Ohio § 1321.56 Forfeiting general loan interest for interest rate violation

Ohio Statutes

§ 1321.56 — Forfeiting general loan interest for interest rate violation

Ohio § 1321.56

Title 13Commercial Transactions

Ch. 1321Various Loans

This text of Ohio § 1321.56 (Forfeiting general loan interest for interest rate violation) 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. § 1321.56 (2026).

Text

Any person who willfully violates section1321.57of 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 section1321.57of the Revised Code shall be the rate that would be applicable in the absence of sections1321.51to1321.60of the Revised Code.

Last updated November 5, 2021 at 3:46 PM

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Any person who willfully violates section1321.57of 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 section1321.57of the Revised Code shall be the rate that would be applicable in the absence of sections1321.51to1321.60of the Revised Code.

Last updated November 5, 2021 at 3:46 PM