Ohio Administrative Code

19.03 PDF: (A) A licensee who wishes to be issued a temporary exhibition permit under the provisions of division (C) of section 4728.04 of the Revised Code shall apply to the superintendent. The application shall contain the licensee's name, permanent business address, license nu…

19.03 PDF: Unless otherwise specified, as used in Chapter 1322. of the Revised Code and in this chapter of the Administrative Code:(A) "Advertisement" and "advertising" means any written or oral statement, illustration, or depiction, whether in English or any other language, that…

19.03 PDF: (A) A registrant shall register every office where any of the following activities occur or conditions exist:(1) Leads are solicited or received, directly or indirectly, from residents of this state, for property in this state, or from a location physically in this sta…

19.03 PDF: (A) Submitting an application for a certificate of registration, letter of exemption or license via the NMLS does not authorize the applicant to begin acting as a registrant, qualified exempt entity, or licensee. (B) Each question and answer on the NMLS, including any …

19.03 PDF: (A) In accordance with division (B) of section 1322.34 of the Revised Code and division (C)(3) of section 1322.05 of the Revised Code, the four-year retention period commences on the date the residential mortgage loan is closed or, if the residential mortgage loan is n…

19.03 PDF: (A) Every advertisement placed, or caused to be placed, by a registrant or licensee shall, in manner or form that is reasonably understandable to the average borrower:(1) State the name of the registrant as printed on its certificate of registration. If a registrant ha…

19.03 PDF: (A) A registrant shall grant sufficient authority to its operations manager to carry out the duty of ensuring that the daily operations and management of the registrant's business complies with all state and federal laws, rules, and regulations applicable to the transa…

19.03 PDF: (A) The superintendent or authorized division personnel may conduct an examination in accordance with division (A) of section 1322.34 of the Revised Code or an investigation in accordance with division (B) of section 1322.50 of the Revised Code during normal business h…

19.03 PDF: (A) With respect to a bond obtained by a registrant, or by a qualified exempt entity or loan processing or underwriting company in the same manner as a registrant, the following shall apply:(1) The surety bond required by section 1322.32 of the Revised Code shall be on…

19.03 PDF: The affiliated business disclosure referenced in division (A)(1) of section 1322.42 of the Revised Code shall comply with 12 C.F.R. 1024.15(b), as in effect May 1, 2024, and be made in conformity with the timing specified in 12 C.F.R. 1024.15(b)(1), as in effect May 1,…

19.03 PDF: Conduct that constitutes improper, fraudulent, or dishonest dealings under division (C) of section 1322.40 of the Revised Code includes the following:(A) Failing to return all original documents provided to the registrant or licensee by the borrower;(B) Permitting an u…

19.03 PDF: (A) In accordance with division (C)(2) of section 1322.28 of the Revised Code, a licensee or applicant to become a licensee shall be permitted to receive credit for a continuing education course in a year other than the year in which the course is taken in order to mak…

19.03 PDF: The notification requirements in this administrative rule shall be made via the NMLS unless otherwise indicated. If notice of a change is required to be made before its effective date, the registrant or qualified exempt entity shall submit an "advance change notice" vi…

19.03 PDF: (A) Compensation of any kind paid to a licensee employed by or associated with a registrant or qualified exempt entity shall be: (1) Paid by check or electronic draft; (2) Paid from the account of the registrant or qualified exempt entity, or account of a third party p…

19.03 PDF: (A) In determining whether a person has the character and general fitness to command the confidence of the public and warrant the belief that the business will be operated honestly and fairly in compliance with the purposes of Chapter 1322. of the Revised Code and the …

19.03 PDF: (A) A registrant or qualified exempt entity may, with the prior approval of the superintendent, use a trade name or fictitious name, provided:(1) The trade name or fictitious name complies with division (A)(1) of section 1101.15 of the Revised Code; and(2) The trade na…

19.03 PDF: (A) A violation of division (G) of section 1322.40 of the Revised Code may include the following:(1) In the case of any refinance of a residential mortgage loan or non-purchase second residential mortgage loan, a person states on the appraisal order form or communicate…

19.03 PDF: (A) For purposes of division (H) of section 1322.36 of the Revised Code, an individual who has applied for, holds, or held a mortgage loan originator license may challenge information entered into the NMLS by the superintendent. Such challenge shall be in writing and m…

19.03 PDF: (A) In addition to the criteria set forth in divisions (F)(1) to (F)(6) of section 1322.01 of the Revised Code, a bona fide nonprofit organization is also required to:(1) Be registered and maintain current registration status with the charitable law section of the Ohio…

19.03 PDF: (A) For purposes of division (AA)(2)(h) of section 1322.01 of the Revised Code, "loan processing or underwriting company" means an entity that performs only clerical or support duties for one or more unaffiliated registrants or qualified exempt entities.(B) For purpose…

19.03 PDF: As used in rules 1301:8-7-35 to 1301:8-7-40 of the Administrative Code:(A) "Confirmed successor in interest" means a successor in interest once a mortgage servicer has confirmed the successor in interest's identity and ownership interest in a property that secures a re…

19.03 PDF: (A) During the sixty-day period beginning on the effective date of transfer of the servicing of any residential mortgage loan, if the transferor mortgage servicer, rather than the transferee mortgage servicer that should properly receive payment on the loan, receives p…

19.03 PDF: (A) If the terms of a residential mortgage loan require the borrower to make payments to the mortgage servicer of the residential mortgage loan for deposit into an escrow account to pay taxes, insurance premiums, and other charges for the mortgaged property, the mortga…

