Okla. Stat. tit. 14A, § 14A-3-304

(1) Except as otherwise specifically provided, if a lender is

required to give to a debtor a statement of the rate of the loan

finance charge, the lender shall state the rate in terms of an

annual percentage rate as defined in subsection (2) or in terms of a

corresponding nominal annual percentage rate as defined in

subsection (3), whichever is appropriate.

(2) "Annual percentage rate"

(a) with respect to a consumer loan other than one made

pursuant to a revolving loan account, is either:

(i) that nominal annual percentage rate which, when

applied to the unpaid balances of the principal

calculated according to the actuarial method,

will yield a sum equal to the amount of the loan

finance charge; or

(ii) that rate determined by any method prescribed by

rule by the Administrator as a method which

materially simplifies computation while retaining

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reasonable accuracy as compared with the rate

determined pursuant to subparagraph (i);

(b) with respect to a consumer loan made pursuant to a

revolving loan account, is the quotient expressed as a

percentage of the total loan finance charge for the

period to which it relates divided by the amount upon

which the loan finance charge for that period is

based, multiplied by the number of these periods in a

year.

(3) "Corresponding nominal annual percentage rate" is the

percentage or percentages used to calculate the loan finance charge

for one billing cycle or other period pursuant to a revolving loan

account multiplied by the number of billing cycles or periods in a

year.

(4) If a lender is permitted to make the same loan finance

charge for all principal amounts within a specified range under

subsection (5) of Section 3-201 of this title or for all balances

within a specified range, under subsection (4) of Section 3-201 and

subsection (5) of Section 3-508A of this title, the lender shall

state the annual percentage rate or corresponding nominal annual

percentage rate, whichever is appropriate, as applied to the median

amount of the range within which the actual principal amount or

balance is included.

(5) A statement of rate complies with this part if it does not

vary from the accurately computed rate by more than the following

tolerances:

(a) the annual percentage rate may be rounded to the

nearest quarter of one percent (1/4 of 1%) or may fall

within a tolerance not greater than one-eighth of one

percent (1/8 of 1%) more or less than the actual rate

for consumer loans payable in substantially equal

installments when a lender determines the total loan

finance charge on the basis of a single add-on,

discount, periodic, or other rate, and the rate is

converted into an annual percentage rate under

procedures prescribed by rule by the Administrator;

(b) the Administrator may authorize by rule the use of

rate tables or charts which may provide for the

disclosure of annual percentage rates which vary from

the rate determined in accordance with paragraph (a)

by not more than the tolerances the Administrator may

allow; the Administrator may not allow a tolerance

greater than eight percent (8%) of that rate except to

simplify compliance where irregular payments are

involved; and

(c) in case a lender determines the annual percentage rate

in a manner other than as described in paragraph (a)

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or (b), the Administrator may authorize by rule other

reasonable tolerances.

(6) In connection with credit transactions not under an open-end

credit plan that are secured by real property or a dwelling, the

disclosure of the finance charge and other disclosures affected by

any finance charge:

(a) shall be treated as being accurate for purposes of this

title if the amount disclosed as the finance charge:
dministrator may authorize by rule other

reasonable tolerances.

(6) In connection with credit transactions not under an open-end

credit plan that are secured by real property or a dwelling, the

disclosure of the finance charge and other disclosures affected by

any finance charge:

(a) shall be treated as being accurate for purposes of this

title if the amount disclosed as the finance charge:

(i) does not vary from the actual finance charge by

more than One Hundred Dollars ($100.00); or

(ii) is greater than the amount required to be

disclosed under this title; and

(b) shall be treated as being accurate for purposes of

Section 5-204 of this title if:

(i) except as provided in subparagraph (ii) of this

paragraph, the amount disclosed as the finance

charge does not vary from the actual finance

charge by more than an amount equal to one-half

of one percent (1/2 of 1%) of the total amount of

credit extended; or

(ii) in the case of a transaction, other than a

subsection 10 mortgage referred to in subsection

(10) of Section 1-301 of this title, which:

(aa) is a refinancing of the principal balance

then due and any accrued and unpaid finance

charges of a residential mortgage

transaction as defined in subsection (17) of

Section 1-301 of this title, or is any

subsequent refinancing of such a

transaction; and

(bb) does not provide any new consolidation or

new advance;

if the amount disclosed as the finance charge does not vary from the

actual finance charge by more than an amount equal to one percent

(1%) of the total amount of credit extended.