Okla. Stat. tit. 14A, § 14A-2-310.1

solicitation.

Disclosure in credit and charge card applications and

solicitation.

(1) Any application to open a credit card account for any

person under a revolving charge account plan, or a solicitation to

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 49

open such an account without requiring an application that is mailed

to consumers shall disclose the following information, subject to

subsection (8) of this section and subsections (5) through (8) of

Section 2-302 of this title.

(a) Each annual percentage rate applicable to extensions

of credit under such credit plan.

(b) Where an extension of credit is subject to a variable

rate, the fact that the rate is variable, the annual

percentage rate in effect at the time of the mailing,

and how the rate is determined.

(c) Where more than one rate applies, the range of

balances to which each rate applies.

(d) Any annual fee, other periodic fee, or membership fee

imposed for the issuance or availability of a credit

card, including any account maintenance fee or other

charge imposed based on activity or inactivity for the

account during the billing cycle.

(e) Any minimum finance charge imposed for each period

during which any extension of credit which is subject

to a finance charge is outstanding.

(f) Any transaction charge imposed in connection with use

of the card to purchase goods or services.

(g) The date by which or the period within which any

credit extended under such credit plan for purchases

of goods or services must be repaid to avoid incurring

a credit service charge, and, if no such period is

offered, such fact shall be clearly stated.

(h) If the length of such "grace period" varies, the card

issuer may disclose the range of days in the grace

period, the minimum number of days in the grace

period, or the average number of days in the grace

period, if the disclosure is identified as such.

(i) The name of the balance calculation method used in

determining the balance on which the credit service

charge is computed if the method used has been defined

by the Administrator, or a detailed explanation of the

balance calculation method used if the method has not

been so defined.

(j) In prescribing rules to carry out the requirement of

paragraph (i) of this subsection, the Administrator

shall define and name not more than the five (5)

balance calculation methods determined by the

Administrator to be the most commonly used methods.

(2) In addition to the information required to be disclosed

under subsection (1) of this section each application or

solicitation to which such subsection applies shall disclose clearly

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 50

and conspicuously the following information, subject to subsections

(8) and (9) of this section:

(a) Any fee imposed for an extension of credit in the form

of cash.

(b) Any fee imposed for a late payment.

(c) Any fee imposed in connection with an extension of

credit in excess of the amount of credit authorized to

be extended with respect to such account.

(3) (a) In any telephone solicitation to open a credit card

account for any person under a revolving charge

account plan, the person making the solicitation shall

orally disclose the information described in

subsection (1) of this section.

(b) Paragraph (a) of this subsection shall not apply to

any telephone solicitation if:
of credit authorized to

be extended with respect to such account.

(3) (a) In any telephone solicitation to open a credit card

account for any person under a revolving charge

account plan, the person making the solicitation shall

orally disclose the information described in

subsection (1) of this section.

(b) Paragraph (a) of this subsection shall not apply to

any telephone solicitation if:

(i) the credit card issuer:

(aa) does not impose any fee described in

paragraph (d) of subsection (1) of this

section, or

(bb) does not impose any fee in connection with

telephone solicitations unless the consumer

signifies acceptance by using the card;

(ii) the card issuer discloses clearly and

conspicuously in writing the information

described in subsections (1) and (2) of this

section within thirty (30) days after the

consumer requests the card, but in no event later

than the date of delivery of the card; and

(iii) the card issuer discloses clearly and

conspicuously that the consumer is not obligated

to accept the card or account and the consumer

will not be obligated to pay any of the fees or

charges disclosed unless the consumer elects to

accept the card or account by using the card.

(4) (a) Any application to open a credit card account for any

person under a revolving charge account plan, and any

solicitation to open an account without requiring an

application, that is made available to the public or

contained in catalogs, magazines or other publications

shall meet the disclosure requirements of paragraph

(b), (c), or (d) of this subsection.

(b) An application or solicitation described in paragraph

(a) of this subsection meets the requirement of this

paragraph if such application or solicitation

contains:

(i) the information:

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 51

(aa) described in subsection (1) of this section

in the form required under subsections (5)

through (8) of Section 2-302 of this title

subject to subsection (8) of this section,

and

(bb) described in subsection (2) of this section

in a clear and conspicuous form, subject to

subsections (8) and (9) of this section;

(ii) a statement, in a conspicuous and prominent

location on the application or solicitation,

that:

(aa) the information is accurate as of the date

the application or solicitation was printed;

(bb) the information contained in the application

or solicitation is subject to change after

such date; and

(cc) the applicant should contact the creditor

for information on any change in the

information contained in the application or

solicitation since it was printed;

(iii) a clear and conspicuous disclosure of the date

the application or solicitation was printed; and

(iv) a disclosure, in a conspicuous and prominent

location on the application or solicitation, of a

toll free telephone number or a mailing address

at which the applicant may contact the creditor

to obtain any change in the information provided

in the application or solicitation since it was

printed.

