Ohio § 1317.062
Full text of Ohio Ohio Revised Code § 1317.062, with citation guidance and answers to common questions.
§ 1317.062.
(A)(1) As an alternative to the delinquent charges permitted in division (B) of section 1317.06 and division (B) of section 1317.11 of the Revised Code , a retail seller or holder may contract for and receive delinquent charges in any
amount agreed upon or consented to by the parties to the retail installment contract
or revolving budget agreement. (2) Each retail installment contract and revolving budget agreement permitting delinquent
charges in accordance with division (A)(1) of this section shall contain a statement
that clearly and concisely informs the consumer of the amount of the delinquent charges
and the conditions under which the delinquent charges will be charged. (B) A retail seller or holder may contract with a retail buyer for and receive check
collection charges for each check or other negotiable instrument that is issued as
payment on the retail installment contract or revolving budget agreement and that
is returned or dishonored for any reason. (C) Any charges that are contracted for and received by a retail seller or holder as
permitted by this section shall not be included in the computation of the annual percentage
rate or rates of interest or finance charges for purposes of determining whether the
maximum annual percentage rate or maximum rate or rates of interest or finance charges
authorized under sections 1317.06 , 1317.061 , and 1317.11 of the Revised Code have been exceeded.
Frequently Asked Questions About Ohio § 1317.062
What does Ohio Revised Code § 1317.062 cover?
Section 1317.062 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 1317.062?
A common citation format is "Ohio Revised Code § 1317.062" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1317.062 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.