Oklahoma 2022 Regular Session

Oklahoma Senate Bill SB1687 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1
2	2
	3	+	SB1687 HFLR Page 1
	4	+	BOLD FACE denotes Committee Amendments. 1
	5	+	2
	6	+	3
	7	+	4
	8	+	5
	9	+	6
	10	+	7
	11	+	8
	12	+	9
	13	+	10
	14	+	11
	15	+	12
	16	+	13
	17	+	14
	18	+	15
	19	+	16
	20	+	17
	21	+	18
	22	+	19
	23	+	20
	24	+	21
	25	+	22
	26	+	23
	27	+	24
3	28
4		-	An Act
5		-	ENROLLED SENATE
	29	+	HOUSE OF REPRESENTATIVES - FLOOR VERSION
	30	+
	31	+	STATE OF OKLAHOMA
	32	+
	33	+	2nd Session of the 58th Legislature (2022)
	34	+
	35	+	ENGROSSED SENATE
6	36		BILL NO. 1687 By: Leewright of the Senate
7	37
8	38		and
9	39
10	40		McEntire of the House
11	41
12	42
13	43
14	44
15	45		An Act relating to supervised loans; amending 14A
16	46		O.S. 2021, Section 1-106, which relates to change in
17	47		dollar amounts; removing section reference;
18	48		designating dollar amounts subject to change;
19	49		providing for conditions of change s; amending 14A
20	50		O.S. 2021, Section 3-508B, which relates to charges
21	51		for supervised loans; changing amount thresholds;
22	52		creating additional amount thresholds; providing
23	53		maximum terms for loan amounts; and providing an
24	54		effective date.
25	55
26	56
27	57
28	58
29		-	SUBJECT: Supervised loans
30		-
31	59		BE IT ENACTED BY THE PEOPLE OF THE STAT E OF OKLAHOMA:
32		-
33	60		SECTION 1. AMENDATORY 14A O.S. 2021, Section 1 -106, is
34	61		amended to read as follows:
35		-
36	62		Section 1-106. (1) From time to time the dollar amounts in
37	63		paragraphs (a), (b) a nd (c) of subsection (2) of Section 2 -201,
38	64		paragraph (a) of subsection (1) of Section 2 -203, subsection (1) of
39	65		Section 2-407, Section 2-413, paragraph (b) of subsection (1) of
40	66		Section 3-203, Section 3-203.1, subsection (4) of Section 3-508A,
41	67		subsection (1) of Section 3-508B, subsection (1) of Section 3 -510,
	68	+
	69	+	SB1687 HFLR Page 2
	70	+	BOLD FACE denotes Committee Amendments. 1
	71	+	2
	72	+	3
	73	+	4
	74	+	5
	75	+	6
	76	+	7
	77	+	8
	78	+	9
	79	+	10
	80	+	11
	81	+	12
	82	+	13
	83	+	14
	84	+	15
	85	+	16
	86	+	17
	87	+	18
	88	+	19
	89	+	20
	90	+	21
	91	+	22
	92	+	23
	93	+	24
	94	+
42	95		paragraphs (a) and (b) of Section 3 -511, Section 3-514, and
43	96		subsections (2) and (3) of Section 5-103 of the Uniform Consumer
44	97		Credit Code, are hereby d esignated as subject to change and shall
45	98		change, as provided in this section and the rules of the
46	99		Administrator, according to and to the extent of changes in the
47		-
48		-	ENR. S. B. NO. 1687 Page 2
49	100		Consumer Price Index for Urban Wage Ea rners and Clerical Workers:
50	101		U.S. City Average, All Items , 1967=100, compiled by the Bureau of
51	102		Labor Statistics, United States Department of Labor, and hereafte r
52	103		referred to as the Index. The Index for December of the year 1973
53	104		shall be deemed the Referenc e Base Index. The dollar amounts
54	105		established by rule of the Administrator in paragraph (e) of
55	106		subsection (1) of Section 2-104, paragraph (b) of subsection (1) of
56	107		Section 2-106 and paragraph (d) of Section 3 -104 of the Uniform
57	108		Consumer Credit Code in effec t on January 1, 1982, shall remain in
58	109		full force and effect.
