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Okla. Stat. tit. 14A, § 14A-5-206

This is the official text of Okla. Stat. tit. 14A, § 14A-5-206, 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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Closed-end consumer credit transaction secured by real

Official statutory text

property or dwelling consummated before September 30, 1995 -

Nonliability of creditor.

(1) For any closed-end consumer credit transaction that is

secured by real property or a dwelling, that is subject to Title 14A

of the Oklahoma Statutes, and that is consummated before September

30, 1995, a creditor or any assignee of a creditor shall have no

civil, administrative, or criminal liability under Title 14A of the

Oklahoma Statutes for, and a consumer shall have no extended

rescission rights under subsection (1) of Section 5-204 of Title 14A

of the Oklahoma Statutes with respect to:

(a) the creditor's treatment, for disclosure purpose, of:

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 202

(i) taxes described in paragraph (a) of subsection

(1) of Section 3-202 of Title 14A of the Oklahoma

Statutes;

(ii) fees described in paragraphs (d) and (e) of

subsection (1) of Section 3-202 of Title 14A of

the Oklahoma Statutes;

(iii) fees and amounts referred to in the third

sentence of paragraph (b) of subsection (1) of

Section 3-109 of Title 14A of the Oklahoma

Statutes; or

(iv) borrower-paid mortgage broker fees referred to in

subparagraph (vi) of paragraph (b) of subsection

(1) of Section 3-109 of Title 14A of the Oklahoma

Statutes;

(b) the form of written notice used by the creditor to

inform the obligor of the rights of the obligor under

Section 5-204 of Title 14A of the Oklahoma Statutes if

the creditor provided the obligor with a properly

dated form of written notice published and adopted by

the Administrator or a comparable written notice, and

otherwise complied with all the requirements of this

section regarding notice; or

(c) any disclosure relating to the finance charge imposed

with respect to the transaction if the amount or

percentage actually disclosed:

(i) may be treated as accurate for purposes of this

title if the amount disclosed as the finance

charge does not vary from the actual finance

charge by more than Two Hundred Dollars

($200.00);

(ii) may, under paragraph (b) of subsection (6) of

Section 3-304 of Title 14A of the Oklahoma

Statutes, be treated as accurate for purposes of

Section 5-204 of Title 14A of the Oklahoma

Statutes; or

(iii) is greater than the amount or percentage required

to be disclosed under Title 14A of the Oklahoma

Statutes.

(2) Subsection (1) of this section shall not apply to:

(a) any individual action or counterclaim brought under

Title 14A of the Oklahoma Statutes which was filed

before June 1, 1995;

(b) any class action brought under Title 14A of the

Oklahoma Statutes for which a final order certifying a

class was entered before January 1, 1995;

Oklahoma Statutes - Title 14A. Consumer Credit Code Page 203

(c) the named individual plaintiffs in any class action

brought under Title 14A of the Oklahoma Statutes which

was filed before June 1, 1995; or

(d) any consumer credit transaction with respect to which

a timely notice of rescission was sent to the creditor

before June 1, 1995.

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.