Types (2)
Secured Promissory Note – This document details repayment terms on a loan where the borrower puts up personal assets as collateral.
Download: PDF, Word (.docx), OpenDocument
Unsecured Promissory Note – An uncollateralized financial repayment agreement.
Download: PDF, Word (.docx), OpenDocument
Laws
- Interest & Usury Laws: Chapter 6 – Loans of Money
- Usury Rate with Contract (§ 266): Any rate may be agreed upon by both parties.
- Usury Rate without Contract (§ 266): 6%
- Usury Rate for Monetary Judgments (12 O.S. § 727(B)): 10%