Ohio Rev. Code § 1121.29 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.29
§ 1121.29. Assessments
Status: in_force

September 29, 2017 House Bill 49 - 132nd General Assembly (A)(1) Each bank, savings and loan association, and savings bank subject to inspection and examination by the superintendent of financial institutions and transacting business on the thirty-first day of December, or their successors in interest, shall pay to the treasurer of state assessments as provided in this section. The superintendent shall make each assessment based on the total assets as shown on the books of the bank, savings and loan association, or savings bank as of the thirty-first day of December of the previous year. The superintendent shall collect the assessment on an annual or periodic basis, as provided by the superintendent. All assessments shall be paid within fourteen days after receiving an invoice for payment of the assessment. (2) After determining the budget of the division of financial institutions for examination and regulation of banks, savings and loan associations, and savings banks, but prior to establishing the schedule of assessments under this division necessary to fund that budget, the superintendent shall consider any necessary cash reserves and any amounts collected but not yet expended or encumbered by the superintendent in the previous fiscal year's budget and remaining in the banks fund pursuant to division (C) of section 1121.30 of the Revised Code. (3) The superintendent shall establish the actual schedule of assessments on an annual basis, present the schedule to the banking commission for confirmation, and forward copies of the current year's schedule to banks, savings and loan associations, and savings banks doing business under authority granted by the superintendent, or their successors in interest. If during the period between the banking commission's confirmation of the schedule of assessments and the completion of the fiscal year in which those assessments will be collected, the banking commission determines additional money is required to adequately fund the operations of the division of financial institutions for that fiscal year, the banking commission may, by the affirmative vote of two-thirds of its members, increase the schedule of assessments for that fiscal year. The superintendent shall promptly notify each bank, savings and loan association, and savings bank of the increased assessment, and each bank, savings and loan association, and savings bank shall pay the increased assessment as made and invoiced by the superintendent. (4) A bank, savings and loan association, or savings bank authorized by the superintendent to commence business in the period between assessments shall pay the actual reasonable costs of the division's examinations and visitations. The bank, savings and loan association, or savings bank shall pay the costs within fourteen days after receiving an invoice for payment. (B)(1) Whenever in the judgment of the superintendent the condition or conduct of a bank renders it necessary to make additional examinations and follow-up visitations within the examination cycle beyond the minimum required by division (A) of section 1121.10 of the Revised Code, the superintendent shall charge the bank for the additional examinations and follow-up visitations as provided in division (C) of this section. The bank shall pay the fee charged within fourteen days after receiving an invoice for payment. (2) The superintendent shall charge a bank for any examination of the bank's operations as a trust company and data processing facility in accordance with division (C) of this section whether that examination is the only examination of the bank in the examination cycle or in addition to other examinations of the bank's operations. (C) The superintendent shall periodically establish a schedule of fees to be paid for examinations, applications, certifications, and notices considered necessary by the superintendent. (D)(1) The superintendent may waive any fees provided for in division (C) of this section to protect the interests of depositors and for other fair and reasonable purposes as determined by the superintendent. (2) The fees established by the superintendent pursuant to division (C) of this section for processing applications and notices and conducting and processing examinations shall be reasonable considering the direct and indirect costs to the division, as determined by the superintendent, of processing the applications and for conducting and processing the examinations. (E) The superintendent may determine and charge reasonable fees for furnishing and certifying copies of documents filed with the division and for any expenses incurred by the division in the publication or serving of required notices. (F) Assessments and examination and application fees charged and collected pursuant to this section are not refundable. Any fee charged pursuant to this section shall be paid within fourteen days after receiving an invoice for payment of the fee. (G) The superintendent shall pay all assessments and fees charged pursuant to this section and all forfeitures required to be paid to the superintendent into the state treasury to the credit of the banks fund.
Ohio Rev. Code § 1181.21 — Ohio Revised Code / Title 11 / Chapter 1181 / § 1181.21
§ 1181.21. Regulating consumer finance companies
Status: in_force

January 1, 2018 House Bill 199, House Bill 49 - 132nd General Assembly (A) As used in this section, "consumer finance company" has the same meaning as in section 1181.05 of the Revised Code. (B) The superintendent of financial institutions shall see that the laws relating to consumer finance companies are executed and enforced. (C) The deputy superintendent for consumer finance shall be the principal supervisor of consumer finance companies. In that position the deputy superintendent for consumer finance shall, notwithstanding section 1321.421 , division (A) of section 1321.76 , and sections 1321.07 , 1321.55 , 1322.34 , 4727.05 , and 4728.05 of the Revised Code, be responsible for conducting examinations and preparing examination reports under those sections and under Chapter 4712. of the Revised Code. In addition, the deputy superintendent for consumer finance shall, notwithstanding sections 1315.27 , 1321.10 , 1321.43 , 1321.54 , 1321.77 , 1322.57 , 4712.14 , 4727.13 , and 4728.10 of the Revised Code, have the authority to adopt rules and standards in accordance with those sections. In performing or exercising any of the examination, rule-making, or other regulatory functions, powers, or duties vested by this division in the deputy superintendent for consumer finance, the deputy superintendent for consumer finance shall be subject to the control of the superintendent of financial institutions and the director of commerce. The Legislative Service Commission presents the text of this section as a composite of the section as amended by multiple acts of the General Assembly. This presentation recognizes the principle stated in R.C. 1.52(B) that amendments are to be harmonized if reasonably capable of simultaneous operation.
