Okla. Stat. tit. 14A, § 14A-3-306

(1) This section applies to a consumer loan not made pursuant

to a revolving loan account under Section 3-309 of this title.

(2) The lender shall give to the debtor the following

information:

(a) The identity of the lender required to make

disclosure.

(b) (i) The amount financed, using that term, which shall

be the amount of credit of which the debtor has

actual use. This amount shall be computed as

follows, but the computations need not be

disclosed and shall not be disclosed with the

disclosures conspicuously segregated in

accordance with the rule of the Administrator:

(aa) take the principal amount of the loan;

(bb) add any charges which are not part of the

finance charge or of the principal amount of

the loan and which are financed by the

debtor, including the cost of any items

excluded from the finance charge pursuant to

Section 3-202 of this title; and

(cc) subtract any charges which are part of the

finance charge but which will be paid by the

debtor before or at the time of the

consummation of the transaction, or have

been withheld from the proceeds of the

credit.

(ii) In conjunction with the disclosure of the amount

financed, a lender shall provide a statement of

the debtor's right to obtain, upon a written

request, a written itemization of the amount

financed. The statement shall include spaces for

a "yes" and "no" indication to be initialed by

the debtor to indicate whether the debtor wants a

written itemization of the amount financed. Upon

receiving an affirmative indication, the lender

shall provide, at the time other disclosures are

required to be furnished, a written itemization

of the amount financed. For the purposes of this

subparagraph, "itemization of the amount

financed" means a disclosure of the following

items, to the extent applicable:

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(aa) the amount that is or will be paid directly

to the debtor;

(bb) the amount that is or will be credited to

the debtor's account to discharge

obligations owed to the lender;

(cc) each amount that is or will be paid to third

persons by the lender on the debtor's

behalf, together with an identification of

or reference to the third person; and

(dd) the total amount of any charges described in

the division (cc) of subparagraph (i) of

this paragraph.

(c) The "finance charge", not itemized, using that term.

(d) The finance charge expressed as an "annual percentage

rate", using that term. This shall not be required if

the amount financed does not exceed Seventy-five

Dollars ($75.00) and the finance charge does not

exceed Five Dollars ($5.00), or if the amount financed

exceeds Seventy-five Dollars ($75.00) and the finance

charge does not exceed Seven Dollars and fifty cents

($7.50).

(e) The sum of the amount financed and the finance charge,

which shall be termed the "total of payments".

(f) The number, amount, and due dates or period of

payments scheduled to repay the total of payments.

(g) Descriptive explanations of the terms "amount

financed", "finance charge", "annual percentage rate"

and "total of payments", as specified by the

Administrator.

(h) Where the credit is secured, a statement that a

security interest has been taken in (i) the property

which is purchased as part of the credit transaction,

or (ii) property not purchased as part of the credit

transaction identified by item or type.

(i) Any dollar charge or percentage amount which may be

imposed by a lender solely on account of a late

payment, other than a deferral or extension charge.
credit is secured, a statement that a

security interest has been taken in (i) the property

which is purchased as part of the credit transaction,

or (ii) property not purchased as part of the credit

transaction identified by item or type.

(i) Any dollar charge or percentage amount which may be

imposed by a lender solely on account of a late

payment, other than a deferral or extension charge.

(j) A statement indicating whether or not the debtor is

entitled to a rebate of any finance charge upon

refinancing or prepayment in full pursuant to

acceleration or otherwise, if the obligation involves

a precomputed finance charge. A statement indicating

whether or not a penalty will be imposed in those same

circumstances if the obligation involves a finance

charge computed from time to time by application of a

rate to the unpaid principal balance.

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(k) A statement that the debtor should refer to the

appropriate contract document for any information such

document provides about nonpayment, default, the right

to accelerate the maturity of the debt, and prepayment

rebates and penalties.

(l) In any transaction in which a mortgage, deed of trust,

or equivalent consensual security interest is created

or retained against the debtor's dwelling to finance

the acquisition or initial construction of the

dwelling, a statement indicating whether a subsequent

purchaser or assignee of the debtor may assume the

debt obligation on its original terms and conditions.

(m) In the case of any variable interest rate residential

mortgage transaction, in disclosures provided at

application as prescribed by the Administrator for a

variable rate transaction secured by the consumer's

principal dwelling, at the option of the creditor, a

statement that the periodic payments may increase or

decrease substantially, and the maximum interest rate

and payment for a ten-thousand-dollar loan originated

at a recent interest rate, as determined by the

Administrator, assuming the maximum periodic increases

in rates and payments under the program, or a

historical example illustrating the effects of

interest rate changes implemented according to the

loan program.

(3) Except as rules of the Administrator may provide, if a

lender makes a binding commitment to make a consumer loan by

allowing the debtor to draw on the lender and at the time the

commitment is made the amount of the loan has not been determined,

the lender shall then give to the debtor a statement of the terms

under which the loan will be made, including the rate of the loan

finance charge calculated in accordance with the provisions on

calculation of rate under Section 3-304 of this title. If the rate

of the loan finance charge varies according to the amount of the

loan, the lender shall state the minimum and maximum annual

percentage rates which would be applicable to the amounts which

could be drawn pursuant to the commitment. If additional charges

under Section 3-202 of this title may be made, the lender shall also

state the conditions under which the charges may be made, the amount

or method of computing the charges, and a brief description or

identification of the charges. Within a reasonable time after the

loan is made, and in any event on or before the due date of the

first installment, the lender shall give the information required by

this section.

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