Ohio § 1321.402
Full text of Ohio Ohio Revised Code § 1321.402, with citation guidance and answers to common questions.
§ 1321.402.
If a short-term loan is prepaid in full or refinanced prior to the loan's maturity
date, the licensee shall refund to the borrower a prorated portion of the interest,
monthly maintenance fees, and all other charges based on a ratio of the number of
days the loan was outstanding and the number of days for which the loan was originally
contracted. For purposes of this section, the monthly maintenance fee is not considered to be
fully earned at the beginning of a month.
Frequently Asked Questions About Ohio § 1321.402
What does Ohio Revised Code § 1321.402 cover?
Section 1321.402 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 § 1321.402?
A common citation format is "Ohio Revised Code § 1321.402" (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 § 1321.402 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.