Ohio Revised Code Title XIII. Commercial Transactions § 1321.39

(B)(1) Subject to division (B)(2) of this section, the minimum duration of the loan is ninety-one days and the maximum duration of the loan is one year.

(2) The minimum duration of the loan may be less than ninety-one days if the total monthly payment on the loan does not exceed an amount that is six per cent of the borrower's verified gross monthly income or seven per cent of the borrower's verified net monthly income, whichever is greater.

(1) The total amount of fees and charges the borrower will be required to pay in connection with the loan pursuant to the loan contract;

(2) The total amount of each payment, when each payment is due, and the total number of payments that the borrower will be required to make under the loan contract;

(3) A statement, printed in boldface type of the minimum size of ten points, as follows: “WARNING: The cost of this loan is higher than the average cost charged by financial institutions, such as banks or credit unions, on substantially similar loans. A financial institution may be able to offer you a similar loan at a lower cost.”

(4) A statement, printed in a minimum font size of ten points, which informs the borrower that complaints regarding the loan or lender may be submitted to the department of commerce division of financial institutions and includes the correct telephone number and mailing address for the department;

(5) Any disclosures required under the “Truth in Lending Act,” 82 Stat. 146 (1974), 15 U.S.C. 1601, et seq.;

(6) The annual percentage rate;

(7) A statement, printed in a minimum font size of ten points, as follows: “You have the right to rescind or cancel this loan by returning the originally contracted loan amount by five p.m. of the third business day immediately following the day you enter into this contract.”

(8) A statement, printed in a minimum font size of ten points, as follows: “Electronic payment is optional. You have the right to revoke or remove your authorization for electronic payment at any time.”