Ohio § 1733.251 Alternative interest rate

Ohio Statutes

§ 1733.251 — Alternative interest rate

Ohio § 1733.251

Title 17Corporations-Partnerships

Ch. 1733Credit Unions

This text of Ohio § 1733.251 (Alternative interest rate) 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. § 1733.251 (2026).

Text

(A)As an alternative to the interest permitted in division (C) of section1733.25of the Revised Code, a credit union may contract for and receive interest at any rate or rates agreed upon or consented to by the parties to the contract for the loan or other extension of credit, but not exceeding an annual percentage rate of twenty-five per cent.

(B)The computation of the loan or other extension of credit balance on which interest is assessed and the method of compounding interest on the balance pursuant to this section shall be as agreed upon by the credit union and the member.

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(A) As an alternative to the interest permitted in division (C) of section1733.25of the Revised Code, a credit union may contract for and receive interest at any rate or rates agreed upon or consented to by the parties to the contract for the loan or other extension of credit, but not exceeding an annual percentage rate of twenty-five per cent.

(B) The computation of the loan or other extension of credit balance on which interest is assessed and the method of compounding interest on the balance pursuant to this section shall be as agreed upon by the credit union and the member.