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This website publishes administrative rules on their effective dates, as designated by the adopting state agencies, colleges, and universities.

Rule 109:4-3-25 | Debt collection agreements.

 

For purposes of division (B)(11) of section 1345.031 of the Revised Code, "debt collection agreement" means any debt cancellation, deferment, suspension or any similar product coverage (whether or not insurance under applicable law), written in connection with a residential mortgage, that provides for cancellation, deferment or suspension of all or part of the consumers liability for the residential mortgage in the event of loss of life, health, or income, or in the case of accident, unless financed or calculated upon a monthly basis.

Supplemental Information

Authorized By: 1345.05
Amplifies: Chapter 1345.031(B)(11)
Five Year Review Date: 4/28/2022