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Code · Oklahoma · Title 14A — Consumer Credit Code

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

120 words·~1 min read·/ok/title-14a-consumer-credit-code/14a-3-207·

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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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