(A) Effective with the two-year period that begins June 30, 2017, and every two-year period thereafter, each person licensed as a pawnbroker under this chapter shall have at least one person employed at the licensee’s place of business who has completed by the end of the period at least eight hours of continuing education instruction offered in a course or program approved by the superintendent of financial institutions after consultation with an industry representative selected by the superintendent.

Terms Used In Ohio Code 4727.19

  • Pawnbroker: means a person engaged in the business of lending money on deposit or pledges of personal property, other than securities, printed evidence of indebtedness, titles, deeds, or bills of sale, at a total charge, rate of interest, or discount or other remuneration in excess of eight per cent per annum, and includes a person engaged in the business of purchasing personal property from another person with an agreement that the personal property will be made available to that other person for repurchase within an agreed-to time period and for an amount greater than the price originally paid to that other person for the purchase of the personal property. See Ohio Code 4727.01
  • Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
  • Superintendent of financial institutions: includes the deputy superintendent for consumer finance as provided in section 1181. See Ohio Code 4727.01

(B) The superintendent, in accordance with Chapter 119 of the Revised Code, may suspend, revoke, or refuse to renew the license of any licensee who fails to comply with this section.

(C) The superintendent, in accordance with Chapter 119 of the Revised Code, may adopt rules regarding continuing education fees, locations, times, frequency, and waivers of requirements.

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