Ohio § 4727.07
Full text of Ohio Ohio Revised Code § 4727.07, with citation guidance and answers to common questions.
§ 4727.07.
Every pawnbroker shall give to the pledgor or seller a statement upon which shall
be legibly written in ink, printed, or typed, the name and address of the licensee
making the loan or purchase, the amount of the loan or purchase price, the rate of
interest, the time and date when the loan is made, or goods sold, and the date when
payable; and also shall give the pledgor a receipt for each payment of principal,
storage charge, or interest. All moneys received for any loan shall first be applied to any interest and storage
charge on a loan, and any remaining moneys shall then be applied to the amount of
unpaid principal of the loan existing on the date on which the moneys are received. The statement also shall contain a full and accurate description of the articles
pledged or sold, including any serial and model numbers or identifying marks thereon. In the case of pawn loans, the statement shall contain a full disclosure of all
charges for storage, and on the back of the receipt shall be printed in type a copy
of section 4727.06 of the Revised Code . The licensee shall retain a copy of the statement for two years from the date of
the last entry of the loan or purchase account. Every statement shall be numbered and maintained consecutively, commencing with
the number “one,” but the licensee may maintain statements in an active and inactive
file.
Frequently Asked Questions About Ohio § 4727.07
What does Ohio Revised Code § 4727.07 cover?
Section 4727.07 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 § 4727.07?
A common citation format is "Ohio Revised Code § 4727.07" (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 § 4727.07 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.