(A) As used in this section:
(1) "Revolving credit agreement" means an agreement pursuant to which a credit union contemplates repeated transactions and the amount of credit that may be extended pursuant to the agreement is made available to the extent that any outstanding balance is repaid. "Revolving credit agreement" does not include an agreement secured by a residential mortgage.
(B) Notwithstanding any limitations contained in sections 1733.25 , 1733.251 , or any other section of the Revised Code, a credit union may charge interest, fees, and other charges under a revolving credit agreement at the same or lower rates or amounts that a credit union located in another state may charge its revolving credit customers in this state.
Cite as R.C. § 1733.253
History. Added by 129th General AssemblyFile No.109, HB 322, §1, eff. 9/4/2012.