§ 4-104. Creditor's provision of and charge for insurance--Excess amount of charge
Oklahoma Statutes AnnotatedTitle 14A. Consumer Credit Code
14A Okl.St.Ann. § 4-104
§ 4-104. Creditor's provision of and charge for insurance--Excess amount of charge
(1) Except as otherwise provided in this article and subject to the provisions on additional charges (Section 2-202 and Section 3-202) and maximum charges (Part 2 of Article 2 and Article 3), a creditor may agree to provide insurance, and may contract for and receive a charge for insurance separate from and in addition to other charges. A creditor need not make a separate charge for insurance provided or required by him. This act1 does not authorize the issuance of any insurance prohibited under any statute, or rule thereunder, governing the business of insurance.
(2) The excess amount of a charge for insurance provided for in agreements in violation of this article is an excess charge for the purposes of the provisions of the article on remedies and penalties (Article 5) as to effect of violations on rights of parties (Section 5-202) and of the provisions of the article on administration (Article 6) as to civil actions by the Administrator (Section 6-113).
Credits
Laws 1969, c. 352, § 4-104, eff. July 1, 1969.
Footnotes
Title 14A, § 1-101 et seq.
14A Okl. St. Ann. § 4-104, OK ST T. 14A § 4-104
Current with emergency effective legislation through Chapter 449 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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