There is a newer version
of
this Section
2020 Ohio Revised Code
Title 47 | Occupations-Professions
Chapter 4712 | Ohio Credit Services Organization Act
Section 4712.071 | Prohibited Extensions of Credit.
Universal Citation: Ohio Rev Code § 4712.071 (2020)
Effective: October 29, 2018
Latest Legislation: House Bill 123 - 132nd General Assembly
No credit services organization shall sell, provide, or perform any of the services authorized under division (C)(1) of section 4712.01 of the Revised Code in connection with an extension of credit that meets any of the following conditions:
(A) The amount of credit is less than five thousand dollars.
(B) The repayment term is one year or less.
(C) The annual percentage rate exceeds twenty-eight per cent. For purposes of this division, "annual percentage rate" has the same meaning as in the "Truth in Lending Act," 82 Stat. 149 (1980), 15 U.S.C. 1606, as implemented by regulations of the consumer financial protection bureau.
Disclaimer: These codes may not be the most recent version. Ohio may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
