1321.07 Yearly examination of licensee – charges and mileage of sheriff and witnesses – subpoena.

1321.07 Yearly examination of licensee – charges and mileage of sheriff and witnesses – subpoena.

At least one time every year the division of finance institutions shall make an study of the company, loans, publications, documents, and documents of every licensee up to now while they relate to the licensed company, plus it will make this kind of assessment more often in case it is essential for the correct management of parts 1321.01 to 1321.19 associated with the Revised Code.

The division may at any time investigate the business and examine the books, accounts, papers, and records used therein, of for the purpose of discovering violations

(B) Other people involved with the company described in section 1321.02 of the Revised Code or taking part in such business as major, representative, broker, or perhaps;

(C) anyone who the unit has cause that is reasonable think has violated, is violating, or perhaps is planning to break sections 1321.01 to 1321.19 regarding the Revised Code, whether or otherwise not the person claims to behave under such parts. For the intended purpose of this part, any one who advertises, solicits, or holds self out as ready to make, find, or arrange for the next person in order to make loan deals when you look at the quantity or for the worth of five thousand bucks or less, is assumed become involved in business described in the 1st paragraph of part 1321.02 regarding the Revised Code.

For the intended purpose of this area, the unit shall have and stay offered free use of the workplaces and places of company, files, safes, and vaults of most such people, that will need the attendance of, and examine under oath, anybody in accordance with such loans or such company or even the topic matter of any examination, research, or hearing. The unit may need the attendance of these witnesses and also the creation of these publications, documents, and papers, since might be required either by the unit or by any celebration up to a hearing ahead of the unit, as well as for that function may issue a subpoena for just about any witness or a subpoena duces tecum, to compel the creation of any publications, documents, or documents, directed towards the sheriff of this county where witness that is such or is discovered, which will be offered and returned in much the same as a subpoena in criminal instances is offered and came back.

The costs of this sheriff will probably be just like that permitted when you look at the court of typical pleas in criminal situations. Witnesses will probably be compensated the charges and mileage provided for less than area 119 https://speedyloan.net/installment-loans-ri.094 of the Revised Code. Charges and mileage will be compensated through the funds associated with unit. No witness subpoenaed during the example of events except that the unit is eligible for payment through the state for attendance or travel unless the unit certifies that the witness’ testimony was material to the matter that is subject of hearing.

1321.09 Licensee to protect books – yearly report.

(A) Every licensee shall keep and make use of into the licensee’s company such publications, accounts, and documents since will allow the unit of banking institutions to find out perhaps the licensee is complying with parts 1321.01 to 1321.19 associated with Revised Code along with the sales and rules produced by the unit under those parts. Every licensee shall preserve such books, reports, and documents for at least two years after making the last entry on any loan recorded therein. Accounting systems maintained in entire or perhaps in part by technical or electronic data processing practices that offer information equal to that otherwise required are acceptable with this function.

As needed by the superintendent of banking institutions, every licensee every year shall register a written report aided by the unit providing such relevant information regarding the company and operations, through the preceding calendar year, of every licensed place of business carried out by the licensee in the state. In case a licensee has one or more bar or nightclub inside this state it really is optional utilizing the licensee to furnish the report for every single location, or even a report that is composite all areas. Such report shall be made under oath when you look at the type recommended by the division, which shall make and publish yearly a recapitulation and analysis of these reports. Such licensee reports aren’t records that are public shall simply be used by the division for the true purpose of enforcing parts 1321.01 to 1321.19 for the Revised Code or any guidelines or orders produced in compliance with those sections. Such licensee reports can be introduced into proof or disclosed whenever and in the manner authorized in part 1181.25 associated with the Revised Code, or perhaps in experience of unlawful procedures.

This area will not avoid the division from releasing to or trading along with other institution that is financial authorities information associated with licensees.

(B) For purposes of the part, “financial institution regulatory authority” includes a regulator of a small business task by which a licensee is engaged, or has used to take part in, into the degree that the regulator has jurisdiction over a licensee engaged in that business task. A licensee is involved in business task, and a regulator of the company task has jurisdiction throughout the licensee, whether or not the licensee conducts the activity directly or a subsidiary or affiliate for the licensee conducts the experience.

Effective Date: 06-18-2002.