Ohio § 4712.06
Full text of Ohio Ohio Revised Code § 4712.06, with citation guidance and answers to common questions.
§ 4712.06.
(A) No credit services organization shall conduct business in this state unless the organization
has obtained a surety bond issued by a surety company authorized to do business in
this state and all of the following conditions are met: (1) A copy of the bond is filed with the division of financial institutions. (2) The bond is in favor of any person, and of the state for the benefit of any person,
that is injured by any violation of sections 4712.01 to 4712.14 of the Revised Code . (3) The bond is in the amount of fifty thousand dollars. (4) The bond is maintained and in effect for at least two years after the date on which
the credit services organization ceases to conduct business in this state. (B) Any person claiming against the bond for a violation of sections 4712.01 to 4712.14 of the Revised Code may maintain an action at law against the credit services organization and against
the surety company. However, the surety company is liable only for damages awarded under division (A)(2) of section 4712.10 of the Revised Code and not for punitive damages awarded under division (A)(3) of section 4712.10 of the Revised Code . The aggregate liability of the surety company to all persons injured by a credit
services organization's violation of sections 4712.01 to 4712.14 of the Revised Code shall not exceed the amount of the bond.
Frequently Asked Questions About Ohio § 4712.06
What does Ohio Revised Code § 4712.06 cover?
Section 4712.06 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 § 4712.06?
A common citation format is "Ohio Revised Code § 4712.06" (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 § 4712.06 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.