Ohio Rev. Code § 1115.05 — Ohio Revised Code / Title 11 / Chapter 1115 / § 1115.05
§ 1115.05. Acquisitions
Status: in_force

September 1, 2021 House Bill 133 - 134th General Assembly (A) As used in this section: (1) "Acquire" or "acquisition" means any of the following transactions or actions: (a) A merger or consolidation with, or purchase of assets from, a bank holding company that has acquired an Ohio bank; (b) The acquisition of the direct or indirect ownership or control of voting shares of an Ohio bank if, after the acquisition, the acquiring bank holding company will directly or indirectly own or control the Ohio bank, unless the superintendent of financial institutions determines, in the superintendent's discretion, due to the nature of the acquisition, it should not be subject to the limitations of this section; (c) The merger or consolidation of an Ohio bank with, or the transfer of assets from an Ohio bank to, another bank, whether previously existing or chartered for the purpose of the transaction; (d) Any other action that results in the direct or indirect control of an Ohio bank. (2) "Ohio bank" means a state bank or a national bank whose principal place of business is in this state. (B) Subject to division (C) of this section, a bank, bank holding company, federal savings association, or savings and loan holding company whose principal place of business is in this state or any other state may charter or otherwise acquire an Ohio bank, and a bank may acquire banking offices in this state by merger or consolidation with or transfer of assets and liabilities from a bank, savings bank, or savings association that has offices in this state, if, upon consummation of the acquisition, both of the following will apply: (1) The acquiring bank, bank holding company, federal savings association, or savings and loan holding company, with or through its affiliate banks, savings banks, and savings associations, does not control more than ten per cent of the total deposits of banks, savings banks, and savings associations in the United States, and either of the following applies: (a) The acquiring bank, acquiring bank holding company, federal savings association, or savings and loan holding company, with or through its affiliate banks, savings banks, and savings associations, does not control more than thirty per cent of the total deposits of banks, savings banks, and savings associations in this state. (b) The acquiring bank, acquiring bank holding company, federal savings association, or savings and loan holding company, with or through its affiliate banks, savings banks, and savings associations, controls more than thirty per cent of the total deposits of banks, savings banks, and savings associations in this state, and the superintendent approved the acquisition after determining the anticompetitive effects of the acquisition were clearly outweighed in the public interest by the probable effect of the transaction. (2) Except in the case of a foreign bank subject to Chapter 1119. of the Revised Code or a bank that by the terms of its articles of incorporation or association is not permitted to solicit or accept deposits other than trust funds, the Ohio bank or any bank that has banking offices in this state will be an insured bank as defined in section 3(h) of the "Federal Deposit Insurance Act," 92 Stat. 614 (1978), 12 U.S.C.A. 1813(h). (C)(1) Any bank holding company proposing to charter a state bank under this section shall comply with Chapter 1113. or 1114. of the Revised Code and any rules adopted to implement that chapter. (2) If, after the proposed acquisition, the acquiring bank or bank holding company will control an existing state bank the acquiring bank or bank holding company did not control before the acquisition, and the acquisition does not include the merger or consolidation of the existing state bank with another bank, the acquiring bank or bank holding company shall comply with section 1115.06 of the Revised Code and any rules adopted to implement that section. (3) If the proposed acquisition will be accomplished by means of a merger or consolidation with a state bank and the resulting bank of the merger or consolidation will be a state bank, the state bank shall comply with section 1115.11 of the Revised Code and any rules adopted to implement that section. (4) If the proposed acquisition will be accomplished by means of a transfer of assets and liabilities to a state bank, the state bank shall comply with section 1115.14 of the Revised Code and any rules adopted to implement that section. (5) If the proposed acquisition will be accomplished by forming a bank to which the bank to be acquired will transfer assets and liabilities, or with which the bank to be acquired will be merged or consolidated and the resulting bank will be a state bank, the acquiring bank holding company shall comply with section 1115.23 of the Revised Code and any rules adopted to implement that section. Last updated June 15, 2021 at 5:18 PM
Ohio Rev. Code § 1111.16 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.16
§ 1111.16. Fiduciary capacity for holding money and property
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) A trust company may receive and hold money and other property in a fiduciary capacity generally in trust as trustee unless the instrument or other authority appointing the trust company as trustee directs that the money and property be held, in whole or in part, separately from other money and property held in a fiduciary capacity. (B) Moneys held in a fiduciary capacity by a trust company may, pending distribution, payment of current obligations, or investment, be treated as a deposit in the trust company. Such moneys may also be deposited in an affiliate of the trust company that is authorized to receive deposits, or in any other institution that is authorized to receive deposits. In the event the trust company, affiliate, or other institution in which such moneys are deposited becomes insolvent, closes, or is suspended, the claims for such moneys shall be preferred. The assets of the trust company, affiliate, or other institution in which such moneys are deposited shall be impressed with a trust for the payment of such claims.
Ohio Rev. Code § 1119.09 — Ohio Revised Code / Title 11 / Chapter 1119 / § 1119.09
§ 1119.09. Pledging assets
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) To be licensed to operate an agency or branch in this state, a foreign bank shall pledge assets to the superintendent of financial institutions, of the kinds, in an amount, and in the manner prescribed by the superintendent, by placing the assets with a qualified custodian for safekeeping. The assets pledged are for the benefit of the agency's or branch's unaffiliated creditors. (B)(1) The value of the assets pledged in accordance with this section shall be computed based on the lesser of their principal amount or market value. (2) In determining the amount of assets a foreign bank is required to pledge for each agency or branch, the superintendent shall consider both of the following: (a) The amounts necessary or desirable to maintain a sound financial condition and to protect depositors, creditors, and the public interest; (b) The concentration of risk to any one borrower or group of related borrowers and the concentration of transfer risk to any one country, including the country in which the foreign bank is domiciled. (C) A foreign bank that has pledged assets as required by this section may receive any income paid on those assets while the foreign bank continues to conduct business in the ordinary course in this state and the superintendent has not issued a notice prohibiting the foreign bank's receipt of income paid on the assets the foreign bank has pledged. (D) A foreign bank that has pledged assets as required by this section shall maintain its pledge with the custodian after the foreign bank ceases to be licensed to operate the agency or branch, until the superintendent determines that the assets are no longer necessary for the protection of depositors, creditors, and the public interest. (E) To qualify to hold assets pledged as required by this section, a custodian must be one of the following: (1) A federal reserve bank located in this state or any branch of a federal reserve bank located in this state without regard to where the branch is located; (2) A bank that maintains a banking office in this state, if approved by the superintendent; (3) A trust company that maintains a trust service office in this state, if approved by the superintendent. (F) A custodian of assets pledged as required by this section shall do all of the following: (1) Hold the assets separate from all other assets of the pledging foreign bank and the custodian; (2) Segregate the assets pledged on the custodian's books and clearly identify them as pledged in accordance with this section; (3) Release the assets pledged only upon the order of the superintendent or the superintendent's designee.
Ohio Rev. Code § 1181.02 — Ohio Revised Code / Title 11 / Chapter 1181 / § 1181.02
§ 1181.02. Employees
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly The superintendent of financial institutions may appoint and employ such assistants, clerks, examiners, and other employees, and such professionals and agents, as the prompt execution of the duties of the superintendent's office requires, and may employ attorney examiners if the superintendent considers such assistants necessary.