19.03 PDF: (A) A mortgage servicer will comply with this rule for any written notice from the borrower that asserts an error and that includes the name of the borrower, information that enables the mortgage servicer to identify the borrower's residential mortgage loan account, an…

19.03 PDF: (A) A mortgage servicer will comply with this rule for any written request for information from a borrower that includes the name of the borrower, information that enables the mortgage servicer to identify the borrower's residential mortgage loan account, and states th…

19.03 PDF: The revocation, suspension, or failure to obtain and maintain a license does not impair or affect a mortgage servicer's obligations under a preexisting lawful contract with a mortgage lender or borrower. Last updated September 19, 2025 at 7:27 AM Authorized By: 1322.57…

19.03 PDF: As used in sections 1315.21 to 1315.30 of the Revised Code and this chapter:(A) "Advertise," "advertisement," and "advertising" means any written or oral statement, illustration, or depiction designed to create interest in purchasing check-cashing services.(B) "Cash" m…

19.03 PDF: (A) In accordance with sections 1315.21 to 1315.30 of the Revised Code each check-cashing business shall obtain a license for its main office. An application, license fee and investigation fee shall also be submitted to the superintendent of financial institutions for …

19.03 PDF: (A) A licensed check-cashing business shall maintain its records for at least two years from the date of each check-cashing transaction. The retention period for an advertisement commences from the date the advertisement is published, broadcast, or disseminated.(B) Rec…

19.03 PDF: (A) A licensed check-cashing business shall not issue any money order without concurrently receiving the face amount thereof in cash, or by check, less any fees permitted by law for the issuance of the money order.(B) A licensed check-cashing business shall pay the ent…

19.03 PDF: (A) Every advertisement placed, or caused to be placed, by a licensed check-cashing business shall:(1) State the name of the licensed check-cashing business as printed on its license. If a licensed check-cashing business has been approved by the superintendent to condu…

19.03 PDF: (A) "Business day" means any calendar day that is not a Saturday or Sunday or a legal holiday. "Legal holiday" has the same meaning as in section 1.14 of the Revised Code.(B) "Current earnings" means revenues less operating expenses before all insurance assessments or …

19.03 PDF: (A) Credit unions shall adopt as a minimum, the following policies:(1) An electronic information policy which shall provide for operating procedures, practices and purchases of devices used for information technology. These policies and procedures shall serve as an ove…

19.03 PDF: (A) Each credit union engaged in operations as of January first of a calendar year shall pay the supervisory fee described in division (E) of section 1733.32 of the Revised Code, based on a percentage of the gross assets of the credit union, as shown by its last annual…

19.03 PDF: (A) A credit union may provide one or more service facilities for the transaction of any credit union business. A set of all accounting records of the service facilities shall be maintained at the home office of the credit union. A service facility may also include a s…

19.03 PDF: (A) Voting by proxy, by mail ballot, or by electronic ballot by members is permitted if a provision for the use thereof and minimum standards are contained in the credit union's code of regulations.(B) The credit union must annually send a copy of the form of any proxy…

19.03 PDF: (A) Each credit union shall obtain and maintain a fidelity bond, subject to approval of the superintendent, that at a minimum, provides coverage for the fraud and dishonesty of all employees, directors, officers, and committee members. If a bonding company has submitte…

19.03 PDF: (A) The purpose of the allowance for loan losses is to represent the management's estimate of loan losses in a credit union's loan portfolio. The allowance for loan losses will be charged with the amount of uncollectible loans and loan-derived assets which have been au…

19.03 PDF: (A) Each credit union member shall: .(1) Be furnished, at least semiannually, a statement of accounts clearly reflecting all transactions involving the member's account during the previous accounting period. (2) Be entitled to receive, within a reasonable time and upon…

19.03 PDF: A credit union shall preserve its corporate records either as originals or by some other method in accordance with sections 1733.29 and 1733.291 of the Revised Code, GAAP, and with the following schedule.(A) Records to be maintained for six years:(1) Monthly financial …

19.03 PDF: (A) For the purchase of notes of liquidating other credit unions, notes made by individual members of a credit union may be purchased by another credit union at a price agreed upon by the credit unions and subject to the prior written approval of the superintendent.(B)…

19.03 PDF: A credit union may enter into certain derivatives transactions, pursuant to an approved derivatives program, exclusively for the purpose of reducing interest rate exposure. (A) "Approved derivatives program" means a program administered by an eligible credit union that…

19.03 PDF: (A) Pursuant to division (C) of section 1733.31 of the Revised Code, the superintendent defines "liquidity fund" as the sum of all cash on hand or on deposit, plus all investments maturing within one year of the date the calculation in paragraph (C)(1) of this rule is …

19.03 PDF: (A) The board of directors may approve payment of dividends on shares from current earnings only. No dividend may be declared or paid unless the credit union is in full compliance with section 1733.31 of the Revised Code. However, the superintendent may permit the paym…

19.03 PDF: (A) A condition of impairment exists if the difference between total assets minus current and long-term liabilities (not including shares) is less than the total amount of all share accounts. Impairment also exists when a member's written intention to withdraw their sh…

19.03 PDF: (A) Every credit union shall maintain accounts, observe GAAP, and comply with any other accounting standards the superintendent prescribes.(B) The superintendent may require at any time that a credit union have its accounts audited in accordance with generally accepted…

19.03 PDF: (A) Except as provided in this rule or in section 9.02 of the Revised Code, any party, including a governmental authority, that requires or requests a credit union to assemble or provide a customer's financial records shall pay the credit union for all actual and neces…