Okla. Stat. tit. 59, § 59-1509

A. General Disclosure Requirements. 1. All disclosures

required by this act shall be made in accordance with the

regulations of the Administrator and, in addition, such disclosures

as applicable:

a. shall be made clearly and conspicuously;

b. shall be in writing, a copy of which shall be

delivered to the customer;

c. may be supplemented by additional information or

explanations supplied by the pawnbroker;

d. need be made only to the extent applicable and

only as to those items for which the pawnbroker makes a separate

charge to the customer; and

e. shall comply with this section although rendered

inaccurate by any act, occurrence or agreement subsequent to the

required disclosure.

2. The disclosures required by this section shall be made

before credit is extended, but may be made in the pawn transaction,

refinancing or consolidation agreement, or other evidence of the

pawn transaction agreement to be signed by the customer if set forth

conspicuously therein, and need be made only to one customer if

there is more than one.

3. If any evidence of the pawn transaction agreement is signed

by the customer, the pawnbroker shall give him a copy when the

writing is signed.

4. Except as provided with respect to civil liability for

violations of disclosure provisions, written acknowledgment of

receipt by a customer to whom a statement is required to be given

pursuant to this section:

a. in an action or proceeding by or against the

original pawnbroker, creates a presumption that the statement was

given; and

b. in an action or proceeding by or against an

assignee without knowledge to the contrary when he acquires the

obligation, is conclusive proof of the delivery of the statement

and, unless the violation is apparent on the face of the statement,

of compliance with this act.

5. Where the terms "finance charge" and "annual percentage

rate" are required to be used, they shall be printed more

conspicuously than other terminology required by this act. All

numerical amounts and percentages shall be stated in figures and

shall be printed in not less than the equivalent of ten point type,

.075-inch computer type, or elite size typewritten numerals, or

shall be legibly handwritten.

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B. Calculation of Rate to be Disclosed. 1. If a pawnbroker

is required to give to a customer a statement of the rate of the

pawn finance charge, he shall state the rate in terms of an annual

percentage rate calculated according to the actuarial method

designated as "annual percentage rate" with respect to a pawn

transaction, which is the quotient expressed as a percentage of the

total pawn finance charge for the period to which it relates divided

by the amount financed, multiplied by the number of these periods in

a year.

2. A statement of rate complies with this act if it does not

vary from the accurately computed rate by more than one quarter of

one percent (1/4 of 1%) for a pawn transaction.

C. Overstatement. The disclosure of an amount or percentage

which is greater than the amount or percentage required to be

disclosed under this act does not in itself constitute a violation

of this act if the overstatement is not materially misleading and is

not used to avoid meaningful disclosure.

D. Specific Disclosure Provisions. 1. The pawnbroker shall

give the customer the following information:

a. the name and address of the pawnbroker;

b. the name and address of the customer and the

customer's description or the distinctive number from customer's

driver's license or military identification;

c. the date of the transaction;

d. the net amount paid to, receivable by, or paid or

payable for the account of the customer, designated as "amount

financed";

e. the amount of the pawn finance charge, designated

as "finance charge";

f. the rate of the pawn finance charge as applied to

the amount financed, in accordance with the provisions on
's

driver's license or military identification;

c. the date of the transaction;

d. the net amount paid to, receivable by, or paid or

payable for the account of the customer, designated as "amount

financed";

e. the amount of the pawn finance charge, designated

as "finance charge";

f. the rate of the pawn finance charge as applied to

the amount financed, in accordance with the provisions on

calculation of rate in Section 9, subsection B, of this act

designated as "annual percentage rate";

g. the total amount which must be paid to redeem the

pledged goods on the maturity date, designated as the "total of

payments";

h. an identification of the property to which any

security interest held or to be retained or acquired relates, and

shall include serial numbers if reasonably available;

i. the maturity date of the pawn transaction; and

j. a statement to the effect that the customer is

not obligated to redeem the pledged goods, and that the pledged

goods may be forfeited to the pawnbroker thirty (30) days after the

specified maturity date, provided that the pledged goods may be

redeemed by the customer within thirty (30) days following the

maturity date of the pawn transaction by payment of the originally

agreed redemption price and the payment of an additional pawn

Oklahoma Statutes - Title 59. Professions and Occupations Page 1136

finance charge equal to one-thirtieth (1/30) of the original monthly

pawn finance charge for each day following the original maturity

date including the day on which the pledged goods are finally

redeemed.

E. Consolidation. If the parties to a pawn transaction or

consumer credit sale agree to a consolidation, the pawnbroker shall

give to the customer the information required with respect to pawn

transaction provisions. That portion of the pawn finance charge

earned at the time of consolidation shall be no greater than one-

thirtieth (1/30) of the pawn finance charge for each elapsed day

from the date of the transaction. The amount with respect to the

previous transaction or sale to be consolidated shall be separately

stated and shall be added to the net amount paid to, receivable by,

or paid or payable for the account of the customer in connection

with the subsequent transaction.

F. Advertising. 1. No pawnbroker shall engage in this state

in false or misleading advertising concerning the terms or

conditions of credit with respect to a pawn transaction.

2. Without limiting the generality of subsection 1 of this

section an advertisement with respect to a pawn transaction made by

the posting of a public sign, or by catalog, magazine, newspaper,

radio, television or similar mass media, is misleading if:

a. it states the rate of the pawn finance charge and

the rate is not stated in the form required by the provisions on

calculation of rate to be disclosed; or

b. it states the dollar amounts of the pawn finance

charge and does not also state the rate of any pawn finance charge.

3. In this section a catalog or other multiple-page

advertisement is considered a single advertisement if it clearly and

conspicuously displays a credit terms table setting forth the

information required by this section.

4. This section imposes no liability on the owner or

personnel, as such, of any medium in which an advertisement appears

or through which it is disseminated.

5. Advertising which complies with the Federal Consumer Credit

Protection Act does not violate subsection 2 of this section.