Licensees; prohibited tasks.
(A) Assess an origination cost pursuant to part 1321.68 regarding the Revised Code significantly more than three times in just about any twelve-month duration;
(B) Accept a dated instrument from the debtor as safety for the loan;
(C) Hold a musical instrument for a period ahead of negotiation or deposit associated with the instrument;
(D) Pay to a debtor, credit to a debtor’s account, or spend to some other person in the borrower’s behalf the quantity of an tool, less interest, charges, or every other charges allowed by area 1321.68 for the Revised Code;
( ag E) Refinance the mortgage through the first a hundred twenty times of the mortgage term;
(F) with the exception of the deferment cost allowed by part 1321.68 for the Revised Code, fee or gather any cost, cost, or remuneration of every sort for renewing, amending, or expanding that loan beyond its initial term.
1321.64 Application; contents; filing; investigation; notice of intent to reject.
(A) a credit card applicatoin for a permit shall include an undertaking by the applicant to comply with those sections. The applying will be written down, under oath, plus in the proper execution recommended because of the superintendent of finance institutions, and shall include any information that the superintendent might need. Applicants which can be international corporations shall get and continue maintaining a permit pursuant to Chapter 1703. associated with the Revised Code before a permit is given or renewed.
(B) Upon the filing regarding the application in addition to re payment by the applicant of the nonrefundable research charge of $ 200, a nonrefundable yearly enrollment charge of 3 hundred bucks, and any extra cost required by the NMLSR. the unit of finance institutions shall investigate the appropriate facts. (more…)