Okla. Stat. tit. 14A, § 14A-2-309
This is the official text of Okla. Stat. tit. 14A, § 14A-2-309, 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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Estimates of disclosures
Official statutory text
(1) In the case of a 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 in the buyer's principal dwelling to finance the
acquisition or initial construction of that dwelling, if that
transaction is also subject to the Real Estate Settlement Procedures
Act, 12 U.S.C. Sections 2601 et seq., good faith estimates of the
disclosures required by this part shall be made in accordance with
the rules of the Administrator concerning estimates before the
credit is extended, or shall be delivered or placed in the mail not
later than three (3) business days after the seller receives the
buyer's written application, whichever is earlier. If the
disclosure statement furnished within three (3) days of the written
application contains an annual percentage rate which is subsequently
rendered inaccurate within the meaning of Section 2-304(5) (a) and
(c), the seller shall furnish another statement at the time of
settlement or consummation.
(2) If a consumer credit sale is one of a series of consumer
credit sales transactions made pursuant to an agreement providing
for the addition of the deferred payment price of that sale to an
existing outstanding balance, and the buyer has approved in writing
both the annual percentage rate or rates and the method of computing
the finance charge or charges, and the seller retains no security
interest in any property as to which payments aggregating the amount
of the sales price including any finance charges attributable
thereto have been received, the disclosure required under this part
for the particular sale may be made at any time not later than the
date the first payment for that sale is due. For the purpose of
this subsection, in the case of items purchased on different dates,
the first purchased shall be deemed first paid for, and in the case
of items purchased on the same date, the lowest priced shall be
deemed first paid for.
trust, purchase money security interest arising under an installment
sales contract, or equivalent consensual security interest is
created or retained in the buyer's principal dwelling to finance the
acquisition or initial construction of that dwelling, if that
transaction is also subject to the Real Estate Settlement Procedures
Act, 12 U.S.C. Sections 2601 et seq., good faith estimates of the
disclosures required by this part shall be made in accordance with
the rules of the Administrator concerning estimates before the
credit is extended, or shall be delivered or placed in the mail not
later than three (3) business days after the seller receives the
buyer's written application, whichever is earlier. If the
disclosure statement furnished within three (3) days of the written
application contains an annual percentage rate which is subsequently
rendered inaccurate within the meaning of Section 2-304(5) (a) and
(c), the seller shall furnish another statement at the time of
settlement or consummation.
(2) If a consumer credit sale is one of a series of consumer
credit sales transactions made pursuant to an agreement providing
for the addition of the deferred payment price of that sale to an
existing outstanding balance, and the buyer has approved in writing
both the annual percentage rate or rates and the method of computing
the finance charge or charges, and the seller retains no security
interest in any property as to which payments aggregating the amount
of the sales price including any finance charges attributable
thereto have been received, the disclosure required under this part
for the particular sale may be made at any time not later than the
date the first payment for that sale is due. For the purpose of
this subsection, in the case of items purchased on different dates,
the first purchased shall be deemed first paid for, and in the case
of items purchased on the same date, the lowest priced shall be
deemed first paid for.
Status: in_force · Read it on the official government site
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