reglab/statecodes huggingface dataset:
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1315 | Transmitters of Money; Check-Cashing Businesses › Section 1315.18 | Termination of Business - Approval of Plan - Implementation.

Effective:
April 6, 2007
Latest Legislation:
House Bill 454 - 126th General Assembly
(A) A licensee that ceases to do business in this state shall do so in accordance with a plan approved by the superintendent of financial institutions or pursuant to directions issued by the superintendent in connection with the revocation or suspension of the licensee's license pursuant to section 1315.151 of the Revised Code.
(B) When a licensee ceases to do business in this state, if the superintendent considers it necessary to protect the interests of the licensee's customers, the superintendent may do either of the following:
(1) Take control of permissible investments or other assets owned by the licensee equal in value to the licensee's outstandings in this state;
(2) Require the sale of the licensee's contracts for continuing services or require the licensee's termination of those contracts with compensation to the customers for loss of the services.
(C) No licensee shall fail to comply with this section.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1315 | Transmitters of Money; Check-Cashing Businesses › Section 1315.21 | Check-Cashing Businesses Definitions.

Effective:
March 23, 2018
Latest Legislation:
House Bill 199 - 132nd General Assembly
As used in sections 1315.21 to 1315.30 of the Revised Code:
(A) "Check" means any check, draft, money order, or other instrument for the transmission or payment of money. "Check" does not include a travelers check.
(B) "Check-cashing business" means any person that engages in the business of cashing checks for a fee. "Check-cashing business" does not include any of the following:
(1) A licensee as defined in section 1321.01 of the Revised Code;
(2) A registrant as defined in section 1321.51 of the Revised Code;
(3) A financial institution;
(4) A person that is primarily engaged in the business of selling tangible personal property or services at retail and does not derive more than five per cent of the person's gross income from the cashing of checks;
(5) A person licensed under sections 1315.01 to 1315.18 of the Revised Code, or any agent of that person, to the extent that the person or the agent is engaged in cashing checks or travelers checks issued by the licensed person ;
(6) A person registered as a mortgage lender under Chapter 1322. of the Revised Code.
(C) "Financial institution" means any bank, trust company, savings bank, savings and loan association, or credit union, that is incorporated or organized under the laws of the United States or of any state thereof, or of Canada or any province thereof, and subject to regulation or supervision by such country, state, or province.
(D) "Superintendent of financial institutions" includes the deputy superintendent for consumer finance as provided in section 1181.21 of the Revised Code.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1315 | Transmitters of Money; Check-Cashing Businesses › Section 1315.22 | Application for License to Operate Check-Cashing Business.

Effective:
September 26, 1996
Latest Legislation:
Senate Bill 293 - 121st General Assembly
(A) No person, on and after January 1, 1993, shall operate a check-cashing business without first obtaining a license from the superintendent of financial institutions.
(B) Application for an original license required under this section or a renewal license required under section 1315.23 of the Revised Code shall be in writing, under oath, and in the form prescribed by the superintendent. The application shall contain the following information:
(1)(a) If the applicant is an individual, the individual's exact name and residence address;
(b) If the applicant is a partnership, the exact name and residence address of each member of the partnership;
(c) If the applicant is a corporation or association, the exact name and residence address of each director and principal officer of the corporation or association.
(2) The complete address of the principal office or offices from which the business is to be conducted, showing the street and number, if any, and the municipal corporation and county;
(3) Any other pertinent information that the superintendent requires.
(C) For purposes of division (B) of this section, an applicant shall not use a post-office box address as the only address for the applicant's residence or principal office or offices.
(D) Application for a license shall be accompanied by an initial, nonrefundable investigation fee not to exceed two hundred fifty dollars, except if the applicant's principal place of business is located outside this state, in which case the initial, nonrefundable investigation fee shall not exceed one thousand dollars. The applicant also shall pay an annual license fee for each business location not to exceed five hundred dollars, except that applications for original licenses issued on or after the first day of July for any year shall be accompanied by an annual fee not to exceed two hundred fifty dollars. All fees paid to the superintendent pursuant to this division shall be deposited by the superintendent into the state treasury to the credit of the consumer finance fund.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1315 | Transmitters of Money; Check-Cashing Businesses › Section 1315.24 | Investigation of Violations - Hearings - Injunctive Relief.

