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 State Licensing Requirements

 
Company Licenses Description Requirements Checklist
501(c)(3) Nonprofit Organization Company Exemption A bona fide nonprofit organization that is recognized as tax exempt and whose primary activity is the construction, remodeling, or rehabilitation of homes for use by low-income families, provided that the organization makes no-profit mortgage loans or mortgage loans at zero per cent interest to low-income families and no fees accrue directly to the organization from those mortgage loans, and meets other requirements as provided in O.R.C. 1322.04 and O.A.C. 1301:8-7-31 may obtain this exemption.
Check-Cashing License Any entity or person engaged in the business of cashing checks pursuant to Ohio Revised Code 1315.21 to 1315.30, 1315.99 and 1321.21 and Ohio Administrative Code Chapter 1301:8-8 is required to have this license.
Consumer Installment Loan Act License This license is available for consumer lenders making loans with terms of six months or more as provided in O.R.C. 1321.62 to 1321.702.
Credit Services Organization Certificate of Registration Pursuant to Ohio Revised Code (O.R.C.) § 4712.01(C)(1), credit services organization means any person that, in return for the payment of money or other valuable consideration readily convertible into money for the following services, sells, provides, or performs, or represents that the person can or will sell, provide, or perform, one or more of the following services: • Improving a buyer's credit record, history, or rating; • Obtaining an extension of credit by others for a buyer; • Providing advice or assistance to a buyer in connection with division (C)(1)(a) or (b) of O.R.C. 4712.01; • Removing adverse credit information that is accurate and not obsolete from the buyer's credit record, history, or rating; or • Altering the buyer's identification to prevent the display of the buyer's credit record, history, or rating.
General Loan Law (GLL) Certificate of Registration This registration is available for consumer lenders making loans as provided in O.R.C. 1321.51 to 1321.60.
Insurance Premium Finance License Companies that engage in the business of entering into or otherwise acquiring premium finance agreements for borrowers in Ohio within the terms of the Ohio Insurance Premium Finance Act (”PF”), O.R.C. 1321.71 to 1321.84 are required to obtain this license.
Money Transmitter License Any person, regardless of the location of that person, its facilities, or its agents, who receives directly or indirectly and by any means, money or its equivalent for transmission from a person located in this state is required to have this license. Ohio Revised Code Section 1315.02. Unless, that person receiving the money or its equivalent for transmission is a licensee, or otherwise exempt from licensure.
Precious Metals Dealer This license is required for any entity or person engaged in the business of purchasing articles made of or containing gold, silver, platinum, or other precious metals or jewels of any description if, in any manner, including any form of advertisement or solicitation of customers, the person holds himself, herself, or itself out to the public as willing to purchase such articles pursuant to Ohio Revised Code 4728.01 to 4728.14, 4728.99, 1321.20 and 1321.21 and Ohio Administrative Code Chapter 1301:8-6.
Residential Mortgage Lending Act (RMLA) Certificate of Registration This Registration is required for non-exempt persons engaging in mortgage lending, mortgage brokering, or mortgage servicing as defined in O.R.C. Chapter 1322.
Residential Mortgage Lending Act (RMLA) Letter of Exemption This Letter of Exemption is available for Credit Union Service Organizations and Depository Institutions seeking exemption from registration as provided in O.R.C. 1322.05.
Short-Term Lender License This registration is required to engage in the business of making short-term loans to a borrower in Ohio under O.R.C. 1321.35 to 1321.48.
Short-Term Lender Nonprofit License This registration is required to engage in the business of making short-term loans to a borrower in Ohio under O.R.C. 1321.35 to 1321.48.
Small Loan License Companies that make non-mortgage consumer loans within the terms of the Ohio Small Loan Act (“SL”), O.R.C. 1321.01 to 1321.21.
