Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Sections 1321.01 to 1321.19, inclusive, of the Revised Code may be modified, amended, or repealed so as to effect a cancellation or alteration of any license or right of a licensee, provided that such cancellation or alteration shall not impair or affect […]
Effective: October 16, 2009 Latest Legislation: House Bill 1 – 128th General Assembly (A) Every person licensed or registered under this chapter shall pay to the superintendent of financial institutions, prior to the last day of June, an annual license or certificate of registration fee. On or about the fifteenth day of April of each […]
Effective: September 30, 2021 Latest Legislation: House Bill 110 – 134th General Assembly All fees, charges, penalties, and forfeitures collected under Chapters 1321., 1322., 4712., 4727., and 4728., sections 1315.21 to 1315.30, and sections 1349.25 to 1349.37 of the Revised Code shall be paid to the superintendent of financial institutions and shall be deposited by […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly No assignment of, or order for, wages or salary is valid unless made in writing by the person by whom the said wages or salary are earned and no assignment of, or order for, wages or salary made by a married person […]
Effective: October 16, 1959 Latest Legislation: House Bill 978 – 103rd General Assembly Notwithstanding section 1321.31 of the Revised Code, no assignment of, or order for wages or salary is valid unless the wages assigned or ordered are to be paid for the support of the employee’s spouse or minor child in complying with an […]
Effective: January 1, 1979 Latest Legislation: Senate Bill 87 – 112th General Assembly The limitations and regulations of sections 1321.01 to 1321.19 and 1321.31 of the Revised Code do not apply to assignments of, or orders for, wages for the support of a spouse or children when such assignments or orders are made to comply […]
Effective: October 29, 2018 Latest Legislation: House Bill 123 – 132nd General Assembly As used in sections 1321.35 to 1321.48 of the Revised Code: (A) “Short-term loan” means a loan made pursuant to sections 1321.35 to 1321.48 of the Revised Code. (B) “Superintendent of financial institutions” includes the deputy superintendent for consumer finance as provided […]
Effective: October 29, 2018 Latest Legislation: House Bill 123 – 132nd General Assembly (A) No person shall engage in the business of making short-term loans to a borrower in Ohio, or, in whole or in part, make, offer, or broker a loan, or assist a borrower in Ohio to obtain such a loan, without first […]
Effective: October 9, 2021 Latest Legislation: House Bill 263 – 133rd General Assembly (A) Application for an original or renewal license to make short-term loans shall be in writing, under oath, and in the form prescribed by the superintendent of financial institutions, and shall contain the name and address of the applicant, the location where […]
Effective: September 1, 2008 Latest Legislation: House Bill 545 – 127th General Assembly (A) A license issued by the superintendent of financial institutions pursuant to sections 1321.35 to 1321.48 of the Revised Code shall state the address at which the business of making loans is to be conducted and shall state the full name of […]
Effective: October 29, 2018 Latest Legislation: House Bill 123 – 132nd General Assembly A licensee may engage in the business of making loans provided that each loan meets all of the following conditions: (A) The total amount of the loan does not exceed one thousand dollars. (B)(1) Subject to division (B)(2) of this section, the […]
Effective: October 29, 2018 Latest Legislation: House Bill 123 – 132nd General Assembly If the duration of a short-term loan is ninety-one days or greater, the licensee shall determine the recommended length of a loan based on the borrower’s verified monthly income as described in division (B)(2) of section 1321.39 of the Revised Code. The […]
Effective: October 29, 2018 Latest Legislation: House Bill 123 – 132nd General Assembly A licensee may charge, collect, and receive only the following fees and charges in connection with a short-term loan: (A) Interest not exceeding a rate of twenty-eight per cent per annum; (B)(1) Except as otherwise provided in division (B)(2) of this section, […]
Effective: October 29, 2018 Latest Legislation: House Bill 123 – 132nd General Assembly A licensee may refinance a short-term loan provided that all of the following apply to the refinanced loan: (A) The loan is a short-term loan. (B) Interest on the loan does not exceed a rate of twenty-eight per cent per annum. (C) […]
Effective: October 29, 2018 Latest Legislation: House Bill 123 – 132nd General Assembly If a short-term loan is prepaid in full or refinanced prior to the loan’s maturity date, the licensee shall refund to the borrower a prorated portion of the interest, monthly maintenance fees, and all other charges based on a ratio of the […]
Effective: October 29, 2018 Latest Legislation: House Bill 123 – 132nd General Assembly Notwithstanding any provision of sections 1321.35 to 1321.48 of the Revised Code to the contrary, a licensee shall not charge, collect, or receive in connection with a short-term loan a total amount of fees and charges that exceeds sixty per cent of […]
Effective: October 29, 2018 Latest Legislation: House Bill 123 – 132nd General Assembly No licensee shall do any of the following: (A) Violate section 1321.36 of the Revised Code; (B) Make a loan that does not comply with section 1321.39 of the Revised Code; (C) Charge, collect, or receive, directly or indirectly, credit insurance premiums, […]
Effective: October 29, 2018 Latest Legislation: House Bill 123 – 132nd General Assembly A licensee shall not attempt to collect from a borrower’s account after two consecutive attempts have failed, unless the licensee obtains new written authorization from the borrower to electronically transfer or withdraw funds from the borrower’s account. Last updated November 5, 2021 […]
Effective: July 1, 2009 Latest Legislation: House Bill 525 – 127th General Assembly (A) The superintendent of financial institutions shall, in accordance with Chapter 119. of the Revised Code, suspend or revoke a license issued pursuant to sections 1321.35 to 1321.48 of the Revised Code, if the superintendent determines that either of the following applies: […]
Effective: September 1, 2008 Latest Legislation: House Bill 545 – 127th General Assembly As often as the superintendent considers it necessary, the superintendent may examine the records of a licensee, but in any case, the superintendent shall examine the records of a licensee at least annually. Last updated November 4, 2021 at 4:36 PM
