Okla. Admin. Code § 660:11-3-1
Current through Vol. 41, No. 19, June 17, 2024
The following words and terms, when used in this subchapter, shall have the following meaning, unless the context clearly indicates otherwise:
"Allowance" means an allowance for loan losses or a reserve against bad debts.
"Net loans outstanding" means total gross loans outstanding less unearned discount.
"Nonperforming loan" means a loan over 90 days past due with respect to principal and/or interest.
"Uncollectible" means the potential for collection is virtually nonexistent.
"Worthless" means lacking value.
Okla. Admin. Code § 660:11-3-1