Current with legislation from 2024 received as of July 15, 2024.
Section 1321.592 - [See Note] Prohibited general loans by registrants(A) A registrant shall not make a loan under sections 1321.51 to 1321.60 of the Revised Code that meets either of the following conditions: (1) The amount of the loan is one thousand dollars or less.(2) The loan has a duration of one year or less.(B) A registrant shall not engage in any act or practice to evade the requirement of division (A) of this section, including by contracting with a borrower to make a loan on terms that would be prohibited by that division.(C) No registrant shall fail to comply with this section.Amended by 132nd General Assembly File No. TBD, 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.