Ohio § 1321.403 Short-term loan fee cap; exceptions

Ohio Statutes

§ 1321.403 — Short-term loan fee cap; exceptions

Ohio § 1321.403

Title 13Commercial Transactions

Ch. 1321Various Loans

This text of Ohio § 1321.403 (Short-term loan fee cap; exceptions) 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. § 1321.403 (2026).

Text

Notwithstanding any provision of sections1321.35to1321.48of the Revised Code to the contrary, a licensee shall not charge, collect, or receive in connection with a short-term loan a total amount of fees and charges that exceeds sixty per cent of the originally contracted loan amount. For purposes of this section, all charges made in connection with the loan shall be included when calculating the total loan charges except for all of the following:

(A)The check collection charge authorized under section1321.40of the Revised Code;

(B)The check cashing fee authorized under section1321.40of the Revised Code;

(C)The interest charges on a loan that is refinanced in accordance with section1321.401of the Revised Code. Last updated November 4, 2021 at 4:09 PM

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Notwithstanding any provision of sections1321.35to1321.48of the Revised Code to the contrary, a licensee shall not charge, collect, or receive in connection with a short-term loan a total amount of fees and charges that exceeds sixty per cent of the originally contracted loan amount. For purposes of this section, all charges made in connection with the loan shall be included when calculating the total loan charges except for all of the following:

(A) The check collection charge authorized under section1321.40of the Revised Code;

(B) The check cashing fee authorized under section1321.40of the Revised Code;

(C) The interest charges on a loan that is refinanced in accordance with section1321.401of the Revised Code.

Last updated November 4, 2021 at 4:09 PM