Ohio Rev. Code § 1117.02 — Ohio Revised Code / Title 11 / Chapter 1117 / § 1117.02
§ 1117.02. Application for establishing banking office
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A bank with its principal place of business in this state proposing to establish a banking office shall submit an application to the superintendent of financial institutions. The superintendent shall determine whether to accept an application for processing within ten business days after receiving the application. The superintendent shall approve or disapprove the application within sixty days after accepting it unless approval is withheld under division (E) of this section. (B) If the superintendent accepts the application, the bank shall, within ten days after receipt of the superintendent's notice of acceptance, publish notice of its proposed banking office in a newspaper of general circulation in the county where the proposed banking office is to be located and in the county where the bank currently maintains its principal place of business. The notice shall state that comments on the proposed banking office must be delivered to the division of financial institutions within fourteen days after the date the notice is published, and shall provide the division's address. (C) If the superintendent determines any comment delivered to the division regarding a proposed banking office is relevant to the criteria set forth in this section for approval of a banking office, the superintendent shall investigate the comment in any manner the superintendent considers appropriate. (D) In determining whether to approve a proposed banking office, the superintendent shall consider all of the following: (1) The adequacy of the bank's management; (2) The adequacy of the bank's capital; (3) The effect establishment of the banking office will have on the interests of the bank's depositors and shareholders or members; (4) The bank's lending record in helping to meet the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with both the safe and sound operation of the bank and the "Community Reinvestment Act of 1977," 91 Stat. 1147, 12 U.S.C. 2901, as amended; (5) Any other reasonable criteria the superintendent may establish. (E)(1) If the superintendent determines, upon consideration of the criteria set forth in division (D) of this section, that the banking office should otherwise be approved, but the bank's lending record is not satisfactory in helping to meet the credit needs of its entire community as prescribed in division (D)(4) of this section, the superintendent shall withhold action on the application for the banking office and shall notify the bank of that decision. The bank shall, within sixty days after receipt of the notice from the superintendent, submit to the superintendent a written affirmative action lending program, which shall be a public record. The superintendent shall, within thirty days after receipt of the affirmative action lending program, determine whether the program is acceptable. If the program is not acceptable, or the bank fails to submit an affirmative action lending program within the sixty days, the superintendent shall disapprove the banking office. If the affirmative action lending program is acceptable, the superintendent shall approve the banking office. (2)(a) In order to determine whether a bank is complying with its affirmative action lending program, the superintendent may do either of the following: (i) The superintendent may require the bank to submit periodic reports that summarize actions it has taken to implement or maintain its affirmative action lending program. The reports shall be in a form prescribed by the superintendent, but shall not contain any information that identifies an applicant for a loan. The reports are public records and shall be made available to any person upon request. (ii) Upon written complaint by any person, or upon the superintendent's own initiative, the superintendent may hold a public hearing. The superintendent may hold no more than one hearing every two years on each affirmative action lending program. (b) If the superintendent determines, as a result of findings made under division (E)(2)(a) of this section, that a bank is not in compliance with its affirmative action lending program, the superintendent shall order the bank to comply within a period of time determined by the superintendent. Failure to comply with that order shall be a violation of a condition imposed by the superintendent for purposes of sections 1121.32 , 1121.33 , 1121.35 , and 1121.41 of the Revised Code. (3) As used in division (E) of this section, "affirmative action lending program" means a program to remedy any deficiency of a bank in helping to meet the credit needs of its entire community.
Ohio Rev. Code § 1127.99 — Ohio Revised Code / Title 11 / Chapter 1127 / § 1127.99
§ 1127.99. Penalty
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) Whoever violates section 1127.06 , 1127.08 , or 1127.11 of the Revised Code is guilty of a felony of the third degree. (B) Whoever violates section 1127.02 or 1127.03 of the Revised Code is guilty of a felony of the fourth degree. (C) Whoever violates section 1127.09 of the Revised Code is guilty of a felony of the fifth degree. Disclaimer Contact About
Ohio Rev. Code § 1112.25 — Ohio Revised Code / Title 11 / Chapter 1112 / § 1112.25
§ 1112.25. Revocation for suspension or termination of authority, appointment of receiver, and other acts
Status: in_force

September 14, 2016 House Bill 229 - 131st General Assembly (A) The superintendent of financial institutions may revoke a trust company's license to do trust business in this state, if the superintendent determines, after notice in accordance with section 1121.37 of the Revised Code and opportunity for hearing in accordance with section 1121.38 of the Revised Code, that any of the following factors is true: (1) The existence of the family trust company, or its authority to transact business, has been terminated or suspended under the laws of the state or country in which the trust company is incorporated. (2) The family trust company's authority to transact trust business has been terminated or suspended under the laws of the state or country in which the trust company is incorporated, or its license to engage in trust business has been terminated or suspended under the laws of any other jurisdiction in which the family trust company had been licensed to engage in trust business. (3) A receiver, liquidator, or conservator has been appointed for the family trust company under the laws of the state or country in which the family trust company is incorporated or for its business in any other jurisdiction in which the family trust company transacts business. (4) The family trust company is violating or has violated, or the superintendent has reasonable cause to believe the family trust company is about to violate, any of the following: (a) A law or rule; (b) A condition imposed by the superintendent in writing in connection with approving an application or notice or granting any other request of the family trust company; (c) A written agreement the family trust company entered into with the superintendent; (d) A cease and desist order issued by the superintendent under section 1121.32 of the Revised Code. (5) The family trust company is engaging or has engaged, or the superintendent has reasonable cause to believe the family trust company is about to engage, in any unsafe or unsound practice. (6) The family trust company has ceased to pay its debts in the ordinary course of business, is incapable of paying its debts as they mature, has liabilities in excess of its assets, or is subject to or has applied for an adjudication in bankruptcy, reorganization, or other relief under any bankruptcy, reorganization, insolvency, or moratorium law. (7) The family trust company has ceased or failed to conduct trust business in this state. (8) The family trust company has failed to pay any fees, charges, forfeitures, or penalties assessed under Chapters 1101. to 1127. of the Revised Code. (B)(1) If the superintendent has reasonable cause to believe any of the factors in division (A) of this section is true, and the superintendent determines it is necessary to protect the persons and interests in this state that the family trust company serves as a fiduciary or the property in this state that the trust company holds title to or an interest in a fiduciary, the superintendent may immediately suspend the family trust company's license to do trust business in this state. (2) Within ten days after the order suspending a family trust company's license to do trust business in this state is served upon it, the family trust company may apply to the court of common pleas of any county in this state in which the family trust company is doing business, or the court of common pleas of Franklin county, for an injunction setting aside, limiting, or suspending enforcement of the suspension order pending an opportunity for hearing on whether the family trust company's license to do trust business in this state should be revoked, and the court has jurisdiction to issue the injunction.
