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STATE OF OKLAHOMA
1st Session of the 60th Legislature (2025)
HOUSE BILL 1470 By: Blancett
AS INTRODUCED
An Act relating to the Consumer Credit Code;
requiring lenders make certain disclosures for loans;
requiring disclosure appear on first page; requiring
signature; providing for codification; and providing
an effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statut es as Section 3-314 of Title 14A, unless there
is created a duplication in num bering, reads as follows:
A. Lenders shall disclose to a debtor, to whom a loan is made,
the interest rate on the loan, whether it a fixed or variable
interest rate, and a table of all other charges and fees associated
with the loan.
B. The disclosure required under subsection A of this section
shall be made on the first page of the loan documents and the lender
shall require the debtor to sign or initial the disclosure affirming
that they have read and understood all charges, fees, and interest
related to the loan.
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SECTION 2. This act shall become effective November 1, 2025.
60-1-11574 AQH 12/13/24