reglab/statecodes huggingface dataset:
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.44 | Violations of Short-Term Loan Law Are Unfair or Deceptive Acts; Criminal Proceedings.

Effective:
September 1, 2008
Latest Legislation:
House Bill 545 - 127th General Assembly
(A) A violation of section 1321.41 of the Revised Code is deemed an unfair or deceptive act or practice in violation of section 1345.02 of the Revised Code. A borrower injured by a violation of section 1321.41 of the Revised Code shall have a cause of action and be entitled to the same relief available to a consumer under section 1345.09 of the Revised Code, and all powers and remedies available to the attorney general to enforce sections 1345.01 to 1345.13 of the Revised Code are available to the attorney general to enforce section 1321.41 of the Revised Code.
(B) The superintendent of financial institutions or a borrower may bring directly an action to enjoin a violation of sections 1321.35 to 1321.48 of the Revised Code. The prosecuting attorney of the county in which the action may be brought may bring an action to enjoin a violation of sections 1321.35 to 1321.48 of the Revised Code only if the prosecuting attorney first presents any evidence of the violation to the attorney general and, within a reasonable period of time, the attorney general has not agreed to bring the action.
(C) The superintendent may initiate criminal proceedings under sections 1321.35 to 1321.48 of the Revised Code by presenting any evidence of criminal violation to the prosecuting attorney of the county in which the offense may be prosecuted. If the prosecuting attorney does not prosecute the violations, or at the request of the prosecuting attorney, the superintendent shall present any evidence of criminal violations to the attorney general, who may proceed in the prosecution with all the rights, privileges, and powers conferred by law on prosecuting attorneys, including the power to appear before grand juries and to interrogate witnesses before such grand juries. These powers of the attorney general are in addition to any other applicable powers of the attorney general.
(D) The prosecuting attorney of the county in which an alleged offense may be prosecuted may initiate criminal proceedings under sections 1321.35 to 1321.48 of the Revised Code.
(E) In order to initiate criminal proceedings under sections 1321.35 to 1321.48 of the Revised Code, the attorney general first shall present any evidence of criminal violations to the prosecuting attorney of the county in which the alleged offense may be prosecuted. If, within a reasonable period of time, the prosecuting attorney has not agreed to prosecute the violations, the attorney general may proceed in the prosecution with all the rights, privileges, and powers described in division (B) of this section.
(F) When a judgment under this section becomes final, the clerk of court shall mail a copy of the judgment, including supporting opinions, to the superintendent.
Last updated November 4, 2021 at 4:39 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.46 | Verification of Borrower's Income Before Making Short-Term Loan.

Effective:
October 29, 2018
Latest Legislation:
House Bill 123 - 132nd General Assembly
(A) Before initiating a short-term loan transaction with a borrower, a licensee shall make a reasonable attempt to verify the borrower's income for purposes of division (B)(2) of section 1321.39 and section 1321.391 of the Revised Code. At a minimum, the licensee shall obtain from the borrower one or more recent pay stubs or other written evidence of recurring income, such as a bank statement. The written evidence shall include at least one document that, when presented to the licensee, is dated not earlier than forty-five days prior to the borrower's initiation of the short-term loan transaction. If the borrower intends to provide a bank statement, the licensee shall permit the borrower to delete from the statement the information regarding to whom the debits listed on the statement are payable.
(B) The superintendent of financial institutions may adopt rules under section 1321.43 of the Revised Code that set forth any other procedures the superintendent considers necessary to ensure accurate verification of borrower income.
Last updated November 4, 2021 at 4:44 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.47 | Duties of Short-Term Loan Licensees; Civil Action by Borrower.

Effective:
September 1, 2008
Latest Legislation:
House Bill 545 - 127th General Assembly
(A) A person licensed, and any person required to be licensed under sections 1321.35 to 1321.48 of the Revised Code, in addition to duties imposed by other statutes or common law, shall do all of the following:
(1) Follow reasonable and lawful instructions from the borrower;
(2) Act with reasonable skill, care, and diligence;
(3) Act in good faith and fair dealing in any transaction or practice or course of business in connection with a short-term loan.
(B) The duties and standards of care created in this section may not be waived or modified.
(C) A borrower injured by a violation of this section may bring an action for recovery of damages. Damages awarded shall not be less than all compensation paid directly or indirectly to a licensee from any source, plus reasonable attorney's fees and court costs. The borrower may be awarded punitive damages.
Last updated November 4, 2021 at 4:44 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.48 | Reports by Superintendent; Confidentiality of Information.