Effective:
July 1, 2009
Latest Legislation:
House Bill 525 - 127th General Assembly
(A) The superintendent of financial institutions may make any investigation and conduct any hearing the superintendent considers necessary to determine whether any person has violated sections 1315.21 to 1315.28 of the Revised Code, or has engaged in conduct that would justify the suspension, revocation, or refusal of an original or renewal check-cashing license.
(B) In making any investigation or conducting any hearing pursuant to this section, the superintendent, or any person designated by the superintendent, at any time may compel by subpoena witnesses, may take depositions of witnesses residing without the state in the manner provided for in civil actions, pay any witnesses the fees and mileage for their attendance provided for under section 119.094 of the Revised Code, and administer oaths. The superintendent also may compel by order or subpoena duces tecum the production of, and examine, all relevant books, records, accounts, and other documents. If a person does not comply with a subpoena or subpoena duces tecum, the superintendent may apply to the court of common pleas of Franklin county for an order compelling the person to comply with the subpoena or subpoena duces tecum or, for failure to do so, an order to be held in contempt of court. If the person is licensed under section 1315.23 of the Revised Code, the superintendent also may suspend, revoke, or refuse an original or renewal license.
(C) In connection with any investigation under this section, the superintendent may file an action in the court of common pleas of Franklin county or the court of common pleas of the county in which the person who is the subject of the investigation resides, or is engaging in or proposing to engage in actions in violation of sections 1315.21 to 1315.28 of the Revised Code, to obtain an injunction, temporary restraining order, or other appropriate relief.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1315 | Transmitters of Money; Check-Cashing Businesses › Section 1315.25 | Conditions for Deposit of Checks Into Financial Institution.

Effective:
July 30, 1993
Latest Legislation:
House Bill 266 - 120th General Assembly
On and after January 1, 1993, no check-cashing business shall deposit, in a financial institution, any check cashed by the check-cashing business unless both of the following conditions are met:
(A) The check is indorsed with the name of the check-cashing business that appears on its license.
(B) The words "licensed check-cashing business" are written legibly or stamped immediately after or below the name of the indorser.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1315 | Transmitters of Money; Check-Cashing Businesses › Section 1315.26 | Limitations on Fees and Charges.

Effective:
July 30, 1993
Latest Legislation:
House Bill 266 - 120th General Assembly
(A) No check-cashing business shall charge check-cashing fees or other check-cashing charges in an amount that exceeds three per cent of the face amount of the check for cashing checks issued by this state, a state agency, a political subdivision of this state, or the United States.
(B) Each check-cashing business shall conspicuously post and at all times display in every business location a schedule of its fees and charges for all services permitted under sections 1315.21 to 1315.28 of the Revised Code.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1315 | Transmitters of Money; Check-Cashing Businesses › Section 1315.27 | Rules.

Effective:
September 26, 1996
Latest Legislation:
Senate Bill 293 - 121st General Assembly
The superintendent of financial institutions shall adopt rules, in accordance with Chapter 119. of the Revised Code, for the administration and enforcement of sections 1315.21 to 1315.30 of the Revised Code. The rules shall include, but shall not be limited to, both of the following:
(A) Record-keeping requirements that require check-cashing businesses to do all of the following:
(1) Maintain a daily cash reconcilement that:
(a) Summarizes daily activity;
(b) Reconciles cash-on-hand at the opening of business to cash-on-hand at the close of business;
(c) Separately reflects cash received from the sale of checks, cash disbursed in cashing of checks, redemption of returned items, bank cash deposits, and bank cash withdrawals.
(2) Maintain a general ledger that:
(a) Contains records of all assets, liabilities, capital, income, and expenses;
(b) Is posted monthly from the original entry records;
(c) Facilitates the preparation of an accurate trial balance of accounts in accordance with generally accepted accounting practices;
(d) May consolidate activity at two or more locations, provided that books of original entries are maintained separately for each location.
(3) Provide a receipt to each customer indicating the amount of the check and the fee charged;
(4) Maintain business records for at least two years.
(B) Reasonable business practices of persons licensed under sections 1315.21 to 1315.28 of the Revised Code.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1315 | Transmitters of Money; Check-Cashing Businesses › Section 1315.28 | Prohibited Acts - Damages for Violation.

Effective:
September 26, 1996
Latest Legislation:
Senate Bill 293 - 121st General Assembly
(A) No check-cashing business shall knowingly make any incorrect statement of a material fact or omit to state a material fact in any application made, investigation conducted, or hearing held pursuant to sections 1315.22 to 1315.24 of the Revised Code.
(B) No person shall:
(1) Obstruct or refuse to permit any lawful investigation by the superintendent of financial institutions, a person acting on behalf of an agency of the state or a political subdivision, or a law enforcement officer;
(2) Fail to comply with division (A) of section 1315.22 of the Revised Code;
(3) Violate or participate in the violation of sections 1315.21 to 1315.28 of the Revised Code or the rules adopted thereunder.
(C) Any person that knowingly violates any provision of sections 1315.21 to 1315.28 of the Revised Code shall forfeit to the injured party an amount equal to twice the actual damages suffered by the injured party by reason of the violation.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1315 | Transmitters of Money; Check-Cashing Businesses › Section 1315.30 | State to Solely Regulate Check-Cashing Business.

