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H. B. No. 386As IntroducedAs Introduced
124th General Assembly | Regular Session | 2001-2002 |
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REPRESENTATIVES Blasdel, Salerno, Carmichael, DeWine, Raga, Hoops, Metelsky, Schaffer, G. Smith, Allen, Webster, Collier, Reidelbach, Seitz, Ogg, Olman, Schmidt, Carano, Roman, Hagan, Latell, Schneider, Jolivette, Faber, Lendrum, White, Calvert
A BILL
To enact section 1.63 of the Revised Code to state the
intent of the General Assembly on the relationship
of state and local laws regarding the regulation of
loans and other forms of credit.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 1.63 of the Revised Code be enacted
to read as follows:
Sec. 1.63. (A) The state solely shall regulate the business
of originating, granting, servicing, and collecting loans and
other forms of credit in the state and the manner in which any
such business is conducted, and this regulation shall be in lieu
of all other regulation of such activities by any municipal
corporation or other political subdivision.
(B) Any ordinance, resolution, regulation, or other action
by a municipal corporation or other political subdivision to
regulate, directly or indirectly, the origination, granting,
servicing, or collection of loans or other forms of credit
constitutes a conflict with the Revised Code, including, but not
limited to, Titles XI, XIII, XVII, and XLVII, and with the uniform
operation throughout the state of lending and other credit
provisions, and is preempted.
(C) Any ordinance, resolution, regulation, or other action
by a municipal corporation or other political subdivision
constitutes a conflict with the Revised Code, including, but not
limited to, Titles XI, XIII, XVII, and XLVII, and is preempted, if
the ordinance, resolution, regulation, or other action does either
of the following:
(1) Disqualifies a person, or its subsidiaries or
affiliates, from doing business with such municipal corporation or
other political subdivision based upon the acts or practices of
such person, or its subsidiaries or affiliates, as an originator,
grantor, servicer, or collector of loans or other forms of credit;
(2) Imposes reporting requirements or other obligations upon
a person, or its subsidiaries or affiliates, based upon such
person's, or its subsidiaries' or affiliates', acts or practices
as an originator, grantor, servicer, or collector of loans or
other forms of credit.
(D) If any provision of this section, or any application of
any provision of this section, is for any reason held to be
illegal or invalid, the illegality or invalidity shall not affect
any legal and valid provision or application of this section, and
the provisions and applications of this section shall be
severable.
Section 2. (A) The provisions of the Revised Code, including,
but not limited to, Titles XI, XIII, XVII, and XLVII, relating to
the origination, granting, servicing, and collection of loans and
other forms of credit prescribe rules of conduct upon citizens
generally, comprise a comprehensive regulatory framework intended
to operate uniformly throughout the state under the same
circumstances and conditions, and constitute general laws within
the meaning of Section 3 of Article XVIII of the Ohio
Constitution. (B) The provisions of the Revised Code, including, but not
limited to, Titles XI, XIII, XVII, and XLVII, relating to the
origination, granting, servicing, and collection of loans and
other forms of credit have been enacted in furtherance of the
police powers of the state. (C) Silence in the Revised Code, including, but not limited
to, Titles XI, XIII, XVII, and XLVII, with respect to any act or
practice in the origination, granting, servicing, or collection of
loans or other forms of credit shall not be interpreted to mean
that the state has not completely occupied the field or has only
set minimum standards in its regulation of lending and other
credit activities. (D) It is the intent of the General Assembly to entirely
preempt municipal corporations and other political subdivisions
from the regulation and licensing of lending and other credit
activities.
Section 3. (A) The enactment of section 1.63 of the Revised
Code by this act is intended as a clarification of existing law
and not as a substantive change in the law. (B) The enactment of section 1.63 of the Revised Code by this
act expresses the legislative intent of the General Assembly
currently and at the time of the original enactment of the
provisions of the Revised Code, including, but not limited to,
Titles XI, XIII, XVII, and XLVII, relating to the origination,
granting, servicing, and collection of loans and other forms of
credit.
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