Effective:
September 1, 2008
Latest Legislation:
House Bill 545 - 127th General Assembly
(A) The superintendent of financial institutions shall report semiannually to the governor and the general assembly on the operations of the division of financial institutions with respect to the following:
(1) Enforcement actions instituted by the superintendent 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, pursuant to division (C) of this section, is confidential.
(C) The following information is confidential:
(1) Examination information, and any information leading to or arising from an examination;
(2) Investigation information, and any information arising from or leading to an investigation.
(D) The information described in division (A)(1) of this section shall remain confidential for all purposes except when it is necessary for the superintendent to take official action regarding the affairs of a licensee, or in connection with criminal or civil proceedings to be initiated by a prosecuting attorney or the attorney general. This information also may be introduced into evidence or disclosed when, and in the manner, authorized by section 1181.25 of the Revised Code.
(E) All application information, except social security numbers, employer identification numbers, financial account numbers, the identity of the institution where financial accounts are maintained, personal financial information, fingerprint cards and the information contained on such cards, and criminal background information, is a public record as defined in section 149.43 of the Revised Code.
(F) This section does not prevent the division from releasing information relating to licensees to the attorney general for purposes of that office's administration of Chapter 1345. of the Revised Code. Information the division releases to the attorney general pursuant to this section remains privileged and confidential, and the attorney general may not disclose the information except by introduction into evidence in connection with the attorney general's administration of Chapter 1345. of the Revised Code or as authorized by the superintendent.
Last updated November 4, 2021 at 4:45 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.52 | Registrants May Make General Loans; Choice of Law; Security; Superintendent Authority.

Effective:
September 1, 2021
Latest Legislation:
House Bill 133 - 134th General Assembly
(A)(1) A registrant may make loans, other than a residential mortgage loan as defined in section 1322.01 of the Revised Code, on terms and conditions provided by sections 1321.51 to 1321.60 of the Revised Code.
(2) Each person issued a certificate of registration is subject to all the rules prescribed under sections 1321.51 to 1321.60 of the Revised Code.
(B)(1) All loans made to persons who at the time are residents of this state are considered as made within this state and subject to the laws of this state, regardless of any statement in the contract or note to the contrary, except if the loan is for the purpose of purchasing goods acquired by the borrower when the borrower is outside of this state, the loan may be governed by the laws of the other state.
(2) Nothing in division (B)(1) of this section prevents a choice of law or requires registration of persons outside of this state in a transaction involving the solicitation of residents of this state to obtain non-real estate secured loans that require the borrowers to physically visit a lender's out-of-state office to apply for and obtain the disbursement of loan funds.
(C) A registrant may make unsecured loans and loans secured by other than residential real estate or a dwelling as those terms are defined in section 1322.01 of the Revised Code.
(D) For the purpose of registering 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 the superintendent may require;
(b) Pay all applicable charges to utilize the national multistate licensing system.
(2) Establish requirements as necessary for the use of the national multistate licensing system to meet the purposes of these sections, including:
(a) Background checks for:
(i) Criminal history through fingerprint or other databases;
(ii) Civil or administrative records;
(iii) Credit history;
(iv) Any other information considered necessary by the national multistate licensing system or the superintendent.
(b) The payment of fees to apply for or renew licenses through the multistate licensing system;
(c) The setting or resetting of renewal or reporting dates;
(d) Requirements for amending or surrendering a license or any other such activities as the superintendent considers necessary for participation in the national multistate licensing system.
Last updated November 5, 2021 at 3:01 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.541 | Actions by Attorney General, County Prosecutor to Enforce General Loan Law.

