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2020 Ohio Revised Code
Title 13 | Commercial Transactions
Chapter 1321 | Small Loans
Section 1321.56 | Forfeiting Interest.
Universal Citation: Ohio Rev Code § 1321.56 (2020)
Effective: June 13, 1996
Latest Legislation: Senate Bill 189 - 121st General Assembly
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.
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