§14A-3-501. Definitions: "Supervised loan"; "Supervised lender".
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/ok/title-14a-consumer-credit-code/14a-3-501·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)"Supervised loan" means a consumer loan in which the rate of the loan finance charge exceeds ten percent (10%) per year as determined according to the provisions on loan finance charge for consumer loans (Section 3-201).
(2)"Supervised lender" means a person authorized to make or take assignments of supervised loans. Added by Laws 1969, c. 352, § 3-501, eff. July 1, 1969. Amended by Laws 1980, c. 122, § 4, emerg. eff. April 15, 1980.