At least one time every year the unit of banking institutions shall make a study of the business enterprise, loans, publications, papers, and records of each and every licensee to date while they relate to the licensed company, plus it can make such an assessment with greater regularity in case it is needed for the appropriate administration of sections 1321.01 to 1321.19 regarding the Revised Code.
For the intended purpose of discovering violations, the unit may whenever you want investigate the business enterprise and examine the books, reports, documents, and documents utilized therein, of:
(B) Other people engaged in the company described in section 1321.02 of the Revised Code or taking part in such company as major, representative, broker, or elsewhere;
(C) anyone whom the division has reasonable cause to think has violated, is breaking, or is planning to break parts 1321.01 to 1321.19 regarding the Revised Code, whether or perhaps not the person claims to do something under such parts. For the intended purpose of this area, any one who advertises, solicits, or holds self away as willing to make, find, or arrange for the next individual which will make loan transactions within the amount or associated with worth of five thousand bucks or less, is assumed become involved in the company described in the 1st paragraph of area 1321.02 associated with the Revised Code.
The division shall have and be given free access to the offices and places of business, files, safes, and vaults of all such persons, and may require the attendance of, and examine under oath, any person relative to such loans or such business or to the subject matter of any examination, investigation, or hearing for the purpose of this section. The unit might need the attendance of these witnesses while the manufacturing of such publications, documents, and documents, since might be needed either by the unit or by any party to a hearing ahead of the division, as well as that purpose may issue a subpoena for almost any witness or perhaps a subpoena duces tecum, to compel the creation of any books, records, or documents, directed towards the sheriff of this county where witness that is such or is discovered, which will probably be served and came back in much the same as a subpoena in unlawful instances is served and returned.
The fees for the sheriff will be just like that permitted within the court of typical pleas in unlawful instances. Witnesses will probably be paid the costs and mileage provided for less than area 119.094 of the Revised Code. Costs and mileage will be paid through the funds for the division. No witness subpoenaed in the instance of events other than the unit is eligible to settlement through the state for attendance or travel unless the division certifies that the witness’ testimony was material to the matter that is subject of hearing.
1321.09 Licensee to preserve publications – annual report.
(A) Every licensee shall keep and make use of within the licensee’s company books that are such reports, and documents since will allow the unit of finance institutions to find out if the licensee is complying with parts 1321.01 to 1321.19 associated with the Revised Code along with the sales and guidelines produced by the unit under those parts. Every licensee shall protect such books, reports, and records for at the very least couple of years after making the final entry on any loan recorded therein. Accounting systems maintained in entire or in part by technical or data that are electronic practices that offer information equal to that otherwise required are appropriate with this function.
As needed because of the superintendent of banking institutions, every licensee every year shall register a written report utilizing the unit providing such appropriate information in regards to the company and operations, throughout the preceding twelve months, of each and every licensed office conducted because of the licensee in the state. In case a licensee has one or more bar or nightclub inside this state it really is optional using the licensee to furnish the report for every location, or a composite report for all areas. Such report will be made under oath into the type recommended by the unit, which shall make and publish yearly an analysis and recapitulation of such reports. Such licensee reports are not records that are public shall simply be utilized by the unit for the true purpose of enforcing parts 1321.01 to 1321.19 associated with the Revised Code or any guidelines or purchases manufactured in conformity with those parts. Such licensee reports can be introduced into proof or disclosed whenever as well as in the way authorized in section 1181.25 for the Revised Code, or perhaps in reference to unlawful procedures.
This part doesn’t stop the unit from installment loans sc releasing to or trading along with other standard bank regulatory authorities information associated with licensees.
(B) For purposes with this area, “financial organization regulatory authority” carries a regulator of a company task for which a licensee is engaged, or has used to take part in, to your level that the regulator has jurisdiction more than a licensee involved with that company task. A licensee is involved with business activity, and a regulator of the business task has jurisdiction within the licensee, whether or not the licensee conducts the experience straight or perhaps a subsidiary or affiliate regarding the licensee conducts the experience.
Effective Date: 06-18-2002.