Okla. Stat. tit. 14A, § 14A-2-106
This is the official text of Okla. Stat. tit. 14A, § 14A-2-106, part of Oklahoma’s Stat. tit. 14A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 14A,." Browse the sections below, each linked to its official government source.
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Definition: "Consumer lease"
Official statutory text
(1) "Consumer lease" means a lease of goods
(a) which a lessor regularly engaged in the business of
leasing makes to a person, other than an organization,
who takes under the lease primarily for a personal,
family or household purpose;
(b) in which the amount payable under the lease does not
exceed Fifty Thousand Dollars ($50,000.00). The
dollar amount in this paragraph shall be adjusted
annually as indicated by the Consumer Financial
Protection Bureau by the annual percentage increase in
the Consumer Price Index for Urban Wage Earners and
Clerical Workers, as published by the Bureau of Labor
Statistics, rounded to the nearest multiple of One
Hundred Dollars ($100.00) or One Thousand Dollars
($1,000.00) as applicable; and
(c) which is for a term exceeding four (4) months.
Oklahoma Statutes - Title 14A. Consumer Credit Code Page 23
(2) "Consumer lease" does not include a lease made pursuant to
a lender credit card or similar arrangement.
(a) which a lessor regularly engaged in the business of
leasing makes to a person, other than an organization,
who takes under the lease primarily for a personal,
family or household purpose;
(b) in which the amount payable under the lease does not
exceed Fifty Thousand Dollars ($50,000.00). The
dollar amount in this paragraph shall be adjusted
annually as indicated by the Consumer Financial
Protection Bureau by the annual percentage increase in
the Consumer Price Index for Urban Wage Earners and
Clerical Workers, as published by the Bureau of Labor
Statistics, rounded to the nearest multiple of One
Hundred Dollars ($100.00) or One Thousand Dollars
($1,000.00) as applicable; and
(c) which is for a term exceeding four (4) months.
Oklahoma Statutes - Title 14A. Consumer Credit Code Page 23
(2) "Consumer lease" does not include a lease made pursuant to
a lender credit card or similar arrangement.
Status: in_force · Read it on the official government site
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