Effective:
January 1, 2007
Latest Legislation:
Senate Bill 185 - 126th General Assembly
(A) The attorney general may directly bring an action to enjoin a violation of sections 1321.51 to 1321.60 of the Revised Code with the same rights, privileges, and powers as those described in section 1345.06 of the Revised Code. The prosecuting attorney of the county in which the action may be brought may bring an action to enjoin a violation of sections 1321.51 to 1321.60 of the Revised Code only if the prosecuting attorney first presents any evidence of the violation to the attorney general 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 present any evidence of criminal violations to the prosecuting attorney of the county in which the alleged offense may be prosecuted. If, within a reasonable period of time, the prosecuting attorney has not agreed to prosecute the violations, the attorney general may proceed in the prosecution with all the rights, privileges, and powers conferred by law on prosecuting attorneys, including the power to appear before grand juries and to interrogate witnesses before such grand juries.
(C) These powers of the attorney general shall be in addition to any other applicable powers of the attorney general.
Last updated November 5, 2021 at 3:16 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.551 | Evading General Loan Law Requirements.

Effective:
March 23, 2018
Latest Legislation:
House Bill 199 - 132nd General Assembly
No registrant shall conduct the business of making loans under sections 1321.51 to 1321.60 of the Revised Code in any office, room, or place of business in which 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 under those sections, and orders the registrant in writing to desist from the conduct.
Last updated November 5, 2021 at 3:43 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.56 | Forfeiting General Loan Interest for Interest Rate Violation.

Effective:
June 13, 1996
Latest Legislation:
Senate Bill 189 - 121st General Assembly
Any person who willfully violates section 1321.57 of the Revised Code shall forfeit to the borrower the amount of interest paid by the borrower. The maximum rate of interest applicable to any loan transaction that does not comply with section 1321.57 of the Revised Code shall be the rate that would be applicable in the absence of sections 1321.51 to 1321.60 of the Revised Code.
Last updated November 5, 2021 at 3:46 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.571 | General Loan Alternative Interest Rate.

Effective:
February 11, 1982
Latest Legislation:
House Bill 526 - 114th General Assembly
As an alternative to the interest permitted in division (A) of section 1321.57 and in division (B) of section 1321.58 of the Revised Code, a registrant 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 5, 2021 at 3:47 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.59 | General Loan Law Registrant - Prohibited Acts.

Effective:
March 23, 2018
Latest Legislation:
House Bill 199 - 132nd General Assembly
(A) No registrant under sections 1321.51 to 1321.60 of the Revised Code shall permit any borrower to be indebted for a loan made under sections 1321.51 to 1321.60 of the Revised Code at any time while the borrower is also indebted to an affiliate or agent of the registrant for a loan made under sections 1321.01 to 1321.19 of the Revised Code for the purpose or with the result of obtaining greater charges than otherwise would be permitted by sections 1321.51 to 1321.60 of the Revised Code.
(B) No registrant 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 regarding the amount required to pay in full a loan under sections 1321.51 to 1321.60 of the Revised Code when requested by the borrower or by another person designated in writing by the borrower.
Last updated November 5, 2021 at 3:49 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.591 | Compliance With Fair Debt Collection Practices Act.

Effective:
October 16, 2009
Latest Legislation:
House Bill 1 - 128th General Assembly
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.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.592 | Prohibited General Loans by Registrants.

Effective:
October 29, 2018
Latest Legislation:
House Bill 123 - 132nd General Assembly
( 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.
Last updated November 5, 2021 at 3:53 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.60 | Advertising for General Loans.