Effective:
September 26, 1996
Latest Legislation:
Senate Bill 293 - 121st General Assembly
The state, through the superintendent of financial institutions and in accordance with sections 1315.21 to 1315.30 of the Revised Code, shall solely regulate persons engaged in the check-cashing business and the manner in which any such business is conducted.
By the enactment of sections 1315.21 to 1315.30 of the Revised Code, it is the intent of the general assembly to preempt municipal corporations and other political subdivisions from the regulation and licensing of check-cashing businesses.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1315 | Transmitters of Money; Check-Cashing Businesses › Section 1315.52 | Liberal Construction of Statutes.

Effective:
September 19, 1996
Latest Legislation:
House Bill 333 - 121st General Assembly
Sections 1315.51 to 1315.55 of the Revised Code shall be liberally construed to effectuate their remedial purposes.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1315 | Transmitters of Money; Check-Cashing Businesses › Section 1315.54 | Investigations.

Effective:
October 3, 2023
Latest Legislation:
House Bill 33 - 135th General Assembly
(A) The attorney general may conduct investigations within or outside this state to determine if a money transmitter or person engaged in a trade or business has failed to file a report required by section 1315.53 of the Revised Code or has engaged or is engaging in an act, practice, or transaction that constitutes a violation of a provision of sections 1315.51 to 1315.55 of the Revised Code.
(B) On request of the attorney general, a money transmitter shall make the money transmitter's books and records available to the attorney general during normal business hours for inspection and examination in connection with an investigation conducted under this section. No person shall purposely fail to comply with this division.
(C) Any record or other document or information obtained by the attorney general pursuant to an investigation conducted under this section is not a public record subject to section 149.43 of the Revised Code and is not subject to disclosure.
(D) This section does not apply to any bank, bank holding company, or affiliate of a bank or bank holding company, or to any savings and loan association, savings and loan holding company, or affiliate of a savings and loan association or savings and loan holding company that is subject to examination by the comptroller of the currency, the federal reserve, or the federal deposit insurance corporation.
Last updated September 6, 2023 at 2:29 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1315 | Transmitters of Money; Check-Cashing Businesses › Section 1315.55 | Additional Prohibited Activities.

Effective:
September 19, 1996
Latest Legislation:
House Bill 333 - 121st General Assembly
(A)(1) No person shall conduct or attempt to conduct a transaction knowing that the property involved in the transaction is the proceeds of some form of unlawful activity with the purpose of committing or furthering the commission of corrupt activity.
(2) No person shall conduct or attempt to conduct a transaction knowing that the property involved in the transaction is the proceeds of some form of unlawful activity with the intent to conceal or disguise the nature, location, source, ownership, or control of the property or the intent to avoid a transaction reporting requirement under section 1315.53 of the Revised Code or federal law.
(3) No person shall conduct or attempt to conduct a transaction with the purpose to promote, manage, establish, carry on, or facilitate the promotion, management, establishment, or carrying on of corrupt activity.
(4) No person shall conduct or structure or attempt to conduct or structure a transaction that involves the proceeds of corrupt activity that is of a value greater than ten thousand dollars if the person knows or has reasonable cause to know that the transaction involves the proceeds of corrupt activity.
(5) No person shall conduct or attempt to conduct a transaction that involves what has been represented to the person by a law enforcement officer or another person at the direction of or with the approval of a law enforcement officer to be the proceeds of corrupt activity or property used to conduct or facilitate corrupt activity with the intent to promote, manage, establish, carry on, or facilitate promotion, management, establishment, or carrying on of corrupt activity, to conceal or disguise the nature, location, source, ownership, or control of the property believed to be the proceeds of corrupt activity, or to avoid a transaction reporting requirement under section 1315.53 of the Revised Code or federal law.
(B) In addition to the criminal sanctions imposed under section 1315.99 of the Revised Code, the sentencing court may impose upon a person who violates division (A) of this section an additional fine of three times the value of the property involved in the transaction. The fine shall be paid to the state treasury to the credit of the general revenue fund.
(C) For the purposes of division (A) of this section, a person shall be considered to know or have reasonable cause to know that proceeds are from corrupt activity if either of the following apply:
(1) The person knows or has reasonable cause to know that the proceeds are from some form of activity that constitutes corrupt activity, though not necessarily which form of corrupt activity;
(2) As a part of a covert investigation, a law enforcement officer in his undercover capacity represents to the person that the proceeds are from some form of activity that constitutes corrupt activity.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1315 | Transmitters of Money; Check-Cashing Businesses › Section 1315.99 | Penalty.

