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Oklahoma Interest Rates Laws
More Information on Interest Rate Laws
| Legal Maximum Rate of Interest | 6%, or by contract (Tit. 15 §266) |
| Penalty for Usury (Unlawful Interest Rate) | Forfeiture of entire interest; if amount over legal interest is paid, it may be recovered double (Const. Art. XIV §3); if a bank is guilty of loaning at usurious rate, cancellation of bank charter and liquidation of assets of bank (15 §272) |
| Interest Rates on Judgments | At contract rate or 4 percentage points above average treasury bill rate for preceding year, not to exceed 10% in action against state/political subdivision (Tit. 12 §727) |
| Exceptions | Pawnshops (Tit. 59 §1510); small loans and retail installment (Uniform Consumer Credit Code) (Tit. 14A §3-201) |
Note: State laws are constantly changing -- contact an attorney or conduct your own legal research to verify the state law(s) you are researching.
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- Official State Codes - Links to the official online statutes (laws) in all 50 states and DC.
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