Effective:
March 23, 2018
Latest Legislation:
House Bill 199 - 132nd General Assembly
(A) Advertising for loans subject to sections 1321.51 to 1321.60 of the Revised Code shall not be false, misleading, or deceptive.
(B) In making any advertisement, a registrant shall comply with 12 C.F.R. 1026.16, as applicable.
Last updated November 5, 2021 at 3:54 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.63 | Activities for Which Consumer Installment Loan License Is Required.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
(A)(1) No person shall do either of the following without 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 and charges that the lender would be permitted to charge for a loan of money if the lender were not a licensee.
(2) Division (A)(1) of this section applies to any person, who by any device, subterfuge, or pretense, charges, contracts for, or receives greater interest, consideration, or charges than that authorized by this section for any such loan, or who for a fee or any manner of compensation arranges or offers to find or arrange for another person to make any such loan.
(B) This section does not preclude the acquiring, directly or indirectly, by purchase or discount, of a bona fide obligation for goods or services when such obligation is payable directly to the person who provided the goods or services.
(C) Any contract of a loan in the making or collection of which an act is done by the lender that violates this section is void and the lender has no right to collect, receive, or retain any principal, interest, or charges.
Last updated November 5, 2021 at 4:01 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.632 | Consumer Installment Loan Licensee Authority; Prohibited Activities.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
A licensee may engage in the business of making loans provided the licensee does not do any of the following:
(A) Assess an origination fee pursuant to section 1321.68 of the Revised Code more than three times in any twelve-month period;
(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 the loan during the first one hundred twenty days of the loan term;
(F) Except for the deferment charge permitted by section 1321.68 of the Revised Code, charge or collect any fee, charge, or remuneration of any sort for renewing, amending, or extending a loan beyond its original term.
Last updated November 5, 2021 at 4:07 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.641 | Renewal of Consumer Installment Loan License.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
(A) A license issued under section 1321.64 of the Revised Code may be renewed annually on or before the thirty-first day of December by submitting a renewal application in the form prescribed by the superintendent of financial institutions. 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 the division of financial institutions is less than the estimated expenditures of the consumer finance section of the division, as determined by the superintendent, for the following fiscal year, the superintendent may assess each licensee at a rate sufficient to equal in the aggregate the difference between the renewal fees collected and the estimated expenditures. Each licensee shall pay the assessed amount to the superintendent prior to the last day of June. In no event shall the assessment exceed ten cents per each one hundred dollars of interest (excluding charge-off recoveries), loan origination charges, and credit line charges collected by that licensee during the previous calendar year. If such an assessment is imposed, it shall not be less than two hundred fifty dollars per licensee and shall not exceed thirty thousand dollars less the total renewal fees paid pursuant to division (A) of this section by each licensee.
(C) If a renewal application does not contain all of the information required, and if that information is not submitted to the division or to the NMLSR within ninety days after the superintendent or the NMLSR requests the information in writing, including by electronic transmission or facsimile, the superintendent may consider the renewal application withdrawn.
(D) An applicant's license shall not be renewed if it is subject to an order of suspension or an unpaid and past due fine imposed by the superintendent.
Last updated November 5, 2021 at 4:13 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.642 | Effect of Change in Ownership of a Consumer Installment Loan Licensee; Notice.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
(A) If there is a change of five per cent or more in the ownership of a licensee, the division of financial institutions may make any investigation necessary to determine whether any fact or condition 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.
Last updated November 5, 2021 at 4:13 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.643 | Place of Business; Additional Consumer Installment Loan Licenses; Change of Place of Business or Name.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
(A)(1) Not more than one place of business shall be maintained under the same license, but the superintendent of financial institutions may issue additional 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.
(2) If a licensee changes its name, it shall give written notice of the change to the division prior to making loans under the new name. The division shall provide a license in the new name without cost.
(C) Each current license shall be kept conspicuously posted in each place of business of the licensee and is not transferable or assignable.
Last updated November 5, 2021 at 4:14 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.644 | Persons Selling Tangible Goods or Services.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
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.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.65 | Asset Requirements of Consumer Installment Loan Licensee.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
Each licensee that conducts business under sections 1321.62 to 1321.702 of the Revised Code shall maintain both of the following:
(A) A net worth of at least fifty thousand dollars;
(B) For each license, assets of at least fifty thousand dollars either in use or readily available for use in the conduct of the business.
Last updated November 5, 2021 at 4:15 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.661 | Consumer Installment Loan Licensee Call Reports.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
(A) Each licensee shall submit to the NMLSR call reports or other reports of condition, which reports shall be in such form and shall contain such information as the NMLSR may require.
(B)(1) As required by the superintendent of financial institutions, each licensee shall file with the division of financial institutions an annual report under oath or affirmation, on forms supplied by the division, concerning the business and operation of the licensee for the preceding calendar year.
(2) The superintendent shall annually publish an analysis of the information required under division (B)(1) of this section, but the individual reports shall not be public records and shall not be open to public inspection.
Last updated November 5, 2021 at 4:20 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.663 | Consumer Installment Loan Act Investigations - Prohibited Acts.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
No person, in connection with any examination or investigation conducted by the superintendent of financial institutions under sections 1321.62 to 1321.702 of the Revised Code shall knowingly do any of the following:
(A) Circumvent, interfere with, obstruct, or fail to cooperate with the superintendent, including making a false or misleading statement, failing to produce records, or intimidating or suborning any witness;
(B) Withhold, abstract, remove, mutilate, destroy, or secrete any books, records, computer records, or other information;
(C) Tamper with, alter, or manufacture any evidence.
Last updated November 5, 2021 at 4:23 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.664 | Compliance With Federal Laws and Regulations.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
In order to reduce the risk of consumer fraud and related harms, including identity theft, licensees shall comply with the provisions of the "Fair and Accurate Credit Transactions Act of 2003," 117 Stat. 1952 (amended 2010), 15 U.S.C. 1681w, as in effect on November 30, 2016, the "Gramm Leach Bliley Act," 113 Stat. 1138 (1999) (amended 2010), 15 U.S.C. 6801, as in effect on November 30, 2016, including those federal acts as amended from time to time and the rules promulgated pursuant to those federal acts, including 16 C.F.R. 682, as in effect November 30, 2016, pertaining to the maintenance, security, and disposal of consumer information and records.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.665 | Preservation of Consumer Installment Loan Books and Records Before Ceasing Business.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
Before ceasing to conduct or discontinuing business as a licensee, the licensee shall arrange for and be responsible for the preservation of the books and records required to be maintained and preserved under sections 1321.62 to 1321.702 of the Revised Code and shall notify the division of financial institutions in writing of the exact address where the books and records will be maintained during the required period.
Last updated November 5, 2021 at 4:24 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.666 | Authority of Superintendent to Enforce Consumer Installment Loan Act.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
The superintendent of financial institutions may suspend, revoke, or refuse to renew any license issued by the superintendent under sections 1321.62 to 1321.702 of the Revised Code, or bring any other authorized administrative enforcement action in accordance with section 1321.70 of the Revised Code, against any person for failure to maintain records in accordance with section 1321.66 of the Revised Code.
Last updated November 5, 2021 at 4:25 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.671 | Repayment of Consumer Installment Loan.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
(A) Upon repayment of the loan in full, the original note signed by any obligor or copy, photograph, or stored representation of the original note as retained in accordance with section 1321.66 of the Revised Code shall be plainly marked "paid" or "canceled" and the note or the reproduction of the note shall be returned to the obligor or, if there are two or more obligors, to one of them.
(B) If requested, the licensee shall give to the borrower a receipt for each payment made on account of any interest- bearing or precomputed loan.
Last updated November 5, 2021 at 5:38 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.672 | Insurance Obtained on Behalf of Consumer Installment Loan Borrower.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
(A) When, in connection with a loan, a licensee furnishes or places insurance written on behalf of the borrower at the borrower's expense, a policy or certificate of insurance properly executed shall be furnished to the borrower within fifteen days of the closing date of the loan. The policy or certificate shall state the name of the insurance company, the nature of the insurance, the extent of the coverage, the amount of the premium, and the effective and expiration dates of the policy.
(B) If a licensee furnishes or places credit life insurance, credit accident and health insurance, or unemployment insurance on behalf of the borrower at the borrower's expense, the licensee shall give written notice to the borrower at the time the loan is made. The notice shall disclose the borrower's right to cancel the insurance within twenty-five days after the purchase of the insurance with a full refund of the premium or identifiable charge for the insurance. The notice shall further disclose that the cancellation may be effected upon the written request of the borrower together with the return of the policy or certificate of insurance to the licensee.
(C) All insurance sold or obtained in connection with the making of a loan shall be governed by Title XXXIX of the Revised Code.
(D) In any transaction in which the licensee furnishes or places insurance on behalf of the borrower at the borrower's expense, the licensee shall, prior to furnishing or placing the insurance, provide written disclosure to the borrower of the business relationship, beneficial ownership or affiliation, whether direct or indirect, between the licensee and the insurer.
Last updated November 5, 2021 at 4:37 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.673 | Evading Consumer Installment Loan Requirements.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
No licensee shall conduct the business of making loans under sections 1321.62 to 1321.702 of the Revised Code in any office, room, or place of business in which 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 1321.62 to 1321.702 of the Revised Code, and orders the licensee in writing to desist from the conduct.
Last updated November 5, 2021 at 4:39 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.674 | Forfeiting Consumer Installment Loan Interest for Interest Rate Violation.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
(A) Any person that willfully violates section 1321.68 of the Revised Code shall forfeit to the borrower the amount of interest paid by the borrower. The maximum rate of interest applicable to any loan transaction that does not comply with section 1321.68 of the Revised Code shall be the rate that would be applicable in the absence of sections 1321.62 to 1321.702 of the Revised Code.
( B) Any extension of credit under sections 1321.62 to 1321.702 of the Revised Code shall include a notice in at least ten point type at the bottom of the first page of any loan agreement to read: "This loan is governed by, and made pursuant to, the provisions of the Ohio Consumer Installment Loan Act under R.C. 1321.62 - 1321.702."
Last updated November 5, 2021 at 4:40 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.691 | Employee Remote Work.

