reglab/housing_qa huggingface dataset:
Ohio Rev Code § 1321.72 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1321 | Various Loans|Section 1321.72 | Application of Insurance Premium Finance Company Law.

Effective: March 23, 2018|Latest Legislation:  House Bill 199 - 132nd General Assembly|Except as provided in division (D) of section 1321.78, sections 1321.71 to 1321.83 of the Revised Code do not apply with respect to any of the following:(A) Life, property, or casualty insurance companies authorized to do business in this state as to policies issued by those companies;(B) The inclusion of a charge for insurance in connection with any installment transaction pursuant to Chapter 1317. of the Revised Code;(C) The financing of insurance premiums at a rate of interest not exceeding the maximum rate permitted by section 1343.01 of the Revised Code;(D) Persons lawfully doing business under the authority of any law of this state, another state, or the United States relating to banks, savings banks, trust companies, savings and loan associations, lenders authorized to make loans pursuant to sections 1321.01 to 1321.19 of the Revised Code, lenders authorized to make loans pursuant to sections 1321.51 to 1321.60 of the Revised Code, mortgage lenders authorized to make loans under Chapter 1322. of the Revised Code, or any credit union;(E) Any person who purchases or otherwise acquires a premium finance agreement from a licensee if the licensee remains responsible for collecting payments due under the agreement, and for otherwise servicing the agreement, in compliance with sections 1321.71 to 1321.83 of the Revised Code. Last updated November 5, 2021 at 4:55 PM
Ohio Rev Code § 1321.73 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1321 | Various Loans|Section 1321.73 | Insurance Premium Finance Company License Requirement; Annual Fee; Assets.

Effective: October 17, 2019|Latest Legislation:  House Bill 166 - 133rd General Assembly|(A) No person shall engage in the business of entering into or otherwise acquiring premium finance agreements in the state without first having obtained a license as a premium finance company from the division of financial institutions. (B) The annual license fee shall be determined by the superintendent of financial institutions pursuant to section 1321.20 of the Revised Code. Licenses may be renewed from year to year as of the first day of July of each year, or annually on a different date established by the superintendent pursuant to section 1181.23 of the Revised Code, upon payment of the fee. (C) The person to whom the license or the renewal thereof is issued shall file sworn answers, subject to the penalties of perjury, to such interrogatories as the division requires. The division may, at any time, require the applicant to fully disclose the identity of all stockholders, partners, officers, and employees, and it may, at its discretion, refuse to issue or renew a license in the name of any firm, partnership, or corporation if it is not satisfied that any officer, employee, stockholder, or partner thereof, who may materially influence the applicant's conduct, meets the standards provided by sections 1321.71 to 1321.83 of the Revised Code. (D) Each applicant shall execute and file with the division proof that the applicant has a net worth of at least fifty thousand dollars, as determined in accordance with generally accepted accounting principles. The proof is subject to the approval of the division. Last updated November 5, 2021 at 4:57 PM
Ohio Rev Code § 1321.77 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1321 | Various Loans|Section 1321.77 | Insurance Premium Finance Company Rules.

Effective: September 26, 1996|Latest Legislation:  Senate Bill 293 - 121st General Assembly|The division of financial institutions may adopt, in accordance with Chapter 119. of the Revised Code, rules that are necessary for the enforcement of sections 1321.71 to 1321.83 of the Revised Code and that are consistent with those sections. Each rule shall contain a reference to the section, division, or paragraph of the Revised Code to which it applies. The division shall send by regular mail to each licensee a copy of each rule that is adopted pursuant to this section. Last updated November 5, 2021 at 5:05 PM
Ohio Rev Code § 1321.78 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1321 | Various Loans|Section 1321.78 | Premium Finance Agreement; Notice to Insurer.

Effective: September 11, 2008|Latest Legislation:  House Bill 404 - 127th General Assembly|(A) A premium finance agreement shall: (1) Be dated, signed by the insured, and the printed portion thereof shall be in at least eight-point type;(2) Contain the name and place of business of the insurance agent or broker negotiating the related insurance contract, the name and residence or the place of business of the insured as specified by him, the name and address of the premium finance company, and a description of the insurance contracts involved and the amount of the premium therefor;(3) Set forth any charges the premium finance company elects to charge under sections 1321.79, 1321.791, and 1321.80 of the Revised Code.(B) The premium finance company, agent, or agency shall deliver to the insured or send by regular mail to the insured at the address provided in the agreement, a complete copy of the premium finance agreement.(C) A premium finance company shall give notice of its financing to the insurer not later than the thirtieth day after the date on which the premium financing agreement is accepted by the premium finance company. A notice given under this section shall be effective whether or not the insurer's policy number is set forth in the notice.(D) Notwithstanding divisions (C) and (D) of section 1321.72 of the Revised Code, in the case of a life insurance policy, any premium finance company shall give notice of its financing to the insurer either prior to the issuance of the life insurance policy if the financing agreement is accepted prior to the issuance of the policy or prior to the completion of the premium financing transaction if the financing agreement is accepted after the issuance of the policy.(E) If premium financing is used in connection with a life insurance policy, and the premium finance company fails to provide notice of its financing to the insurer pursuant to division (D) of this section, the premium financing agreement is unenforceable as a matter of public policy. Last updated November 5, 2021 at 5:09 PM
Ohio Rev Code § 1321.79 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1321 | Various Loans|Section 1321.79 | Insurance Premium Finance Company Finance Charge Limits.

