Okla. Stat. tit. 14A, § 14A-3-205
This is the official text of Okla. Stat. tit. 14A, § 14A-3-205, 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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Loan finance charge on refinancing
Official statutory text
With respect to a consumer loan, refinancing, or consolidation,
other than one made under Section 3-508B of this title, the lender
may by agreement with the debtor refinance the unpaid balance and
may contract for and receive a loan finance charge based on the
principal resulting from the refinancing at a rate not exceeding
that permitted by the provisions on loan finance charge for consumer
Oklahoma Statutes - Title 14A. Consumer Credit Code Page 90
loans (Section 3-201) or the provisions on loan finance charge for
supervised loans (Section 3-508A), whichever is appropriate. For
the purpose of determining the loan finance charge permitted, other
than in relation to Section 3-508B, the principal resulting from the
refinancing comprises the following:
(1) if the transaction was not precomputed, the total of the
unpaid balance and the accrued charges on the date of the
refinancing, or, if the transaction was precomputed, the amount
which the debtor would have been required to pay upon prepayment
pursuant to the provisions on rebate upon prepayment (Section 3-210)
on the date of refinancing, except that for the purpose of computing
this amount no minimum charge (Section 3-210) shall be allowed; and
(2) appropriate additional charges (Section 3-202), payment of
which is deferred.
other than one made under Section 3-508B of this title, the lender
may by agreement with the debtor refinance the unpaid balance and
may contract for and receive a loan finance charge based on the
principal resulting from the refinancing at a rate not exceeding
that permitted by the provisions on loan finance charge for consumer
Oklahoma Statutes - Title 14A. Consumer Credit Code Page 90
loans (Section 3-201) or the provisions on loan finance charge for
supervised loans (Section 3-508A), whichever is appropriate. For
the purpose of determining the loan finance charge permitted, other
than in relation to Section 3-508B, the principal resulting from the
refinancing comprises the following:
(1) if the transaction was not precomputed, the total of the
unpaid balance and the accrued charges on the date of the
refinancing, or, if the transaction was precomputed, the amount
which the debtor would have been required to pay upon prepayment
pursuant to the provisions on rebate upon prepayment (Section 3-210)
on the date of refinancing, except that for the purpose of computing
this amount no minimum charge (Section 3-210) shall be allowed; and
(2) appropriate additional charges (Section 3-202), payment of
which is deferred.
Status: in_force · Read it on the official government site
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