The division of financial institutions shall investigate the facts concerning the applicant and the requirements provided for in divisions (A) and (B) of this section upon the filing of an application under section 1321.03 of the Revised Code and payment of fees pursuant to section 1321.20 of the Revised Code.
The unit shall accept the application form and problem and deliver a permit into the applicant if the unit discovers each of the immediate following:
(A) That the economic obligation, experience, reputation, and basic physical fitness of this applicant and of the users thereof, in the event that applicant is a partnership or a link, and of the officers and directors thereof, in the event that applicant is a company, are such as for example to justify the belief that the company will undoubtedly be operated lawfully, truthfully, and fairly under parts 1321.01 to 1321.19 associated with the Revised Code and inside the purposes of the parts, that the applicant has completely complied with those parts, and that the applicant is qualified to behave as being a lender that is licensed
(B) That the applicant has designed for the procedure of these company money or moneys deposited in a fund that is readily accessible account of no less than twenty-five thousand bucks. Continue reading Investigation by unit – notice of filing of application – notice to licensees – permit given – denial of application.