Ohio Revised Code Search

...As used in sections 1321.35 to 1321.48 of the Revised Code: (A) "Short-term loan" means a loan made pursuant to sections 1321.35 to 1321.48 of the Revised Code. (B) "Superintendent of financial institutions" includes the deputy superintendent for consumer finance as provided in section 1181.21 of the Revised Code. (C) "Interest" means all charges payable directly or indirectly by a borrower to a licensee as a cond...

...s bank, trust company, savings and loan association, or credit union, or a subsidiary of any such entity, which subsidiary is regulated by a federal banking agency and is owned and controlled by a depository institution.

...(A) Application for an original or renewal license to make short-term loans shall be in writing, under oath, and in the form prescribed by the superintendent of financial institutions, and shall contain the name and address of the applicant, the location where the business of making loans is to be conducted, and any further information as the superintendent requires. At the time of making an application for an origin...

...(A) A license issued by the superintendent of financial institutions pursuant to sections 1321.35 to 1321.48 of the Revised Code shall state the address at which the business of making loans is to be conducted and shall state the full name of the business. Each license issued shall be conspicuously posted in the place of business and is not transferable or assignable. (B)(1) Not more than one place of busin...

...A licensee may engage in the business of making loans provided that each loan meets all of the following conditions: (A) The total amount of the loan does not exceed one thousand dollars. (B)(1) Subject to division (B)(2) of this section, the minimum duration of the loanis ninety-one days and the maximum duration of the loan is one year. (2) The minimum duration of the loan may be less than ninety-one days if the ...

...If the duration of a short-term loan is ninety-one days or greater, the licensee shall determine the recommended length of a loan based on the borrower's verified monthly income as described in division (B)(2) of section 1321.39 of the Revised Code. The licensee shall provide the borrower with a written copy of its recommendation, which is not binding on the borrower.

...A licensee may charge, collect, and receive only the following fees and charges in connection with a short-term loan: (A) Interest not exceeding a rate of twenty-eight per cent per annum; (B)(1) Except as otherwise provided in division (B)(2) of this section, a monthly maintenance fee that does not exceed the lesser of ten per cent of the originally contracted loan amount or thirty dollars, provided the fee is not ...

...A licensee may refinance a short-term loan provided that all of the following apply to the refinanced loan: (A) The loan is a short-term loan. (B) Interest on the loan does not exceed a rate of twenty-eight per cent per annum. (C) The licensee does not charge, collect, or receive the monthly maintenance fee described in division (B) of section 1321.40 of the Revised Code.

...If a short-term loan is prepaid in full or refinanced prior to the loan's maturity date, the licensee shall refund to the borrower a prorated portion of the interest, monthly maintenance fees, and all other charges based on a ratio of the number of days the loan was outstanding and the number of days for which the loan was originally contracted. For purposes of this section, the monthly maintenance fee is not conside...

...Notwithstanding any provision of sections 1321.35 to 1321.48 of the Revised Code to the contrary, a licensee shall not charge, collect, or receive in connection with a short-term loan a total amount of fees and charges that exceeds sixty per cent of the originally contracted loan amount. For purposes of this section, all charges made in connection with the loan shall be included when calculating the total loan charge...

...) Accept the title or registration of a vehicle, real property, physical assets, or other collateral as security for the obligation; (I) Engage in any device or subterfuge to evade the requirements of sections 1321.35 to 1321.48 of the Revised Code including assisting a borrower to obtain a loan on terms that would be prohibited by sections 1321.35 to 1321.48 of the Revised Code, making loans disguised as personal p...

...A licensee shall not attempt to collect from a borrower's account after two consecutive attempts have failed, unless the licensee obtains new written authorization from the borrower to electronically transfer or withdraw funds from the borrower's account.

...(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 1321.35 to 1321.48 of the Revised Code, if the superintendent determines that either of the following applies: (1) The licensee has failed to comply with any order issued by the superintendent pursuant to section 1321.43 of the Revised Code. (2) ...

...As often as the superintendent considers it necessary, the superintendent may examine the records of a licensee, but in any case, the superintendent shall examine the records of a licensee at least annually.

...(A) Every licensee shall keep and use in the licensee's business such books, accounts, records, and loan documents as will enable the division of financial institutions to determine whether the licensee is complying with sections 1321.35 to 1321.48 of the Revised Code and with the orders and rules made by the division under those sections. Such books, accounts, records, and loan documents shall be segregated from tho...

...The superintendent of financial institutions, in accordance with Chapter 119. of the Revised Code, may adopt rules and issue specific orders to enforce and carry out the purposes of sections 1321.35 to 1321.48 of the Revised Code. The superintendent shall issue a rule defining "senior officer" for the purpose of section 1321.37 of the Revised Code. The superintendent may adopt, amend, and repeal substantive ...

...(A) A violation of section 1321.41 of the Revised Code is deemed an unfair or deceptive act or practice in violation of section 1345.02 of the Revised Code. A borrower injured by a violation of section 1321.41 of the Revised Code shall have a cause of action and be entitled to the same relief available to a consumer under section 1345.09 of the Revised Code, and all powers and remedies available to the atto...

