Oklahoma Statutes
§ 14A-3-403 — No assignment of earnings.
Oklahoma·Title 14A Consumer Credit Code
(1)A lender may not take an assignment of earnings of the debtor for payment or as security for payment of a debt arising out of a consumer loan. An assignment of earnings in violation of this section is unenforceable by the assignee of the earnings and revocable by the debtor. This section does not prohibit an employee from authorizing deductions from his earnings if the authorization is revocable.
(2)A sale of unpaid earnings made in consideration of the payment of money to or for the account of the seller of the earnings is deemed to be a loan to him secured by an assignment of earnings.
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Oklahoma § 14A-3-403 (No assignment of earnings.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Laws 1969, c. 352, § 3-403, 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Repealed§ 14A-1-108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.