Ohio § 1315.15

§ 1315.15.

(A) The superintendent of financial institutions may issue and serve a notice of charges

and intent to issue a cease and desist order upon a licensee or other person if, in

the opinion of the superintendent, either of the following applies to the licensee

or other person: (1) The licensee or other person is engaging, has engaged, or, the superintendent has

reasonable cause to believe, is about to engage in an unsafe or unsound practice in

conducting the business of transmitting money. (2) The licensee or other person is violating, has violated, or, the superintendent has

reasonable cause to believe, is about to violate any of the following: (a) A law or rule; (b) A condition imposed in writing by the superintendent in connection with granting

an application or other request by the licensee or other person; (c) A written agreement entered into with the superintendent. (B) The notice of charges and intent to issue a cease and desist order described in division

(A) of this section shall include all of the following: (1) A statement of the violation or violations or unsafe or unsound practice or practices

alleged; (2) A statement of the facts constituting the violation or violations or unsafe or unsound

practice or practices alleged; (3) Notice that the licensee or other person is entitled to a hearing, in accordance

with section 1315.17 of the Revised Code , to determine whether a cease and desist order should be issued against the licensee

or other person, if the licensee or other person requests the hearing within thirty

days of service of the notice; (4) Notice that, if the licensee or other person makes a timely request for a hearing,

the licensee or other person may appear at the hearing in person or by attorney or

by presenting positions, arguments, and contentions in writing, and at the hearing

may present evidence and examine witnesses for and against the licensee or other person. (5) Notice that failure of the licensee or other person to make a timely request for

a hearing to determine whether a cease and desist order should be issued or to appear

at the hearing, in person, by attorney, or by writing, is consent by the licensee

or other person to the issuance of the cease and desist order. (C) The superintendent may issue a cease and desist order against the licensee or other

person if any of the following applies: (1) The licensee or other person consents to the issuance of the cease and desist order. (2) Upon the record of the hearing described in division (B) of this section, the superintendent

finds that a violation or unsafe or unsound practice has been established. (3) The superintendent determines that the licensee's or other person's books and records

are too incomplete or inaccurate to permit the superintendent, through the normal

supervisory process, to determine the financial condition of the licensee or other

person or the details or purpose of one or more transactions that may have a material

effect on the financial condition of the licensee or other person. (4) The superintendent finds that the violation or unsafe or unsound practice alleged

in division (B) of this section is likely, prior to completion of the hearing described

in that division, to cause any of the following: (a) The licensee's or other person's insolvency; (b) Significant dissipation of the licensee's or other person's earnings or assets; (c) Weakening of the licensee's or other person's condition or other prejudice to the

interests of the licensee's or other person's customers. (D) A cease and desist order may require the licensee or other person to cease and desist

from each violation or unsafe or unsound practice, to correct or remedy the conditions

resulting from each violation or unsafe or unsound practice, and to take affirmative

action, including any of the following: (1) Make restitution or provide reimbursement, indemnification, or guarantee against

loss, if either of the following applies: (a) The licensee or other person was or will be unjustly enriched in connection with

the violation or practice. (b) The violation or practice involved a reckless disregard for the law or any applicable

rule or prior order of the superintendent. (2) Restrict the licensee's or other person's growth; (3) Dispose of any loan or asset involved; (4) Rescind agreements or contracts; (5) Employ qualified officers or employees, who may be subject to approval by the superintendent; (6) Take any other action that the superintendent determines appropriate. (E) A cease and desist order issued by the superintendent pursuant to division (C) of

this section is effective at the time specified in the order, which shall be as follows: (1) In the case of a cease and desist order issued pursuant to division (C)(2) of this

section, not less than thirty days after service of the order upon the licensee or

other person; (2) In the case of a cease and desist order issued pursuant to division (C)(1), (3),

or (4) of this section, immediately upon service of the order on the licensee or other

person. (F) A cease and desist order shall remain effective and enforceable as provided in the

order except to the extent it is stayed, modified, terminated, or set aside by action

of the superintendent or a reviewing court.  If, upon the record of a hearing, the superintendent determines not to issue a cease

and desist order, any cease and desist order issued pursuant to division (C)(3) or

(4) of this section is terminated. (G) Within ten days after being served a cease and desist order issued pursuant to division

(C)(3) or (4) of this section, a licensee or other person may apply to the court of

common pleas of the county in which the principal place of business of the licensee

or other person is located, or to the court of common pleas of Franklin county, for

an injunction setting aside, limiting, or suspending the enforcement, operation, or

effectiveness of the cease and desist order pending completion of the hearing to determine

whether a cease and desist order should be issued against the licensee or other person

pursuant to division (C)(2) of this section, and the court has jurisdiction to issue

the injunction.