Ohio Rev. Code § 1125.22 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.22
§ 1125.22. Powers of receiver
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A receiver shall have all of the following powers: (1) To take possession of all books, records of account, and assets of the state bank; (2) To collect all debts, claims, and judgments belonging to the bank and to take any other action, including the lending of money, necessary to preserve and liquidate the assets of the bank; (3) To execute in the name of the bank any instrument necessary or proper to effectuate the receiver's powers or perform its duties as receiver; (4) To initiate, pursue, compromise, and defend litigation involving any right, claim, interest, or liability of the bank; (5) To exercise all fiduciary functions of the bank as of the date of appointment as receiver; (6) To borrow money as necessary in the liquidation of the bank, and to secure those borrowings by the pledge or mortgage of assets of the bank; (7) To abandon or convey title to any holder of a deed of trust, mortgage, or similar lien against property in which the bank has an interest, whenever the receiver determines that continuing to claim that interest is burdensome and of no advantage to the bank or its account holders, creditors, shareholders, or members; (8) To sell any and all assets, to compromise any debt, claim, obligation, or judgment due to the bank, to discontinue any pending action or other proceeding, and to sell or otherwise transfer all or a substantial portion of the assets or liabilities of the bank; (9) To establish ancillary receiverships in any jurisdiction the receiver determines necessary; (10) To distribute assets in accordance with this chapter; (11) To take any other action incident to the powers set forth in division (A) of this section. (B) Unless specifically indicated to the contrary, the powers conferred upon a receiver under this section may be exercised without court approval. However, nothing in this section shall be construed to prevent a receiver from obtaining court approval when the receiver determines approval is appropriate under the circumstances.
Ohio Rev. Code § 1112.02 — Ohio Revised Code / Title 11 / Chapter 1112 / § 1112.02
§ 1112.02. Applicability to family trust company
Status: in_force

September 14, 2016 House Bill 229 - 131st General Assembly Except as otherwise provided in this chapter or in any other provision of the Revised Code, a family trust company is subject to this chapter only to the extent that the family trust company transacts trust business in this state.
Ohio Rev. Code § 1109.43 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.43
§ 1109.43. Investing in bankers' bank or holding company
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) For purposes of this section: (1) "Bankers' bank" means a bank organized to engage exclusively in providing services to other depository institutions and depository institution holding companies and their officers, directors, and employees. (2) "Bankers' bank holding company" means a corporation that owns or controls, directly or indirectly, a majority of the shares of the capital stock of a bankers' bank, or controls in any manner the election of a majority of the directors of a bankers' bank. (3) "Depository institution" means a bank, savings association, savings bank, or credit union. (B) A state bank may invest, in the aggregate, up to ten per cent of its capital in shares of bankers' banks or bankers' bank holding companies. (C)(1) The voting shares of a bankers' bank shall be owned by twenty or more depository institutions or depository institution holding companies, and no depository institution or depository institution holding company shall own, directly or indirectly, more than fifteen per cent of the voting shares of a bankers' bank. (2) The voting shares of a bankers' bank shall be owned, directly or indirectly, exclusively by depository institutions, depository institution holding companies, and persons who hold the shares under, or initially acquired them through, a plan for the benefit of the bankers' bank's officers and employees.
Ohio Rev. Code § 1116.01 — Ohio Revised Code / Title 11 / Chapter 1116 / § 1116.01
§ 1116.01. Definitions
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly As used in this chapter, unless the context requires otherwise: (A) "Acquiree mutual bank" means any state bank, savings association, or savings bank that meets both of the following conditions: (1) It is acquired by a mutual holding company as part of, and concurrently with, a mutual holding company reorganization. (2) It is in the mutual form immediately prior to the acquisition. (B) "Reorganization plan" means the plan to reorganize into a mutual holding company structure described in section 1116.07 of the Revised Code. (C) "Reorganizing mutual state bank" means a mutual state bank that proposes to reorganize into a mutual holding company structure in accordance with this chapter. (D) "Resulting mutual holding company" means a bank holding company organized in mutual form under this chapter and, unless otherwise indicated, a subsidiary holding company controlled by a mutual holding company organized under this chapter. (E) "Resulting stock state bank" means a stock state bank that is organized as a subsidiary of a reorganizing mutual state bank to receive a substantial part of the assets and liabilities, including all deposit accounts, of the reorganizing mutual state bank upon consummation of the reorganization. (F) "Stock bank" means a bank that has an ownership structure in the form of shares of stock and is doing business under authority granted by the superintendent of financial institutions or the bank regulatory authority of another state or the United States. (G) "Subsidiary holding company" means a stock company that is controlled by a mutual holding company and that owns the stock of a stock state bank whose depositors have membership rights in the parent mutual holding company.
Ohio Rev. Code § 1114.02 — Ohio Revised Code / Title 11 / Chapter 1114 / § 1114.02
§ 1114.02. Formation; application for incorporation
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Five or more natural persons, at least one of whom is a resident of this state, may, with the approval of the superintendent of financial institutions, incorporate a mutual state bank. (B) The persons proposing to incorporate a mutual state bank shall apply for approval to incorporate the bank by submitting the application prescribed by the superintendent, which application shall include all of the following: (1) The proposed articles of incorporation and code of regulations; (2) An application for reservation of a name in accordance with section 1103.07 of the Revised Code, if reservation is desired by the incorporators and has not been previously filed; (3) The location and a description of the proposed initial banking office; (4) Information to demonstrate the proposed bank will satisfy the requirements of division (C) of section 1114.03 and any other provision of the Revised Code identified by the superintendent; (5) Any other information the superintendent requires.
