Section 1301:8-3-12 - Prohibitions(A) No registrant shall take any note or other promise to pay that does not set forth the entire agreement made with the borrower.(B) No registrant shall take any note or promise to pay in which blanks are left to be filled in after execution.(C) No registrant shall charge or collect interest prior to the date of disbursement of the loan funds to the borrower.(D) A new loan shall not be made for the purpose of paying any part of the interest or principal due on an existing loan with the same registrant unless the interest and principal balance of the existing loan is paid in full from the proceeds of the new loan. Ohio Admin. Code 1301:8-3-12
Effective: 12/20/2022
Five Year Review (FYR) Dates: 2/3/2020 and 12/17/2027
Promulgated Under: 119.03
Statutory Authority: 1321.54(A)
Rule Amplifies: 1321.52, 1321.57, 1321.59
Prior Effective Dates: 02/01/1986, 07/01/2008