§ 2. Classification of loans and lenders--Licenses--Maximum rates of interest
Oklahoma Statutes AnnotatedConstitution of the State of Oklahoma [Annotated]
OK Const. Art. 14, § 2
§ 2. Classification of loans and lenders--Licenses--Maximum rates of interest
The Legislature shall have authority to classify loans and lenders, license and regulate lenders, define interest and fix maximum rates of interest; provided, however, in the absence of legislation fixing maximum rates of interest, all contracts for a greater rate of interest than ten percent (10%) per annum shall be deemed usurious; provided, further, that in contracts where no rate of interest is agreed upon, the rate shall not exceed six percent (6%) per annum.
Credits
Amended by State Question No. 454, Legislative Referendum No. 167, adopted at election held Sept. 17, 1968.
OK Const. Art. 14, § 2, OK CONST Art. 14, § 2
Current with amendments approved through June 30, 2020.
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