...(A) As used in this section: (1) "Debt collector" means a licensee, officer, employee, or agent of a licensee, or any person acting as a debt collector for a licensee, or any person while serving or attempting to serve legal process on any other person in connection with the judicial enforcement of any debt resulting from a short-term loan made by a licensee. (2) "Borrower" means a person who has an outstandi...

...(A) Before initiating a short-term loan transaction with a borrower, a licensee shall make a reasonable attempt to verify the borrower's income for purposes of division (B)(2) of section 1321.39 and section 1321.391 of the Revised Code. At a minimum, the licensee shall obtain from the borrower one or more recent pay stubs or other written evidence of recurring income, such as a bank statement. The written evidence s...

...(A) A person licensed, and any person required to be licensed under sections 1321.35 to 1321.48 of the Revised Code, in addition to duties imposed by other statutes or common law, shall do all of the following: (1) Follow reasonable and lawful instructions from the borrower; (2) Act with reasonable skill, care, and diligence; (3) Act in good faith and fair dealing in any transaction or practice or course ...

...(A) The superintendent of financial institutions shall report semiannually to the governor and the general assembly on the operations of the division of financial institutions with respect to the following: (1) Enforcement actions instituted by the superintendent for a violation of or failure to comply with any provision of sections 1321.35 to 1321.48 of the Revised Code, and the final dispositions of each...

...f the United States, Puerto Rico, Guam, American Samoa, the trust territory of the Pacific islands, the virgin islands, and the northern Mariana islands. (P) "Depository institution" has the same meaning as in section 3 of the "Federal Deposit Insurance Act," 64 Stat. 873, 12 U.S.C. 1813, and includes any credit union.

...(A)(1) A registrant may make loans, other than a residential mortgage loan as defined in section 1322.01 of the Revised Code, on terms and conditions provided by sections 1321.51 to 1321.60 of the Revised Code. (2) Each person issued a certificate of registration is subject to all the rules prescribed under sections 1321.51 to 1321.60 of the Revised Code. (B)(1) All loans made to persons who at the time are resid...

...s bank, trust company, savings and loan association, or credit union, or a subsidiary of any such entity, which subsidiary is regulated by a federal banking agency and is owned and controlled by such a depository institution; (2) Life, property, or casualty insurance companies licensed to do business in this state; (3) Any person that is a lender making a loan pursuant to sections 1321.01 to 1321.19 or sections...

...(A) The division of financial institutions may adopt, in accordance with Chapter 119. of the Revised Code, rules that are necessary for the enforcement or administration of sections 1321.51 to 1321.60 of the Revised Code and that are consistent with those sections and rules to carry out the purposes of those sections. (B)(1) The division may, upon written notice to the registrant stating the contemplated action, th...

...nce of the owner or operator of a motor vehicle, may be brought by the person injured against such owner or operator in the county in which such injury occurred. A summons in such action against any defendant shall be issued to the sheriff of any county within this state in which such defendant resides and may be served as in other civil actions.

...esponsible for the operation of a motor vehicle shall not be liable for loss or damage arising from injuries to or death of a guest, resulting from the operation of said motor vehicle, while such guest is being transported without payment therefor in or upon said motor vehicle, unless such injuries or death are caused by the willful or wanton misconduct of such operator, owner, or person responsible for the operation...

...ssession of the shared vehicle. (E) "Motor vehicle" has the same meaning as in section 4509.01 of the Revised Code. (F) "Motor-vehicle liability policy" has the same meaning as in section 4509.01 of the Revised Code. (G) "Peer-to-peer car sharing" means the authorized use of a motor vehicle by an individual other than the motor vehicle's owner through a peer-to-peer car sharing program. (H) "Peer-to-peer ...

... (1) The name and address of the shared vehicle owner and the shared vehicle driver; (2) The driver's license number and state of issuance of the shared vehicle driver and any other person who will operate the shared vehicle during the car sharing period. (B) A peer-to-peer car sharing program shall collect, verify, and maintain records pertaining to the use of each shared vehicle enrolled in the program, inclu...

...itions of the agreement; (B) That any motor-vehicle liability policy or other proof of financial responsibility issued to the shared vehicle owner for the shared vehicle or issued to the shared vehicle driver does not provide a defense against or indemnification for any claim asserted by the program; (C) That the program's motor vehicle insurance coverage on the shared vehicle owner, the shared vehicle driver, an...

...t that is installed in or on the shared vehicle to monitor or facilitate peer-to-peer car sharing. The program shall agree to indemnify and hold harmless the shared vehicle owner for any damage or theft of the system or equipment during the car sharing period that is not caused by the shared vehicle owner. The program may seek indemnity from the shared vehicle driver for any loss or damage to the system or equipment ...

...(A) When a motor vehicle owner registers as a shared vehicle owner with a peer-to-peer car sharing program and before the shared vehicle owner makes the shared vehicle available for peer-to-peer car sharing, the program shall do all of the following: (1) Verify that the shared vehicle does not have any outstanding safety recalls on the vehicle; (2) Provide notice to the shared vehicle owner of the owner's respo...

