Okla. Stat. tit. 14A, § 14A-3-309

(1) Before opening any account under a revolving loan account

plan, the creditor shall give to the consumer the following

information:

(a) conditions under which a loan finance charge may be

made, including the time period, if any, within which

any credit extended may be repaid without incurring a

loan finance charge, except that the creditor may, at

his election and without disclosure, impose no such

loan finance charge if payment is received after the

termination of such period. If no time period is

provided, the creditor shall disclose that fact;

(b) method of determining the balance upon which a loan

finance charge will be computed;

(c) method of determining the amount of the loan finance

charge including any minimum or fixed amount imposed

as a finance charge, and where one or more periodic

rates may be used to compute the loan finance charge,

each such rate and the range of balances to which it

is applicable;

(d) corresponding nominal annual percentage rate pursuant

to subsection (3) of Section 3-304 of this title; if

more than one corresponding nominal annual percentage

rate may be used, each corresponding nominal annual

percentage rate shall be stated;

(e) identification of additional charges which may be made

and the method by which they will be determined;

(f) in cases where the creditor may retain or acquire a

security interest in property to secure the balances

resulting from credit extensions made pursuant to the

revolving loan account, a statement that a security

interest has been or will be taken in the property

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 106

purchased as part of the credit transaction or

property not purchased as part of the credit

transaction identified by item or type;

(g) a statement in a form prescribed by and describing the

protection provided by Sections 161 and 170 of the

Federal Consumer Credit Protection Act to an obligor

and the responsibility of a creditor under Sections

162 and 170 of the Federal Consumer Credit Protection

Act; and

(h) in the case of any account under a revolving loan

account plan which provides for any extension of

credit which is secured by the consumer's principal

dwelling, any information which:

(i) is required to be disclosed under subsection (1)

of Section 3-309.2 of this title; and

(ii) the Administrator determines is not described in

any other paragraph of this subsection.

(2) If there is an outstanding balance at the end of the

billing cycle or if a loan finance charge is made with respect to

the billing cycle, the creditor shall give to the consumer the

following information within a reasonable time after the end of the

billing cycle:

(a) outstanding balance at the beginning of the billing

cycle;

(b) the amount and date of each extension of credit made

during the billing cycle and a brief identification of

each extension of credit on or accompanying the

statement in a form prescribed by regulations of the

Administrator to enable the consumer to identify the

transaction, or relate it to copies of sale vouchers

or similar instruments previously furnished, except

that a creditor's failure to disclose information in

accordance with this paragraph shall not be deemed a

failure to comply with this part if the creditor

maintains procedures reasonably adapted to procure and

provide such information and the creditor responds to

and treats any inquiry for clarification or

documentation as a billing error and an erroneously

billed amount in accordance with Section 161 of the

Federal Consumer Credit Protection Act. In lieu of

complying with the requirements of the previous

sentence and to the extent permitted by rule of the

Administrator, in the case of any transaction in which

the creditor and a seller are related persons as

defined by the Administrator and the revolving loan

account plan has fewer than fifteen thousand (15,000)
cordance with Section 161 of the

Federal Consumer Credit Protection Act. In lieu of

complying with the requirements of the previous

sentence and to the extent permitted by rule of the

Administrator, in the case of any transaction in which

the creditor and a seller are related persons as

defined by the Administrator and the revolving loan

account plan has fewer than fifteen thousand (15,000)

accounts, the creditor may elect to provide only the

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 107

amount and date of each extension of credit during the

billing cycle and the seller's name and location where

the transaction took place if a brief identification

of the transaction has been previously furnished and

the creditor responds to and treats any inquiry for

clarification or documentation as a billing error and

an erroneously billed amount in accordance with

Section 161 of the Federal Consumer Credit Protection

Act;

(c) amount credited to the account during the billing

cycle;

(d) amount of loan finance charge debited during the

billing cycle, with an itemization or explanation to

show the total amount of loan finance charge, if any,

due to the application of one or more periodic

percentages and the amount, if any, imposed as a

minimum or fixed charge;

(e) the periodic percentage used to calculate the loan

finance charge; if more than one periodic percentage

is used, each percentage and the amount of the balance

to which each applies shall be disclosed;

(f) the balance on which the loan finance charge is

computed and a statement of how the balance is

determined; if the balance is determined without first

deducting all amounts credited during the period, that

fact and the amounts credited shall also be stated;

(g) if the loan finance charge for the billing cycle

exceeds fifty cents ($0.50) for a monthly or longer

billing cycle, or the pro rata part of the fifty cents

($0.50) for a billing cycle shorter than monthly, the

loan finance charge expressed as an annual percentage

rate pursuant to paragraph (b) of subsection (2) of

Section 3-304 of this title; if more than one periodic

percentage is used to calculate the loan finance

charge, the creditor, in lieu of stating a single

annual percentage rate, may state more than one annual

percentage rate and the amount of the balance to which

each annual percentage rate applies;