Ohio Rev. Code § 1114.09 — Ohio Revised Code / Title 11 / Chapter 1114 / § 1114.09
§ 1114.09. Amendments to articles of incorporation
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Before any member deposits have been received, the incorporators may, by unanimous written action and subject to the requirements of this section, adopt amendments to the mutual state bank's articles of incorporation or amended articles of incorporation to change any provision of, or add any provision that may properly be included in, the articles of incorporation. (B) Amended articles of incorporation shall set forth all provisions required in, and only provisions that may properly be in, original articles of incorporation or amendments to articles of incorporation at the time the amended articles of incorporation are adopted, and shall state that they supersede the existing articles of incorporation. (C)(1) If the incorporators propose the adoption of any amendment to a mutual state bank's articles of incorporation or amended articles of incorporation, the bank shall send to the superintendent of financial institutions a copy of the proposed amendment or amended articles of incorporation for review and approval prior to adoption by the incorporators. (2) Upon receiving a proposed amendment or amended articles of incorporation, the superintendent shall conduct whatever examination the superintendent considers necessary to determine if both of the following conditions are satisfied: (a) The proposed amendment or amended articles of incorporation comply with the requirements of the Revised Code. (b) The proposed amendment or amended articles of incorporation will not adversely affect the interests of the bank's depositors and creditors. (3) Within forty-five days after receiving the proposed amendment or amended articles of incorporation, the superintendent shall notify the bank of the superintendent's approval or disapproval of the proposed amendment or amended articles of incorporation unless the superintendent determines additional information is required. In that event, the superintendent shall request the information in writing within twenty days after the date the proposed amendment or amended articles of incorporation were received. The bank shall have thirty days to submit the information to the superintendent. The superintendent shall notify the bank of the superintendent's approval or disapproval of the proposed amendment or amended articles of incorporation within forty-five days after the date the additional information is received. If the proposed amendment or amended articles of incorporation are disapproved by the superintendent, the superintendent shall notify the bank of the reasons for the disapproval. (4) If the superintendent fails to approve or disapprove the proposed amendment or amended articles of incorporation within the time period required under division (C)(3) of this section, the proposed amendment or amended articles of incorporation shall be considered approved. (5) If the proposed amendment or amended articles of incorporation are approved, in no event shall that approval be construed or represented as an affirmative endorsement of the amendment or amended articles of incorporation by the superintendent. (D)(1) Upon their adoption of any approved amendment to a mutual state bank's articles of incorporation, the incorporators shall send to the superintendent a certificate, signed by all the incorporators, containing a copy of the resolution adopting the amendment and a statement of the manner of and basis for its adoption. (2) Upon their adoption of approved amended articles of incorporation, the incorporators shall send to the superintendent a copy of the amended articles of incorporation, accompanied by a certificate, signed by all the incorporators, containing a copy of the resolution adopting the amended articles of incorporation and a statement of the manner of and basis for its adoption. (E) Upon receiving a certificate required by division (D) of this section, the superintendent shall conduct whatever examination the superintendent considers necessary to determine if the manner of and basis for the adoption of the amendment or amended articles of incorporation comply with the requirements of the Revised Code. (F)(1) Within thirty days after receiving a certificate required by division (D) of this section, the superintendent shall approve or disapprove the amendment or amended articles of incorporation. If the superintendent approves the amendment or amended articles of incorporation, the superintendent shall forward a certificate of that approval, a copy of the certificate required by division (D) of this section, and a copy of the amendment or amended articles of incorporation to the secretary of state, who shall file the documents. Upon filing by the secretary of state, the amendment or amended articles of incorporation shall be effective. (2) If the superintendent fails to approve or disapprove the amendment or amended articles of incorporation within thirty days after receiving a certificate required by division (D) of this section, the bank shall forward a copy of the certificate and a copy of the amendment or amended articles of incorporation to the secretary of state, who shall file the documents. Upon filing by the secretary of state, the amendment or amended articles of incorporation shall be effective.
Ohio Rev. Code § 1109.33 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.33
§ 1109.33. Investing in stock of federally chartered banks
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly A state bank may apply to the superintendent of financial institutions for permission to invest, subject to the conditions and requirements prescribed by the superintendent, an amount, in the aggregate, not exceeding ten per cent of a stock state bank's paid-in capital and surplus or a mutual state bank's retained earnings in the stock of banks or corporations chartered or incorporated under the laws of the United States, including section 25a of the "Federal Reserve Act of 1913," 12 U.S.C. 611, as amended, and principally engaged in international or foreign banking, or in banking in a dependency or insular possession of the United States, either directly or through the agency, ownership, or control of local institutions in foreign countries, dependencies, or insular possessions.
Ohio Rev. Code § 1125.14 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.14
§ 1125.14. Recommendation of conservator
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) The conservator shall evaluate the business and assets of the state bank and, after conducting whatever investigations the circumstances may require, shall recommend to the superintendent of financial institutions that either the conservatorship of the bank be terminated or the superintendent appoint a receiver and the bank be liquidated as otherwise provided in this chapter. The conservator shall consult with the board of directors of the bank before making the recommendation. (B) The conservator of the bank may submit a plan to the superintendent for approval to restructure the bank in a manner designed to return the bank to the control of its shareholders or members. As part of the plan, the conservator may take any steps the superintendent approves regarding the management, operations, or assets of the bank, including the sale of some or all of the bank's assets. The conservator shall consult with the board of directors of the bank regarding any proposed sale of all or substantially all of the bank's assets. (C) The superintendent may require the conservator to submit the plan to the shareholders or members of the bank as provided in division (D) of this section or to submit a new or revised plan for consideration by the superintendent. (D) If the conservator's plan is submitted to the shareholders or members pursuant to division (C) of this section, the superintendent shall designate the contents of notice of the vote that is to be forwarded from the conservator to the shareholders or members and shall designate the date upon which notice is to be forwarded. The date of the shareholder or member vote shall be determined by the superintendent, but shall not occur earlier than seven days or later than forty-five days after the date of the notice. If the majority of the shareholders or members do not approve the plan, the superintendent may request submission of a new plan or proceed to appoint a receiver without regard to the grounds for appointment of a receiver as otherwise provided in this chapter. If the majority of the shareholders or members approve the plan, the superintendent may terminate the conservatorship, and the shareholders or members shall elect directors to manage the bank. (E) The superintendent, at any time, including after the date notice of a vote is provided to shareholders or members of the bank under division (D) of this section, may revoke a previously approved plan of the conservator and either provide for, or request submission of, a new plan or proceed with receivership under this chapter.
Ohio Rev. Code § 1121.61 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.61
§ 1121.61. Bona fide errors
Status: in_force

March 20, 2019 House Bill 489 - 132nd General Assembly (A) As used in this section, "bona fide error" means an unintentional clerical, calculation, computer malfunction or programming, or printing error. (B) A state bank, trust company, or regulated person shall not be held civilly liable in any action brought under Title XI or under Chapter 1309., 1317., or 1345. of the Revised Code, and shall not be subject to any sanction by the superintendent of financial institutions, if all of the following conditions are met: (1) The bank, trust company, or person shows by a preponderance of evidence that the compliance failure was not intentional and resulted from a bona fide error notwithstanding the maintenance of procedures reasonably adapted to avoid any such error. (2) Within sixty days after discovering the error, and prior to the initiation of any action by the superintendent or the receipt of written notice of the error from the consumer, the bank, trust company, or person notifies the superintendent and the consumer of the error and the manner in which the bank, trust company, or person intends to make full restitution to the consumer. (3) The bank, trust company, or person promptly makes reasonable restitution to the consumer. (C) If, in the event of a compliance failure, the bank, trust company, or regulated person does not meet the conditions set forth in division (B) of this section, a consumer injured by the error has a cause of action to recover damages. Such an action may not, however, be maintained as a class action. Disclaimer Contact About
Ohio Rev. Code § 1181.03 — Ohio Revised Code / Title 11 / Chapter 1181 / § 1181.03
§ 1181.03. Fidelity bonds
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Before entering upon the discharge of the duties of the office of the superintendent of financial institutions, the superintendent shall give bond to the state in the sum of one million dollars with sureties approved by the governor and conditioned on the faithful discharge of the official duties of the office. The bond, with the approval of the governor and with the superintendent's oath of office endorsed on it, shall be filed with the office of the secretary of state. (B) Before entering upon the discharge of the duties of their respective offices, the deputy superintendent for banks, the deputy superintendent for credit unions, and the deputy superintendent for consumer finance shall each give bond to the state in the sum of five hundred thousand dollars with sureties approved by the superintendent and conditioned on the faithful performance of their respective duties. The bonds shall be filed with the office of the secretary of state. (C) The superintendent shall require of each other employee and each agent of the division of financial institutions a bond, conditioned on the faithful performance of each employee's and agent's respective duties, in an amount not less than five thousand dollars that the superintendent determines to be acceptable. The bonds may, in the discretion of the superintendent, be individual, schedule, or blanket bonds. The bonds shall be filed with the office of the secretary of state. (D) The division shall pay the cost or premium of the bonds required by this section from funds appropriated to the division for that purpose.
