Oklahoma Statutes (Last Updated: September 18, 2014)

§ 59-3110. Limit on number of loans - Payment in full required.

Latest version.

After the debtor has entered into a fifth consecutive deferred deposit loan, a lender shall not make a deferred deposit loan to a debtor until 8:00 a.m. on the second business day after the fifth consecutive deferred deposit loan has been paid in full.

Added by Laws 2003, c. 240, § 10, eff. Sept. 1, 2003. Amended by Laws 2004, c. 557, § 7, emerg. eff. June 10, 2004.

                    
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