Ohio § 1355.01
Full text of Ohio Ohio Revised Code § 1355.01, with citation guidance and answers to common questions.
§ 1355.01.
As used in this chapter: (A) “ Applicable agency ” means a department or agency of the state to which both of the following apply: (1) It is authorized to regulate certain types of business activity in this state and
persons engaged in such business, including the issuance of licenses or other types
of authorization. (2) The superintendent of financial institutions determines the department or agency
would regulate a sandbox participant if the person were not a sandbox participant. (B) “ Consumer ” means a person that obtains, from a sandbox participant, a novel financial product
or service that is to be used primarily for personal, family, household, or business
purposes. “ Consumer ” includes a legal representative of the person. (C) “ Financial product or service ” means a product or service that requires licensure or other authorization under,
or that includes a business model, delivery mechanism, or element that requires a
license or other authorization to act as a financial institution or other person that
is regulated by, Title XI or Chapter 1315., 1321., 1322., 1733., 4712., 4727., or
4728. of the Revised Code. “Financial product or service” does not include a product or service that requires
licensure under, or that includes a business model, delivery mechanism, or element
that requires a license to act as a person regulated by, Chapter 1707. of the Revised
Code. (D) “ Novel financial product or service ” means a financial product or service that makes use of or incorporates new or emerging
technology, or reimagines uses of existing technologies, to address a problem, provide
a benefit, or otherwise offer a product, service, business model, or delivery mechanism
that is not known by the superintendent of financial institutions to have a comparable
widespread offering in this state. (E) “Person” has the same meaning as in section 1.59 of the Revised Code . (F) “ Regulatory sandbox ” means the program established by this chapter under which a person is licensed to
temporarily test a novel financial product or service on a limited basis without otherwise
being licensed or authorized to act under the laws of this state. (G) “ Sandbox participant ” means a person that has been granted a license to test a novel financial product
or service in the regulatory sandbox. (H) “ Test ” means to provide products and services as allowed by this chapter.
Frequently Asked Questions About Ohio § 1355.01
What does Ohio Revised Code § 1355.01 cover?
Section 1355.01 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 § 1355.01?
A common citation format is "Ohio Revised Code § 1355.01" (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 § 1355.01 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.