Ohio Code § 1321.71
Ohio Code § 1321.71. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1321.71.
As used in sections 1321.71 to 1321.83 of the Revised Code : (A) “ Annual percentage rate ” means the ratio of the finance charges, as authorized by sections 1321.79 and 1321.791 of the Revised Code , on a loan to the unpaid principal balance on the loan for any period of time, expressed
on an annual basis. (B) “Insurance premium finance company” or “ premium finance company ” means a person engaged in the business of entering into or otherwise acquiring premium
finance agreements. (C) “ Person ” means any individual, partnership, association, trust, corporation, or other legal
entity. (D) “ Premium finance agreement ” means an agreement by which an insured or prospective insured promises to pay a
premium finance company the amount advanced or to be advanced under the agreement
to an insurer or to an insurance agent or broker in payment of premiums on an insurance
contract together with a finance charge as authorized and limited by sections 1321.71 to 1321.83 of the Revised Code . (E) “ License ” means a license issued by the division of financial institutions under sections 1321.71 to 1321.83 of the Revised Code . (F) “ Licensee ” means a premium finance company holding a license. (G) “ Superintendent of financial institutions ” includes the deputy superintendent for consumer finance as provided in section 1181.21 of the Revised Code .
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1321.71
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
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Statute text is transcribed from the official Ohio Revised Code. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Ohio attorney.
Common questions
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The text above is transcribed from the Ohio Revised Code, the codified statutes of Ohio. The official publisher link appears under "Verify the text" on this page.
What subject does Ohio Revised Code § 1321.71 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
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Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Ohio source before relying on this text.
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