Ohio Rev. Code § 1321.401

Current with legislation from 2024 received as of August 15, 2024.

Section 1321.401 - [See Note] Refinancing short-term loans

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) The licensee does not charge, collect, or receive the monthly maintenance fee described in division (B) of section 1321.40 of the Revised Code.

R.C. § 1321.401

Amended by 132nd General Assembly, HB 123,§1, eff. 10/29/2018, applicable to loans that are made, or extensions of credit that are obtained, on or after a date that is 180 days after the effective date of this act.