Please note that there has been a revision made to the LAW®553-OK(4P)8/25 contract as well as the LAW®553-OK-ARB8/25. The new form numbers are LAW®553-OK(4P)8/26 and LAW®553-OK-ARB8/26.
Effective July 1, 2026, the allowable late charge will increase from $33.00 to $34.00. We modified the Late Charge section to reflect the new amount.
New programming may be required for the new revision. The standard and ARB preprint versions will not line up the same as each other for programming purposes.
Inventory for the new product will be available by July 6, 2026. Dealers should begin using the new contract by August 1, 2026. The electronic and laser versions (e, ea, eps and eps-14) of the 553-OK contracts will also be revised to reflect the same changes and should be used by August 1, 2026.
The Bankers Systems®brand Motor Vehicle Retail Installment Sale Contracts will also be revised and announced in a separate message.