Small installment loans

Chapter 1321: SMALL LOANS

1321.01 Little loan definitions.

(A) As utilized in parts 1321.01 to 1321.19 associated with Revised Code:

(1) “Person” includes individuals, partnerships, associations, trusts, corporations, and all sorts of other appropriate entities.

(2) “License” means a permit given under parts 1321.01 to 1321.19 associated with the Revised Code which will make loans at a place that is single of.

(3) “Licensee” means an individual to who several licenses happen released.

(4) “Principal quantity” means the quantity of money compensated to, or compensated or payable for the account of, the debtor.

(5) “Interest” means all costs payable straight or indirectly by way of a debtor to a licensee as an ailment to that loan or a credit card applicatoin for the loan, nevertheless denominated, but will not consist of standard costs, deferment costs, insurance coverage fees or premiums, court expenses, loan origination fees, check collection fees, personal line of credit costs, credit history fees, or any other costs and fees particularly authorized by law. 继续阅读Small installment loans