Section 1321.131 | Small loan alternative interest rate.
February 11, 1982
House Bill 526 - 114th General Assembly
As an alternative to the interest permitted in division (A) of section 1321.13 and in division (B) of section 1321.16 of the Revised Code, a licensee may contract for and receive interest 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.
Last updated November 3, 2021 at 5:41 PM
Available Versions of this Section
- February 11, 1982 – House Bill 526 - 114th General Assembly [ View February 11, 1982 Version ]