Ohio Rev. Code § 1116.09 — Ohio Revised Code / Title 11 / Chapter 1116 / § 1116.09
§ 1116.09. Membership rights
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A mutual holding company shall do all of the following: (1) Confer upon existing and future depositors of the resulting stock state bank the same membership rights in the mutual holding company as were conferred upon depositors by the articles of incorporation or code of regulations of the reorganizing mutual state bank in effect immediately prior to the reorganization; (2) Confer upon existing and future depositors of any acquiree mutual bank or any bank that is in the mutual form when acquired by the mutual holding company, the same membership rights in the mutual holding company as were conferred upon depositors by the articles of incorporation or code of regulations of the acquired mutual bank in effect immediately prior to the acquisition, provided that if the acquired mutual bank is merged into another subsidiary state bank from which the mutual holding company draws members, the depositors of the acquired mutual bank shall receive the same membership rights as the depositors of the subsidiary state bank into which the acquired mutual bank is merged; (3) Confer upon the borrowers of the resulting stock state bank who are borrowers at the time of reorganization the same membership rights in the mutual holding company as were conferred upon them by the articles of incorporation or code of regulations of the reorganizing mutual state bank in effect immediately prior to the reorganization, but not any membership rights in connection with any borrowings made after the reorganization; (4) Confer upon the borrowers of any acquiree mutual bank or any bank that is in the mutual form when acquired by the mutual holding company who are borrowers at the time of the acquisition, the same membership rights in the mutual holding company as were conferred on them by the articles of incorporation or code of regulations of the acquired mutual bank in effect immediately prior to the acquisition, but not any membership rights in connection with any borrowings made after the acquisition; provided, however, that if the acquired mutual bank is merged into another bank from which the mutual holding company draws members, the borrowers of the acquired mutual bank shall instead receive the same grandfathered membership rights as the borrowers of the subsidiary state bank into which the acquired mutual bank is merged. (B) A mutual holding company that acquires a bank in the stock form, other than a resulting stock state bank or an acquiree mutual bank, shall not confer any membership rights upon the depositors and borrowers of the stock bank, unless such stock bank is merged into a subsidiary stock state bank from which the mutual holding company draws its members, in which case the depositors of the stock bank shall receive the same membership rights as other depositors of the subsidiary stock state bank into which the stock bank is merged.
Ohio Rev. Code § 1181.01 — Ohio Revised Code / Title 11 / Chapter 1181 / § 1181.01
§ 1181.01. Superintendent is chief executive officer; qualifications; appointment of deputy superintendents
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly The superintendent of financial institutions shall be the chief executive officer of the division of financial institutions. (A) The superintendent shall have at least five years of experience in the financial services industry or in the examination or regulation of financial institutions. (B) The superintendent shall appoint a deputy superintendent for banks, who shall possess at least one of the following qualifications prior to the deputy superintendent's appointment: (1) Not less than five years of experience as a senior level officer in a bank, savings and loan association, or savings bank, a bank holding company, or a savings and loan holding company or as a senior level manager or senior professional with a primary business of, or professional focus on, auditing or providing professional advice to such institutions; (2) Not less than five years of experience as a senior level supervisor in the examination or regulation of banks, savings and loan associations, or savings banks; (3) Not less than a total of five years of experience in any combination of the positions described in divisions (B)(1) and (2) of this section. (C) The superintendent shall appoint a deputy superintendent for credit unions, who shall possess at least one of the following qualifications prior to the deputy superintendent's appointment: (1) Not less than five years of experience as a senior level officer in a credit union or as a senior level manager or senior professional with a primary business of, or professional focus on, auditing or providing professional advice to credit unions; (2) Not less than five years of experience as a senior level supervisor in the examination or regulation of credit unions; (3) Not less than a total of five years of experience in any combination of the positions described in divisions (C)(1) and (2) of this section. (D) The superintendent shall appoint a deputy superintendent for consumer finance, who shall possess at least one of the following qualifications prior to the deputy superintendent's appointment: (1) Not less than five years of experience as an owner, officer, or senior level manager of one or more consumer finance companies, as a senior level manager of a mortgage banking affiliate of a bank, savings and loan association, savings bank, bank holding company, or savings and loan holding company, or as a senior level manager or senior professional with a primary business of, or professional focus on, auditing or providing professional advice to consumer finance companies; (2) Not less than five years of experience as a senior level supervisor in the examination or regulation of consumer finance companies; (3) Not less than a total of five years of experience in any combination of the positions described in divisions (D)(1) and (2) of this section. (E) The deputy superintendents appointed by the superintendent of financial institutions pursuant to this section shall serve in the unclassified civil service.
Ohio Rev. Code § 1112.11 — Ohio Revised Code / Title 11 / Chapter 1112 / § 1112.11
§ 1112.11. Limitation of powers before licensure
Status: in_force

September 14, 2016 House Bill 229 - 131st General Assembly The existence of any licensed family trust company shall date from the filing of its articles of incorporation or articles of organization, from which time it shall have and may exercise the incidental powers conferred by law upon corporations or limited liability companies, as applicable. However, until it has obtained a license issued under this chapter, a family trust company shall not transact any business as a licensed family trust company, other than the election of officers, the taking and approving of their official bonds, the receipts of payment upon stock subscriptions, and other business incidental to its organization.
