Oklahoma § 14A-3-105 Definition: "Loan primarily secured by an interest in

Oklahoma Statutes

§ 14A-3-105 — Definition: "Loan primarily secured by an interest in

Oklahoma § 14A-3-105

Title 14AConsumer Credit Code

This text of Oklahoma § 14A-3-105 (Definition: "Loan primarily secured by an interest in) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 14A, § 14A-3-105 (2026).

Text

land". Unless the loan is made subject to this act by agreement (Section 3-601), and except as provided with respect to disclosure (Section 3-301) and debtors' remedies (Section 5-201), "consumer loan" does not include a "loan primarily secured by an interest in land", if at the time the loan is made the value of this collateral is substantial in relation to the amount of the loan, and the loan finance charge does not exceed thirteen percent (13%) per year calculated according to the actuarial method on the unpaid balances of the principal on the assumption that the debt will be paid according to the agreed terms and will not be paid before the end of the agreed term.

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land". Unless the loan is made subject to this act by agreement (Section 3-601), and except as provided with respect to disclosure (Section 3-301) and debtors' remedies (Section 5-201), "consumer loan" does not include a "loan primarily secured by an interest in land", if at the time the loan is made the value of this collateral is substantial in relation to the amount of the loan, and the loan finance charge does not exceed thirteen percent (13%) per year calculated according to the actuarial method on the unpaid balances of the principal on the assumption that the debt will be paid according to the agreed terms and will not be paid before the end of the agreed term.

Legislative History

Added by Laws 1969, c. 352, § 3-105, eff. July 1, 1969. Amended by Laws 1979, c. 218, § 1, emerg. eff. May 30, 1979; Laws 1980, c. 32, § 1, emerg. eff. Mar. 26, 1980; Laws 1980, c. 122, § 3, emerg. eff. April 15, 1980.