In the state of Oklahoma, the late fee dollar amount found in Okla. Stat. tit. 14a, § 3-203 is subject to adjustment on July 1 of each year pursuant to Section 1-106 of the Oklahoma Uniform consumer Credit Code.
The Oklahoma Department of Consumer Credit has published its annual updates of dollar amounts for 2019. Effective July 1, 2019, the Oklahoma late fee dollar amount will increase from $25.50 to $26.00. A full list of the changes in dollar amounts for 2019 can be found here.
The DocMagic system and Late Fee Matrix will be updated on July 1, 2019, to reflect the late fee increase. If you have any questions, please contact DocMagic’s Compliance Department.