Okla. Stat. tit. 14A, § 14A-2-313

(1) No seller or lessor shall engage in this state in false or

misleading advertising concerning the terms or conditions of credit

with respect to a consumer credit sale or consumer lease.

(2) Without limiting the generality of subsection (1) of this

section and without requiring a statement of rate of credit service

charge if the credit service charge is not more than 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), an

advertisement with respect to a consumer credit sale made by the

posting of a public sign, or by catalog, magazine, newspaper, radio,

television or similar mass media, is misleading if:

(a) it states the rate of credit service charge and the

rate is not stated in the form required by the

provisions on calculation of rate to be disclosed

under Section 2-304 of this title; or

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 65

(b) it states the dollar amounts of the credit service

charge or installment payments, and does not also

state the rate of any credit service charge, the

downpayment, if any, and the terms of repayment.

(3) In this section a catalog or other multiple-page

advertisement is considered a single advertisement if it clearly and

conspicuously displays a credit terms table setting forth the

information required by this section.

(4) This section imposes no liability on the owner or

personnel, as such, of any medium in which an advertisement appears

or through which it is disseminated.

(5) Advertising which complies with the Federal Consumer Credit

Protection Act does not violate subsection (2) of this section.

(6) The provisions of this section do not apply to

advertisements of residential real estate except to the extent

required by Administrator's rule.

(7) If any advertisement to aid, promote, or assist, directly

or indirectly, the extension of consumer credit through a revolving

charge account plan under which extensions of credit are secured by

the consumer's principal dwelling states, affirmatively or

negatively, any of the specific terms of the plan, including any

periodic payment amount required under such plan, such advertisement

shall also clearly and conspicuously set forth the following

information, in such form and manner as the Administrator may

require:

(a) Any fee the amount of which is determined as a

percentage of the credit limit applicable to an

account under the plan and an estimate of the

aggregate amount of other fees for opening the

account, based on the creditor's experience with the

plan and stated as a single amount or as a reasonable

range;

(b) In any case in which periodic rates may be used to

compute the credit service charge, the periodic rates

expressed as an annual percentage rate;

(c) The highest annual percentage rate which may be

imposed under the plan; and
e

aggregate amount of other fees for opening the

account, based on the creditor's experience with the

plan and stated as a single amount or as a reasonable

range;

(b) In any case in which periodic rates may be used to

compute the credit service charge, the periodic rates

expressed as an annual percentage rate;

(c) The highest annual percentage rate which may be

imposed under the plan; and

(d) Any other information the Administrator may by rule

require.

(8) If any advertisement described in subsection (7) of this

section contains a statement that any interest expense incurred with

respect to the plan is or may be tax deductible, the advertisement

shall not be misleading with respect to such deductibility.

(9) No advertisement described in subsection (7) of this

section with respect to any home equity account may refer to such

credit as "free money" or use other terms determined by the

Administrator by rule to be misleading.

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 66

(10) (a) If any advertisement described in subsection (7) of

this section includes an initial annual percentage

rate that is not determined by the index or formula

used to make later interest rate adjustments, the

advertisement shall also state with equal prominence

the current annual percentage rate that would have

been applied using the index or formula if such

initial rate had not been offered;

(b) The annual percentage rate required to be disclosed

under the paragraph (a) rate of this subsection rate

must be current as of a reasonable time given the

media involved; and

(c) Any advertisement to which paragraph (a) of this

subsection applies shall also state the period of time

during which the initial annual percentage rate

referred to in such paragraph will be in effect.

(11) If any advertisement described in subsection (7) of this

section contains a statement regarding the minimum monthly payment

under the plan, the advertisement shall also disclose, if

applicable, the fact that the plan includes a balloon payment.

(12) For purposes of this section and Section 2-310.2 of this

title, the term "balloon payment" means, with respect to any

revolving charge account plan under which extensions of credit are

secured by the consumer's principal dwelling, any repayment option

under which:

(a) the account holder is required to repay the entire

amount of any outstanding balance as of a specified

date or at the end of a specified period of time, as

determined in accordance with the terms of the

agreement pursuant to which such credit is extended;

and

(b) the aggregate amount of the minimum periodic payments

required would not fully amortize such outstanding

balance by such date or at the end of such period.

(13) (a) If an advertisement for a consumer lease includes a

statement of the amount of any payment or a statement

that any or no initial payment is required, the

advertisement shall clearly and conspicuously state,

as applicable:

(i) the transaction advertised is a lease;

(ii) the total amount of any initial payments required

on or before consummation of the lease or

delivery of the property, whichever is later;

(iii) that a security deposit is required;

(iv) the number, amount, and timing of scheduled

payments; and

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(v) with respect to a lease in which the liability of

the consumer at the end of the lease term is

based on the anticipated residual value of the

property, that an extra charge may be imposed at

the end of the lease term.

(b) No owner or employee of any entity that serves as a

medium in which an advertisement appears or through

which an advertisement is disseminated, shall be liable

under this subsection.
to a lease in which the liability of

the consumer at the end of the lease term is

based on the anticipated residual value of the

property, that an extra charge may be imposed at

the end of the lease term.

(b) No owner or employee of any entity that serves as a

medium in which an advertisement appears or through

which an advertisement is disseminated, shall be liable

under this subsection.

(c) (i) An advertisement by radio broadcast to aid,

promote, or assist, directly or indirectly, any

consumer lease shall be deemed to be in

compliance with the requirements of paragraph (a)

of this subsection if such advertisement clearly

and conspicuously:

(aa) states the information required by

subparagraphs (i) and (ii) of paragraph (a)

of this subsection;

(bb) states the number, amounts, due dates or

periods of scheduled payments, and the total

of such payments under the lease;

(cc) includes:

(I) a referral to:

(A) a toll-free telephone number

established in accordance with

subparagraph (ii) of this

paragraph that may be used by

consumers to obtain the

information required under

paragraph (a) of this subsection;

or

(B) a written advertisement that

appears in a publication in

general circulation in the

community served by the radio

station on which such

advertisement is broadcast during

the period beginning three (3)

days before any such broadcast and

ending ten (10) days after such

broadcast and includes the

information required to be

disclosed under paragraph (a) of

this subsection; and

(II) the name and dates of any publication

referred to in clause (B) of

subdivision (I) of this division; and

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(dd) any other information which the

Administrator determines necessary.

(ii) In the case of a radio broadcast advertisement

described in subparagraph (i) of this paragraph

that includes a referral to a toll-free telephone

number, the lessor who offers the consumer lease

shall:

(aa) establish such a toll-free telephone number

not later than the date on which the

advertisement including the referral is

broadcast;

(bb) maintain such telephone number for a period

of not less than ten (10) days, beginning on

the date of any such broadcast; and

(cc) provide the information required under

paragraph (a) of this subsection with

respect to the lease to any person who calls

such number.

The information required to be provided in division (cc) of this

subparagraph shall be provided verbally or, if requested by the

consumer, in written form.

Nothing in this paragraph shall affect the requirements of law

as such requirements apply to advertisement by any medium other than

radio broadcast.