Okla. Stat. tit. 14A, § 14A-3-201

supervised loans.

(1) With respect to a consumer loan other than a supervised

loan (Section 3-501), a lender may contract for and receive a loan

finance charge, calculated according to the actuarial method, not

exceeding ten percent (10%) per year on the unpaid balances of the

principal.

(2) This section does not limit or restrict the manner of

contracting for the loan finance charge, whether by way of add-on,

discount, or otherwise, so long as the rate of the loan finance

charge does not exceed that permitted by this section. If the loan

is precomputed

(a) the loan finance charge may be calculated on the

assumption that all scheduled payments will be made

when due; and

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(b) the effect of prepayment is governed by the provisions

on rebate upon prepayment (Section 3-210).

(3) For the purposes of this section, the term of a loan

commences with the date the loan is made. Differences in the

lengths of months are disregarded and a day may be counted as one-

thirtieth (1/30) of a month. Subject to classifications and

differentiations the lender may reasonably establish, a part of a

month in excess of fifteen (15) days may be treated as a full month

if periods of fifteen (15) days or less are disregarded and if that

procedure is not consistently used to obtain a greater yield than

would otherwise be permitted.

(4) With respect to a consumer loan made pursuant to a

revolving loan account

(a) the loan finance charge shall be deemed not to exceed

ten percent (10%) per year if the loan finance charge

contracted for and received does not exceed a charge

in each monthly billing cycle which is five-sixths of

one percent (5/6 of 1%) of an amount no greater than

(i) the average daily balance of the debt;

(ii) the unpaid balance of the debt on the same day of

the billing cycle; or

(iii) subject to subsection (5), the median amount

within a specified range within which the average

daily balance or the unpaid balance of the debt,

on the same day of the billing cycle, is

included: for the purposes of this subparagraph

and subparagraph (ii), a variation of not more

than four (4) days from month to month is "the

same day of the billing cycle";

(b) if the billing cycle is not monthly, the loan finance

charge shall be deemed not to exceed ten percent (10%)

per year if the loan finance charge contracted for and

received does not exceed a percentage which bears the

same relation to five-sixths of one percent (5/6 of

1%) as the number of days in the billing cycle bears

to thirty (30); and

(c) notwithstanding subsection (1), if there is an unpaid

balance on the date as of which the loan finance

charge is applied, the lender may contract for and

receive a charge not exceeding fifty cents ($0.50) if

the billing cycle is monthly or longer, or the pro

rata part of fifty cents ($0.50) which bears the same

relation to fifty cents ($0.50) as the number of days

in the billing cycle bears to thirty (30) if the

billing cycle is shorter than monthly, but no charge

may be made pursuant to this paragraph if the lender

has made an annual charge for the same period as

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permitted by the provisions on additional charges

(paragraph (c) of subsection (1) of Section 3-202).

(5) Subject to classifications and differentiations the lender

may reasonably establish, he may make the same loan finance charge

on all amounts financed within a specified range. A loan finance

charge so made does not violate subsection (1) if

(a) when applied to the median amount within each range,

it does not exceed the maximum permitted by subsection

(1); and

(b) when applied to the lowest amount within each range,

it does not produce a rate of loan finance charge

exceeding the rate calculated according to paragraph

(a) by more than eight percent (8%) of the rate

calculated according to paragraph (a).