Section 1355.02 | Regulatory Sandbox Program.
Effective: March 14, 2023 Latest Legislation: Senate Bill 249 – 134th General Assembly The superintendent of financial institutions shall establish a regulatory sandbox program in consultation with applicable agencies to enable a person to obtain limited access to the market in this state to test novel financial products or services without obtaining any other license […]
Section 1355.03 | Application for Entry Into Sandbox.
Effective: March 14, 2023 Latest Legislation: Senate Bill 249 – 134th General Assembly (A)(1) Any person may apply to enter the regulatory sandbox to test a novel financial product or service. (2) A person shall file an application with the superintendent of financial institutions in order to test a novel financial product or service if […]
Section 1355.04 | Input From Applicable Agencies.
Effective: March 14, 2023 Latest Legislation: Senate Bill 249 – 134th General Assembly The superintendent of financial institutions shall consult with all applicable agencies before admitting a person into the regulatory sandbox. This consultation may include seeking information about any of the following: (A) Whether the applicable agency previously has either: (1) Issued a license […]
Section 1355.05 | Terms of Participation in Sandbox.
Effective: March 14, 2023 Latest Legislation: Senate Bill 249 – 134th General Assembly (A) If the superintendent of financial institutions approves an application for entry into the regulatory sandbox, the applicant is considered a sandbox participant and the superintendent shall issue the sandbox participant a license number. (B) The superintendent and sandbox participant shall enter […]
Section 1355.06 | Consumer Disclosures.
Effective: March 14, 2023 Latest Legislation: Senate Bill 249 – 134th General Assembly (A) Before providing a novel financial product or service to a consumer, a sandbox participant shall disclose to the consumer all of the following: (1) The name and contact information of the sandbox participant, including the license number provided by the superintendent […]
Section 1354.01 | Definitions.
Effective: April 5, 2019 Latest Legislation: House Bill 66 – 132nd General Assembly As used in this chapter: (A) “Business” means any limited liability company, limited liability partnership, corporation, sole proprietorship, association, state institution of higher education as defined in section 3345.011 of the Revised Code, private college as defined in section 3365.01 of the […]
Section 1351.07 | Advertisements – Mandatory Information to Be Supplied.
Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly (A) No advertisement for a lease-purchase agreement shall state that a lease of any specific property is available at specific amounts or on specific terms unless the lessor will lease the property at those amounts or on those terms. (B) No advertisement […]
Section 1351.08 | Liability of Lessor for Noncompliance.
Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly (A) A lessor who fails to comply with the requirements of this chapter with respect to a lease-purchase agreement is liable to the lessee in an amount equal to the sum of the following: (1) The costs of the action and reasonable […]
Section 1351.09 | Limits on Lessor’s Liability.
Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly (A) A lessor is not liable under section 1351.08 of the Revised Code for any violation of the requirements of this chapter if, within sixty days after discovering an error, and before an action for damages is filed against him pursuant to […]
Section 1353.01 | Farm Machinery or Construction Equipment Dealers or Suppliers Definitions.
Effective: October 26, 2001 Latest Legislation: House Bill 200 – 124th General Assembly As used in this chapter: (A) “Attachments” means equipment designed to be used on or in conjunction with farm machinery or construction equipment. (B) “Current net price” means the price listed in the supplier’s price list or catalog in effect at the […]