Ohio Rev. Code § 1109.20 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.20
§ 1109.20. Interest and finance charge rates
Status: in_force

March 20, 2019 House Bill 489 - 132nd General Assembly (A) A bank may contract for and receive interest or finance charges at any rate or rates agreed upon or consented to by the parties to the loan contract, extension of credit, or revolving credit agreement, but not exceeding an annual percentage rate of twenty-five per cent. In addition, a bank may charge, collect, and receive, as interest, other fees and charges that are agreed upon by the bank and the borrower, including, but not limited to, periodic membership fees, cash advance fees, charges for exceeding a designated credit limit, charges for late payments, charges for the return of a dishonored check or other payment instrument, guarantee fees, origination fees, processing fees, application fees, and prepayment fees. Any fees and charges charged, collected, or received by a bank in accordance with this division shall not be included in the computation of the annual percentage rate or the rates of interest or finance charges for purposes of applying the twenty-five per cent limitation. The computation of the loan balance on which interest and finance charges are assessed and the method of compounding interest on the balance shall be as agreed upon by the bank and the borrower. (B) For the purposes of section 85 of the "National Bank Act," 48 Stat. 191 (1933), 12 U.S.C.A. 85, and section 521 of the "Depository Institutions Deregulation and Monetary Control Act of 1980," 94 Stat. 132, 12 U.S.C.A. 1831d, both of the following apply: (1) All the interest and finance charges and other fees and charges authorized under division (A) of this section are deemed to be interest and may be charged, collected, and received as interest by a bank. (2) All terms, conditions, and other provisions authorized by this section and other provisions contained in any agreement with the borrower, including, but not limited to, terms, conditions, and other provisions relating to the method of determining the balance upon which interest or finance charges are applied, time periods within which fees and charges may be avoided, reasons for default and rights to cure any default, rights to accelerate payments, account cancellation, choice of law, and change-in-terms requirements, are deemed to be material to the determination of the interest rate. (C) Any agreement between a bank and a borrower, wherever the borrower's place of residence, shall be governed solely by the laws of this state and federal law, unless otherwise provided for in the agreement. (D) Subject to any requirements under applicable federal law, a bank and a borrower may specify in their agreement any terms and conditions for modifying or amending the agreement. (E) The charging, collection, or receipt of the interest and finance charges, and other fees and charges authorized under this section are deemed not to violate any provision of the Revised Code that prescribes, regulates, or limits any fee, charge, rate of interest, or finance charges.
Ohio Rev. Code § 1121.45 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.45
§ 1121.45. Meeting with regulated persons
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) The superintendent of financial institutions may call and convene a meeting with the regulated persons the superintendent determines to be appropriate at a location within this state and at a date and time established by the superintendent upon notice served in accordance with section 1121.37 of the Revised Code. The regulated persons notified of the meeting shall attend the meeting unless excused by the superintendent for reasonable cause at the superintendent's sole discretion. Failure of a regulated person to attend a meeting called and convened in accordance with this division, unless excused by the superintendent, is grounds for suspending or removing the regulated person from office or imposing civil penalties against the regulated person. (B) If a quorum of the board of directors of a bank or an affiliate of a bank attends a meeting called and convened by the superintendent pursuant to division (A) of this section, they may convene a meeting of the board of directors to address matters related to the superintendent's meeting, notwithstanding any contrary provision of the bank's articles of incorporation, code of regulations, or bylaws related to notice of a board of directors meeting. (C) The records of any meeting called and convened in accordance with division (A) of this section and the discussions, information, and documentation presented at the meeting are, in the possession of any person, confidential and privileged information and shall not be disclosed except as provided in section 1121.18 of the Revised Code.
Ohio Rev. Code § 1103.07 — Ohio Revised Code / Title 11 / Chapter 1103 / § 1103.07
§ 1103.07. Bank name
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) The name of a state bank: (1) Shall include either of the following: (a) "Bank," "banking," "company," or "co."; (b) "Savings," "loan," "savings and loan," "building and loan," or "thrift." (2) May include the word "state," "federal," "association," or, if approved by the superintendent of financial institutions, another term; (3) Shall not, as determined by the superintendent, be likely to mislead the public as to the bank's character or purpose; (4) Shall, as determined by the superintendent, be distinguishable from all names already recorded by existing financial institutions in this state or for which reservations under this section are in effect, unless the existing financial institution that earliest recorded a name from which the proposed name is not distinguishable, or the person that reserved a name from which the proposed name is not distinguishable, has filed its written consent with the superintendent and with the secretary of state pursuant to division (C) of section 1701.05 of the Revised Code. (B) To reserve a name for a state bank to be organized under Chapter 1113. or 1114. of the Revised Code or for an existing state bank, a person shall submit to the superintendent a written application for the exclusive right to use a specified name. If the superintendent finds that the specified name satisfies the requirements for a state bank name and is available for use in accordance with this section, the superintendent shall endorse approval on the application and forward the reservation to the secretary of state for filing. (C)(1) Reservation of a name pursuant to division (B) of this section gives the applicant the exclusive right to use the name as follows: (a) If the reservation application is submitted to the superintendent prior to submitting an application to incorporate a new state bank or amended articles of incorporation or an amendment to the articles of incorporation, for one hundred eighty days after the date on which the secretary of state filed the reservation endorsed by the superintendent, and for one year after the date on which the secretary of state filed the reservation endorsed by the superintendent if the superintendent extends the reservation; (b) If an application to incorporate a new state bank or amended articles of incorporation or an amendment to the articles of incorporation for an existing state bank is submitted to the superintendent concurrently with the reservation application or during the time a previously filed reservation remains in effect, from the date on which the secretary of state filed the reservation endorsed by the superintendent until the superintendent approves or disapproves the incorporation of the new state bank or the amended articles of incorporation or amendment to the articles of incorporation for an existing state bank. (2) The superintendent shall, on behalf of a state bank or other person that has reserved a name pursuant to this section, endorse and forward to the secretary of state any additional name reservations required to maintain the reservation of the name under section 1701.05 of the Revised Code for as long as the name reservation is in effect pursuant to division (C)(1) of this section. (D) For purposes of this section, a name is recorded if it is either of the following: (1) The name of a bank, savings bank, or savings association in its articles of incorporation or articles of association on the records of the secretary of state, superintendent of financial institutions, office of the comptroller of the currency, or any of their successors; (2) Registered as, or as part of, a trade name or service mark with the secretary of state. (E)(1) Absent the express written permission of the state bank, no person shall use the name of a state bank in an advertisement, solicitation, promotional, or other material in a way that may mislead another person, or cause another person to be misled, into believing that the person issuing the advertisement, solicitation, promotional, or other material is associated or affiliated with the state bank. (2) A state bank injured by a violation of division (E)(1) of this section may bring an action in law or equity for recovery of damages, a temporary restraining order, an injunction, or any other available remedy.