Effective:
September 13, 2022
Latest Legislation:
Senate Bill 264 - 134th General Assembly
(A) As used in this section, "remote location" means the home of an employee or other location selected by the employee that is not a licensed place of business.
(B) Notwithstanding any provision of the Revised Code to the contrary, nothing in sections 1321.62 to 1321.702 of the Revised Code shall be construed to interfere with the ability of a licensee's employee to work from a remote location, provided the licensee does all of the following:
(1) Ensures that in-person customer interactions are conducted only at a licensed place of business;
(2) Maintains appropriate safeguards for licensee and consumer data, information, and records, including the use of secure virtual private networks where appropriate;
(3) Employs appropriate risk-based monitoring and oversight processes of work performed from a remote location and maintains records of such work;
(4) Ensures consumer information and records are not maintained at a remote location;
(5) Ensures consumer and licensee information and records remain accessible and available for regulatory oversight and exams;
(6) Provides appropriate employee training to keep all conversations about, and with, consumers conducted from a remote location confidential, as if conducted from a commercial location, and to ensure remote employees work in an environment conducive and appropriate to that confidentiality;
(7) Keeps a record of all remote locations that are being used, in the form of city, state, and type of location, and makes a list of those locations available to the superintendent upon request.
Last updated June 30, 2022 at 5:03 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.701 | Action by Attorney General, County Prosecutor to Enforce the Consumer Installment Loan Act.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
(A) The attorney general may directly bring an action to enjoin a violation of sections 1321.62 to 1321.702 of the Revised Code with the same rights, privileges, and powers as those described in section 1345.06 of the Revised Code. The prosecuting attorney of the county in which the action may be brought may bring an action to enjoin a violation of sections 1321.62 to 1321.702 of the Revised Code only if the prosecuting attorney first presents any evidence of the violation to the attorney general and, within a reasonable period of time, the attorney general has not agreed to bring the action.
(B) These powers of the attorney general shall be in addition to any other applicable powers of the attorney general.
Last updated November 5, 2021 at 4:51 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.702 | Rules Relating to the Consumer Installment Loan Act.

