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Ohio Rev. Code Ann. § 1321.671

Repayment of consumer installment loan

Effective: September 12, 2017; Latest Legislation: Senate Bill 24 - 132nd General Assembly

(A) Upon repayment of the loan in full, the original note signed by any obligor or copy, photograph, or stored representation of the original note as retained in accordance with section 1321.66 of the Revised Code shall be plainly marked "paid" or "canceled" and the note or the reproduction of the note shall be returned to the obligor or, if there are two or more obligors, to one of them.

(B) If requested, the licensee shall give to the borrower a receipt for each payment made on account of any interest- bearing or precomputed loan.

Last updated November 5, 2021 at 5:38 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.