Section 1321.401 | Refinancing by licensee.
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.
Available Versions of this Section
- October 29, 2018 – Enacted by House Bill 123, 132nd General Assembly [ View October 29, 2018 Version ]