposit loan transaction;\n\n13. Charge the borrower an additional finance charge or fee for\n\ncashing a lender’s business instrument, if the lender pays the\n\nproceeds from the loan transaction in the form of a business\n\ninstrument;\n\n14. Require or accept more than one dated instrument per\n\ndeferred deposit loan; or\n\n15. Refuse the borrower’s right to enter into an installment\n\npayment plan, pursuant to this act.","path":["OK Code","Title 59"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os59.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"1b08fe2eac00d83f62f4d14f62051ef28b58ab66ef1ed1feeda25a792f4017c4","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-59-59-3105","next":"us-ok/okla.-stat.-tit.-59-59-3107"},"notice":"GroundRules: Original legal text. Not legal advice."}