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§ 5-105. Limitation on garnishment

Oklahoma Statutes AnnotatedTitle 14A. Consumer Credit Code

Oklahoma Statutes Annotated
Title 14a. Consumer Credit Code (Refs & Annos)
Article 5. Remedies and Penalties (Refs & Annos)
Part 1. Limitations on Creditors' Remedies (Refs & Annos)
14A Okl.St.Ann. § 5-105
§ 5-105. Limitation on garnishment
Currentness
(1) For the purpose of this part
(a) “disposable earnings” means that part of the earnings of an individual remaining after the deduction from those earnings of amounts required by law to be withheld; and
(b) “garnishment” means any legal or equitable procedure through which the earnings of an individual are required to be withheld for payment of a debt.
(2) The maximum part of the aggregate disposable earnings of an individual for any workweek which is subjected to garnishment to enforce payment of a judgment arising from a consumer credit sale, consumer lease, or consumer loan may not exceed the lesser of
(a) twenty-five percent (25%) of his disposable earnings for that week; or
(b) the amount by which his disposable earnings for that week exceed thirty times the federal minimum hourly wage prescribed by Section 6(a)(1) of the Fair Labor Standards Act of 1938, U.S.C. Title 29, § 206(a)(1), in effect at the time the earnings are payable;
(c) in the case of earnings for a pay period other than a week, the Administrator shall by rule prescribe a multiple of the federal minimum hourly wage equivalent in effect to that set forth in paragraph (b).
(3) No court may make, execute, or enforce an order or process in violation of this section.

Credits

Laws 1969, c. 352, § 5-105, eff. July 1, 1969.
14A Okl. St. Ann. § 5-105, OK ST T. 14A § 5-105
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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