Any licensee or any other one who willfully violates part 1321.13 associated with the Revised Code shall forfeit into the debtor twice the quantity of interest contracted for. The maximum rate of interest relevant to virtually any loan deal that will not adhere to all conditions of area 1321.13 of this Revised Code shall function as price that could be relevant within the lack of parts 1321.01 to 1321.19 for the Revised Code.
No licensee shall pledge or hypothecate any note or protection provided by any debtor except having a person residing or maintaining an accepted bar or nightclub in this state or having a bank authorized to transact company in this state, under an understanding allowing the unit of finance institutions to look at the documents so hypothecated.
The tender by the debtor, or in the borrower’s demand, of an amount corresponding to the balance that is unpaid the necessary rebate for a precomputed loan will be accepted by the licensee in complete re re payment associated with the loan responsibility.
A licensee shall maybe perhaps perhaps not, straight or indirectly, make any re re re payment, or reason to be made any re re re payment, whether in money or elsewhere, to a dealer in concrete items or services, or even to a retail vendor as defined in area 1317.01 associated with the Revised Code, associated with the generating of that loan to a person, patron, or other individual who has been doing, or perhaps is doing, company aided by the dealer in concrete items or solutions, or even the seller that is retail. Continue reading