1321.56. Forfeiture of interest.
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§ 1321.56. Forfeiture of interest.
Any person who willfully violates
section 1321.57 of the Revised Code shall forfeit to the borrower the amount of interest paid by the borrower. The maximum rate of interest applicable to any loan transaction that does not comply with
section 1321.57 of the Revised Code shall be the rate that would be applicable in the absence of
sections 1321.51 to
1321.60 of the Revised Code.
HISTORY: 131 v 442 (Eff 11-1-65); 146 v S 189. Eff 6-13-96.