Ohio Revised Code
Chapter 1315 | Transmitters of Money; Check-Cashing Businesses
Section 1315.51 | Transaction Reporting, Money Laundering Definitions.

Effective: September 19, 1996
Latest Legislation: House Bill 333 - 121st General Assembly
As used in sections 1315.51 to 1315.55 of the Revised Code, unless the context otherwise requires:
(A) "Conduct the business" means engaging in activities regulated under sections 1315.51 to 1315.55 of the Revised Code.
(B) "Corrupt activity" has the same meaning as in section 2923 of the Revised Code.
(C) "Knowingly" has the same meaning as in section 2901.22 of the Revised Code.
(D) "Material" means a statement or omission that can affect the course or outcome of a transaction, regardless of whether or not the person making the statement or omission believes it to be material. "Material" includes the furnishing of a false or erroneous name, address, taxpayer identification number, business, profession, or occupation and the displaying or otherwise producing of physical proof of this false information.
(E) "Money" means a medium of exchange that is authorized or adopted by a domestic or foreign government as a part of its currency and that is customarily used and accepted as a medium of exchange in the country of issuance.
(F) "Money transmitter" means a person who is located or doing business in this state, including a check casher and a foreign money exchanger, and who does any of the following:
(1) Sells or issues payment instruments;
(2) Conducts the business of receiving money for the transmission of payment instruments or transmitting money;
(3) Conducts the business of exchanging payment instruments or money into a form of money or payment instrument;
(4) Conducts the business of receiving money for obligors for the purpose of paying that obligor's bills, invoices, or accounts;
(5) Meets the definition of a bank, financial agency, or financial institution as set forth in the "Currency and Foreign Transactions Reporting Act," 84 Stat. 1118 (1970), 31 U.S.C.A. 5312 or 31 C.F.R. 103.11;
(6) Is a financial institution as defined in section 1315.21 of the Revised Code.
(G) "Payment instrument" means a check, draft, money order, travelers check, or other instrument or order for the transmission or payment of money, sold to one or more persons, whether or not that instrument or order is negotiable. "Payment instrument" does not include an instrument that is redeemable by the issuer in merchandise or service, a credit card voucher, or a letter of credit.
(H) "Proceeds" means property acquired or derived directly or indirectly from, produced through, realized through, or caused by an act or omission and includes property of any kind.
(I) "Property" means anything of value and includes an interest in property, including a benefit, privilege, claim, or right with respect to anything of value, whether real or personal, tangible or intangible.
(J) "Purposely" has the same meaning as in section 2901.22 of the Revised Code.
(K) "Structure a transaction" means dividing a transaction that otherwise would be reportable under this chapter into two or more transactions that, if considered separately, would not be reportable.
(L) "Transaction" includes a purchase, sale, trade, loan, pledge, investment, gift, transfer, transmission, delivery, deposit, withdrawal, payment, transfer between accounts, exchange of currency, extension of credit, purchase or sale of a payment instrument, use of a safe deposit box, or any other acquisition or disposition of property.
(M) "Transmitting money" includes the transmission of money by any means, including transmissions within the United States or to or from locations outside the United States by payment instrument, wire, facsimile or electronic transfer, or courier.
(N) "Travelers check" means an instrument identified as a travelers check on its face or commonly recognized as a travelers check and issued in a money multiple of United States or foreign currency with a provision for a specimen signature of the purchaser to be completed at the time of purchase and a countersignature of the purchaser to be completed at the time of negotiation.
(O) "Unlawful activity" means an act that is a criminal offense in the state in which the act is committed and, if the act is committed in a state other than this state, would be a criminal offense if committed in this state.

Structure Ohio Revised Code

Ohio Revised Code

Title 13 | Commercial Transactions

Chapter 1315 | Transmitters of Money; Check-Cashing Businesses

Section 1315.01 | Transmitters of Money Definitions.

Section 1315.02 | Recipient of Money to Be Licensed or Authorized.

Section 1315.03 | Application for Money Transmitter License - Confidentiality.

Section 1315.04 | Determination on Application - Conditional Approval.

Section 1315.05 | Continuing Duties of Licensees.

Section 1315.06 | Minimum Amount of Permissible Investments.

Section 1315.07 | Satisfactory Security Device Maintained.

Section 1315.08 | Quarterly Reports - Annual Financial Statements.

Section 1315.081 | Written Report of Specified Events.

Section 1315.09 | Records Required to Be Kept.

Section 1315.10 | Application for Approval of Control Acquisition.

Section 1315.101 | Approval of Application for Control Acquisition.

Section 1315.11 | Conduct of Activities Through Authorized Delegate.

Section 1315.12 | Examination of Records and Affairs of Licensee.

Section 1315.121 | Administrative Powers of Superintendent.

Section 1315.122 | Examination Information Privileged and Confidential.

Section 1315.13 | Superintendent to Establish Fees.

Section 1315.14 | Implementing Rules.

Section 1315.141 | Criminal Records Check to Be Requested by Superintendent.

Section 1315.15 | Notice of Charges - Cease and Desist Order.

Section 1315.151 | Suspension or Revocation of License.

Section 1315.152 | Civil Penalties for Violation or Breach.

Section 1315.153 | Injunctive Relief for Violation of Rc 1315.02.

Section 1315.16 | Enforcement Powers of Superintendent.

Section 1315.161 | Service of Notice, Subpoena, or Order.

Section 1315.17 | Administrative Hearing - Judicial Review - Enforcement of Order.

Section 1315.18 | Termination of Business - Approval of Plan - Implementation.

Section 1315.21 | Check-Cashing Businesses Definitions.

Section 1315.22 | Application for License to Operate Check-Cashing Business.

Section 1315.23 | Investigation of Applicant for License - Issuance or Renewal of License - Hearing Prior to Suspension, Revocation or Refusal of License.

Section 1315.24 | Investigation of Violations - Hearings - Injunctive Relief.

Section 1315.25 | Conditions for Deposit of Checks Into Financial Institution.

Section 1315.26 | Limitations on Fees and Charges.

Section 1315.27 | Rules.

Section 1315.28 | Prohibited Acts - Damages for Violation.

Section 1315.30 | State to Solely Regulate Check-Cashing Business.

Section 1315.51 | Transaction Reporting, Money Laundering Definitions.

Section 1315.52 | Liberal Construction of Statutes.

Section 1315.53 | Reporting Transactions - Records.

Section 1315.54 | Investigations.

Section 1315.55 | Additional Prohibited Activities.

Section 1315.99 | Penalty.