59		-
60	110		(2) From time to time, the dollar amounts in subsection (1) of
61	111		Section 3-508B of the Uniform Consumer Credit Code are hereby
62	112		designated as subject to c hange and shall change, as provided in
63	113		this section and the rules of the Administrator, according t o and to
64	114		the extent of changes in the Consumer Price Index for Urban Wage
65	115		Earners and Clerical Wor kers: U.S. City Average, All Items, 1982-
66	116		84=100, compiled by the Bureau of Labor Statistics, United States
67	117		Department of Labor, and hereafter referred to as t he Index. The
68	118		Index for December 2021 shall be de emed the Reference Base Index.
69	119
	120	+	SB1687 HFLR Page 3
	121	+	BOLD FACE denotes Committee Amendments. 1
	122	+	2
	123	+	3
	124	+	4
	125	+	5
	126	+	6
	127	+	7
	128	+	8
	129	+	9
	130	+	10
	131	+	11
	132	+	12
	133	+	13
	134	+	14
	135	+	15
	136	+	16
	137	+	17
	138	+	18
	139	+	19
	140	+	20
	141	+	21
	142	+	22
	143	+	23
	144	+	24
	145	+
70	146		(3) The designated dollar am ounts referenced in subsection (1)
71	147		of this section shall change on July 1 of each year if th e
72	148		percentage of change, calculated to the nearest w hole percentage
73	149		point, between the Index at the end of the preceding year and the
74	150		Reference Base Index is te n percent (10%) or more, but:
75		-
76	151		(a) the portion of the percentage change in the Index in
77	152		excess of a multiple of ten percent (10%) shall be
78	153		disregarded and the dollar amounts shall change only
79	154		in multiples of ten percent (10%) of the amounts
80	155		appearing in the Uniform Consumer Credit Code; and
	156	+	(b) the dollar amounts shall not change if the amounts
	157	+	required by this section are those currently in effect
	158	+	pursuant to the Uniform Consumer Credit Code as a
	159	+	result of earlier application of this section.
	160	+	(3) (4) The designated dollar amounts referenced in subsection
	161	+	(2) of this section shall change on July 1 of e ach year if the
	162	+	percentage of change, calculated to the nearest whole percentage
	163	+	point, between the Index at the end of the pre ceding year and the
	164	+	Reference Base Index is one percent (1 %) or more, but:
	165	+	(a) the portion of the percentage change in the Index in
	166	+	excess of three percent (3%) shall be d isregarded and
	167	+	shall change only in multiples of one percent (1%), to
	168	+	a maximum of three percent (3%); and
	169	+
	170	+	SB1687 HFLR Page 4
	171	+	BOLD FACE denotes Committee Amendments. 1
	172	+	2
	173	+	3
	174	+	4
	175	+	5
	176	+	6
	177	+	7
	178	+	8
	179	+	9
	180	+	10
	181	+	11
	182	+	12
	183	+	13
	184	+	14
	185	+	15
	186	+	16
	187	+	17
	188	+	18
	189	+	19
	190	+	20
	191	+	21
	192	+	22
	193	+	23
	194	+	24
81	195
82	196		(b) the dollar amounts shall no t change if the amounts
83	197		required by this section are those currently in effe ct
84	198		pursuant to the Uniform Consumer Credit Code as a
85	199		result of earlier application of this section.
