Ohio § 1733.53
Full text of Ohio Ohio Revised Code § 1733.53, with citation guidance and answers to common questions.
§ 1733.53.
(A) As used in this section, “ bona fide error ” means an unintentional clerical, calculation, computer malfunction or programming,
or printing error. (B) A credit union or regulated individual shall not be held civilly liable in any action
brought under this chapter or Chapter 1309., 1317., or 1345. of the Revised Code,
and shall not be subject to any sanction by the superintendent of financial institutions,
if all of the following conditions are met: (1) The credit union or individual shows by a preponderance of evidence that the compliance
failure was not intentional and resulted from a bona fide error notwithstanding the
maintenance of procedures reasonably adapted to avoid any such error. (2) Within sixty days after discovering the error, and prior to the initiation of any
action by the superintendent or the receipt of written notice of the error from the
member, the credit union or individual notifies the superintendent and the member
of the error and the manner in which the credit union or individual intends to make
full restitution to the member. (3) The credit union or individual promptly makes reasonable restitution to the member. (C) If, in the event of a compliance failure, the credit union or regulated individual
does not meet the conditions set forth in division (B) of this section, a member injured
by the error has a cause of action to recover damages. Such an action may not, however, be maintained as a class action.
Frequently Asked Questions About Ohio § 1733.53
What does Ohio Revised Code § 1733.53 cover?
Section 1733.53 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 § 1733.53?
A common citation format is "Ohio Revised Code § 1733.53" (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 § 1733.53 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.