Okla. Stat. tit. 14A, § 14A-3-203.1
This is the official text of Okla. Stat. tit. 14A, § 14A-3-203.1, 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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Credit to finance medical goods and services -
Official statutory text
Contract for delinquency charges.
With respect to a revolving loan account or other similar
arrangement which may be used by the debtor exclusively for the
purpose of obtaining credit to finance medical goods and services,
the parties may contract for a delinquency charge on any installment
not paid in full within ten (10) days after its scheduled due date
in an amount, not exceeding the greater of: Five Dollars ($5.00) or
five percent (5%) of the unpaid amount of the installment. For
purposes of this section, the term "installment" shall mean, with
respect to a revolving loan account, the minimum periodic payment
required to be made by the debtor under the terms of the account
agreement between the lender and the debtor.
With respect to a revolving loan account or other similar
arrangement which may be used by the debtor exclusively for the
purpose of obtaining credit to finance medical goods and services,
the parties may contract for a delinquency charge on any installment
not paid in full within ten (10) days after its scheduled due date
in an amount, not exceeding the greater of: Five Dollars ($5.00) or
five percent (5%) of the unpaid amount of the installment. For
purposes of this section, the term "installment" shall mean, with
respect to a revolving loan account, the minimum periodic payment
required to be made by the debtor under the terms of the account
agreement between the lender and the debtor.
Status: in_force · Read it on the official government site
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