Ohio § 1321.422
Full text of Ohio Ohio Revised Code § 1321.422, with citation guidance and answers to common questions.
§ 1321.422.
(A) Every licensee shall keep and use in the licensee's business such books, accounts,
records, and loan documents as will enable the division of financial institutions
to determine whether the licensee is complying with sections 1321.35 to 1321.48 of the Revised Code and with the orders and rules made by the division under those sections. Such books, accounts, records, and loan documents shall be segregated from those
pertaining to transactions that are not subject to sections 1321.35 to 1321.48 of the Revised Code . Every licensee shall preserve the books, accounts, records, and loan documents pertaining
to loans made under sections 1321.35 to 1321.48 of the Revised Code for at least two years after making the final entry on, or final revision of any
loan document relative to, any loan recorded therein. Accounting systems maintained in whole or in part by mechanical or electronic data
processing methods that provide information equivalent to that otherwise required
are acceptable for this purpose. (B)(1) As required by the superintendent of financial institutions, each licensee shall
file with the division each year a report under oath or affirmation, on forms supplied
by the division, concerning the business and operation for the preceding calendar
year. If a licensee has more than one place of business in this state, the licensee shall
furnish a report for each location. (2) The division shall publish annually and make available to the public an analysis
of the information required under division (B)(1) of this section, but the individual
reports shall not be public records and shall not be open to public inspection. The published analysis shall include all of the following: (a) The total number of borrowers, loans, defaulted loans, and charged-off loans and
the total dollar value of the charged-off loans; (b) The average loan size, average contracted and average experienced annual percentage
rate, average charges per loan, total contracted loan charges, and total loan charges
actually paid; (c) The total number of check collection charges and the total dollar value of those
charges; (d) The total number of licensee business locations and the average number of borrowers
per location; (e) Any other nonprivate information determined by the superintendent.
Frequently Asked Questions About Ohio § 1321.422
What does Ohio Revised Code § 1321.422 cover?
Section 1321.422 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 § 1321.422?
A common citation format is "Ohio Revised Code § 1321.422" (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 § 1321.422 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.