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Duties of licensee – forbidden activities.

Duties of licensee – forbidden activities.

Licensees under part 1321.01 regarding the Revised Code shall:

(A) during the time any interest-bearing or loan that is precomputed made, deliver to the debtor or, if there are two main or maybe more borrowers, to 1 of those, a statement when you look at the English language disclosing in clear and distinct terms the total amount and date for the loan, a routine of re re re payments or a description thereof, the kind of the security, if any, for the loan, the title and address regarding the licensed workplace as well as each debtor, and also the agreed interest rate, or perhaps in place thereof, a duplicate associated with the instrument evidencing your debt finalized by the debtor;