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2018 Ohio Revised Code
Title [13] XIII COMMERCIAL TRANSACTIONS - OHIO UNIFORM COMMERCIAL CODE
Chapter 1321 - SMALL LOANS
Section 1321.391 - [See Note] Duration longer than 91 days; determination of recommended length.
Universal Citation: Ohio Rev Code § 1321.391 (2018)
If the duration of a short-term loan is ninety-one days or greater, the licensee shall determine the recommended length of a loan based on the borrower's verified monthly income as described in division (B)(2) of section 1321.39 of the Revised Code. The licensee shall provide the borrower with a written copy of its recommendation, which is not binding on the borrower.
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.
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