Restrictions on interest in motor vehicles as security.

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  2. Oklahoma Statutes
  3. Consumer Credit Code
  4. Restrictions on interest in motor vehicles as security.

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Restrictions on interest in motor vehicles as security.

With respect to a supervised loan made under the provisions of Section 3-508B of this title in which the principal is Three Hundred Dollars ($300.00) or less, a lender may not contract for an interest in motor vehicles as security. A security interest taken in violation of this section is void.

Added by Laws 1997, c. 288, § 6.


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