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Ohio · Through 2007-04-06 (House Bill 454 - 126th General Assembly)

Ohio Rev. Code § 1315.05: Continuing duties of licensees.

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Where this section sits in the code
  1. Title 13 Commercial Transactions
  2. Chapter 1315 Transmitters Of Money; Check-cashing Businesses

Each licensee, at all times, shall meet both of the following requirements:

(A) Be a legally established business entity that is capitalized separately and distinctly from every other legal entity and qualified to do business in this state;

(B) Have a minimum net worth of not less than five hundred thousand dollars, calculated according to generally accepted accounting principles, but excluding any assets that the superintendent of financial institutions disqualifies and including any off-balance sheet liabilities that the superintendent requires.

(C) No licensee shall fail to comply with this section.

Collected 2026-09-14T19:24:29Z. Source file · JSON

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