Ohio Revised Code Search

...the superintendent a fee equal to four times the amount of the fee determined by the superintendent pursuant to division (A) of this section. However, in no event shall the amount of the fee exceed six hundred dollars. (C) The fee for a license or certificate issued pursuant to Chapter 4727. or 4728. of the Revised Code after the first day of January of the year the license or certificate expires shall be eq...

...services rendered by the department of commerce for the division's administration of Chapters 1321., 1322., 4712., 4727., and 4728., sections 1315.21 to 1315.30, and sections 1349.25 to 1349.37 of the Revised Code, shall be paid from the fund. The fund shall be assessed a proportionate share of the administrative costs of the department and the division. The proportionate share of the administrative costs of the divi...

...have priority as to each other from the time they are filed with the employer of the assignor, and the balance due any married person after twenty-five per cent has been so assigned, or due any unmarried person after fifty per cent has been so assigned is not subject to further assignment.

...vided that the same be revocable at any time by the employee upon notice to the employer up to the time of payment thereof.

...such assignments or orders are made to comply with an order of a court of record. The employee may assign whatever portion of his earnings that may be required to comply with the court order for support.

...Revised Code, shall be included in the computation of the annual percentage rate. (E) "Licensee" means a person licensed to make short-term loans under sections 1321.35 to 1321.48 of the Revised Code.

...thout first having obtained a license from the superintendent of financial institutions under sections 1321.35 to 1321.48 of the Revised Code. (B) No person shall make, offer, or broker a loan, or assist a borrower to obtain a loan, via the telephone or mail. (C) Any loan made in violation of this section is void, and the lender has no right to collect, receive, or retain any principal, interest, fees, or other cha...

...original or renewal license shall be accompanied by an original or renewal license fee, for each business location of one thousand dollars, except that applications for original licenses issued on or after the first day of July for any year shall be accompanied by an original license fee of five hundred dollars, and except that an application for an original or renewal license, for a nonprofit corporation that is inc...

...al licenses to the same applicant upon compliance with those sections. (2) No change in the place of business of a licensee to a location outside the original municipal corporation shall be permitted under the same license. When a licensee wishes to change its place of business within the same municipal corporation, written notice thereof shall be given in advance to the superintendent who shall provide w...

...orization for electronic payment at any time." (D) The loan is a precomputed loan and is payable in substantially equal installments consisting of principal, fees, and interest combined. For purposes of this division, "precomputed loan" means a loan in which the debt is a sum comprising the principal amount and the amount of fees and interest computed in advance on the assumption that all scheduled payments will be ...

...er, 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.

...nty dollars plus any amount passed on from other financial institutions for each check, negotiable order of withdrawal, share draft, or other negotiable instrument returned or dishonored for any reason, provided that the terms and conditions upon which check collection charges will be charged to the borrower are set forth in the written loan contract described in division (C) of section 1321.39 of the Revised Code; ...

...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.

...ior 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 considered to be fully earned at the beginning of a month.

... 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 charges except for all of the following: (A) The check collection ...

...g out multiple loans over any period of time, or provide a short-term loan at no charge or at a discounted charge as compensation for any previous or future business; (P) Present a check, negotiable order of withdrawal, share draft, or other negotiable instrument, that has been previously presented by the licensee and subsequently returned or dishonored for any reason, without prior written approval from the borrowe...

...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.

...sted or had been known to exist at the time of original or renewal licensure pursuant to sections 1321.35 to 1321.48 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 may make any investigation and conduct any hearing the superintendent considers necessary to determine whether any person ha...

...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.

...s 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 those pertaining to transactions that are not subject to sections 1321.35 to 1321.48 of the Revised Code. Every licensee shall preserve the books, accounts, records, and ...

...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 ...

...) When a judgment under this section becomes final, the clerk of court shall mail a copy of the judgment, including supporting opinions, to the superintendent.

... respond within a reasonable period of time to communication from the debt collector. (C) A debt collector, without the prior consent of the borrower given directly to the debt collector or without the express permission of a court of competent jurisdiction, may not communicate with a borrower in connection with the collection of any debt: (1) At any unusual time or place or a time or place known or which sho...

...ble 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 shall include at least one document that, when presented to the licensee, is dated not earlier than f...

...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 of business in connection with a short-term loan. (B) The duties and standards of care created in this section may not be waived o...