Ohio § 4712.071 Prohibited extensions of credit

Ohio Statutes

§ 4712.071 — Prohibited extensions of credit

Ohio § 4712.071

Title 47Occupations-Professions

Ch. 4712Ohio Credit Services Organization Act

This text of Ohio § 4712.071 (Prohibited extensions of credit) 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. § 4712.071 (2026).

Text

No credit services organization shall sell, provide, or perform any of the services authorized under division (C)(1) of section4712.01of the Revised Code in connection with an extension of credit that meets any of the following conditions:

(A)The amount of credit is less than five thousand dollars.

(B)The repayment term is one year or less.

(C)The annual percentage rate exceeds twenty-eight per cent. For purposes of this division, "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.

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No credit services organization shall sell, provide, or perform any of the services authorized under division (C)(1) of section4712.01of the Revised Code in connection with an extension of credit that meets any of the following conditions:

(A) The amount of credit is less than five thousand dollars.

(B) The repayment term is one year or less.

(C) The annual percentage rate exceeds twenty-eight per cent. For purposes of this division, "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.