Department of Commerce - Small Loan Act - Location of a licensee's records out-of-state; out-of-state examination.

Published: 2008-07-01

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.

In the event books, records, data and documents of a small loan licensee are located outside Ohio the small loan licensee shall be required, upon the request of the superintendent, to pay in advance the estimated costs of the examination of the small loan licensee outside the state of Ohio, including the proportionate cost of the salaries of division of financial institutions employees who conduct the examination. The estimated costs of an out-of-state examination, as determined by the superintendent, shall be deposited with the division upon demand. After the actual costs of the out-of-state examination have been determined, any funds in the deposit account in excess of costs as itemized by the division shall be returned to the small loan licensee.