(h) if the loan finance charge for the billing cycle does

not exceed fifty cents ($0.50) for a monthly or longer

billing cycle, or the pro rata part of fifty cents

($0.50) for a billing cycle shorter than monthly, the

corresponding nominal annual percentage rate pursuant

to subsection (3) of Section 3-304 of this title;

(i) outstanding balance at the end of the billing cycle;

(j) date by which or period, if any, within which payment

must be made to avoid additional loan finance charges,

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except that the creditor may, at his election and

without disclosure, impose no such additional loan

finance charge if payment is received after such date

or the termination of such period;

(k) address to be used by the creditor for the purpose of

receiving billing inquiries;

(l) a written statement in the following form: "Minimum

Payment Warning: Making only the minimum payment will

increase the amount of interest you pay and the time

it takes to repay your balance."; and

(m) repayment information that would apply to the

outstanding balance of the consumer under the credit

plan, including:
be used by the creditor for the purpose of

receiving billing inquiries;

(l) a written statement in the following form: "Minimum

Payment Warning: Making only the minimum payment will

increase the amount of interest you pay and the time

it takes to repay your balance."; and

(m) repayment information that would apply to the

outstanding balance of the consumer under the credit

plan, including:

(i) the number of months (rounded to the nearest

month) that it would take to pay the entire

amount of that balance, if the consumer pays only

the required minimum monthly payments and if no

further advances are made,

(ii) the total cost to the consumer, including

interest and principal payments, of paying that

balance in full, if the consumer pays only the

required minimum monthly payments and if no

further advances are made,

(iii) the monthly payment amount that would be required

for the consumer to eliminate the outstanding

balance in thirty-six (36) months, if no further

advances are made, and the total cost to the

consumer, including interest and principal

payments, of paying that balance in full if the

consumer pays the balance over thirty-six (36)

months, and

(iv) a toll-free telephone number at which the

consumer may receive information about accessing

credit counseling and debt management services;

In making the disclosures under this paragraph, the

creditor shall apply the interest rate or rates in

effect on the date on which the disclosure is made

until the date on which the balance would be paid in

full. If the interest rate in effect on the date on

which the disclosure is made is a temporary rate that

will change under a contractual provision applying an

index or formula for subsequent interest rate

adjustment, the creditor shall apply the interest rate

in effect on the date on which the disclosure is made

for as long as that interest rate will apply under

that contractual provision, and then apply an interest

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rate based on the index or formula in effect on the

applicable billing date.

(3) (a) All of the information described in paragraph (m) of

subsection (2) of this section shall:

(i) be disclosed in the form and manner which the

Administrator shall prescribe, by regulation, and

in a manner that avoids duplication, and

(ii) be placed in a conspicuous and prominent location

on the billing statement;

(b) in the regulations prescribed under paragraph (a) of

this subsection, the Administrator shall require that

the disclosure of such information shall be in the

form of a table that:

(i) contains clear and concise headings for each item

of such information, and

(ii) provides a clear and concise form stating each

item of information required to be disclosed

under each such heading;

(c) in prescribing the form of the table under paragraph

(b) of this subsection, the Administrator shall

require that:

(i) all of the information in the table, and not just

a reference to the table, be placed on the

billing statement, as required by this section,

and

(ii) the items required to be included in the table

shall be listed in the order in which such items

are set forth in paragraph (m) of subsection (2)

of this section; and

(d) in prescribing the form of the table under paragraph
require that:

(i) all of the information in the table, and not just

a reference to the table, be placed on the

billing statement, as required by this section,

and

(ii) the items required to be included in the table

shall be listed in the order in which such items

are set forth in paragraph (m) of subsection (2)

of this section; and

(d) in prescribing the form of the table under paragraph

(b) of this subsection, the Administrator shall employ

terminology which is different than the terminology

which is employed in paragraph (m) of subsection (2)

of this section, if such terminology is more easily

understood and conveys substantially the same meaning.

(4) (a) In the case of a credit card account under an open-end

consumer credit plan under which a late fee or charge

may be imposed due to the failure of the obligor to

make payment on or before the due date for such

payment, the periodic statement required with respect

to the account shall include, in a conspicuous

location on the billing statement, the date on which

the payment is due or, if different, the date on which

a late payment fee will be charged, together with the

amount of the fee or charge to be imposed if payment

is made after that date.

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(b) if one or more late payments under an open-end

consumer credit plan may result in an increase in the

annual percentage rate applicable to the account, the

statement required with respect to the account shall

include conspicuous notice of such fact, together with

the applicable penalty annual percentage rate, in

close proximity to the disclosure required under

paragraph (a) of this subsection of the date on which

payment is due under the terms of the account.

(c) if the creditor, in the case of a credit card account

referred to in paragraph (a) of this subsection, is a

financial institution which maintains branches or

offices at which payments on any such account are

accepted from the obligor in person, the date on which

the obligor makes a payment on the account at such

branch or office shall be considered to be the date on

which the payment is made for purposes of determining

whether a late fee or charge may be imposed due to the

failure of the obligor to make payment on or before

the due date for such payment.