86		-
87		-	(3) (4) The designated dollar amounts referenced in subsection
88		-	(2) of this section shall change on July 1 of e ach year if the
89		-	percentage of change, calculated to the nearest whole percentage
90		-
91		-	ENR. S. B. NO. 1687 Page 3
92		-	point, between the Index at the end of the pre ceding year and the
93		-	Reference Base Index is one percent (1 %) or more, but:
94		-
95		-	(a) the portion of the percentage change in the Index in
96		-	excess of three percent (3%) shal l be disregarded and
97		-	shall change only in multiples of one percent (1%), to
98		-	a maximum of three percent (3%); and
99		-
100		-	(b) the dollar amounts shall no t change if the amounts
101		-	required by this section are those currently in effe ct
102		-	pursuant to the Uniform Consumer Credit Code as a
103		-	result of earlier application of this section.
104		-
105	200		(5) If the Index is revised, the percentage of change pursu ant
106	201		to this section shall be calculated on the basis of th e revised
107	202		Index. If a revision of the Index changes the Reference Base Index,
108	203		a revised Reference Base Index shall be determined by multiplying
109	204		the Reference Base Index then applicable by the rebas ing factor
110	205		furnished by the United States Bureau of Labor Statistics. If the
111	206		Index is superseded, the Index referred to in this section shall be
112	207		the one represented by the United States Bureau of Labor Sta tistics
113	208		as reflecting most accurately changes in t he purchasing power of the
114	209		dollar for consumers.
115		-
116	210		(4) (6) The rules of the Administ rator shall:
117		-
118	211		(a) include the method for calculating the changes in
119	212		dollar amounts required by subsection (2) of this
120	213		section;
121		-
122	214		(b) be amended in accordance with the Administr ative
123	215		Procedures Act to include changes in the Index
124	216		required by subsection (3) of this section including,
125	217		if applicable, the numerical equivalent of the
126	218		Reference Base Index under a revised Reference Base
	219	+
	220	+	SB1687 HFLR Page 5
	221	+	BOLD FACE denotes Committee Amendments. 1
	222	+	2
	223	+	3
	224	+	4
	225	+	5
	226	+	6
	227	+	7
	228	+	8
	229	+	9
	230	+	10
	231	+	11
	232	+	12
	233	+	13
	234	+	14
	235	+	15
	236	+	16
	237	+	17
	238	+	18
	239	+	19
	240	+	20
	241	+	21
	242	+	22
	243	+	23
	244	+	24
	245	+
127	246		Index and the designation or title of any index
128	247		superseding the Index; and
129		-
130	248		(c) provide for appropriate notic e to licensees and other
131	249		interested persons of any changes in the dollar
132	250		amounts which result from changes required by
133	251		subsection (2) of this sectio n no later than April 30
134		-
135		-	ENR. S. B. NO. 1687 Page 4
136	252		of each year. Each dolla r amount subject to change as
137	253		provided in this section sha ll be listed in an
138	254		appendix to the rules of the Administrator and shall
139	255		be published in the Oklahoma Administrative Code.
140	256		Changes to the appendix s hall be submitted to the
141	257		Secretary of State prior to the annual deadline for
142	258		submitting material for publica tion in the Code.
143	259		Changes in the appendix shall not be construed as
144	260		rulemaking.
145		-
146	261		(5) (7) A person does not violate the Uniform Consumer Credit
147	262		Code with respect to a transaction otherwise complying with the
148	263		Uniform Consumer Credit Code if he or she relies on dollar amounts
149	264		either determined according to subsection (2) of this section or
150	265		appearing in the last rule of the Administrator announcing the t hen
151	266		current dollar amounts.
