DEFINITION IN OHIO CODE EXCLUDING CREDIT CARDS AS WRITTEN CONTRACTS
1335.02 Loan agreements with financial institution.
Text of Statute
(A) As used in this section:
(1) "Debtor" means a person that obtains credit or seeks a loan agreement with a financial institution or owes money to a financial institution.
(2) "Financial institution" means either of the following:
(a) A federally or state-chartered bank, savings bank, savings and loan association, or credit union, or a holding company, subsidiary, or affiliate of a bank, savings bank, or savings and loan association;
(b) A licensee under sections 1321.01 to 1321.19 of the Revised Code, or a registrant under sections 1321.51 to 1321.60 of the Revised Code, or a parent company, subsidiary, or affiliate of a licensee or registrant.
(3) "Loan agreement" means one or more promises, promissory notes, agreements, undertakings, security agreements, mortgages, or other documents or commitments, or any combination of these documents or commitments, pursuant to which a financial institution loans or delays, or agrees to loan or delay, repayment of money, goods, or anything of value, or otherwise extends credit or makes a financial accommodation.
"Loan agreement" does not include a promise, promissory note, agreement, undertaking, or other document or commitment relating to a credit card, a charge card, a revolving budget agreement subject to section 1317.11 of the Revised Code, an open-end loan agreement subject to section 1321.16 or 1321.58 of the Revised Code, or an open-end credit agreement subject to section 1109.18 of the Revised Code.
§ 1109.18 Revolving credit agreements.
(A) A bank may extend credit to a customer pursuant to a revolving credit agreement allowing the customer to access the credit from time to time, subject to a limitation on the outstanding balance of the credit accessed and without regard to whether the customer has previously accessed and repaid the credit. A revolving credit agreement may authorize the customer to access the credit extended by either or both of the following:
(1) Purchasing goods or services from a seller by means of the bank's commitment to advance to the seller the payment for the goods and services purchased by the customer;
(2) Obtaining an advance of funds by the bank or by another in reliance on the bank's commitment to pay the funds advanced to the customer.
(B) The terms of a revolving credit agreement may permit the bank to charge, collect, and receive any finance charge or other fee or charge permitted by section 1109.20 of the Revised Code. A revolving credit agreement shall specify the manner in which the bank will compute the loan balance on which interest and finance charges are assessed as permitted by section 1109.20 of the Revised Code. A revolving credit agreement may permit the bank to charge a minimum monthly finance charge of one dollar for any month for which there is an unpaid balance on the customer's account.
(C) The bank shall supply to its customer under a revolving credit agreement a statement as of the beginning or end of each period in which there is any unpaid balance on the customer's account, which period may be a calendar month or other regular period not in excess of thirty-one days. The statement shall include the following:
(1) The unpaid balance under the agreement at the beginning and end of the period;
(2) The date and amount of each advance made by the bank for the account of the customer during the period;
(3) The cash purchase price and the date of each purchase of goods or services with respect to which advances for the account of the customer were made during the period;
(4) All payments made by the customer to the bank and any other credits to the customer during the period;
(5) The amount of all charges made against the customer during the period;
(6) A legend to the effect that the customer may at any time pay the unpaid balance without incurring further charges. HISTORY: 146 v H 538. Eff 1-1-97.
If its not considered to be a written contract, then the 15 year statute won't apply.
And then there's these references elsewhere:
http://www.carreonandassociates.com/articles/statute.htm#Ohio
Or this one:
http://www.sec-claims.com/statutes.htm
Any law student knows that there will be no case law where the cases are not heard in a court of record and most credit lawsuits happen in small claims court - ie - NO RECORD.