Effective: September 29, 1994|Latest Legislation:  Senate Bill 259 - 120th General Assembly|(A) A premium finance company shall not charge, contract for, receive, or collect a finance charge other than as permitted by sections 1321.71 to 1321.83 of the Revised Code.(B) The finance charge shall be computed on the balance of the premium due, after subtracting the down payment made by the insured in accordance with the premium finance agreement, from the effective date of the insurance coverage, for which the premium is being advanced, to and including the date when the final installment of the premium finance agreement is payable, without regard to any requirement for installment payments.(C) The finance charge shall be computed at a maximum rate of twelve dollars per one hundred dollars per year, plus an acquisition charge of twenty dollars per premium finance agreement which need not be refunded upon cancellation or prepayment. However, if the insurance policies described in the premium finance agreement are primarily for other than personal, family, or household purposes, the licensee may contract for and receive any finance charge agreed to in writing by the licensee and the insured.(D)(1) Notwithstanding any provision in a premium finance agreement to the contrary, any insured may prepay his obligation under a premium finance agreement in full at any time before the final payment is due. In such event any unearned finance charge shall be refunded by the insurance premium finance company. The amount of any refund shall be calculated in accordance with the rule commonly known as the "rule of 78" or any other method more beneficial to the insured. A refund calculated in accordance with the "rule of 78" shall represent at least as great a proportion of the finance charge, if any, as the sum of the periodic balances at the nearest installment due date to the date on which prepayment is made bears to the sum of all periodic balances under the original schedule of payments in the agreement. If the amount of any refund computed under division (D)(1) of this section is less than three dollars, no refund need be made.(2) With respect to any premium finance agreement that is cancelled, the unearned finance charge shall be refunded in the same manner as set forth in division (D)(1) of this section. If the balance due on such an agreement is not paid in full, the licensee may earn interest at the rate stated in the agreement until paid in full. Last updated November 5, 2021 at 5:11 PM
Ohio Rev Code § 1321.791 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1321 | Various Loans|Section 1321.791 | Insurance Premium Finance Company Alternative Finance Charges.

Effective: February 11, 1982|Latest Legislation:  House Bill 526 - 114th General Assembly|As an alternative to the finance charges permitted by division (C) of section 1321.79 of the Revised Code, a premium finance company may contract for and receive finance charges at any rate or rates agreed upon or consented to by the parties to the premium finance agreement or revolving credit premium finance agreement, but not exceeding an annual percentage rate of twenty-five per cent. Last updated November 5, 2021 at 5:13 PM
Ohio Rev Code § 1321.80 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1321 | Various Loans|Section 1321.80 | Delinquency, Cancellation, and Check Collection Charges.

Effective: September 29, 1994|Latest Legislation:  Senate Bill 259 - 120th General Assembly|A premium finance agreement may provide for the payment by the insured of any of the following:(A) A delinquency charge of not more than five per cent of any installment that is in default for a period of more than five days. If the insurance policies described in the premium finance agreement are primarily for personal, family, or household purposes, the maximum delinquency charge shall be ten dollars.(B) A cancellation charge of ten dollars when the default results in the cancellation of any insurance contract described in the agreement.(C) A check collection charge of not more than ten 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. Last updated November 5, 2021 at 5:16 PM
Ohio Rev Code § 1321.81 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1321 | Various Loans|Section 1321.81 | Cancellation of Insurance Contract Listed in Premium Finance Agreement.

