1321.07 Annual study of licensee – costs and mileage of sheriff and witnesses – subpoena.
At least one time each year the division of banking institutions shall make an study of the company, loans, books, papers, 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.
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 individuals involved 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 who the unit has reasonable cause to think has violated, is breaking, or is planning to break parts 1321.01 to 1321.19 associated with the Revised Code, whether or otherwise not the person claims to do something under such sections. 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.
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 division may need the attendance of these witnesses therefore the manufacturing of these publications, documents, and documents, since can be needed either because of the unit or by any celebration up to a hearing ahead of the unit, as well as that purpose may issue a subpoena for almost any witness or perhaps a subpoena duces tecum, to compel the manufacturing of any books, records, or documents, directed towards the sheriff of this county http://www.speedyloan.net/installment-loans-sc/ where such witness resides or perhaps is discovered, which will probably be served and came back in much the same being a subpoena in unlawful instances is offered and came back.
The charges regarding the sheriff will be just like that permitted within the court of common pleas in unlawful situations. Witnesses will be compensated the fees and mileage provided for less than area 119.094 of the Revised Code. Costs and mileage will probably be paid through the funds of this unit. No witness subpoenaed in the example of events aside from the unit is eligible to settlement through the state for attendance or travel unless the unit certifies that the witness’ testimony was material to the material for the hearing.
1321.09 Licensee to protect publications – yearly report.
(A) Every licensee shall keep and make use of into the licensee’s business such books, reports, and records because will allow the unit of banking institutions to ascertain if the licensee is complying with parts 1321.01 to 1321.19 associated with the Revised Code along with the orders and rules created by the unit under those parts. Every licensee shall protect such publications, reports, and documents for at the least 2 yrs after making the entry that is final any loan recorded therein. Accounting systems maintained in whole or in component by technical or electronic information processing practices that offer information comparable to that otherwise required are appropriate with this function.
Every licensee each year shall file a report with the division giving such relevant information concerning the business and operations, during the preceding calendar year, of each licensed place of business conducted by the licensee within the state as required by the superintendent of financial institutions. If your licensee has multiple bar or nightclub through this state it really is optional with all the licensee to furnish the report for every single location, or a report that is composite all areas. Such report will probably be made under oath within the form recommended because of the unit, which shall make and publish annually an analysis and recapitulation of these reports. Such licensee reports are not public information and shall simply be utilized by the unit for the intended purpose of enforcing parts 1321.01 to 1321.19 associated with Revised Code or any rules or requests built in compliance with those parts. Such licensee reports can be introduced into proof or disclosed whenever and in the way in which authorized in part 1181.25 associated with the Revised Code, or perhaps in reference to unlawful proceedings.
This area does not avoid the unit from releasing to or exchanging along with other standard bank regulatory authorities information associated with licensees.
(B) For purposes for this part, «financial organization regulatory authority» features a regulator of a small business activity for which a licensee is involved, or has applied to take part in, into the level that the regulator has jurisdiction over a licensee involved in that company task. A licensee is involved in company task, and a regulator of this company activity has jurisdiction throughout the licensee, whether or not the licensee conducts the experience straight or a subsidiary or affiliate of this licensee conducts the experience.
Effective Date: 06-18-2002.