Any licensee or other one who willfully violates part 1321.13 for the Revised Code shall forfeit to your debtor twice the actual quantity of interest contracted for. The maximum interest rate relevant to virtually any loan deal that will not conform to all conditions of area 1321.13 associated with Revised Code shall function as the rate that might be relevant when you look at the lack of parts 1321.01 to 1321.19 for the Revised Code.
No licensee shall pledge or hypothecate any note or protection written by any debtor except with a person residing or maintaining bar or nightclub in this state or having a bank authorized to transact company in this state, under an understanding allowing the unit of banking institutions to examine the documents therefore hypothecated.
The tender because of the debtor, or in the debtor’s demand, of a sum add up to the balance that is unpaid the necessary rebate on a precomputed loan will probably be accepted because of the licensee in complete re re payment associated with loan responsibility.
A licensee shall perhaps perhaps not, directly or indirectly, make any re payment, or cause to be made any re payment, whether in money or elsewhere, to a dealer in concrete products or solutions, or to a retail vendor as defined in area 1317.01 for the Revised Code, associated with the creating of that loan to a client, patron, or other one who has been doing, or perhaps is doing, company utilizing the dealer in tangible items or solutions, or perhaps the retail vendor.