(A) In accordance with sections 1315.21 to 1315.30 of the Revised Code each check-cashing business shall obtain a license for its main office. An application, license fee and investigation fee shall also be submitted to the division of financial institutions for authorization for each additional business location where check-cashing activity is to be conducted. Every subsequent application for additional business locations shall be accompanied by an initial investigation fee and an annual license fee.
(B) A check-cashing business shall notify the superintendent, in writing, within ten business days if the net worth of the check-cashing business becomes less than twenty-five thousand dollars.
(C) Every check-cashing business shall notify the division of financial institutions in writing thirty days prior to the effective date of a relocation or change in the address of any of its business locations. If a check-cashing business intends to move any of its business locations, authorization from the division of financial institutions must be obtained prior to conducting business at the new location.
R.C. 119.032 review dates: 01/07/2010 and 05/01/2015
Promulgated Under: 119.03
Statutory Authority: 1315.27
Rule Amplifies: 1315.22, 1315.23
Prior Effective Dates: 1/22/1995, 11/13/1997