Oklahoma Statutes
Okla. Stat. tit. 15, § 266 (2026)
Legal and contract rates of interest
✓ current as of July 2026
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The legal rate of interest shall be six percent (6%) in the absence of any contract as to the rate of interest, and by contract parties may agree to any rate as may be authorized by law, now in effect or hereinafter enacted. R.L.1910, § 1004; Laws 1970, c. 224, § 3, emerg. eff. April 15, 1970.
Notes of Decisions
Cited in 27
cases (2 in the last 5 years), 1962–2025 · leading case: Harrell v. Samson Resources Co., 1998 OK 69 (Okla. 1998).
Harrell v. Samson Resources Co., 1998 OK 69 (Okla. 1998). “*109 § 6, 4 we found that a sum certain was due to Heiman on May 3, 1983, and awarded interest from that date at the rate of 6% per annum based upon 15 O.S. § 266, which provides: “Legal and Contract Rates of Interest.”
Carter v. City of Oklahoma City, 862 P.2d 77 (Okla. 1993). “The court awarded interest to Landowners according to law as to judgments against municipalities, 15 O.S.1991 § 266, at 6% interest from the date of taking to the date of judgment, December 18, 1989 in the amount of $14,704.”
Chandler-Frates & Reitz v. Kostich, 630 P.2d 1287 (Okla. 1981). “The judgment was modified because the court found prejudgment interest had erroneously been granted at the rate of ten percent per annum 2 instead of at six per *1289 cent as provided by 15 O.S.1971 § 266. 3 The court determined that it had been “without jurisdiction” to enter…”
Heiman v. Atl. Richfield Co., 891 P.2d 1252 (Okla. 1995). “ARCO argued in the trial court that if an interest rate did apply the 6% rate of 15 O.S.1981 § 266 was proper. 7 Heiman argued for a greater rate because of market conditions.”
Shutts v. Phillips Petroleum Co., 732 P.2d 1286 (Kan. 1987). “INTEREST RATE Okla. Stat. tit. 15, § 266 (1981) provides as follows: “The legal rate of interest shall be six percent (6%) in the absence of any contract as to the rate of interest, and by contract the parties may agree to any rate as may be authorized by law, now in effect or…”
Ionic Petroleum, Ltd. v. Third Fin. Corp., 411 P.2d 492 (Okla. 1966). “We consider it noteworthy plaintiff’s claim that an illegal rate of interest was charged and received under this contract necessarily is derived from reliance upon the provisions of 15 O.S.1961, §§ 266, 267, the usury statutes which plaintiff contends are not applicable herein.”
State Ex Rel. Dep't of Highways v. Berry, 495 P.2d 401 (Okla. 1972). “See 15 O.S.1961, § 266, for the legal rate of interest; and 15 O.”
Simpson Props., Inc. v. Oexco, Inc., 916 P.2d 853 (Okla. Civ. App. 1996). “" [8] Based on the application of a three-year statute of limitations and its argument that the finance charge should be limited to six per cent annually under 15 O.S.1991 § 266, Oexco concludes Simpson could recover no more than $1,266.”
Webster Drilling Co. v. Sterling Oil of Oklahoma, Inc., 376 P.2d 236 (Okla. 1962). “1961 § 22, and 15 O.S.1961 § 266) interest at the rate of 6% was owing on the account in controversy.”
Metro. Elec. Co. v. Mel-Jac Constr. Co., 576 P.2d 323 (Okla. Civ. App. 1978). “In the first place the trial court allowed 10 percent interest which exceeds the legal rate of interest (six percent) set by 15 O.S.1971 § 266, and the contract does not contain a higher interest agreement.”
CIT Corp. v. Edwards, 418 P.2d 685 (Okla. 1966). “15 O.S.1961, §§ 266, 267. The evidence establishes, and the plaintiff concedes on this appeal, that the interest charged by the plaintiff exceeds ten per cent in violation of our statutes.”
Rendezvous Trails of Am., Inc. v. Ayers, 612 P.2d 1384 (Okla. Civ. App. 1980). “15 O.S.1971 § 266. 4 . 12 O.S.1971 § 727, as amended in 1979.”
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