Oklahoma Statutes
§ 14A-2-403 — Certain negotiable instruments prohibited.
Oklahoma·Title 14A Consumer Credit Code
In a consumer credit sale or consumer lease, the seller or lessor may not take a negotiable instrument other than a check as evidence of the obligation of the buyer or lessee. A holder is not in good faith if he takes a negotiable instrument with notice that it is issued in violation of this section. A holder in due course is not subject to the liabilities set forth in the provisions on the effect of violations on rights of parties (Section 5-202) and the provisions on civil actions by Administrator (Section 6-113).
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Legislative History
Added by Laws 1969, c. 352, § 2-403, eff. July 1, 1969. Amended by Laws 1982, c. 335, § 24, operative June 1, 1982.
Nearby Sections
15
§ 14A-1-101
Short title.§ 14A-1-102
Purposes - Rules of construction.§ 14A-1-104
Construction against implicit repeal.§ 14A-1-105
Repealed§ 14A-1-108
Effect of act on powers of organizations.§ 14A-1-110
Use of cash discounts.§ 14A-1-111
Location of amendments.§ 14A-1-201
Territorial application.§ 14A-1-201A
Extraterritorial application.§ 14A-1-202
Exclusions.§ 14A-1-301
General definitions.