Ohio Code § 1322.12
Ohio Code § 1322.12. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1322.12.
(A) Each registrant or entity holding a valid letter of exemption under division (B)(1) of section 1322.05 of the Revised Code shall designate an employee or owner of that registrant's business as the operations
manager. The operations manager shall be responsible for the management, supervision, and
control of a particular registrant. (B) To be eligible for such a designation, an employee or owner shall have at least three
years of experience in the residential mortgage and lending field including experience
as a mortgage loan originator, registered mortgage loan originator, or other experience
related to the business of residential mortgage lending that the superintendent determines
is sufficient. While acting as the operations manager, the employee or owner shall be licensed
as a mortgage loan originator under this chapter and shall not be employed by any
other mortgage lender, mortgage broker, or mortgage servicer. (C) If the person designated as the operations manager pursuant to this section ceases
to be the operations manager, the registrant shall do all of the following: (1) Within ninety days after the person ceases to be the operations manager, designate
another person as the operations manager; (2) Within ten days after the designation described in division (C)(1) of this section,
notify the superintendent in writing of the new designation; (3) Submit any additional information that the superintendent requires to establish that
the newly designated operations manager meets the requirements set forth in this section. (D) The registrant shall cease operations if it is without an operations manager approved
by the superintendent for more than one hundred eighty days unless otherwise authorized
in writing by the superintendent due to exigent circumstances.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1322.12
- 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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