Effective:
September 12, 2017
Latest Legislation:
Senate Bill 24 - 132nd General Assembly
The superintendent of financial institutions may adopt, in accordance with Chapter 119. of the Revised Code, rules that are necessary for the enforcement of sections 1321.62 to 1321.702 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 superintendent 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 4:52 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1321 | Various Loans › Section 1321.71 | Insurance Premium Finance Company Law Definitions.

Effective:
September 26, 1996
Latest Legislation:
Senate Bill 293 - 121st General Assembly
As used in sections 1321.71 to 1321.83 of the Revised Code:
(A) "Annual percentage rate" means the ratio of the finance charges, as authorized by sections 1321.79 and 1321.791 of the Revised Code, on a loan to the unpaid principal balance on the loan for any period of time, expressed on an annual basis.
(B) "Insurance premium finance company" or "premium finance company" means a person engaged in the business of entering into or otherwise acquiring premium finance agreements.
(C) "Person" means any individual, partnership, association, trust, corporation, or other legal entity.
(D) "Premium finance agreement" means an agreement by which an insured or prospective insured promises to pay a premium finance company the amount advanced or to be advanced under the agreement to an insurer or to an insurance agent or broker in payment of premiums on an insurance contract together with a finance charge as authorized and limited by sections 1321.71 to 1321.83 of the Revised Code.
(E) "License" means a license issued by the division of financial institutions under sections 1321.71 to 1321.83 of the Revised Code.
(F) "Licensee" means a premium finance company holding a license.
(G) "Superintendent of financial institutions" includes the deputy superintendent for consumer finance as provided in section 1181.21 of the Revised Code.
Last updated November 5, 2021 at 4:53 PM
2023 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
2023 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
2023 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
2023 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