Effective: April 5, 2001 Latest Legislation: House Bill 467 – 123rd General Assembly As used in this chapter: (A) “Pawnbroker” means a person engaged in the business of lending money on deposit or pledges of personal property, other than securities, printed evidence of indebtedness, titles, deeds, or bills of sale, at a total charge, rate […]
Effective: March 28, 2017 Latest Legislation: Senate Bill 235 – 131st General Assembly No person shall act as a pawnbroker, or advertise, transact, or solicit business as a pawnbroker, without first having obtained a license from the superintendent of financial institutions. A person shall obtain a separate license for each place of business at which […]
Effective: October 9, 2021 Latest Legislation: House Bill 263 – 133rd General Assembly (A) As used in this section, “experience in the capacity involved” means that the applicant for a pawnbroker’s license demonstrates sufficient financial responsibility and experience in the pawnbroker business, or in a related business, to act as a pawnbroker in compliance with […]
Effective: March 22, 2001 Latest Legislation: Senate Bill 180 – 123rd General Assembly On receipt of a notice pursuant to section 3123.43 of the Revised Code, the division of consumer finance shall comply with sections 3123.41 to 3123.50 of the Revised Code and any applicable rules adopted under section 3123.63 of the Revised Code with […]
Effective: May 6, 2005 Latest Legislation: Senate Bill 209 – 125th General Assembly (A) An application for a pawnbroker’s license shall state fully the name and address of the applicant and of every member, partner, stockholder, or owner of an applicant, and the location of the office or place of business in which the business […]
Effective: April 5, 2001 Latest Legislation: House Bill 467 – 123rd General Assembly The superintendent of financial institutions shall, either personally, or by such person as the superintendent may appoint for the purpose, at least once every eighteen months, and more often if deemed advisable, investigate the business of every person licensed as a pawnbroker, […]
Effective: March 28, 2017 Latest Legislation: Senate Bill 235 – 131st General Assembly (A) No pawnbroker shall charge, receive, or demand interest for any loan in excess of six per cent per month or fraction of a month on the unpaid principal. Interest shall be computed on a monthly basis on the amount of the […]
Effective: September 17, 1996 Latest Legislation: House Bill 353 – 121st General Assembly Every pawnbroker shall give to the pledgor or seller a statement upon which shall be legibly written in ink, printed, or typed, the name and address of the licensee making the loan or purchase, the amount of the loan or purchase price, […]
Effective: April 5, 2001 Latest Legislation: House Bill 467 – 123rd General Assembly (A) Every person licensed as a pawnbroker shall keep and use separate pawn forms and purchase forms to be approved by the superintendent of financial institutions. (B) The licensee shall record on the appropriate form for each pawn or purchase all of […]
Effective: April 5, 2001 Latest Legislation: House Bill 467 – 123rd General Assembly (A) A person licensed as a pawnbroker shall, every day, furnish the following information to the chief of police of the municipal corporation or township in which the licensee’s place of business is located or, if the place of business is not […]
Effective: March 28, 2017 Latest Legislation: Senate Bill 235 – 131st General Assembly (A) No person licensed as a pawnbroker shall recklessly receive any pledge or purchase any articles from any minor or from any person who is at the time intoxicated or under the influence of a controlled substance. (B) No person licensed as […]
Effective: March 28, 2017 Latest Legislation: Senate Bill 235 – 131st General Assembly (A) If a pledgor fails to pay interest and fees to a person licensed as a pawnbroker on a pawn loan for three months from the date of the loan or the date on which the last interest payment is due, the […]
Effective: March 28, 2017 Latest Legislation: Senate Bill 235 – 131st General Assembly (A) A person licensed as a pawnbroker shall retain any goods or articles purchased by the licensee until the expiration of fifteen days after the purchase is made. The licensee may dispose of such goods or articles sooner with the written permission […]
Effective: April 5, 2001 Latest Legislation: House Bill 467 – 123rd General Assembly (A) The superintendent of financial institutions shall adopt rules in accordance with Chapter 119. of the Revised Code for the administration and enforcement of this chapter. (B) The superintendent shall enforce this chapter, make all reasonable effort to discover alleged violators, notify […]
Effective: April 5, 2001 Latest Legislation: House Bill 467 – 123rd General Assembly This chapter does not apply to federally insured depository institutions such as a state or federally chartered bank, savings and loan association, or credit union.
Effective: April 5, 2001 Latest Legislation: House Bill 467 – 123rd General Assembly (A) No person licensed as a pawnbroker under this chapter, and no agent, officer, or employee thereof, shall violate this chapter. (B) Upon the criminal conviction of a licensee or any employee, manager, officer, director, shareholder, member, or partner of a licensee […]
Effective: April 5, 2001 Latest Legislation: House Bill 467 – 123rd General Assembly (A) A person licensed as a pawnbroker under this chapter shall state the license number issued by the superintendent of financial institutions in all advertisements, offers, and solicitations. (B) No person not licensed under this chapter may advertise as a pawnbroker.
Effective: April 5, 2001 Latest Legislation: House Bill 467 – 123rd General Assembly (A) Every sale, transfer, or hypothecation of any stock, security, membership, partnership, or other equitable, beneficial, or ownership interest in a person licensed as a pawnbroker, in an amount representing a ten per cent or greater equitable, membership, partnership, beneficial, or other […]
Effective: June 18, 2002 Latest Legislation: Senate Bill 138 – 124th General Assembly (A) Except as provided in division (C) of this section, any information arising from, obtained by, or contained in an investigation of a person licensed as a pawnbroker under this chapter performed by the superintendent of financial institutions is confidential information and […]
Effective: March 28, 2017 Latest Legislation: Senate Bill 235 – 131st General Assembly (A) Effective with the two-year period that begins June 30, 2017, and every two-year period thereafter, each person licensed as a pawnbroker under this chapter shall have at least one person employed at the licensee’s place of business who has completed by […]
