Guidelines and purchases – procedure in case there is breach – certified statements – prima-facie proof.

in respect with Chapter 119. associated with Revised Code:

(A) The unit of banking institutions may follow guidelines in addition to superintendent of banking institutions may issue certain requests for the enforcement of parts 1321.01 to 1321.19 regarding the Revised Code. Every ruling, need, requirement, and comparable administrative work may be in the shape of a written purchase. Every guideline and purchase will be a general public record. After promulgation, a duplicate each and every guideline will be mailed to all or any licensees.

(B) The unit may, whenever this has cause that is reasonable think that anybody has violated, is breaking, or perhaps is threatening to or promises to break parts 1321.01 to 1321.19 for the Revised Code, enter an purchase needing the individual to desist or even to keep from such violation; as well as an action are brought from the connection associated with the superintendent to enjoin anyone from continuing or participating in such breach or from doing any acts in furtherance thereof. Such action will probably be carried out beneath the way and guidance for the attorney general. In virtually any such action, an purchase or judgment could be entered awarding such initial or last injunction as is considered appropriate. The court in which such action is brought may impound and appoint a receiver for the property and business of the defendants including books, papers, documents, and records pertaining thereto or so much thereof as the court finds reasonably necessary to prevent further violations of sections 1321.01 to 1321.19 of the Revised Code, through or by means of the use of said property and business in addition to all other means provided for the enforcement of a restraining order or injunction. Such receiver, whenever appointed and qualified, has such abilities and duties as to custody, collection, management, winding up, and liquidation associated with home and company since could be conferred upon the receiver because of the court.

(C) Upon application of any individual, the division may certify, beneath the seal associated with the superintendent, a declaration in accordance with any matter that’s the topic of general public assessment and disclosure. The unit may likewise furnish beneath the seal associated with superintendent a copy that is certified of purchase given because of the unit, as well as in any court such certified statements and such certified copies are prima-facie proof the facts disclosed therein or of this creating of these purchase.

Prohibited statements and representations.

No licensee or any other individual at the mercy of parts 1321.01 to 1321.19 associated with the Revised Code shall advertise, display, distribute, or broadcast or cause or allow to be promoted, shown, distributed, or broadcast, any false, deceptive, or deceptive declaration or representation pertaining to the prices, terms, or conditions for loans made under those parts. The division of banking institutions shall need that costs or prices of fee, whenever stated by way of a licensee, be stated completely and demonstrably such way as could be considered essential to avoid misunderstanding thereof by potential borrowers.

Licensee prohibited from particular acts.

No licensee shall conduct the continuing company of creating loans under parts 1321.01 to 1321.19 associated with the Revised Code, within any workplace, space, or office by which any kind of company is solicited or involved with, or perhaps in relationship or combination therewith, in the event that unit of banking institutions discovers, after hearing, that one other company is of these nature that such conduct has a tendency to conceal evasion of these parts or associated with the rules made under those parts and requests the licensee on paper to desist through the conduct.

No licensee shall conduct the continuing company of creating loans under parts 1321.01 to 1321.19 for the Revised Code, under some other title, or at just about any office through this state than that named within the permit.

No licensee shall simply take a lien upon property as safety for almost any loan made under those parts except such lien as is developed upon the recording or filing of the certificate of judgment.