Oklahoma Statutes (Last Updated: September 18, 2014)

§ 14A-3-207. Conversion to revolving loan account.

Latest version.

The parties may agree to add to a revolving loan account the unpaid balance of a consumer loan, not made pursuant to a revolving loan account, or a refinancing, or consolidation thereof, or the unpaid balance of a consumer credit sale, refinancing, or consolidation. For the purpose of this section
(1) the unpaid balance of a consumer loan, refinancing, or consolidation is an amount equal to the principal determined according to the provisions on refinancing (Section 3-205); and
(2) the unpaid balance of a consumer credit sale, refinancing, or consolidation is an amount equal to the amount financed determined according to the provisions on refinancing (Section 2-205).

Added by Laws 1969, c. 352, § 3-207, eff. July 1, 1969.

                    
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