(c) An application or solicitation described in paragraph

(a) of this subsection meets the requirement of this

paragraph if such application or solicitation:
pplication or solicitation, of a

toll free telephone number or a mailing address

at which the applicant may contact the creditor

to obtain any change in the information provided

in the application or solicitation since it was

printed.

(c) An application or solicitation described in paragraph

(a) of this subsection meets the requirement of this

paragraph if such application or solicitation:

(i) contains a statement, in a conspicuous and

prominent location on the application or

solicitation, that:

(aa) there are costs associated with the use of

credit cards; and

(bb) the applicant may contact the creditor to

request disclosure of specific information

of such costs by calling a toll free

telephone number or by writing to an address

specified in the application;

(ii) contains a disclosure, in a conspicuous and

prominent location on the application or

solicitation, of a toll free telephone number and

a mailing address at which the applicant may

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 52

contact the creditor to obtain such information;

and

(iii) does not contain any of the items described in

subsections (1) and (2) of this section.

(d) An application or solicitation meets the requirements

of this subsection if it contains, or is accompanied

by

(i) the disclosures required by paragraphs (a)

through (f) of subsection (1) of Section 2-310 of

this title;

(ii) the disclosures required by subsections (1) and

(2) of this section included clearly and

conspicuously, except that the provisions of

subsections (5) through (8) of Section 2-302 of

this title shall not apply; and

(iii) a toll free telephone number or a mailing address

at which the applicant may contact the creditor

to obtain any change in the information provided.

(e) Upon receipt of a request for any of the information

referred to in paragraph (b), (c) or (d) of this

subsection, the card issuer or the agent of such

issuer shall promptly disclose all of the information

described in subsections (1) and (2) of this section.

(5) (a) Any application or solicitation to open a charge card

account shall disclose clearly and conspicuously the

following information in the form required by

subsections (5) through (8) of Section 2-302 of this

title subject to subsection (8) of this section:

(i) Any annual fee, other periodic fee, or membership

fee imposed for the issuance or availability of

the charge card, including any account

maintenance fee or other charge imposed based on

activity or inactivity for the account during the

billing cycle.

(ii) Any transaction charge imposed in connection with

use of the card to purchase goods or services.

(iii) A statement that charges incurred by use of the

charge card are due and payable upon receipt of a

periodic statement rendered for such charge card

account.

(b) In addition to the information required to be

disclosed under paragraph (a) of this subsection each

written application or solicitation to which such

paragraph applies shall disclose clearly and

conspicuously the following information, subject to

subsections (8) and (9) of this section:

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 53

(i) Any fee imposed for an extension of credit in the

form of cash.

(ii) Any fee imposed for a late payment.

(iii) Any fee imposed in connection with an extension

of credit in excess of the amount of credit

authorized to be extended with respect to such

account.

(c) Any application to open a charge card account, and any

solicitation to open such an account without requiring

an application, that is made available to the public

or contained in catalogs, magazines, or other

publications shall contain:
ii) Any fee imposed in connection with an extension

of credit in excess of the amount of credit

authorized to be extended with respect to such

account.

(c) Any application to open a charge card account, and any

solicitation to open such an account without requiring

an application, that is made available to the public

or contained in catalogs, magazines, or other

publications shall contain:

(i) the information:

(aa) described in paragraph (a) of this

subsection in the form required under

subsections (5) through (8) of Section 2-302

of this title subject to subsection (8) of

this section; and

(bb) described in paragraph (b) of this

subsection in a clear and conspicuous form,

subject to subsections (8) and (9) of this

section;

(ii) a statement, in a conspicuous and prominent

location on the application or solicitation,

that:

(aa) the information is accurate as of the date

the application or solicitation was printed;

(bb) the information contained in the application

or solicitation is subject to change after

such date; and

(cc) the applicant should contact the creditor

for information on any change in the

information contained in the application or

solicitation since it was printed;

(iii) a clear and conspicuous disclosure of the date

the application or solicitation was printed; and

(iv) a disclosure, in a conspicuous and prominent

location on the application or solicitation, of a

toll free telephone number or a mailing address

at which the applicant may contact the creditor

to obtain any change in the information provided

in the application or solicitation since it was

printed.

(d) If a charge card permits the card holder to receive an

extension of credit under a revolving charge account

plan which is not maintained by the charge card issuer

the charge card issuer may provide the information

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 54

described in paragraphs (a) and (b) of this subsection

in the form required by such paragraphs in lieu of the

information required to be provided under subsections

(1), (2), (3) or (4) of this section with respect to

any credit extended under such plan, if the charge

card issuer discloses clearly and conspicuously to the

consumer in the application or solicitation that:

(i) the charge card issuer will make an independent

decision as to whether to issue the card;

(ii) the charge card may arrive before the decision is

made with respect to an extension of credit under

a revolving charge account plan; and

(iii) approval by the charge card issuer does not

constitute approval by the issuer of the

extension of credit.

