# Ohio Admin. Code 1301:8-5-07: Rule 1301:8-5-07. Payments on a pawn loan

> Ohio · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_8_5_07

## Section

- **Citation:** Ohio Admin. Code 1301:8-5-07
- **Heading:** Rule 1301:8-5-07. Payments on a pawn loan
- **Jurisdiction:** Ohio
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Ohio Administrative Code / Agency 1301:8 / Chapter 1301:8-5 / Rule 1301:8-5-07

## Text

119.03 (A) A licensee shall not accept an interest or storage payment for any month other than the current month, except when the pledgor redeems the pledged property. Prepayment of interest and storage charges may not occur at the time the loan is originated. The pawnbroker may, however, assess a full month's interest and storage charge for any fraction of a month that exists at the time the loan is redeemed. (B) A pawn loan shall not be refinanced. A licensee shall not redeem a pawn loan on behalf of a pledgor. A licensee shall not require or accept a pro-rata payment on any interest or any other charges. (C) A licensee shall not establish a new pawn date for a pawn loan when any payment on the loan is made but no redemption occurs. (D) For purposes of calculating thirty day notice period pursuant to division (A) of section 4727.11 of the Revised Code, the day of the mailing shall not be counted. If the thirtieth day falls on a day that the licensee is not open for business, the thirtieth day shall be deemed to be the first subsequent full day that the licensee is open for business. Last updated March 21, 2024 at 8:41 AM Supplemental Information Authorized By: 4727.13 (A) Amplifies: 4727.06 , 4727.11 3/21/2029 11/15/2010

## Nearby sections

- [Ohio Admin. Code 1301:8-5-01 Rule 1301:8-5-01. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_8_5_01.md)
- [Ohio Admin. Code 1301:8-5-02 Rule 1301:8-5-02. Advertising](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_8_5_02.md)
- [Ohio Admin. Code 1301:8-5-03 Rule 1301:8-5-03. Notifications](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_8_5_03.md)
- [Ohio Admin. Code 1301:8-5-04 Rule 1301:8-5-04. Obstruction of inspection; statement to pledgor; authorized fees](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_8_5_04.md)
- [Ohio Admin. Code 1301:8-5-05 Rule 1301:8-5-05. Unlicensed pawnbrokers](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_8_5_05.md)
- [Ohio Admin. Code 1301:8-5-06 Rule 1301:8-5-06. Purchases; list of property held for sale](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_8_5_06.md)
- [Ohio Admin. Code 1301:8-5-07 Rule 1301:8-5-07. Payments on a pawn loan](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_8_5_07.md)
- [Ohio Admin. Code 1301:8-5-08 Rule 1301:8-5-08. Continuing education](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_8_5_08.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_8_5_07. Check the current official text before relying on it. Not legal advice.