Effective: September 29, 1994|Latest Legislation:  Senate Bill 259 - 120th General Assembly|(A) When a premium finance agreement contains a power of attorney authorizing the premium finance company to cancel any insurance contract or contracts listed in the agreement, the insurance contract or contracts shall not be cancelled by the premium finance company unless the cancellation is effectuated in accordance with this section.(B) Not less than ten days' written notice shall be mailed to the insured at his last known mailing address, as shown on the records of the premium finance company, of the intent of the premium finance company to cancel the insurance contract unless the default is cured within such ten-day period.(C) After expiration of such ten-day period, the premium finance company may cancel, in the name of the insured, such insurance contract or contracts by mailing to the insurer a notice of cancellation, and the insurance contract shall be cancelled as if such notice of cancellation had been submitted by the insured himself, but without requiring the return of the insurance contract or contracts. The premium finance company also shall mail a notice of cancellation to the insured at his last known mailing address, as shown on the records of the premium finance company.(D) All statutory, regulatory, and contractual restrictions providing that the insurance contract may not be cancelled unless notice is given to a governmental agency, mortgagee, or other third party shall apply where cancellation is effected under this section. The insurer shall give the prescribed notice in behalf of itself or the insured to any governmental agency, mortgagee, or third party on or before the second business day after the day it receives the notice of cancellation from the premium finance company and shall determine the effective date of cancellation taking into consideration the number of days' notice required to complete the cancellation.(E) The premium finance company shall retain copies of the notices required under divisions (B) and (C) of this section by placing them in the insured's file or by preserving them in a retrieval system maintained in whole or in part by mechanical or electronic data processing methods. Last updated November 5, 2021 at 5:17 PM
Ohio Rev Code § 1321.82 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1321 | Various Loans|Section 1321.82 | Return to Insurance Premium Finance Company of Gross Unearned Premium Upon Cancellation of Insurance Contract.

Effective: September 29, 1994|Latest Legislation:  Senate Bill 259 - 120th General Assembly|(A) Whenever a financed insurance policy is cancelled, the insurer that has been notified pursuant to division (C) of section 1321.78 of the Revised Code shall, not later than sixty days after the date of cancellation, return whatever gross unearned premium is due under the insurance policy to the insurance premium finance company for the account of the insured or insureds. If the insurer returns the unearned premium through the agent or agency writing the insurance, the agent or agency shall remit the premium to the insurance premium finance company within that sixty-day period. If the insurer receives written notice of the failure of the agent or agency to remit the unearned premium, the insurer shall, not later than sixty days after it receives the notice, pay the amount of that premium directly to the insurance premium finance company.(B) If the crediting of unearned premium to the account of the insured results in a surplus over any indebtedness owed by the insured to the premium finance company, the premium finance company shall refund such excess to the insured at his last known mailing address as shown on the records of the premium finance company, except that no such refund is required if it amounts to less than three dollars. Last updated November 5, 2021 at 5:18 PM
Ohio Rev Code § 1321.83 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1321 | Various Loans|Section 1321.83 | Secured Transactions Filing Provisions Not Applicable to Insurance Premium Finance Agreements.

Effective: July 1, 2001|Latest Legislation:  Senate Bill 74 - 124th General Assembly|No filing provisions of Chapter 1309. of the Revised Code apply to insurance premium finance agreements, and no filing of the premium finance agreement is necessary to perfect the validity of such agreements as a secured transaction as against creditors, subsequent purchasers, pledgees, encumbrancers, trustees in bankruptcy or any other insolvency proceeding under any law, or their successors or assigns. Last updated November 5, 2021 at 5:21 PM
Ohio Rev Code § 1321.84 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1321 | Various Loans|Section 1321.84 | Effect of Child Support Default on License, Certificate, or Permit.

Effective: March 22, 2001|Latest Legislation:  Senate Bill 180 - 123rd General Assembly|On receipt of a notice pursuant to section 3123.43 of the Revised Code, the division of consumer finance shall comply with sections 3123.41 to 3123.50 of the Revised Code and any applicable rules adopted under section 3123.63 of the Revised Code with respect to a license, certificate, or permit issued pursuant to this chapter. Last updated November 5, 2021 at 5:21 PM
Ohio Rev Code § 1321.99 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1321 | Various Loans|Section 1321.99 | Penalty.