(e) The information required to be disclosed under

subsections (1) and (2) of this section shall be

provided to the charge card holder by the creditor

which maintains such revolving charge account plan

before the first extension of credit under such plan.
charge account plan; and

(iii) approval by the charge card issuer does not

constitute approval by the issuer of the

extension of credit.

(e) The information required to be disclosed under

subsections (1) and (2) of this section shall be

provided to the charge card holder by the creditor

which maintains such revolving charge account plan

before the first extension of credit under such plan.

(f) For the purposes of this subsection, the term "charge

card" means a card, plate, or other single credit

device that may be used from time to time to obtain

credit which is not subject to a finance charge.

(6) The Administrator may, by rule, require the disclosure of

information in addition to that otherwise required by subsections

(1) through (7) of this section, and modify any disclosure of

information required by subsections (1) through (7) of this section,

in any application to open a credit card account for any person

under a revolving charge account plan or any application to open a

charge card account for any person, or a solicitation to open any

such account without requiring an application, if the Administrator

determines that such action is necessary to carry out the purposes

of, or prevent evasions of, any subsection of this section.

(7) (a) Except as provided in paragraph (b) of this

subsection, a card issuer that imposes any fee

described in subsections (1)(d) or (5)(a)(i) of this

section shall transmit to a consumer at least thirty

(30) days prior to the scheduled renewal date of the

consumer's credit or charge card account a clear and

conspicuous disclosure of:

(i) the date by which, the month by which, or the

billing period at the close of which, the account

will expire if not renewed;

(ii) the information described in subsections (1) or

(5)(a) of this section that would apply if the

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account were renewed, subject to subsection (8)

of this section; and

(iii) the method by which the consumer may terminate

continued credit availability under the account.

(b) (i) The disclosures required by this subsection may

be provided:

(aa) prior to posting a fee described in

subsection (1)(d) or paragraph (a)(i) of

subsection (5) of this section to the

account; or

(bb) with the periodic billing statement first

disclosing that the fee has been posted to

the account.

(ii) disclosures may be provided under subparagraph

(i) of this paragraph only if:

(aa) the consumer is given a thirty-day period to

avoid payment of the fee or to have the fee

recredited to the account in any case where

the consumer does not wish to continue the

availability of the credit; and

(bb) the consumer is permitted to use the card

during such period without incurring an

obligation to pay such fee.

(c) The Administrator may, by rule, provide for fewer

disclosures than are required by paragraph (a) of this

subsection in the case of an account which is

renewable for a period of less than six (6) months.

(8) (a) If the amount of any fee required to be disclosed

under the previous subsections of this section is

determined on the basis of a percentage of another

amount, the percentage used in making such

determination and the identification of the amount

against which such percentage is applied shall be

disclosed in lieu of the amount of such fee.
ble for a period of less than six (6) months.

(8) (a) If the amount of any fee required to be disclosed

under the previous subsections of this section is

determined on the basis of a percentage of another

amount, the percentage used in making such

determination and the identification of the amount

against which such percentage is applied shall be

disclosed in lieu of the amount of such fee.

(b) If a credit or charge card issuer does not impose any

fee required to be disclosed under any provision of

the previous subsections of this section, such

provision shall not apply with respect to such issuer.

(9) If the amount of any fee required to be disclosed by a

credit or charge card issuer under subsections (2), (4)(b)(i)(bb),

(5)(b) or (5)(c)(i)(bb) of this section varies from state to state,

the card issuer may disclose the range of such fees for purposes of

subsections (1) through (5) of this section in lieu of the amount

for each applicable state, if such disclosure includes a statement

that the amount of such fee varies from state to state.

(10) (a) Whenever a card issuer that offers any guarantee or

insurance for repayment of all or part of the

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outstanding balance of a revolving charge account

plan, proposes to change the person providing that

guarantee or insurance, the card issuer shall send

each insured consumer written notice of the proposed

change not less than thirty (30) days prior to the

change, including notice of any increase in the rate

or substantial decrease in coverage or service which

will result from such change. Such notice may be

included on or with the monthly statement provided to

the consumer prior to the month in which the proposed

change would take effect.

(b) In any case in which a proposed change described in

paragraph (a) of this subsection occurs, the insured

consumer shall be given the name and address of the

new guarantor or insurer and a copy of the policy or

group certificate containing the basic terms and

conditions, including the premium rate to be charged.

(c) The notices required under paragraphs (a) and (b) of

this subsection shall each include a statement that

the consumer has the option to discontinue the

insurance or guarantee.

(d) No provision of this subsection shall be construed as

superseding any provision of Oklahoma law which is

applicable to the regulation of insurance.

(e) The Administrator shall define, in rules, what

constitutes a "substantial decrease in coverage or

service" for purposes of paragraph (a) of this

subsection.