Okla. Admin. Code § 540:30-11-2

Current through Vol. 42, No. 1, September 16, 2024

Section 540:30-11-2 - Penalty for breach of contract

In the event that a loan recipient breaches the terms of the contract, he/she may be assessed liquidated damages which represent a reasonable estimate of the damage or loss of the State and/or the sponsor (if applicable). Said damages are not to exceed 100% of the principal.

Okla. Admin. Code § 540:30-11-2

Amended by Oklahoma Register, Volume 37, Issue 23, August 17, 2020, eff. 7/10/2020

Amended by Oklahoma Register, Volume 38, Issue 23, August 16, 2021, eff. 8/26/2021