Effective: October 29, 2018|Latest Legislation:  House Bill 123 - 132nd General Assembly|(A) Whoever violates section 1321.02 of the Revised Code is guilty of a felony of the fifth degree.(B) Whoever violates section 1321.13 of the Revised Code shall be fined not less than one hundred nor more than five hundred dollars or imprisoned not more than six months, or both.(C) Whoever violates section 1321.14 of the Revised Code shall be fined not less than fifty nor more than two hundred dollars for a first offense; for a second offense such person shall be fined not less than two hundred nor more than five hundred dollars and imprisoned for not more than six months.(D) Whoever willfully violates section 1321.57, 1321.58, division (A), (B), or (C) of section 1321.59, 1321.591, or 1321.60 of the Revised Code is guilty of a minor misdemeanor and shall be fined not less than one nor more than five hundred dollars.(E)(1) Whoever violates section 1321.63 or division (H), (I), or (K) of section 1321.69 of the Revised Code is guilty of a felony of the fifth degree.(2) A violation of section 1321.63 or division (K) of section 1321.69 of the Revised Code is a strict liability offense and section 2901.20 of the Revised Code does not apply.(F) Whoever violates division (A) of section 1321.73 of the Revised Code shall be fined not more than five hundred dollars or imprisoned not more than six months, or both.(G) Whoever violates section 1321.41 of the Revised Code is guilty of a misdemeanor of the first degree.(H) Whoever violates section 1321.141 or 1321.592 of the Revised Code is guilty of a minor misdemeanor and shall be fined not less than one hundred nor more than five hundred dollars.(I) The offenses established under sections 1321.141, 1321.41, and 1321.592 of the Revised Code are strict liability offenses and section 2901.20 of the Revised Code does not apply. The designation of these offenses as strict liability offenses shall not be construed to imply that any other offense for which there is no specified degree of culpability, whether in this section or another section of the Revised Code, is not a strict liability offense.(J) The imposition of fines pursuant to this section does not preclude the imposition of any administrative fines or civil penalties authorized under section 1321.54 or any other section of the Revised Code.
Ohio Rev Code § 1322.02 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1322 | Ohio Residential Mortgage Lending Act (Rmla)|Section 1322.02 | Rules Amending Definitions of Mortgage Broker, Lender, or Originator; Rules Amending Criteria for Letters of Exemption.

Effective: September 1, 2021|Latest Legislation:  House Bill 133 - 134th General Assembly|The superintendent of financial institutions may, by rule, amend the definition of mortgage loan originator, mortgage broker, mortgage lender, mortgage servicer, or any other definition in section 1322.01 of the Revised Code, or the criteria for an entity to obtain a letter of exemption, or a registration or license, under this chapter, if the superintendent finds that the change is necessary to remain consistent with the purposes intended by the policy and provisions of the "Secure and Fair Enforcement for Mortgage Licensing Act of 2008," 122 Stat. 2810, 12 U.S.C. 5101. Rules authorized by this section shall be adopted in accordance with Chapter 119. of the Revised Code. Last updated June 22, 2021 at 1:07 PM
Ohio Rev Code § 1322.04 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1322 | Ohio Residential Mortgage Lending Act (Rmla)|Section 1322.04 | Applicability of Rmla.

Effective: September 1, 2021|Latest Legislation:  House Bill 133 - 134th General Assembly|This chapter does not apply to any of the following: (A) Any entity chartered and lawfully doing business under the authority of any law of this state, another state, or the United States as a bank, savings bank, trust company, savings and loan association, or credit union, or a subsidiary of any such entity, which subsidiary is regulated by a federal banking agency and is owned and controlled by a depository institution; (B) A consumer reporting agency that is in substantial compliance with the "Fair Credit Reporting Act," 84 Stat. 1128, 15 U.S.C. 1681a, as amended; (C) Any political subdivision, or any governmental or other public entity, corporation, instrumentality, or agency, in or of the United States or any state; (D) A college or university, or controlled entity of a college or university, as those terms are defined in section 1713.05 of the Revised Code; (E) Any entity created solely for the purpose of securitizing loans secured by an interest in real estate, provided the entity does not service the loans. As used in this division, "securitizing" means the packaging and sale of mortgage loans as a unit for sale as investment securities, but only to the extent of those activities. (F) Any person engaged in the retail sale of manufactured homes, mobile homes, or industrialized units, including a manufactured home park operator, as defined in section 4781.01 of the Revised Code, if, in connection with obtaining financing by others for those retail sales, the person does not do any of the following: (1) Offer or negotiate the residential mortgage loan rates or terms; (2) Fail to give a borrower written disclosure of any corporate affiliation the person has with any lender, or fail to refer a borrower to at least one unaffiliated lender if the person recommends a lender with which the person has a corporate affiliation; (3) Receive any compensation or gain from any company or individual for assisting the borrower to obtain or apply for financing to purchase the manufactured home, mobile home, or industrialized unit. (G) A bona fide nonprofit organization; (H) A credit union service organization, provided that the organization utilizes services provided by registered mortgage loan originators or that it holds a valid letter of exemption issued by the superintendent of financial institutions under division (B)(1) of section 1322.05 of the Revised Code. (I) A depository institution not otherwise required to be licensed under this chapter that voluntarily makes a filing on the nationwide mortgage licensing system and registry as an exempt entity for the purpose of licensing loan originators exclusively associated with the institution and that holds a valid letter of exemption issued by the superintendent pursuant to division (B)(1) of section 1322.05 of the Revised Code. Last updated June 22, 2021 at 1:08 PM