The bill amends section 9.79 of the Revised Code and enacts new sections 4710.01 through 4710.19 to establish a comprehensive licensing framework for debt services providers in Ohio. It defines key terms such as "license," "consumer," and "debt resolution services," and mandates that licensing authorities create a list of specific criminal offenses that may disqualify individuals from obtaining a license. The legislation also protects individuals from being denied a license based on certain criminal convictions or vague qualifications, specifies timeframes for considering past offenses, and requires authorities to notify individuals of the reasons for any license denial. A temporary provision prevents licensing authorities from refusing licenses based on convictions for offenses occurring between April 4, 2023, and April 4, 2025.

Additionally, the bill outlines the requirements for obtaining and renewing a debt resolution services license, including filing a surety bond and undergoing a criminal history check for key officers. It specifies exemptions for certain professionals and emphasizes compliance with regulations for license denial, suspension, or revocation. The bill enhances consumer protection by allowing the superintendent to suspend licenses if public interest is at risk, requiring clear agreements between licensees and consumers, and prohibiting misleading advertising. It also establishes penalties for violations and sets a three-year statute of limitations for related actions. Existing sections of the Revised Code concerning debt resolution services will be repealed, with the new regulations taking effect one year after the bill's passage.

Statutes affected:
As Introduced: 9.79, 4710.01, 4710.02, 4710.03, 4710.04, 4710.99