Effective:
September 1, 2008
Latest Legislation:
House Bill 545 - 127th General Assembly
(A) Whoever violates division (A) or (B) of section 1315.28 or division (E)(2) of section 1315.53 of the Revised Code is guilty of a misdemeanor of the first degree.
(B) Whoever violates division (F)(1) of section 1315.53 or division (B) of section 1315.54 of the Revised Code is guilty of a felony of the fourth degree.
(C) Whoever violates division (A) of section 1315.55 of the Revised Code is guilty of money laundering. A violation of division (A)(1), (2), (3), (4), or (5) of that section is a felony of the third degree, and, in addition, the court may impose a fine of seven thousand five hundred dollars or twice the value of the property involved, whichever is greater.
(D) Whoever knowingly violates division (A) of section 1315.02, or intentionally violates division (B)(1) of section 1315.081, of the Revised Code is guilty of a felony of the fourth degree.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.02 | Buyer's Copy.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
Every retail installment sale shall be evidenced by an instrument in writing. A copy of said instrument shall be delivered to the retail buyer by the retail seller at the time of its execution. An acknowledgment of the delivery thereof contained in the body of the instrument is prima-facie proof of delivery in any action to enforce any obligation arising out of the retail installment sale. The written instrument shall contain all of the agreements of the parties, and shall set forth specifically all items and matters required by sections 1317.01 to 1317.11, inclusive, of the Revised Code. The reference to insurance shall recite generally the type of insurance the retail seller has agreed to procure for the retail buyer but such reference to insurance shall not be construed to imply the scope of the coverage, the terms, exceptions, limitations, restrictions, or condition of the contract of insurance to be furnished. Said sections do not require the retail seller to comply with this section at any time prior to the delivery of the specific goods to the retail buyer.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.03 | Evidence of Indebtedness.

Effective:
July 1, 1962
Latest Legislation:
Senate Bill 5 - 104th General Assembly
A retail seller may require a retail buyer to execute and deliver a promissory note to evidence the indebtedness created by a retail installment sale, and, to secure the payment of the indebtedness created by the sale or evidenced by the promissory note or to secure the performance of any other condition of the sale, may require the retail buyer to execute and deliver a security agreement to give the retail seller a security interest in the specific goods which were the subject matter of the retail installment sale. A written instrument required by section 1317.02 of the Revised Code may evidence the security interest.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.031 | Inclusion of Holder in Due Course.

Effective:
August 19, 1994
Latest Legislation:
Senate Bill 147 - 120th General Assembly
Notwithstanding section 1303.35 of the Revised Code, a buyer who executes a purchase money loan installment note or a retail installment contract in connection with a consumer transaction may assert against any holder, assignee, or transferee of the note or contract, specifically including any holder in due course, as defined in section 1303.32 of the Revised Code, of the note or contract any defense that the buyer may assert against the seller that is authorized by this chapter.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.04 | Separate Items to Be Listed in Written Instrument.

Effective:
January 1, 2021
Latest Legislation:
House Bill 339 - 133rd General Assembly
The written instrument evidencing a retail installment sale and required by section 1317.02 of the Revised Code shall recite the following:
(A) The cash price of the specific goods.
(B) The amount in cash of the retail buyer's down payment, if any, whether made in money or goods or partly in money or partly in goods.
(C) The unpaid balance of the cash price payable by the retail buyer to the retail seller which is the difference between divisions (A) and (B).
(D) The amount included for any insurance and the types of insurance coverage.
(E) The principal balance owed on the retail installment contract which is the sum total of divisions (C) and (D).
(F) The amount of the finance charge.
(G) The time balance or indebtedness owed by the retail buyer to the retail seller and the number of installment payments required and the amount and date of each payment necessary finally to pay the time balance which is the sum total of divisions (E) and (F).
Divisions (D) and (F) may be added together and stated as one sum in the written instrument and if so stated division (E) may be omitted, but in such event the retail seller or the retail seller's successor in interest shall, within twenty-five days after the making of the retail installment contract, deliver personally, send by mail, or cause to be sent by mail, to the retail buyer at the retail buyer's address as shown on the retail installment contract, a statement reciting the separate amounts of divisions (D), (E), and (F). Division (F) may be stated as a rate, if said rate does not exceed eight per cent per annum straight interest, in which event the time balance provided in division (G) need not be stated.
The amount and date of each payment need not be separately listed if the payments are specified in terms of a series of payments of specified amounts, which amounts may state the principal amount plus the finance charge in terms of a rate at specified intervals of time from an initial date.
The initial date for the payment of the first installment may be a calendar date or may refer to the time of delivery or installation.
As used in this section "down payment" means that part of the payment of the cash price required by the retail seller as a condition to the delivery of the specific goods sold or to be sold or to the extension of credit to the retail buyer for any portion of the cash price.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.061 | Retail Seller or Holder May Contract for and Receive Alternative Finance Charges or Interest.

