Ohio Revised Code Search

...dent 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 such enforcement action; (2) Suspensions, revocations, or refusals to issue or renew licenses under sections 1321.35 to 1321.48 of the Revised Code. (B) The information required under divisions (A)(1) and (2) of this section does not include information that, pu...

...aid principal balances outstanding from time to time. (G) "Precomputed loan" means a loan in which the debt is a sum comprising the principal amount and the amount of interest computed in advance on the assumption that all scheduled payments will be made when due. (H) "Actuarial method" means the method of allocating payments made on a loan between the principal amount and interest whereby a payment is applied firs...

...egistering persons under and requiring compliance with sections 1321.51 to 1321.60 of the Revised Code, the superintendent may do any of the following: (1) Require any person registered under or applying for registration under these sections to do both of the following: (a) Utilize the national multistate licensing system for application, renewal, amendment, or surrender of a license or for any other activity as ...

...ch registrant. (b) Registrants shall timely file renewal applications on forms prescribed by the division and provide any further information that the division may require. If a renewal application does not contain all of the information required under this section, and if that information is not submitted to the division within ninety days after the superintendent requests the information in writing, including by...

...ules establishing the maximum amount of time a suspension under division (G)(1) of this section may continue before a hearing is conducted.

...eral and, within a reasonable period of time, the attorney general has not agreed to bring the action. (B)(1) The prosecuting attorney of the county in which an alleged offense may be prosecuted may initiate criminal proceedings under sections 1321.51 to 1321.60 of the Revised Code. (2) In order to initiate criminal proceedings under sections 1321.51 to 1321.60 of the Revised Code, the attorney general shall first ...

... least two years after making the final entry on such records. Accounting systems maintained in whole or in part by mechanical or electronic data processing methods that provide information equivalent to that otherwise required are acceptable for this purpose. At least once each eighteen-month cycle, the division of financial institutions shall make or cause to be made an examination of records pertaining to loans ma...

...hich any other business is solicited or engaged in, or in association or conjunction with any other such business, if the superintendent of financial institutions finds, pursuant to a hearing conducted in accordance with Chapter 119. of the Revised Code, that the other business is of such a nature that the conduct tends to conceal evasion of sections 1321.51 to 1321.60 of the Revised Code or of the rules adopted unde...

...rate that would be applicable in the absence of sections 1321.51 to 1321.60 of the Revised Code.

...ed. (B) For purposes of computation of time on interest-bearing and precomputed loans, including, but not limited to, the calculation of interest, a month is considered one-twelfth of a year, and a day is considered one three hundred sixty-fifth of a year when calculation is made for a fraction of a month. A year is as defined in section 1.44 of the Revised Code. A month is that period described in section 1.45 of t...

...at any rate or rates agreed upon or consented to by the parties to the loan contract or open-end loan agreement, but not exceeding an annual percentage rate of twenty-five per cent.

...ances of money from the registrant from time to time or the registrant may advance money on behalf of the borrower from time to time as directed by the borrower. (2) The amount of each advance and permitted interest, charges, and costs are debited to the borrower's account and payments and other credits are credited to the same account. (3) The interest and charges are computed on the unpaid balance or balances of ...

...shall induce or permit any person to become obligated to the registrant under sections 1321.51 to 1321.60 of the Revised Code, directly or contingently, or both, under more than one contract of loan at the same time for the purpose or with the result of obtaining greater charges than would otherwise be permitted by sections 1321.51 to 1321.60 of the Revised Code. (C) No registrant shall refuse to provide information...

...No registrant or licensee shall fail to follow the practices set forth in the federal "Fair Debt Collection Practices Act," 91 Stat. 874, 15 U.S.C. 1692, as amended, notwithstanding the fact that the registrant or licensee is seeking to collect upon the registrant's own debt.

...ion. (C) No registrant shall fail to comply with this section.

... any advertisement, a registrant shall comply with 12 C.F.R. 1026.16, as applicable.

... balances on the loan for any period of time, expressed on an annual basis. (E) "Applicable charge" means the amount of interest attributable to each monthly installment period of the loan contract, computed as if each installment period were one month and any charge for extending the first installment period beyond one month is ignored. In the case of loans originally scheduled to be repaid in sixty-one months or ...

...thout first having obtained a license from the superintendent of financial institutions under sections 1321.62 to 1321.702 of the Revised Code: (a) Engage in the business of lending money under sections 1321.62 to 1321.702 of the Revised Code; (b) Contract for, or receive, directly or indirectly, on or in connection with any such loan, any interest and charges that in the aggregate are greater than the interest a...

...that does not require equal monthly payments, unless either of the following applies: (1) The credit transaction contains an interest rate that is tied to a published and verifiable index and the contractual rate of interest is adjusted in accordance with changes in that index. (2) The credit transaction provides for an extension of the first monthly installment period pursuant to division (C)(2)(a) or (D)(1)(a) o...

...riod; (B) Accept a dated instrument from the borrower as security for a loan; (C) Hold an instrument for a period of time prior to negotiation or deposit of the instrument; (D) Pay to a borrower, credit to a borrower's account, or pay to another person on the borrower's behalf the amount of an instrument, less interest, fees, or any other charges permitted by section 1321.68 of the Revised Code; (E) Refinance...

...est that criminal records information from the federal bureau of investigation be obtained. To fulfill this requirement, the superintendent shall do either of the following: (i) Request the superintendent of the bureau of criminal identification and investigation, or a vendor approved by the bureau, to conduct a criminal records check based on the control person's fingerprints or, if the fingerprints are unreadabl...

...stitutions. The application shall be accompanied by a nonrefundable renewal fee of three hundred dollars, any assessment as determined by the superintendent pursuant to division (B) of this section, and any additional fee required by the NMLSR. A licensee shall not be required to pay any other fee or assessment by the state or any political subdivision of the state. (B) If the amount of renewal fees collected by th...

...n exists that, if it had existed at the time of the original application for a license, the fact or condition would have warranted the division to deny the application under section 1321.64 of the Revised Code. (B) A licensee shall give the superintendent of financial institutions sixty days prior written notice before there is a change of fifty per cent or more in the ownership of the licensee.

...nal licenses to the same licensee upon compliance with sections 1321.62 to 1321.702 of the Revised Code. (2) Each licensed place of business shall be located in a state. (B)(1) When a licensee wishes to change its place of business, it shall give at least fifteen days prior written notice of the change to the division of financial institutions. The division shall provide a license for the new address without cost...

...No person engaged in the business of selling tangible goods or services related to tangible goods may receive or retain a license under sections 1321.62 to 1321.702 of the Revised Code for such place of business.