Okla. Stat. tit. 14A, § 14A-3-107
This is the official text of Okla. Stat. tit. 14A, § 14A-3-107, 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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Definitions: "Lender"; "Precomputed"; "Principal"
Official statutory text
(1) Except as otherwise provided, "lender" includes an assignee
of the lender's right to payment but use of the term does not in
itself impose on an assignee any obligation of the lender with
respect to events occurring before the assignment.
(2) A loan, refinancing, or consolidation is "precomputed" if
the debt is expressed as a sum comprising the principal and the
amount of the loan finance charge computed in advance.
(3) "Principal" of a loan means the total of
(a) the net amount paid to, receivable by, or paid or
payable for the account of the debtor;
(b) the amount of any discount excluded from the loan
finance charge (subsection (2) of Section 3-109); and
Oklahoma Statutes - Title 14A. Consumer Credit Code Page 81
(c) to the extent that payment is deferred
(i) amounts actually paid or to be paid by the lender
for registration, certificate of title, or
license fees if not included in (a); and
(ii) additional charges permitted by this article
(Section 3-202).
of the lender's right to payment but use of the term does not in
itself impose on an assignee any obligation of the lender with
respect to events occurring before the assignment.
(2) A loan, refinancing, or consolidation is "precomputed" if
the debt is expressed as a sum comprising the principal and the
amount of the loan finance charge computed in advance.
(3) "Principal" of a loan means the total of
(a) the net amount paid to, receivable by, or paid or
payable for the account of the debtor;
(b) the amount of any discount excluded from the loan
finance charge (subsection (2) of Section 3-109); and
Oklahoma Statutes - Title 14A. Consumer Credit Code Page 81
(c) to the extent that payment is deferred
(i) amounts actually paid or to be paid by the lender
for registration, certificate of title, or
license fees if not included in (a); and
(ii) additional charges permitted by this article
(Section 3-202).
Status: in_force · Read it on the official government site
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