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Section 1321.592 | Loans by registrants.

 

( A) A registrant shall not make a loan under sections 1321.51 to 1321.60 of the Revised Code that meets either of the following conditions:

(1) The amount of the loan is one thousand dollars or less.

(2) The loan has a duration of one year or less.

(B) A registrant shall not engage in any act or practice to evade the requirement of division (A) of this section, including by contracting with a borrower to make a loan on terms that would be prohibited by that division.

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

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