Chapter 1321: SMALL LOANS
1321.01 Little loan definitions.
(A) As found in parts 1321.01 to 1321.19 for the Revised Code:
(1) “Person” includes individuals, partnerships, associations, trusts, corporations, and all sorts of other entities that are legal.
(2) “License” means a permit given under parts 1321.01 to 1321.19 associated with the Revised Code to produce loans at a place that is single of.
(3) “Licensee” means an individual to who several licenses have now been released.
(4) “Principal quantity” means the total amount of money compensated to, or paid or payable for the account of, the debtor.
(5) “Interest” means all costs payable straight or indirectly by a debtor up to a licensee as a disorder to that loan or a software for the loan, nevertheless denominated, but doesn’t add standard costs, deferment costs, insurance coverage fees or premiums, court expenses, loan origination costs, always check collection fees, personal line of credit fees, credit history fees, or other costs and costs particularly authorized for legal reasons. [Read more…] about Small installment loans