Effective:
February 11, 1982
Latest Legislation:
House Bill 526 - 114th General Assembly
As an alternative to the finance charges permitted in division (A) of section 1317.06 of the Revised Code or the interest permitted in division (B) of that section, and to the finance charges permitted in division (B) of section 1317.11 of the Revised Code, a retail seller or holder may contract for and receive finance charges or interest at any rate or rates agreed upon or consented to by the parties to the retail installment contract or revolving budget agreement, but not exceeding an annual percentage rate of twenty-five per cent.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.062 | Retail Seller or Holder May Contract for and Receive Alternative Delinquent Charges.

Effective:
September 27, 1996
Latest Legislation:
House Bill 538 - 121st General Assembly
(A)(1) As an alternative to the delinquent charges permitted in division (B) of section 1317.06 and division (B) of section 1317.11 of the Revised Code, a retail seller or holder may contract for and receive delinquent charges in any amount agreed upon or consented to by the parties to the retail installment contract or revolving budget agreement.
(2) Each retail installment contract and revolving budget agreement permitting delinquent charges in accordance with division (A)(1) of this section shall contain a statement that clearly and concisely informs the consumer of the amount of the delinquent charges and the conditions under which the delinquent charges will be charged.
(B) A retail seller or holder may contract with a retail buyer for and receive check collection charges for each check or other negotiable instrument that is issued as payment on the retail installment contract or revolving budget agreement and that is returned or dishonored for any reason.
(C) Any charges that are contracted for and received by a retail seller or holder as permitted by this section shall not be included in the computation of the annual percentage rate or rates of interest or finance charges for purposes of determining whether the maximum annual percentage rate or maximum rate or rates of interest or finance charges authorized under sections 1317.06, 1317.061, and 1317.11 of the Revised Code have been exceeded.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.07 | Requirements of Retail Installment Contract.

Effective:
June 30, 2021
Latest Legislation:
House Bill 74 - 134th General Assembly
No retail installment contract authorized by section 1317.03 of the Revised Code that is executed in connection with any retail installment sale shall evidence any indebtedness in excess of the time balance fixed in the written instrument in compliance with section 1317.04 of the Revised Code, but it may evidence in addition any agreements of the parties for the payment of delinquent charges, as provided for in section 1317.06 of the Revised Code, taxes, and any lawful fee actually paid out, or to be paid out, by the retail seller to any public officer for filing, recording, or releasing any instrument securing the payment of the obligation owed on any retail installment contract. No retail seller, directly or indirectly, shall charge, contract for, or receive from any retail buyer, any further or other amount for examination, service, brokerage, commission, expense, fee, or other thing of value, unless the retail seller is otherwise authorized by law to do so. A documentary service charge customarily and presently being paid on May 9, 1949, in a particular business and area may be charged if the charge does not exceed two hundred fifty dollars per sale.
No retail seller shall use multiple agreements with respect to a single item or related items purchased at the same time, with intent to obtain a higher charge than would otherwise be permitted by Chapter 1317. of the Revised Code or to avoid disclosure of an annual percentage rate, nor by use of such agreements make any charge greater than that which would be permitted by Chapter 1317. of the Revised Code had a single agreement been used.
Last updated April 9, 2021 at 1:19 PM
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.071 | Limits on Security Interests.

Effective:
April 4, 1973
Latest Legislation:
House Bill 350 - 109th General Assembly
No retail seller, in connection with a retail installment contract arising out of a consumer transaction, shall take any security interest other than as authorized by this section.
A seller may take a security interest in the property sold, and in goods upon which services are performed or in which goods sold are installed or to which they are annexed.
A seller may secure the debt arising from the sale by contracting for a security interest in other property if, as a result of a prior sale, the seller has an existing security interest in the other property, and he may contract for a security interest in the property sold in the subsequent sale as security for the previous debt. If debts arising from two or more sales are thus secured or are consolidated into one debt payable on a single schedule of payments, and the debt is secured by security interests taken with respect to one or more of the sales, payments received by the seller after the taking of security interests in the other property or the consolidation are deemed, for the purpose of determining the amount of the debt secured by the various security interests, to have been first applied to the payment of the debts arising from the sales first made. To the extent debts are paid according to this section, security interests in items of property terminate as the debt originally incurred with respect to each item is paid.
Payments received by the seller upon a revolving charge account are deemed, for the purpose of determining the amount of the debt secured by the various security interests, to have been applied first to the payment of credit service charges in the order of their entry to the account and then to the payment of debts in the order in which the entries to the account showing the debts were made.
If the debts consolidated arose from two or more sales made on the same day, payments received by the seller are deemed, for the purpose of determining the amount of the debt secured by the various security interests, to have been applied first to the payment of the smallest debt.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.08 | Unenforceable Retail Installment Contracts.

