Ohio § 5721.41
Full text of Ohio Ohio Revised Code § 5721.41, with citation guidance and answers to common questions.
§ 5721.41.
All interest required under sections 5721.30 to 5721.43 of the Revised Code is simple interest, to be calculated on a principal amount and not compounded on
earned interest. The interest charged shall equal one-twelfth of the annual interest rate multiplied
by the principal amount. Interest charges under those sections shall accrue on a monthly basis, on the first
day of the month following the beginning of the period during which interest accrues
and on the first day of each subsequent month. Notwithstanding the preceding sentence, the six per cent charge described in division (E)(1)(b) of section 5721.30 of the Revised Code shall apply even if the tax certificate is redeemed before the first day of the month
following the date that the certificate is purchased.
Frequently Asked Questions About Ohio § 5721.41
What does Ohio Revised Code § 5721.41 cover?
Section 5721.41 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 § 5721.41?
A common citation format is "Ohio Revised Code § 5721.41" (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 § 5721.41 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.