Ohio Code § 4712.06
Ohio Code § 4712.06. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 4712.06.
(A) No credit services organization shall conduct business in this state unless the organization
has obtained a surety bond issued by a surety company authorized to do business in
this state and all of the following conditions are met: (1) A copy of the bond is filed with the division of financial institutions. (2) The bond is in favor of any person, and of the state for the benefit of any person,
that is injured by any violation of sections 4712.01 to 4712.14 of the Revised Code . (3) The bond is in the amount of fifty thousand dollars. (4) The bond is maintained and in effect for at least two years after the date on which
the credit services organization ceases to conduct business in this state. (B) Any person claiming against the bond for a violation of sections 4712.01 to 4712.14 of the Revised Code may maintain an action at law against the credit services organization and against
the surety company. However, the surety company is liable only for damages awarded under division (A)(2) of section 4712.10 of the Revised Code and not for punitive damages awarded under division (A)(3) of section 4712.10 of the Revised Code . The aggregate liability of the surety company to all persons injured by a credit
services organization's violation of sections 4712.01 to 4712.14 of the Revised Code shall not exceed the amount of the bond.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 4712.06
- 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 § 4712.06 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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