Effective:
February 19, 2002
Latest Legislation:
House Bill 229 - 124th General Assembly
(A)(1) No retail installment contract that evidences an indebtedness greater than that allowed under sections 1317.06, 1317.061, 1317.062, and 1317.07 of the Revised Code, and no retail installment contract in connection with which any charge prohibited by sections 1317.01 to 1317.11 of the Revised Code has been contracted for or received, shall be enforceable with respect to that excess indebtedness or charge against any retail buyer or any other person who as surety, indorser, guarantor, or otherwise is liable on the obligation created by any retail buyer on any retail installment contract.
(2) No security interest created by any retail installment contract described in division (A)(1) of this section that is greater than that allowed under sections 1317.06, 1317.07, and 1317.071 of the Revised Code shall be enforceable with respect to that excess security interest against any retail buyer or any of the persons described in division (A)(1) of this section, in default under the terms of the retail installment contract.
(B) In order for a retail buyer, or any of the persons described in division (A)(1) of this section that is liable on the retail buyer's obligation, to avail the retail buyer or other person of this section, the retail buyer or other person must prove that the retail seller or the holder of the retail installment contract has been notified in writing of the overcharge and has failed within ten days of such notification to advise the retail buyer of a full credit, or the retail buyer or other person must prove that the overcharge has been willful. A correction of any overcharge within sixty days of the date of making of the retail installment contract is conclusive proof of lack of willfulness.
(C) This section applies to cases in which recovery is sought from the retail seller or holder of the retail installment contract.
(D) If charges greater in amount than those provided for in sections 1317.01 to 1317.11 of the Revised Code are contracted for or received by the retail seller or the retail seller's agent, assignee, or successor in interest, the retail buyer or the retail buyer's assignee or successor in interest may recover the total amount of finance charges paid to the retail seller or the retail seller's agent, assignee, or successor in interest, in excess of the interest rate that otherwise would apply under section 1343.01 of the Revised Code.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.09 | Payment in Full Before Maturity - Refund Credit.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
Notwithstanding any retail installment contract to the contrary, any retail buyer may satisfy in full at any time before maturity the debt of any retail installment contract and in so satisfying such debt shall receive a refund credit thereon for such anticipation of payments. The amount of such refund shall represent at least as great a proportion of the total finance charge, less an acquisition cost of ten dollars, as the sum of the periodical time balances, after the date of prepayment, bears to the sum of all the periodical time balances under the schedule of payments in the original contract. When the amount of the credit for anticipation of payments is less than one dollar, no refund need be made.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.10 | Prior Agreement Is Not a Waiver.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
No agreement of any retail buyer made prior to or concurrent with the execution of any retail installment contract is a waiver of sections 1317.01 to 1317.11, inclusive, of the Revised Code.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.13 | Time Balance.

Effective:
July 1, 2001
Latest Legislation:
Senate Bill 74 - 124th General Assembly
As used in this section, "motor vehicle" and "mobile home" have the same meanings as in section 4501.01 of the Revised Code, and "manufactured home" has the same meaning as in section 3781.06 of the Revised Code.
Notwithstanding the provisions of section 1309.609 of the Revised Code or any agreement by the parties to a consumer transaction to the contrary, a secured party whose security interest is taken pursuant to section 1317.071 of the Revised Code shall not be entitled to take possession of the collateral, except for collateral that is a motor vehicle, a manufactured home, or a mobile home, upon default by the debtor if the time balance at the time of the default is less than twenty-five per cent of the sum of the time balance on the day such retail installment contract was executed and the down payment recited in such contract.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.14 | Waiver of Defenses Provision in Contract Is Void.

Effective:
August 8, 1980
Latest Legislation:
House Bill 272 - 113th General Assembly
Any provision in a retail installment contract or in any other agreement that is executed on or after August 1, 1980, by which a buyer in connection with a consumer transaction agrees not to assert any defenses against a seller, or the seller's assignee or transferee, is void, and the courts have no jurisdiction to enforce any such provision.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.16 | Disposition of Collateral.

