1301:8-8-01 General Provisions.

(A) As used in section 1315.26 of the Revised Code, “three percent of the face amount of the check” refers to the aggregate total of any and all fees and other charges, including but not limited to membership or bank processing fees. Fees paid by customers to buy money orders shall not be counted towards the three percent fee limit. As used in division (A) of section 1315.26 of the Revised Code, “check” and “checks” mean a “government check” as defined in paragraph (E) of this rule.

(B) As used in section 1315.26 of the Revised Code, “state agency” refers to an agency of this state.

(C) In the event books, records, data and documents of a check-cashing business are located outside Ohio, the check-cashing business shall be required, upon the request of the superintendent of financial institutions, to pay in advance the estimated costs of the examination of the check-cashing business outside the state of Ohio. The estimated costs of such examination, as determined by the superintendent, shall be deposited with the division of financial institutions upon demand. After the actual costs of the out-of-state examination have been determined, any funds in excess of costs as itemized by the division shall be returned to the check-cashing business.

(D) As used in this chapter, “cash” means United States currency and does not include a check, draft, traveler’s check, money order or other instrument for the transmission of money.

(E) As used in paragraph (C) of rule 1301-8-8-03, “government check” means a check issued by this state, a state agency, a political subdivision of this state, or the United States and includes but is not limited to checks issued by state universities and public school districts located in Ohio.

R.C. 119.032 review dates: 01/03/2005 and 11/15/2009

Promulgated Under: 119.03

Statutory Authority: 1315.27

Rule Amplifies: 1315.21, 1315.26

Prior Effective Dates: 1-22-95, 12-22-03