(A) If a statewide common database is not developed under section 1321.46 of the Revised Code, each licensee shall subscribe to, report to, and use an electronic database tracking service that permits the licensee to determine whether the borrower has an outstanding unpaid check or debit authorization that is, or reasonably appears to be, connected to a short-term loan. In the absence of an electronic database tracking service, each licensee shall require a borrower to sign a written declaration confirming that, pursuant to section 1321.41 of the Revised Code, the borrower is eligible to receive a loan.
(B) The records of a licensee and any electronic database tracking service shall be subject to review and examination by the division of financial institutions to determine whether the licensee is complying with this section and other applicable provisions of sections 1321.35 to 1321.48 of the Revised Code.
Effective Date: 2008 HB545 09-01-2008
Section: Previous 1321.42 1321.421 1321.422 1321.43 1321.44 1321.45 1321.46 1321.461 1321.47 1321.48 1321.51 1321.52 1321.521 1321.522 1321.53 NextLast modified: October 10, 2016