1315.42 Suspension or revocation of license.

(A) The superintendent of financial institutions shall, in accordance with Chapter 119. of the Revised Code, suspend or revoke a license issued pursuant to sections 1315.35 to 1315.44 of the Revised Code, if the superintendent determines that any of the following applies:

(1) The check-cashing business has failed to comply with any order issued by the superintendent pursuant to section 1315.43 of the Revised Code.

(2) The check-cashing business has continued to violate any provision of sections 1315.35 to 1315.44 of the Revised Code or any rule adopted under section 1315.43 of the Revised Code after receiving notice of such violation or violations from the superintendent.

(3) Any fact or condition exists that if it had existed or had been known to exist at the time of original or renewal licensure pursuant to sections 1315.35 to 1315.44 of the Revised Code, the fact or condition clearly would have warranted the superintendent to refuse to issue a license pursuant to those sections.

(B) The superintendent shall have the same authority as described in section 1315.24 of the Revised Code to make an investigation or conduct any hearing to determine whether a violation of sections 1315.35 to 1315.44 of the Revised Code, or of any rule or order adopted or issued under section 1315.43 of the Revised Code, has occurred.

(C) As often as the superintendent considers it necessary, the superintendent may examine the records of a check-cashing business licensed pursuant to sections 1315.35 to 1315.44 of the Revised Code.

Effective Date: 09-26-1996