Effective:
July 1, 2001
Latest Legislation:
Senate Bill 74 - 124th General Assembly
(A) A secured party whose security interest is taken pursuant to section 1317.071 of the Revised Code may, after default, dispose of any or all of the collateral only as authorized by this section.
(B) Disposition of the collateral shall be by public sale only. Such sale may be as a unit or in parcels and the method, manner, time, place, and terms thereof shall be commercially reasonable. At least ten days prior to sale the secured party shall send notification of the time and place of such sale and of the minimum price for which such collateral will be sold, together with a statement that the debtor may be held liable for any deficiency resulting from such sale, by certified mail, return receipt requested, to the debtor at the debtor's last address known to the secured party, and to any persons known by the secured party to have an interest in the collateral. In addition, the secured party shall cause to be published, at least ten days prior to the sale, a notice of such sale listing the items to be sold, in a newspaper of general circulation in the county where the sale is to be held.
(C) Except as modified by this section, sections 1309.610, 1309.611, 1309.615, 1309.617, and 1309.624 of the Revised Code govern disposition of collateral by the secured party.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.23 | Payment of Refunds.

Effective:
May 1, 1992
Latest Legislation:
House Bill 289 - 119th General Assembly
Refunds provided to a buyer under sections 1317.21 and 1317.22 of the Revised Code shall be made by the seller within thirty days of the completion of the applicable notice requirement by delivering cash, a check, or a money order to the buyer. The seller may determine the method of payment and the buyer may determine the manner of delivering the refund. If the seller delivers a cash refund to the buyer in a face-to-face transaction, the seller may require the buyer to sign a receipt for the refund. The receipt shall indicate the date and amount of the refund and shall identify with reasonable specificity the merchandise or specific good which was the subject of the layaway arrangement.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.24 | Failure to Comply Is Unfair or Deceptive Act or Practice.

Effective:
May 1, 1992
Latest Legislation:
House Bill 289 - 119th General Assembly
A seller's failure to comply with sections 1317.21 to 1317.23 of the Revised Code is an unfair or deceptive act or practice in violation of section 1345.02 of the Revised Code.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1317 | Retail Installment Sales › Section 1317.99 | Penalty.

Effective:
January 9, 1961
Latest Legislation:
House Bill 1 - 104th General Assembly
(A) Whoever willfully violates sections 1317.01 to 1317.11, inclusive, of the Revised Code, shall be fined not more than one thousand dollars or imprisoned not more than one year, or both.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1319 | Miscellaneous Credit Transactions › Section 1319.01 | Liability for Unauthorized Use of Credit Card.

Effective:
November 18, 1969
Latest Legislation:
Senate Bill 346 - 108th General Assembly
A cardholder who receives a credit card from an issuer, which such cardholder has not requested nor used, shall not be liable for any use made of such credit card which has not been authorized by such cardholder, unless such credit card is in replacement or renewal of a credit card previously requested or used by the cardholder.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1319 | Miscellaneous Credit Transactions › Section 1319.02 | Enforcing Commitment to Pay Attorneys' Fees in Commercial Contract of Indebtedness.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
(A) As used in this section:
(1) "Contract of indebtedness" means a note, bond, mortgage, conditional sale contract, retail installment contract, lease, security agreement, or other written evidence of indebtedness, other than indebtedness incurred for purposes that are primarily personal, family, or household.
(2) "Commitment to pay attorneys' fees" means an obligation to pay attorneys' fees that arises in connection with the enforcement of a contract of indebtedness.
(3) "Maturity of the debt" includes maturity upon default or otherwise.
(B) If a contract of indebtedness includes a commitment to pay attorneys' fees, and if the contract is enforced through judicial proceedings or otherwise after maturity of the debt, a person that has the right to recover attorneys' fees under the commitment, at the option of that person, may recover attorneys' fees in accordance with the commitment, to the extent that the commitment is enforceable under divisions (C) and (D) of this section.
(C) A commitment to pay attorneys' fees is enforceable under this section only if the total amount owed on the contract of indebtedness at the time the contract was entered into exceeds one hundred thousand dollars.
(D) A commitment to pay attorneys' fees is enforceable only to the extent that it obligates payment of a reasonable amount. In determining the amount of attorneys' fees that is reasonable, all relevant factors shall be considered, including but not limited to, the nature of the services rendered, the time expended in rendering the services, the amount of money and the value of the property affected, and the professional skill and expertise of the attorney or attorneys rendering the services. Unless a court has been requested to make a determination of the amount of attorneys' fees that is reasonable and finds to the contrary by a preponderance of the evidence, the following are deemed reasonable amounts:
(1) If the commitment to pay attorneys' fees is based upon a specific percentage of the total principal, interest, and other charges owed on the contract of indebtedness, the percentage of the total so owed as specified in the contract of indebtedness;
(2) If the commitment to pay attorneys' fees is not based upon a specific percentage of the total principal, interest, and other charges owed on the contract of indebtedness, an amount equal to the attorneys' fees customarily charged by the attorney or attorneys rendering the services.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1319 | Miscellaneous Credit Transactions › Section 1319.06 | Husband and Wife Must Join in Chattel Mortgage on Household Property.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
No husband or wife shall create any lien by chattel mortgage or otherwise upon any personal household property owned by either or both of them, without the joint consent of both husband and wife. No such mortgage is valid unless executed by both husband and wife.
This section does not apply to any mortgage or lien for the purchase price of such property.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1319 | Miscellaneous Credit Transactions › Section 1319.07 | Definitions for Rc Sections 1319.07 to 1319.09.