152		-
153	267		SECTION 2. AMENDATORY 14A O.S. 202 1, Section 3-508B, is
154	268		amended to read as foll ows:
	269	+
	270	+	SB1687 HFLR Page 6
	271	+	BOLD FACE denotes Committee Amendments. 1
	272	+	2
	273	+	3
	274	+	4
	275	+	5
	276	+	6
	277	+	7
	278	+	8
	279	+	9
	280	+	10
	281	+	11
	282	+	12
	283	+	13
	284	+	14
	285	+	15
	286	+	16
	287	+	17
	288	+	18
	289	+	19
	290	+	20
	291	+	21
	292	+	22
	293	+	23
	294	+	24
155	295
156	296		Section 3-508B. 1. On loans having a principal of Three
157	297		Hundred Dollars ($300.00) Three Thousand Dollars ($3,000.00) or
158	298		less, a supervised lender may charge in lieu of the loan finance
159	299		charges specified in Sectio n 3-508A of this title, the following
160	300		amounts:
161		-
162	301		a. on any amount up to and including Twenty-nine Dollars
163	302		and ninety-nine cents ($29.99) One Hundred Sixty-one
164	303		Dollars and ninety-five cents ($161.95), there shall
165	304		be allowed an acquisition charge for making the loan
166	305		not in excess of one-tenth (1/10) of the am ount of the
167	306		principal. In addition thereto , a handling charge may
168	307		be added at the ratio of One Dollar ($1.00) Five
169	308		Dollars and forty cents ($5.40) for each Five Dollars
170	309		($5.00) Twenty-seven Dollars ($27.00) of principal,
171		-
172	310		b. on any loan in an amount in exc ess of Twenty-nine
173	311		Dollars and ninety-nine cents ($29.99) One Hundred
174	312		Sixty-one Dollars and ninety-five cents ($161.95) up
175	313		to and including the amount of Thirty-five Dollars
176	314		($35.00) One Hundred Eighty-nine Dollars ($189.00),
177	315		there shall be allowed an acqu isition charge for
178		-
179		-	ENR. S. B. NO. 1687 Page 5
180	316		making the loan not in ex cess of one-tenth (1/10) of
181	317		the amount of the principal. In addition thereto, an
182	318		installment account handling charge shall be allowed
	319	+
	320	+	SB1687 HFLR Page 7
	321	+	BOLD FACE denotes Committee Amendments. 1
	322	+	2
	323	+	3
	324	+	4
	325	+	5
	326	+	6
	327	+	7
	328	+	8
	329	+	9
	330	+	10
	331	+	11
	332	+	12
	333	+	13
	334	+	14
	335	+	15
	336	+	16
	337	+	17
	338	+	18
	339	+	19
	340	+	20
	341	+	21
	342	+	22
	343	+	23
	344	+	24
	345	+
183	346		not to exceed Three Dollars ($3.00) Sixteen Dollars
184	347		and twenty cents ($16.20) per month,
185		-
186	348		c. on any loan of an amount in e xcess of Thirty-five
187	349		Dollars ($35.00) One Hundred Eighty-nine Dollars
188	350		($189.00) but not more than Seventy Dollars ($70.00)
189	351		Three Hundred Seventy -eight Dollars ($378.00), there
190	352		shall be allowed an acquisition char ge for making the
191	353		loan not in excess of one -tenth (1/10) of the amount
192	354		of the principal. In addition thereto, an installment
193	355		account handling charge shall be allowed not to exceed
194	356		Three Dollars and fifty cents ($3.50) Eighteen Dollars
195	357		and ninety cents ($18.90) per month,
196		-
197	358		d. on any loan of an amount i n excess of Seventy Dollars
198	359		($70.00) Three Hundred Seventy-eight Dollars ($378.00)
199	360		but not in excess of One Hundred Dollars ($100.00)
200	361		Five Hundred and Forty Dollars ($540.00 ), there shall
201	362		be allowed an acquisit ion charge for making the loan,
