Oklahoma Statutes
§ 14A-3-106 — Definition: "Loan".
Oklahoma·Title 14A Consumer Credit Code
(1)"Loan" includes (a) the creation of debt by the lender's payment of or agreement to pay money to the debtor or to a third party for the account of the debtor;
(b)the creation of debt by a credit to an account with the lender upon which the debtor is entitled to draw immediately;
(c)the creation of debt pursuant to a lender credit card or similar arrangement, except that the creation of debt or the forbearance of debt arising from a sale or lease of goods or services pursuant to a lender credit card shall be a "loan" only as to the issuer of such card and not as to a seller nor a lessor nor any assignee of a seller's right to payment or lessor's right to payment; and (d) the forbearance of debt arising from a loan.
(2)"Loan" does not include the creation of debt nor the forbearance o
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Legislative History
Added by Laws 1969, c. 352, § 3-106, 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Repealed§ 14A-1-108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.