Effective:
March 27, 2013
Latest Legislation:
House Bill 479 - 129th General Assembly
As used in sections 1319.07 to 1319.09 of the Revised Code:
(A) "Nonrecourse carveout" means a specific exemption, if any, to the nonrecourse provisions set forth in the loan documents for a nonrecourse loan that has the effect of creating, if specified events occur, personal liability of the borrower or guarantor or other surety of the loan for all or some amounts owed to the lender.
(B) "Nonrecourse loan" means a commercial loan secured by a mortgage on real property located in this state and evidenced by loan documents that meet any of the following:
(1) Provide that the lender will not enforce the liability or obligation of the borrower by an action or proceeding in which a money judgment is sought against the borrower;
(2) Provide that any judgment in any action or proceeding on the loan is enforceable against the borrower only to the extent of the borrower's interest in the mortgaged property and other collateral security given for the loan;
(3) Provide that the lender will not seek a deficiency judgment against the borrower;
(4) Provide that there is no recourse against the borrower personally for the loan;
(5) Include any combination of divisions (B)(1) to (4) of this section or any other provisions to the effect that the loan is without personal liability to the borrower beyond the borrower's interest in the mortgaged property and other collateral security given for the loan.
(C) "Nonrecourse provisions" means one or more of the provisions described in divisions (B)(1) to (5) of this section, whether or not the loan is subject to a nonrecourse carveout or carveouts.
(D) "Postclosing solvency covenant" means any provision of the loan documents for a nonrecourse loan, whether expressed as a covenant, representation, warranty, or default, that relates solely to the solvency of the borrower, including, without limitation, a provision requiring that the borrower maintain adequate capital or have the ability to pay the borrower's debts, with respect to any period of time after the date the loan is initially funded. "Postclosing solvency covenant" does not include a covenant not to file a voluntary bankruptcy or other voluntary insolvency proceeding or not to collude in an involuntary proceeding.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1319 | Miscellaneous Credit Transactions › Section 1319.08 | Use of Postclosing Solvency Covenant.

Effective:
March 27, 2013
Latest Legislation:
House Bill 479 - 129th General Assembly
(A) A postclosing solvency covenant shall not be used, directly or indirectly, as a nonrecourse carveout or as the basis for any claim or action against a borrower or any guarantor or other surety on a nonrecourse loan.
(B) A provision in the documents for a nonrecourse loan that does not comply with division (A) of this section is invalid and unenforceable.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1319 | Miscellaneous Credit Transactions › Section 1319.09 | Loans Without Nonrecourse Loan Provisions.

Effective:
March 27, 2013
Latest Legislation:
House Bill 479 - 129th General Assembly
Section 1319.08 of the Revised Code does not prohibit a loan that is secured by a mortgage on real property located in this state from being fully recourse to the borrower or guarantor, including, but not limited to, as a result of a postclosing solvency covenant, if the loan documents for that loan do not contain nonrecourse loan provisions.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1319 | Miscellaneous Credit Transactions › Section 1319.11 | Joining or Separating Claims of Creditors.

Effective:
September 17, 1996
Latest Legislation:
Senate Bill 180 - 121st General Assembly
(A) Two or more creditors of a debtor or co-debtors may join their respective claims together for the purpose of commencing litigation against the debtor or co-debtors.
(B) If a debtor or co-debtor raises a good faith dispute concerning any accounts, bills, or other evidences of indebtedness that have been joined together for litigation pursuant to this section, the court shall separate the disputed account, bill, or other evidence of indebtedness from the action and hear the disputed account, bill, or other evidence of indebtedness on its own merits in a separate action. The court shall charge the filing fee of the separate action to the losing party.