202	363		not in excess of one-tenth (1/10) of the amount of the
203	364		principal. In addition thereto, an installment
204	365		account handling charge shall be allowed not to exce ed
205	366		Four Dollars ($4.00) Twenty-one Dollars and sixty
206	367		cents ($21.60) per month,
207		-
208	368		e. on any loan in an amount in exce ss of One Hundred
209	369		Dollars ($100.00) Five Hundred Forty Dollars ($540.00)
	370	+
	371	+	SB1687 HFLR Page 8
	372	+	BOLD FACE denotes Committee Amendments. 1
	373	+	2
	374	+	3
	375	+	4
	376	+	5
	377	+	6
	378	+	7
	379	+	8
	380	+	9
	381	+	10
	382	+	11
	383	+	12
	384	+	13
	385	+	14
	386	+	15
	387	+	16
	388	+	17
	389	+	18
	390	+	19
	391	+	20
	392	+	21
	393	+	22
	394	+	23
	395	+	24
	396	+
210	397		up to and including th e amount of One Hundred Fifty
211	398		Dollars ($150.00) Eight Hundred Ten Dollars ($810.00),
212	399		there shall be allowed an acqui sition charge for
213	400		making the loan not in exce ss of one-tenth (1/10) of
214	401		the amount of the principal. In addition thereto, an
215	402		installment account handling charge shall be allowed
216	403		not to exceed Four Dollars and fifty cent s ($4.50)
217	404		Twenty-four Dollars and thirty cents ($24.30) per
218	405		month,
219		-
220	406		f. on any loan of an amount in excess of One Hundred
221	407		Fifty Dollars ($150.00) Eight Hundred Ten Dollars
222		-
223		-	ENR. S. B. NO. 1687 Page 6
224	408		($810.00) but not more than Two Hundred Dollars
225	409		($200.00) One Thousand Eighty Dollars ($1,080.00),
226	410		there shall be allowed a n acquisition charge for
227	411		making the loan not in excess of one-tenth (1/10) of
228	412		the amount of the principal. In addition thereto, an
229	413		installment account handling charge sh all be allowed
230	414		not to exceed Five Dollars ($5.00) Twenty-seven
231	415		Dollars ($27.00) per month,
232		-
233	416		g. on any loan of an amount in excess of Two Hundred
234	417		Dollars ($200.00) One Thousand Eighty Dollars
235	418		($1,080.00) but not more than Two Hundred Fifty
236	419		Dollars ($250.00) One Thousand Three Hundred Fifty
237	420		Dollars ($1,350.00), there shall be allowed an
	421	+
	422	+	SB1687 HFLR Page 9
	423	+	BOLD FACE denotes Committee Amendments. 1
	424	+	2
	425	+	3
	426	+	4
	427	+	5
	428	+	6
	429	+	7
	430	+	8
	431	+	9
	432	+	10
	433	+	11
	434	+	12
	435	+	13
	436	+	14
	437	+	15
	438	+	16
	439	+	17
	440	+	18
	441	+	19
	442	+	20
	443	+	21
	444	+	22
	445	+	23
	446	+	24
	447	+
238	448		acquisition charge for making the loan not in excess
239	449		of one-tenth (1/10) of the amount of the principal.
240	450		In addition thereto, an installment acco unt handling
241	451		charge shall be allowed not to exceed Five Dollars and
242	452		fifty cents ($5.50) Twenty-nine Dollars and seventy
243	453		cents ($29.70) per month, and
244		-
245	454		h. on any loan of an amount in excess of Two Hundred
246	455		Fifty Dollars ($250. 00) One Thousand Three Hundred
247	456		Fifty Dollars ($1,350.00) but not more than Three
248	457		Hundred Dollars ($300.00) One Thousand Six Hundred
249	458		Twenty Dollars ($1,620.00), there shall be allowed an
250	459		acquisition charge for making the loan not in excess
251	460		of one-tenth (1/10) of the amount of the principal.
