Oklahoma Statutes
§ 14A-2-408 — Cross-collateral.
Oklahoma·Title 14A Consumer Credit Code
(1)In addition to contracting for a security interest pursuant to the provisions on security in sales or leases (Section 2-407), a seller in a consumer credit sale may secure the debt arising from the sale by contracting for a security interest in other property if as a result of a prior sale the seller has an existing security interest in the other property. The seller may also contract for a security interest in the property sold in the subsequent sale as security for the previous debt.
(2)If the seller contracts for a security interest in other property pursuant to this section, the rate of credit service charge thereafter on the aggregate unpaid balances so secured may not exceed that permitted if the balances so secured were consolidated pursuant to the provisions on consolidation i
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Oklahoma § 14A-2-408 (Cross-collateral.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Laws 1969, c. 352, § 2-408, eff. July 1, 1969.
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Repealed§ 14A-1-108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.