Short-term loan collection limitations
Effective: October 29, 2018; Latest Legislation: House Bill 123 - 132nd General Assembly
A licensee shall not attempt to collect from a borrower's account after two consecutive attempts have failed, unless the licensee obtains new written authorization from the borrower to electronically transfer or withdraw funds from the borrower's account.
Last updated November 5, 2021 at 5:31 PM
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.