252	461		In addition thereto, an installment account handling
253	462		charge shall be allowed not to exceed Six Dollars
254	463		($6.00) Thirty-two Dollars and forty cents ($32.40)
255	464		per month,
256		-
257	465		i. on any loan of an amount in excess of One Thousand Six
258	466		Hundred Twenty Dollars ($1,620.00) but not more than
259	467		Two Thousand Dollars ($2,000.00), there shall be
260	468		allowed an acquisition charge for making th e loan not
261	469		in excess of one-tenth (1/10) of the amount of
262	470		principal. In addition thereto, an installment
	471	+
	472	+	SB1687 HFLR Page 10
	473	+	BOLD FACE denotes Committee Amendments. 1
	474	+	2
	475	+	3
	476	+	4
	477	+	5
	478	+	6
	479	+	7
	480	+	8
	481	+	9
	482	+	10
	483	+	11
	484	+	12
	485	+	13
	486	+	14
	487	+	15
	488	+	16
	489	+	17
	490	+	18
	491	+	19
	492	+	20
	493	+	21
	494	+	22
	495	+	23
	496	+	24
	497	+
263	498		account handling charge shall be allowed not to exceed
264	499		Forty Dollars ($40.00) per month ,
265		-
266		-
267		-	ENR. S. B. NO. 1687 Page 7
268	500		j. on any loan of an amount in excess of Two Thousand
269	501		Dollars ($2,000.00) but not more than Tw o Thousand
270	502		Five Hundred Dollars ($2,500.00), there shall be
271	503		allowed an acquisition charge for making the loan not
272	504		in excess of one-tenth (1/10) of the amount of
273	505		principal. In addition th ereto, an installment
274	506		account handling charge shall be allowed not to exceed
275	507		Fifty Dollars ($50.00) per month, and
276		-
277	508		k. on any loan of an amount in excess of Two Thousand
278	509		Five Hundred Dollars ($2,500.00) but not more than
279	510		Three Thousand Dollars ($3,000.00), there shall be
280	511		allowed an acquisition charge for making the loan not
281	512		in excess of one-tenth (1/10) of the amount of
282	513		principal. In addition thereto, an installment
283	514		account handling charge shall be allowed not to exceed
284	515		Sixty Dollars ($60.00) per month.
285		-
286	516		2. The maximum term of any loan made under the terms of this
287	517		section shall be one (1) month for each Ten Dollars ($10.00) of
288	518		principal up to a maximum term of eighteen (18) months. Provided,
289	519		however, that under subparagraphs e through h i of paragraph 1 of
290	520		this subsection section the maximum terms shall be one (1) month for
291	521		each Twenty Dollars ($20.00) of principal up to a maximum t erm of
	522	+
	523	+	SB1687 HFLR Page 11
	524	+	BOLD FACE denotes Committee Amendments. 1
	525	+	2
	526	+	3
	527	+	4
	528	+	5
	529	+	6
	530	+	7
	531	+	8
	532	+	9
	533	+	10
	534	+	11
	535	+	12
	536	+	13
	537	+	14
	538	+	15
	539	+	16
	540	+	17
	541	+	18
	542	+	19
	543	+	20
	544	+	21
	545	+	22
	546	+	23
	547	+	24
	548	+
292	549		eighteen (18) months, and under subparagraphs j and k of paragraph 1
293	550		of this section, the maximum terms shall be one (1) mo nth for each
294	551		Twenty Dollars ($20.00) of principal to a maximum term of twenty -
295	552		four (24) months.
296		-
297	553		3. The minimum term of any loan made under the terms of
298	554		subparagraphs a through h k of paragraph 1 of this subsection
299	555		section shall be no less than sixty (60) days. Any loan made under
300	556		the terms of this section shall be scheduled to be payable in
301	557		substantially equal installments at not less than thirty-day
302	558		intervals, with the first installment to be scheduled to be due not
303	559		less than one (1) calendar month after the date such loan is made .
