1301:8-5-03 Notifications to the superintendent.

(A) The notification referenced in division (A) of section 4727.04 of the Revised Code concerning a pending move of a licensee’s business location shall be delivered to the superintendent of financial institutions in writing at least thirty days prior to commencing business as a pawnbroker at the new location.

(B) The notification referenced in division (C) of section 4727.04 of the Revised Code concerning changes to a licensee’s posted hours of operation shall be delivered to the superintendent in writing at least two business days prior to the effective date of the changes.

(C) The notification referenced in division (G) of section 4727.03 of the Revised Code concerning the surrender or non-renewal of a licensee’s license shall be delivered to the superintendent in writing no later than one month and no sooner than three months prior to the date on which the licensee intends to cease conducting business as a pawnbroker. The notice required by this paragraph shall state whether the licensee intends to dispose of active loans or reduce the rate of interest on such loans. If the licensee intends to dispose of the loans, the notice shall state the name and address of the licensee to whom the loans will be sold, transferred, or assigned.

(D) Each location of a licensee shall notify the superintendent in writing within ten business days of the newly designated individual or salesperson who is to meet the continuing education requirements referenced in divisions (A) to(C) of section 4727.19 of the Revised Code in the event the originally designated individual or salesperson is unable, for any reason, to comply with the continuing education requirements.

(E) The written notifications prescribed by this rule may be delivered by postal mail, in person, or via fax.

Effective: 06/16/2005

R.C. 119.032 review dates: 11/15/2009

Promulgated Under: 119.03

Statutory Authority: 4727.13

Rule Amplifies: 4727.03, 4727.04, 4727.13?, 4727.19