Third Party Processing and/or Underwriting Company Exemption This exemption is required of a person, other than an independent contractor, which performs only clerical or support duties as defined in 12 U.S.C. 5102(5)(B), as in effect on January 12, 2014, of a loan processor or underwriter for one or more unaffiliated, registered mortgage brokers, qualified exempt entities, or entities exempt from registration pursuant to division (G)(2)(b) of section 1322.01 of the Revised Code.
Branch Licenses Description Requirements Checklist
501(c)(3) Nonprofit Organization Branch Exemption This branch exemption is required for each location of an office to be maintained by an exempt 501(c)(3) nonprofit, other than the location identified as the main office on the Company Form (MU1) filing, as provided in O.A.C. 1301:8-7-31.
Check-Cashing Branch License This branch license is required for places of business maintained by the holder of a Check-Cashing Act (“CC”) License, other than the main location, as identified on the MU1 filing and required by the Ohio Check-Cashing Act, Ohio Revised Code 1315.21 to 1315.30, 1315.99 and 1321.21 and Ohio Administrative Code Chapter 1301:8-8.
Consumer Installment Loan Act Branch License This branch license is required for places of business of Consumer Installment Loan Act Licensees other than the location identified on the CILA License as the main office, as provided in O.R.C. 1321.62 to 1321.702. .
Credit Services Organization Branch Registration This branch license is required for places of business maintained by the holder of a Credit Services Organization Act (“CSO”) Registration, other than the main location, as identified on the MU1 filing and required by the Ohio Credit Services Organization Act, Ohio Revised Code Chapter 4712, and Ohio Administrative Code Chapter 1301:8-10.
General Loan Law Branch Registration This branch license is required for places of business of GLL Registrants, other than the location identified as the main office, as provided in O.R.C. 1321.51 to 1321.60.
Insurance Premium Finance Branch License This branch license is required for each location to be maintained by the holder of an Insurance Premium Finance Act (“PF”) license, other than the main location, identified on the MU1 filing and required by the Ohio Insurance Premium Finance Act, Ohio Revised Code 1321.71 to 1321.84 and Ohio Administrative Code Chapter 1301:8-4.
Precious Metals Dealer This branch license is required for places of business maintained by the holder of a Precious Metals Dealer Act (“PM”) License, other than the main location, as identified on the MU1 filing and required by the Ohio Precious Metals Dealer Act, Ohio Revised Code 4728.01 to 4728.14, 4728.99, 1321.20 and 1321.21 and Ohio Administrative Code Chapter 1301:8-6.
Residential Mortgage Lending Act Branch Registration This branch registration is required for offices maintained by the holder of a RMLA Certificate of Registration, other than the location identified as the main office, as provided in O.R.C. Chapter 1322.
Residential Mortgage Lending Act Letter of Exemption Branch Registration This branch registration is required for offices maintained by the holder of a RMLA Letter of Exemption, other than the location identified as the main office, as provided in O.R.C. Chapter 1322.
Short-Term Lender Branch License This branch license is required for each location to be maintained by the organization other than the main office identified on the MU1 filing. Please refer to Ohio Revised Code 1321.35 to 1321.48 for more information.
Short-Term Lender Nonprofit Branch License This branch license is required for each location to be maintained by the organization other than the main office identified on the MU1 filing. Please refer to Ohio Revised Code 1321.35 to 1321.48 for more information.
Small Loan Branch License This branch license is required for places of business maintained by the holder of a Small Loan Act (“SL”) License, other than the main location, as identified on the MU1 filing and required by the Ohio Small Loan Act, Ohio Revised Code 1321.01 to 1321.21 and Ohio Administrative Code Chapter 1301:8-2.
Individual Licenses Description Requirements Checklist
Mortgage Loan Originator License This license is required for Mortgage Loan Originators as provided in O.R.C. Chapter 1322. A Mortgage Loan Originator is an individual who for compensation or gain takes or offers to take a residential mortgage loan application; assists or offers to assist a buyer in obtaining or applying to obtain a residential mortgage loan; offers or negotiates terms of a residential mortgage loan; or, issues or offers to issue a commitment for a residential mortgage loan to a buyer.
 

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