One or more times every year the division of banking institutions shall make an study of business, loans, books, documents, and documents of each and every licensee up to now if it is necessary for the proper administration of sections 1321.01 to 1321.19 of the Revised Code as they pertain to the licensed business, and it may make such an examination more frequently.
For the intended purpose of discovering violations, the division may whenever you want investigate the business enterprise and examine the books, reports, documents, and documents utilized therein, of:
(B) Other people involved in the business enterprise described in section 1321.02 of the Revised Code or taking part in such company as principal, agent, broker, or elsewhere;
(C) anyone who the division has cause that is reasonable think has violated, is breaking, or is going to break parts 1321.01 to 1321.19 associated with Revised Code, whether or perhaps not the person claims to behave under such parts. Any person who advertises, solicits, or holds self out as willing to make, find, or arrange for another person to make loan transactions in the amount or of the value of five thousand dollars or less, is presumed to be engaged in the business described in the first paragraph of section 1321.02 of the Revised Code for the purpose of this section.
For the intended purpose of this area, the division shall have and become offered free use of the workplaces and places of company, files, safes, and vaults of most such people, and can even need the attendance of, and examine under oath, anybody relative to such loans or such business or even the niche case of any assessment, research, or hearing. The unit may necessitate the attendance of these witnesses plus the manufacturing of these publications, documents, and documents, as can be needed either by the division or by any celebration up to a hearing ahead of the division, as well as for that purpose may issue a subpoena for almost any witness or perhaps a subpoena duces tecum, to compel the creation of any books, documents, or documents, directed to your sheriff for the county where witness that is such or perhaps is discovered, which shall be served and came back very much the same as a subpoena in unlawful situations is served and came back.
The costs associated with the sheriff will be just like that permitted when you look at the court of common pleas in unlawful instances. Witnesses will probably be compensated the charges and mileage provided for less than area 119.094 of the Revised Code. Costs and mileage will probably be compensated through the funds associated with the unit. No witness subpoenaed during the example of events apart from the unit is eligible for compensation through the state for attendance or travel unless the unit certifies that the witness’ testimony was material to the subject material associated with hearing.
1321.09 Licensee to protect publications – annual report.
(A) Every licensee shall keep and employ when you look at the licensee’s business such publications, reports, and documents because will allow the unit of banking institutions to find installment loans nd out whether or not the licensee is complying with sections 1321.01 to 1321.19 associated with the Revised Code along with the instructions and guidelines created by the unit under those parts. Every licensee shall protect such books, accounts, and records for at the least 2 yrs after making the entry that is final any loan recorded therein. Accounting systems maintained in entire or perhaps in component by mechanical or data that are electronic methods that offer information equivalent to that otherwise required are appropriate for this function.
As required by the superintendent of finance institutions, every licensee every year shall register a study using the division offering such appropriate information in regards to the company and operations, through the preceding season, of each and every licensed place of business carried out because of the licensee in the state. If your licensee has one or more bar or nightclub inside this state it is optional with all the licensee to furnish the report for every location, or perhaps a report that is composite all places. Such report will be made under oath within the type recommended because of the unit, which shall make and publish yearly a recapitulation and analysis of these reports. Such licensee reports are not public record information and shall simply be employed by the unit for the true purpose of enforcing parts 1321.01 to 1321.19 associated with the Revised Code or any guidelines or requests manufactured in conformity with those parts. Such licensee reports can be introduced into proof or disclosed when as well as in the way in which authorized in part 1181.25 regarding the Revised Code, or perhaps in experience of criminal procedures.
This section will not prevent the division from releasing to or trading with other standard bank regulatory authorities information concerning licensees.
(B) For purposes with this area, “financial organization regulatory authority” includes a regulator of a company activity by which a licensee is engaged, or has used to take part in, towards the level that the regulator has jurisdiction more than a licensee involved with that company task. A licensee is involved with a continuing business task, and a regulator of this business activity has jurisdiction on the licensee, if the licensee conducts the experience straight or even a subsidiary or affiliate associated with the licensee conducts the experience.
Effective Date: 06-18-2002.