...Nothing in this chapter shall be construed to exempt any person involved in peer-to-peer car sharing from the provisions of sections 1345.01 to 1345.13 of the Revised Code.

...eer-to-peer car sharing program, shared vehicle owner, and shared vehicle driver shall comply with any applicable standards, regulations, procedures, fees, and agreements adopted by a public-use airport, and shall pay any applicable fees in a timely manner.

...xclusion contained in a policy of motor vehicle liability insurance, including any insurance policy that is in use or that is approved for use that excludes coverage while a motor vehicle is made available for rent, share, hire, or during any business use.

...d party or an uninsured or underinsured motorist that is proximately caused by the operation of the shared vehicle during the car sharing period in an amount stated in the peer-to-peer car sharing program agreement. The amount shall be not less than that specified in division (A)(1) of section 4516.10 of the Revised Code. (B) The assumption of liability under division (A) of this section does not apply if either o...

...ed vehicle driver are each covered by a motor-vehicle liability policy or other proof of financial responsibility. Each policy or proof shall provide coverage in an amount that is not less than the amounts specified in section 4509.51 of the Revised Code. The policy or proof shall do either of the following: (a) Recognize that the motor vehicle insured under the policy or proof is a shared vehicle; (b) Not expr...

...ists as to who was operating the shared vehicle at the time of the loss; (3) The program either does not have available or cannot promptly produce the records required by section 4516.02 of the Revised Code. (B) A peer-to-peer car sharing program may seek indemnity from a shared vehicle owner if the shared vehicle owner is determined to have been the operator of the shared vehicle at the time of the loss. (C) ...

...o-peer car sharing program and a shared vehicle owner shall be exempt from vicarious liability in accordance with 49 U.S.C. 30106 and under any state law or municipal ordinance that imposes liability solely based on vehicle ownership.

...nts insurance coverage not found in any motor-vehicle liability policy or other policy of insurance.

...binations of individuals. (B) "Motor vehicle" means motor vehicle as defined in section 4501.01 of the Revised Code and also includes "all-purpose vehicle" and "off-highway motorcycle" as those terms are defined in section 4519.01 of the Revised Code. "Motor vehicle" does not include a snowmobile as defined in section 4519.01 of the Revised Code or manufactured and mobile homes. "Motor vehicle" includes a "fifth w...

...(A) The distribution and sale of motor vehicles in this state vitally affects commerce, the economy, and the public interest, welfare, and safety. In order to promote the interests of this state, Chapter 4517. of the Revised Code shall be liberally construed in order to ensure a sound system for distributing and selling motor vehicles through all of the following: (1) Enforcing the comprehensive and uniform framewo...

...splaying or selling at retail new motor vehicles or assume to engage in that business, unless the person is licensed as a new motor vehicle dealer under sections 4517.01 to 4517.45 of the Revised Code, or is a salesperson employed by a licensed new motor vehicle dealer; (2) Engage in the business of offering for sale, displaying for sale, or selling at retail or wholesale used motor vehicles or assume to engage in ...

...y to a person auctioning classic motor vehicles, provided all of the following apply: (1) The person is responsible for not more than four auctions of classic motor vehicles per year, with no auction lasting more than two days; (2) The person requests and receives permission for the auction from the registrar of motor vehicles by filing an application for each proposed auction of classic motor vehicles, at l...

... offering for sale, or dealing in motor vehicles shall be considered as used exclusively for those purposes even though snowmobiles, farm machinery, outdoor power equipment, watercraft and related products, or products manufactured or distributed by a motor vehicle manufacturer with which the motor vehicle dealer has a franchise agreement are sold or displayed there, or if repair, accessory, gasoline and oil, storage...

...nt of the previous history, record, and association of the applicant and of each owner, partner, officer, and director, that shall be sufficient to establish to the satisfaction of the registrar the reputation in business of the applicant; (F) A statement showing whether the applicant has previously applied for a motor vehicle dealer's license, motor vehicle leasing dealer's license, distributor's license, or motor...

...de, or a relevant professional or trade association that has been in existence for more than five years and has a majority of members who are motor vehicle dealers licensed in this state; (b) Establish any additional qualifications for course providers; (c) Establish the course curriculum, which shall include information on applicable federal and state law, including consumer protection laws, and shall require ...

...Each person applying for a motor vehicle leasing dealer's license shall biennially, before the first day of April, make out and deliver to the registrar of motor vehicles, upon a blank to be furnished by the registrar for that purpose, a separate application for license for each county in which the business of leasing motor vehicles, as described in division (M) of section 4517.01 of the Revised Code, is to be conduc...

...Each person applying for a motor vehicle auction owner's license shall biennially, before the first day of April, make out and deliver to the registrar of motor vehicles, upon a blank to be furnished by the registrar for that purpose, a separate application for license for each county in which such business is to be conducted. The application shall be in the form prescribed by the registrar, shall be signed and sworn...

...t and deliver to the registrar of motor vehicles, upon a blank to be furnished by the registrar for that purpose, a separate application for license for each place of business maintained. The application shall be in the form prescribed by the registrar, shall be signed and sworn to by the applicant, and, in addition to such other information as is required by the registrar, shall include: (A) Name of applicant and...