In respect with Chapter 119. associated with the Revised Code:
(A) The division of banking institutions may adopt guidelines in addition to superintendent of finance institutions may issue certain sales for the enforcement of parts 1321.01 to 1321.19 associated with Revised Code. Every ruling, need, requirement, and comparable act that is administrative be in the shape of a written purchase.
Every guideline and purchase will be a general public record. After promulgation, a duplicate of any guideline will be mailed to any or all licensees.(B) The unit may, whenever it’s reasonable cause to genuinely believe that anyone has violated, is breaking, or perhaps is threatening to or promises to break sections 1321.01 to 1321.19 associated with Revised Code, enter a purchase requiring anyone to desist or even to try to avoid such breach; as well as an action can be brought regarding the connection associated with the superintendent to enjoin the individual from continuing or participating in such breach or from doing any functions in furtherance thereof. Such action will be carried out underneath the supervision and direction associated with attorney general. In virtually any such action, an purchase or judgment might 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 capabilities and duties as to custody, collection, management, winding up, and liquidation associated with the home and company because could be conferred upon the receiver by the court.
(C) Upon application of any individual, the division may certify, underneath the seal for the superintendent, a declaration in accordance with any matter this is the topic of general general public assessment and disclosure. The division may likewise furnish underneath the seal for the superintendent a professional content of every purchase released because of the unit, as well as in any court such certified statements and such certified copies are prima-facie proof of the facts disclosed therein or of this generating of these purchase.
Prohibited statements and representations.
No licensee or any other person susceptible to parts 1321.01 to 1321.19 regarding the Revised Code shall advertise, show, distribute, or broadcast or cause or permit to be marketed, exhibited, distributed, or broadcast, any false, deceptive, or misleading declaration or representation pertaining to the prices, terms, or conditions for loans made under those parts. The unit of banking institutions shall require that fees or rates of fee, whenever stated with a licensee, fully be stated and obviously such manner as could be considered required to avoid misunderstanding thereof by potential borrowers.
Licensee prohibited from specific functions.
No licensee shall conduct the continuing company of earning loans under parts 1321.01 to 1321.19 regarding the Revised Code, within any workplace, room, or office by which virtually any 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 business is of these nature that such conduct has a tendency to conceal evasion of these sections or for the guidelines made under those parts and purchases 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 associated with the Revised Code, under some other title, or at just about any office in this particular state than that named within the permit.
No licensee shall simply take a lien upon real-estate as safety for almost any loan made under those parts except such lien as it is produced upon the filing or recording of a certification of judgment.