304		-
305	560		4. Loans made under this section may be refinan ced or
306	561		consolidated according to the provisions of this s ection,
307	562		notwithstanding anything in Section 2-101 et seq. of this title to
308	563		the contrary. When a loan made unde r this section is refinanced or
309	564		consolidated, installment account handling charges on th e loans
310		-
311		-	ENR. S. B. NO. 1687 Page 8
312	565		being refinanced or consolidated must be rebated pursuant to the
313	566		provisions regarding rebate on prepayment (Section 3 -210 of this
314	567		title) as of the date of refin ancing or consolidation. For the
315	568		purpose of determining the amount of acquisition and i nstallment
316	569		account handling charges permitted in relation to the refinancing or
317	570		the consolidation of loans made under this section, the principal
318	571		resulting from the ref inancing or consolidation is the total of the
319	572		unpaid balances of the principal of the lo ans being refinanced or
	573	+
	574	+	SB1687 HFLR Page 12
	575	+	BOLD FACE denotes Committee Amendments. 1
	576	+	2
	577	+	3
	578	+	4
	579	+	5
	580	+	6
	581	+	7
	582	+	8
	583	+	9
	584	+	10
	585	+	11
	586	+	12
	587	+	13
	588	+	14
	589	+	15
	590	+	16
	591	+	17
	592	+	18
	593	+	19
	594	+	20
	595	+	21
	596	+	22
	597	+	23
	598	+	24
	599	+
320	600		consolidated, plus any new money advanced, and any delinque ncy or
321	601		deferral charges if due and unpaid, less any unearned acquisition
322	602		and installment account handling charges imposed i n connection with
323	603		loans being refinanced or consol idated.
324		-
325	604		5. On such loans under this section, no insuranc e charges or
326	605		any other charges of any nature whatsoever shall be permitted.
327		-
328	606		6. Except as otherwise provided, t he acquisition charge
329	607		authorized herein shall be deemed to be earned at the time a loan is
330	608		made and shall not be subject to refund. Provided, ho wever, in a
331	609		loan made under this section which is prepaid in full, refinanced or
332	610		consolidated within the first sixty (60) days, the acquisition
333	611		charge under this section will not be fully earned at t he time the
334	612		loan is made, but must be refunded pro rata a t the rate of one-
335	613		sixtieth (1/60) of the acquisition charge for each day from the date
336	614		of the prepayment, refin ancing or consolidation to the sixtiet h day
337	615		of the loan. On the prepayment of any loan under this section, the
338	616		installment account handling char ge shall be subject to the
339	617		provisions of Section 3-210 of this title as it relates to refunds.
340	618		Provisions of Section 3-203 of this title as it relat es to
341	619		delinquency charges and Section 3-204 of this title as it relates to
342	620		deferral charges shall apply to loans made under the secti on.
343		-
344	621		SECTION 3. This act shall become effective November 1, 2022.
345	622
346		-
347		-	ENR. S. B. NO. 1687 Page 9
348		-	Passed the Senate the 23rd day of March, 2022.
349		-
350		-
351		-
352		-	Presiding Officer of the Senate
353		-
354		-
355		-	Passed the House of Representatives the 28th day of April, 2022.
356		-
357		-
358		-
359		-	Presiding Officer of the House
360		-	of Representatives
361		-
362		-	OFFICE OF THE GOVERNOR
363		-	Received by the Office of the Governor this _______ _____________
364		-	day of ___________________, 20_______, at _______ o'clock _______ M.
365		-	By: _______________________________ __
366		-	Approved by the Governor of the State of Oklahoma this _____ ____
367		-	day of _________________ __, 20_______, at _______ o'clock _______ M.
368		-
369		-	______________________________ ___
370		-	Governor of the State of Oklahoma
371		-
372		-
373		-	OFFICE OF THE SECRETARY OF STATE
374		-	Received by the Office of the Secretary of State this _______ ___
375		-	day of __________________, 20 _______, at _______ o'clock _______ M.
376		-	By: _______________________________ __
	623	+	COMMITTEE REPORT BY: COMMITTEE ON BANKING, FINANCIAL SERVICES AND
	624	+	PENSIONS, dated 04/04/2022 - DO PASS.