Ohio § 1733.326
Full text of Ohio Ohio Revised Code § 1733.326, with citation guidance and answers to common questions.
§ 1733.326.
If a credit union or regulated individual fails to comply with any agreement concluded,
or final or summary cease-and-desist order issued, under section 1733.324 or 1733.325 of the Revised Code , the superintendent may order the credit union or regulated individual to forfeit
and pay a civil penalty in an amount fixed by the superintendent. The amount of the penalty shall be not more than ten thousand dollars for each day
the noncompliance continues. In fixing the amount of a civil penalty, the superintendent shall consider all of
the following factors: (A) The seriousness of the noncompliance and the gravity of the risk occasioned by the
noncompliance; (B) The good faith efforts made by the credit union or regulated individual to perform
his or its obligations under or otherwise to comply with the order; (C) The history of previous violations or unsafe or unsound practices by the credit union
or regulated individual that resulted in the service of a notice under division (A)(1) of section 1733.324 of the Revised Code ; (D) The financial resources of the credit union or regulated individual against whom
the penalty is being assessed; (E) Any other matters as justice may require. If a credit union or regulated individual fails to pay a forfeiture assessed under
this section, the superintendent shall bring a civil action to collect the forfeiture. A regulated individual is personally liable for the payment of any civil penalty that
is assessed against him under this section. No credit union that employs a regulated individual, or of which a regulated individual
is a director or officer shall pay, or cause to be paid, on behalf of the regulated
individual, or indemnify or otherwise reimburse the regulated individual for paying,
any civil penalty that has been assessed against that regulated individual.
Frequently Asked Questions About Ohio § 1733.326
What does Ohio Revised Code § 1733.326 cover?
Section 1733.326 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 § 1733.326?
A common citation format is "Ohio Revised Code § 1733.326" (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 § 1733.326 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.