Effective: October 29, 2018
Latest Legislation: House Bill 123 - 132nd General Assembly
No credit services organization shall sell, provide, or perform any of the services authorized under division (C)(1) of section 4712.01 of the Revised Code in connection with an extension of credit that meets any of the following conditions:
(A) The amount of credit is less than five thousand dollars.
(B) The repayment term is one year or less.
(C) The annual percentage rate exceeds twenty-eight per cent. For purposes of this division, "annual percentage rate" has the same meaning as in the "Truth in Lending Act," 82 Stat. 149 (1980), 15 U.S.C. 1606, as implemented by regulations of the consumer financial protection bureau.
Structure Ohio Revised Code
Title 47 | Occupations-Professions
Chapter 4712 | Ohio Credit Services Organization Act
Section 4712.01 | Credit Services Organization Act Definitions.
Section 4712.02 | Certificate of Registration.
Section 4712.03 | Suspension, Revocation or Refusal of Certificate of Registration.
Section 4712.04 | Providing Buyer With Written Statement of Rights.
Section 4712.05 | Contents and Execution of Contract.
Section 4712.06 | Surety Bond.
Section 4712.07 | Prohibited Acts.
Section 4712.071 | Prohibited Extensions of Credit.
Section 4712.08 | Prohibiting Fraudulent Activities.
Section 4712.09 | Waiving Rights.
Section 4712.10 | Action for Recovery of Damages.
Section 4712.11 | Violating Consumer Sales Practices Act.
Section 4712.12 | Investigating Violations - Injunctions.
Section 4712.13 | Disclosing Certificate of Registration Number.
Section 4712.14 | Administrative Rules.
Section 4712.15 | Compliance With Law Regarding Sanctions for Human Trafficking.