>>26825785It's not true. Loli is derived from lolita, which is a petite bodytype, often associated with child-like proportions.
Now, you dont have to be a child to be loli. A petite adult can still have a loli bodytype, many do.
But all children are technically loli's because, well, if you're a child, then you have a child bodytype. Makes sense, right?
So no, it's not associated with age directly, but it's pretty easy to make the connection seeing most loli art will be of underage characters, and the whole lolita fashion appeal is to look cutesy and innocent, and overly child-like.
A thousand year old dragon, could be a loli, if she has a loli body type.
Oppai-loli is generally just "child-like face" but she is also "thick" and with tits, and is generally more directed towards the petite "teen/adult crowd", rather than the "this character looks/is underage" crowd.
TL;DR - There's a lot of sub-term shit, but the only real definitive description of loli is that it's to describe petite girls, or girls that look/are underage.