Okla. Stat. tit. 14A, § 14A-2-210

(1) Except as provided in subsection (2), upon prepayment in

full of the unpaid balance of a precomputed consumer credit sale,

refinancing, or consolidation, an amount not less than the unearned

portion of the credit service charge calculated according to this

section shall be rebated to the buyer. If the rebate otherwise

required is less than One Dollar ($1.00), no rebate need be made.

(2) Upon prepayment in full of a consumer credit sale,

refinancing, or consolidation, other than one pursuant to a

revolving charge account, if the credit service charge then earned

is less than any permitted minimum credit service charge (subsection

(6) of Section 2-201) contracted for, whether or not the sale,

refinancing, or consolidation is precomputed, the seller may collect

or retain the minimum charge, as if earned, not exceeding the credit

service charge contracted for.

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(3) Except as otherwise provided in this subsection with

respect to a sale of an interest in land or a consumer credit sale

secured by an interest in land, the unearned portion of the credit

service charge

(a) in a consumer credit sale payable according to its

original terms in more than sixty-one (61) months

shall be determined (i) by applying, according to the

actuarial method, the disclosed annual percentage rate

to the actual unpaid balances of the amount financed

for the actual time that the unpaid balances were

outstanding as of the date of prepayment, giving

effect to each payment, to determine the earned

portion of the credit service charge, and (ii)

subtracting that earned portion from the credit

service charge to determine the unearned portion of

the credit service charge, or

(b) in a consumer credit sale payable according to its

original terms in sixty-one (61) months or less, is a

fraction of the credit service charge of which the

numerator is the sum of the periodic balances

scheduled to follow the computational period in which

prepayment occurs, and the denominator is the sum of

all periodic balances under either the sale agreement

or, if the balance owing resulted from a refinancing

(Section 2-205) or a consolidation (Section 2-206),

under the refinancing agreement or consolidation

agreement. In the case of a sale of an interest in

land or a consumer credit sale secured by an interest

in land, reasonable sums actually paid or payable to

persons not related to the seller for customary

closing costs included in the credit service charge

are deducted from the credit service charge before the

calculation prescribed by this subsection is made.

(4) In this section:

(a) "periodic balance" means the amount scheduled to be

outstanding on the last day of a computational period

before deducting the payment, if any, scheduled to be

made on that day;

(b) "computational period" means one (1) month if one-half

(1/2) or more of the intervals between scheduled

payments under the agreement is one (1) month or more,

and otherwise means one (1) week;

(c) the "interval" to the due date of the first scheduled

installment or the final scheduled payment date is

measured from the date of a sale, refinancing, or

consolidation, or any later date prescribed for

calculating maximum credit service charges (subsection

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(4) of Section 2-201), and includes either the first

or last day of the interval; and

(d) if the interval to the due date of the first scheduled

installment does not exceed one (1) month by more than

fifteen (15) days when the computational period is one

(1) month, or eleven (11) days when the computational

period is one (1) week, the interval shall be

considered as one computational period.

(5) This subsection applies only if the schedule of payments is

not regular.

(a) If the computational period is one (1) month and
st scheduled

installment does not exceed one (1) month by more than

fifteen (15) days when the computational period is one

(1) month, or eleven (11) days when the computational

period is one (1) week, the interval shall be

considered as one computational period.

(5) This subsection applies only if the schedule of payments is

not regular.

(a) If the computational period is one (1) month and

(i) if the number of days in the interval to the due

date of the first scheduled installment is less

than one (1) month by more than five (5) days, or

more than one (1) month by more than five (5) but

not more than fifteen (15) days, the unearned

credit service charge shall be increased by an

adjustment for each day by which the interval is

less than one (1) month and, at the option of the

seller, may be reduced by an adjustment for each

day by which the interval is more than one (1)

month; the adjustment for each day shall be one-

thirtieth (1/30) of that part of the credit

service charge earned in the computational period

prior to the due date of the first scheduled

installment assuming that period to be one (1)

month; and

(ii) if the interval to the final scheduled payment

date is a number of computational periods plus an

additional number of days less than a full month,

the additional number of days shall be considered

a computational period only if sixteen (16) days

or more. This subparagraph applies whether or

not subparagraph (i) applies.

(b) Notwithstanding paragraph (a), if the computational

period is one (1) month, the number of days in the

interval to the due date of the first installment

exceeds one (1) month by not more than fifteen (15)

days, and the schedule of payments is otherwise

regular, the seller may, at his option, exclude the

extra days and the charge for the extra days in

computing the unearned credit service charge; but if

he does so and a rebate is required before the due

date of the first scheduled installment, he shall

compute the earned charge for each elapsed day as one-

thirtieth (1/30) of the amount the earned charge would

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have been if the first interval had been one (1)

month.

(c) If the computational period is one (1) week and

(i) if the number of days in the interval to the due

date of the first scheduled installment is less

than five (5) days, or more than nine (9) but not

more than eleven (11) days, the unearned credit

service charge shall be increased by an

adjustment for each day by which the interval is

less than seven (7) days and, at the option of

the seller may be reduced by an adjustment for

each day by which the interval is more than seven

(7) days; the adjustment for each day shall be

one-seventh (1/7) of that part of the credit

service charge earned in the computational period

prior to the due date of the first scheduled

installment assuming that period to be one (1)

week; and

(ii) if the interval to the final scheduled payment

date is a number of computational periods plus an

additional number of days less than a full week,

the additional number of days shall be considered

a computational period only if four (4) days or

more. This subparagraph applies whether or not

subparagraph (i) applies.

(6) If a deferral (Section 2-204) has been agreed to, the

unearned portion of the credit service charge shall be computed

without regard to the deferral. The amount of deferral charge

earned at the date of prepayment shall also be calculated. If the

deferral charge earned is less than the deferral charge paid, the

difference shall be added to the unearned portion of the credit

service charge. If any part of a deferral charge has been earned

but has not been paid, that part shall be subtracted from the

unearned portion of the credit service charge, or shall be added to

the unpaid balance.
te of prepayment shall also be calculated. If the

deferral charge earned is less than the deferral charge paid, the

difference shall be added to the unearned portion of the credit

service charge. If any part of a deferral charge has been earned

but has not been paid, that part shall be subtracted from the

unearned portion of the credit service charge, or shall be added to

the unpaid balance.

(7) This section does not preclude the collection or retention

by the seller of delinquency charges (Section 2-203).

(8) If the maturity is accelerated for any reason and judgment

is obtained, the buyer is entitled to the same rebate as if payment

had been made on the date judgment is entered.

(9) Upon prepayment in full of a consumer credit sale by the

proceeds of consumer credit insurance (Section 4-103), the buyer or

his estate is entitled to the same rebate as though the buyer had

prepaid the agreement on the date the proceeds of the insurance are

paid to the seller.

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