Ohio § 1322.12
Full text of Ohio Ohio Revised Code § 1322.12, with citation guidance and answers to common questions.
§ 1322.12.
(A) Each registrant or entity holding a valid letter of exemption under division (B)(1) of section 1322.05 of the Revised Code shall designate an employee or owner of that registrant's business as the operations
manager. The operations manager shall be responsible for the management, supervision, and
control of a particular registrant. (B) To be eligible for such a designation, an employee or owner shall have at least three
years of experience in the residential mortgage and lending field including experience
as a mortgage loan originator, registered mortgage loan originator, or other experience
related to the business of residential mortgage lending that the superintendent determines
is sufficient. While acting as the operations manager, the employee or owner shall be licensed
as a mortgage loan originator under this chapter and shall not be employed by any
other mortgage lender, mortgage broker, or mortgage servicer. (C) If the person designated as the operations manager pursuant to this section ceases
to be the operations manager, the registrant shall do all of the following: (1) Within ninety days after the person ceases to be the operations manager, designate
another person as the operations manager; (2) Within ten days after the designation described in division (C)(1) of this section,
notify the superintendent in writing of the new designation; (3) Submit any additional information that the superintendent requires to establish that
the newly designated operations manager meets the requirements set forth in this section. (D) The registrant shall cease operations if it is without an operations manager approved
by the superintendent for more than one hundred eighty days unless otherwise authorized
in writing by the superintendent due to exigent circumstances.
Frequently Asked Questions About Ohio § 1322.12
What does Ohio Revised Code § 1322.12 cover?
Section 1322.12 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 § 1322.12?
A common citation format is "Ohio Revised Code § 1322.12" (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 § 1322.12 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.