Ohio § 1321.35 Short-term Loan Law definitions

Ohio Statutes

§ 1321.35 — Short-term Loan Law definitions

Ohio § 1321.35

Title 13Commercial Transactions

Ch. 1321Various Loans

This text of Ohio § 1321.35 (Short-term Loan Law definitions) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 1321.35 (2026).

Text

As used in sections1321.35to1321.48of the Revised Code:

(A)"Short-term loan" means a loan made pursuant to sections1321.35to1321.48of the Revised Code.

(B)"Superintendent of financial institutions" includes the deputy superintendent for consumer finance as provided in section1181.21of the Revised Code.

(C)"Interest" means all charges payable directly or indirectly by a borrower to a licensee as a condition to a loan, including fees, service charges, renewal charges, and any ancillary product sold in connection with a short-term loan, but does not include the monthly maintenance fees, the loan origination charge, the check collection charge, or the check cashing fee authorized under section1321.40of the Revised Code.

(D)"Annual percentage rate" has the same meaning as in the "Truth

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As used in sections1321.35to1321.48of the Revised Code:

(A) "Short-term loan" means a loan made pursuant to sections1321.35to1321.48of the Revised Code.

(B) "Superintendent of financial institutions" includes the deputy superintendent for consumer finance as provided in section1181.21of the Revised Code.

(C) "Interest" means all charges payable directly or indirectly by a borrower to a licensee as a condition to a loan, including fees, service charges, renewal charges, and any ancillary product sold in connection with a short-term loan, but does not include the monthly maintenance fees, the loan origination charge, the check collection charge, or the check cashing fee authorized under section1321.40of the Revised Code.

(D) "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. All fees and charges, including interest and the loan origination charge and monthly maintenance fees authorized under section1321.40of the Revised Code, shall be included in the computation of the annual percentage rate.

(E) "Licensee" means a person licensed to make short-term loans under sections1321.35to1321.48of the Revised Code.

Last updated November 4, 2021 at 3:56 PM