Okla. Stat. tit. 14A, § 14A-3-508A

(1) With respect to a supervised loan, including a loan

pursuant to a revolving loan account, a supervised lender may

contract for and receive a loan finance charge not exceeding that

permitted by this section.

(2) The loan finance charge, calculated according to the

actuarial method, may not exceed the equivalent of the greater of

either of the following:

(a) the total of:

(i) thirty-two percent (32%) plus the federal funds

rate per year on that part of the unpaid balances

of the principal which is Seven Thousand Dollars

($7,000.00) or less;

(ii) twenty-three percent (23%) plus the federal funds

rate per year on that part of the unpaid balances

of the principal which is more than Seven

Thousand Dollars ($7,000.00) but does not exceed

Eleven Thousand Dollars ($11,000.00); and

(iii) twenty percent (20%) plus the federal funds rate

per year on that part of the unpaid balances of

the principal which is more than Eleven Thousand

Dollars ($11,000.00); or

(b) twenty-five percent (25%) plus the federal funds rate

per year on the unpaid balances of the principal.

(3) This section does not limit or restrict the manner of

contracting for the loan finance charge, whether by way of add-on,

discount, or otherwise, so long as the rate of the loan finance

charge does not exceed that permitted by this section. If the loan

is precomputed:

(a) the loan finance charge may be calculated on the

assumption that all scheduled payments will be made

when due; and

(b) the effect of prepayment is governed by the provisions

on rebate upon prepayment (Section 3-210).

(4) In addition to the loan finance charge permitted in this

section and other charges permitted in this act, a supervised lender

may assess a lender closing fee not to exceed Twenty-eight Dollars

and eighty-five cents ($28.85) upon consummation of the loan.

(5) The term of a loan, for the purpose of this section,

commences on the date the loan is made. Differences in the lengths

of months are disregarded and a day may be counted as one-thirtieth

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 154

(1/30) of a month. Subject to classifications and differentiations

the lender may reasonably establish, a part of a month in excess of

fifteen (15) days may be treated as a full month if periods of

fifteen (15) days or less are disregarded and if that procedure is

not consistently used to obtain a greater yield than would otherwise

be permitted.

(6) Subject to classifications and differentiations the lender

may reasonably establish, he may make the same loan finance charge

on all principal amounts within a specified range. A loan finance

charge so made does not violate subsection (2) of this section if:

(a) when applied to the median amount within each range,

it does not exceed the maximum permitted in subsection

(2) of this section; and

(b) when applied to the lowest amount within each range,

it does not produce a rate of loan finance charge

exceeding the rate calculated according to paragraph

(a) of this subsection by more than eight percent (8%)

of the rate calculated according to paragraph (a) of

this subsection.

(7) As used in this section, the “federal funds rate” means the

rate published by the Board of Governors of the Federal Reserve

System in its statistical release H.15 Selected Interest Rates and

in effect as of the first day of each month immediately preceding

the month during which the loan is consummated.