Ohio § 1321.71
Full text of Ohio Ohio Revised Code § 1321.71, with citation guidance and answers to common questions.
§ 1321.71.
As used in sections 1321.71 to 1321.83 of the Revised Code : (A) “ Annual percentage rate ” means the ratio of the finance charges, as authorized by sections 1321.79 and 1321.791 of the Revised Code , on a loan to the unpaid principal balance on the loan for any period of time, expressed
on an annual basis. (B) “Insurance premium finance company” or “ premium finance company ” means a person engaged in the business of entering into or otherwise acquiring premium
finance agreements. (C) “ Person ” means any individual, partnership, association, trust, corporation, or other legal
entity. (D) “ Premium finance agreement ” means an agreement by which an insured or prospective insured promises to pay a
premium finance company the amount advanced or to be advanced under the agreement
to an insurer or to an insurance agent or broker in payment of premiums on an insurance
contract together with a finance charge as authorized and limited by sections 1321.71 to 1321.83 of the Revised Code . (E) “ License ” means a license issued by the division of financial institutions under sections 1321.71 to 1321.83 of the Revised Code . (F) “ Licensee ” means a premium finance company holding a license. (G) “ Superintendent of financial institutions ” includes the deputy superintendent for consumer finance as provided in section 1181.21 of the Revised Code .
Frequently Asked Questions About Ohio § 1321.71
What does Ohio Revised Code § 1321.71 cover?
Section 1321.71 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 § 1321.71?
A common citation format is "Ohio Revised Code § 1321.71" (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 § 1321.71 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.