Okla. Stat. tit. 14A, § 14A-2-306

account.

(1) This section applies to a consumer credit sale not made

pursuant to a revolving charge account (Section 2-310).

(2) The seller shall give to the buyer the following

information:

(a) the identity of the seller required to make

disclosure;

(b) (i) the amount financed, using that term, which shall

be the amount of credit of which the buyer has

actual use. This amount shall be computed as

follows, but the computations need not be

disclosed and shall not be disclosed with the

disclosures required to be conspicuously

segregated in accordance with the rule of the

Administrator. (aa) Take the cash price of the

goods, services, or interest in land less the

amount of the down payment paid in money and the

portion paid by an allowance for property traded

in; (bb) add any charges which are not part of

the finance charge, or of the cash price and

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 42

which are financed by the buyer, including the

cost of any items excluded from the finance

charge pursuant to Section 2-202; and (cc)

subtract any charges which are part of the

finance charge but which will be paid by the

buyer before or at the time of the consummation

of the transaction or have been withheld from the

proceeds of the credit.

(ii) In conjunction with the disclosure of the amount

financed, a seller shall provide a statement of

the buyer's right to obtain, upon a written

request, a written itemization of the amount

financed. The statement shall include spaces for

a "yes" and "no" indication to be initialed by

the buyer to indicate whether the buyer wants a

written itemization of the amount financed. Upon

receiving an affirmative indication, the seller

shall provide, at the time other disclosures are

required to be furnished, a written itemization

of the amount financed. For this purpose,

itemization of the amount financed means a

disclosure to the extent applicable of: (aa) any

amount that is or will be paid directly to the

buyer, (bb) the amount that is or will be

credited to the buyer's account to discharge

obligations owed to the seller, (cc) each amount

that is or will be paid to third persons by the

seller on the buyer's behalf, together with an

identification of or reference to the third

person, and (dd) the total amount of any charges

described in the preceding subparagraph (i)(cc).

(c) the finance charge not itemized, using that term;

(d) the finance charge expressed as an "annual percentage

rate" using that term except in the case of a finance

charge which does not exceed Five Dollars ($5.00) when

the amount financed does not exceed Seventy-five

Dollars ($75.00) or Seven Dollars and fifty cents

($7.50) when the amount financed exceeds Seventy-five

Dollars ($75.00);

(e) the sum of the amount financed and the finance charge,

which shall be termed the "total of payments";

(f) the number, amount, and due dates or period of

payments scheduled to repay the total of payments;

(g) the "total sale price" using that term, which shall be

the total of the cash price of the property or

services, additional charges, and the finance charge;

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 43

(h) descriptive explanations of the terms "amount

financed", "finance charge", "annual percentage rate",

"total of payments", and "total sale price", including

in the latter case a reference to the amount of the

down payment, as specified in the rules of the

Administrator;

(i) any dollar charge or percentage amount which may be

imposed by the seller solely on account of late

payments other than a deferral or extension charge;

(j) where the credit is secured, a statement that a

security interest has been taken in the property which

is purchased as part of the credit transaction, or

property not purchased as part of the credit

transaction identified by item or type;
ny dollar charge or percentage amount which may be

imposed by the seller solely on account of late

payments other than a deferral or extension charge;

(j) where the credit is secured, a statement that a

security interest has been taken in the property which

is purchased as part of the credit transaction, or

property not purchased as part of the credit

transaction identified by item or type;

(k) a statement indicating whether or not the buyer is

entitled to a rebate of any finance charge upon

refinancing or prepayment in full pursuant to

acceleration or otherwise if the obligation involves a

precomputed finance charge, and a statement indicating

whether or not a penalty will be imposed in those same

circumstances if the obligation involves a finance

charge computed from time to time by application of a

rate to the unpaid principal balance;

(l) a statement that the buyer should refer to the

appropriate contract document for any information the

document provides about nonpayment, default, the right

to accelerate the maturity of the debt, and prepayment

rebates and penalties; and

(m) in any transaction in which a mortgage, deed of trust,

purchase money security interest arising under an

installment sales contract, or equivalent consensual

security interest is created or retained against the

buyer's dwelling to finance the acquisition or initial

construction of the dwelling, a statement indicating

whether a subsequent purchaser or assignee of the

buyer may assume the debt obligation on its original

terms and conditions.