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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1321.56 | Forfeiting general loan interest for interest rate violation.

Ohio Revised Code
/
Title 13 Commercial Transactions
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Chapter 1321 Various Loans
 
Effective:
June 13, 1996
Latest Legislation:
Senate Bill 189 - 121st General Assembly
PDF:
Download Authenticated PDF
 

Any person who willfully violates section 1321.57 of the Revised Code shall forfeit to the borrower the amount of interest paid by the borrower. The maximum rate of interest applicable to any loan transaction that does not comply with section 1321.57 of the Revised Code shall be the rate that would be applicable in the absence of sections 1321.51 to 1321.60 of the Revised Code.

Last updated November 5, 2021 at 3:46 PM

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