§ 1321.72 — Application of Insurance Premium Finance Company Law

Ohio § 1321.72

• Jurisdiction: Ohio
• Title 13: Commercial Transactions
• Ch. 1321: Various Loans

Text

Except as provided in division (D) of section1321.78, sections1321.71to1321.83of the Revised Code do not apply with respect to any of the following:

(A) Life, property, or casualty insurance companies authorized to do business in this state as to policies issued by those companies;

(B) The inclusion of a charge for insurance in connection with any installment transaction pursuant to Chapter 1317. of the Revised Code;

(C) The financing of insurance premiums at a rate of interest not exceeding the maximum rate permitted by section1343.01of the Revised Code;

(D) Persons lawfully doing business under the authority of any law of this state, another state, or the United States relating to banks, savings banks, trust companies, savings and loan associations, lenders authorized to make loans pursuant to sections1321.01to1321.19of the Revised Code, lenders authorized to make loans pursuant to sections1321.51to1321.60of the Revised Code, mortgage lenders authorized to make loans under Chapter 1322. of the Revised Code, or any credit union;

(E) Any person who purchases or otherwise acquires a premium finance agreement from a licensee if the licensee remains responsible for collecting payments due under the agreement, and for otherwise servicing the agreement, in compliance with sections1321.71to1321.83of the Revised Code.

Last updated November 5, 2021 at 4:55 PM

Legislative History

Effective: March 23, 2018 | Latest Legislation: House Bill 199 - 132nd General Assembly