Ohio Rev. Code § 1113.03 — Ohio Revised Code / Title 11 / Chapter 1113 / § 1113.03
§ 1113.03. Notice of the proposed incorporation
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Within ten days after receipt from the superintendent of financial institutions of notice of acceptance of an application for approval to incorporate a stock state bank, the incorporators shall publish notice of the proposed incorporation in a newspaper of general circulation in the county where the bank's initial banking office is to be located. The incorporators shall publish the notice once a week for two weeks and furnish a certified copy of it to the superintendent. The notice shall specify the name of the proposed bank, its location, the amount of the proposed capital, the names of the incorporators, the address of the superintendent, and the date by which comments on the application must be filed with the superintendent, which date shall be thirty days after the date of the first publication of the notice. (B) If any comments on the application are filed with the superintendent within the thirty-day period prescribed in division (A) of this section, the superintendent shall determine whether the comments are relevant to the requirements for incorporation of a stock state bank and, if so, investigate the comments in the manner the superintendent considers appropriate. (C) The superintendent shall examine all of the facts connected with the application to determine if all of the following requirements are met: (1) The proposed articles of incorporation and code of regulations, application for reservation of name, applicable fees, and other items required meet the requirements of the Revised Code. (2) The convenience and needs of the public will be served by the proposed bank. (3) The population and economic characteristics of the area primarily to be served afford reasonable promise of adequate support for the proposed bank. (4) The competence, experience, and integrity of the proposed directors and officers are such as to command the confidence of the community and warrant the belief that the business of the proposed bank will be honestly and efficiently conducted. (5) The capital of the proposed bank is adequate in relation to the amount and character of the anticipated business of the bank and the safety of prospective depositors. (D) Within one hundred eighty days following the date of acceptance of the application, the superintendent shall approve or disapprove the incorporation of the proposed bank upon the basis of the examination. In giving approval, the superintendent may impose conditions to be met prior to the issuance of a certificate of authority to commence business under section 1113.09 of the Revised Code. (E) If the superintendent approves the application, the superintendent shall make a certificate to that effect and forward the certificate and the articles of incorporation of the proposed bank to the secretary of state for filing.
Ohio Rev. Code § 1125.23 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.23
§ 1125.23. Presenting and disposing of claims
Status: in_force

March 20, 2019 House Bill 489 - 132nd General Assembly (A) The receiver shall promptly cause notice of the claims procedure to be published, in print or in a comparable electronic format, once a month for two consecutive months in a local newspaper of general circulation and to be mailed to each person whose name appears as a creditor upon the books of the state bank, at the last address of record. (B)(1) All parties having claims of any kind against the bank, including prior judgments and claims of security, preference, priority, and offset, shall present their claims substantiated by legal proof to the receiver within one hundred eighty days after the date of the first publication of notice of the claims procedure or after actual receipt of notice of the claims procedure, whichever occurs first. (2) Within one hundred eighty days after receipt of a claim, the receiver shall notify the claimant in writing whether the claim has been allowed or disallowed. The receiver may reject any claim in whole or in part, or may reject any claim of security, preference, priority, or offset against the bank. Any claimant whose claim has been rejected by the receiver shall petition the court for a hearing on the claim within sixty days after the date the notice was mailed or be forever barred from asserting the rejected claim. (C) Any claims filed after the claim period and subsequently accepted by the receiver or allowed by the court, shall be entitled to share in the distribution of assets only to the extent of the undistributed assets in the hands of the receiver on the date the claims are accepted or allowed.
Ohio Rev. Code § 1119.17 — Ohio Revised Code / Title 11 / Chapter 1119 / § 1119.17
§ 1119.17. Reporting income and condition
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Each foreign bank licensed under this chapter shall file with the superintendent of financial institutions any reports the superintendent may prescribe in the form and manner and containing the information the superintendent prescribes. (B) When the superintendent requires banks and trust companies to report their income and condition in accordance with section 1121.21 of the Revised Code, the superintendent shall require each foreign bank licensed under this chapter to report the income and condition of its representative offices, agencies, and branches in this state.
Ohio Rev. Code § 1114.06 — Ohio Revised Code / Title 11 / Chapter 1114 / § 1114.06
§ 1114.06. Certificate of authority to commence business
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A mutual state bank organized under this chapter shall not accept deposits, incur indebtedness, or transact any business other than business that is incidental to its organization until the bank receives a certificate of authority to commence business issued by the superintendent of financial institutions under section 1114.07 of the Revised Code. (B) The bank shall file a report with the superintendent when it has done everything required by the superintendent before it can be authorized to commence business. (C) Upon receipt of the report referred to in division (B) of this section, the superintendent shall examine the affairs of the bank and determine whether the bank has complied with all of the requirements necessary to entitle it to engage in business.
Ohio Rev. Code § 1116.12 — Ohio Revised Code / Title 11 / Chapter 1116 / § 1116.12
§ 1116.12. Deposit accounts
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly Each person who holds a deposit account in a reorganizing mutual state bank or any acquiree mutual state bank immediately before the reorganization shall receive, upon consummation of the reorganization, without payment, an identical deposit account in the resulting stock state bank or acquiree mutual state bank.
Ohio Rev. Code § 1121.32 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.32
§ 1121.32. Notice of charges and intent to issue cease and desist order
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) The superintendent of financial institutions may issue and serve a notice of charges and intent to issue a cease and desist order upon a bank, trust company, or regulated person, if, in the opinion of the superintendent, either of the following applies to the bank, trust company, or regulated person: (1) The bank, trust company, or regulated person is engaging, has engaged, or, the superintendent has reasonable cause to believe, is about to engage in an unsafe or unsound practice in conducting the bank's or trust company's business; (2) The bank, trust company, or regulated person is violating, has violated, or, the superintendent has reasonable cause to believe, is about to violate any of the following: (a) A law or rule; (b) A condition imposed in writing by the superintendent in connection with granting an application or notice that is subject to the superintendent's approval or an opportunity for the superintendent to disapprove or other request by the bank, trust company, or regulated person; (c) A written agreement entered into with the superintendent. (B) The notice of charges and intent to issue as cease and desist order shall include all of the following: (1) A statement of the violation or violations or unsafe or unsound practice or practices alleged; (2) A statement of the facts constituting the violation or violations or unsafe or unsound practice or practices alleged; (3) Notice that the bank, trust company, or regulated person is entitled to a hearing, in accordance with section 1121.38 of the Revised Code, to determine whether a cease and desist order should be issued against the bank, trust company, or regulated person, if the bank, trust company, or regulated person requests the hearing within thirty days of service of the notice; (4) Notice that, if the bank, trust company, or regulated person makes a timely request for a hearing, the bank, trust company, or regulated person may appear at the hearing in person or by attorney or by presenting positions, arguments, and contentions in writing, and at the hearing may present evidence and examine witnesses for and against the bank, trust company, or regulated person. (5) Notice that failure of the bank, trust company, or regulated person to make a timely request for a hearing to determine whether a cease and desist order should be issued or to appear at the hearing, in person, by attorney, or by writing, is consent by the bank, trust company, or regulated person to the issuance of the cease and desist order. (C) The superintendent may issue a cease and desist order against the bank, trust company, or regulated person, if any of the following applies: (1) The bank, trust company, or regulated person consents to the issuance of the cease and desist order; (2) Upon the record of the hearing the superintendent finds a violation or unsafe or unsound practice has been established; (3) The superintendent determines the bank's or trust company's books and records are too incomplete or inaccurate to permit the superintendent, through the normal supervisory process, to determine the financial condition of the bank or trust company or the details or purpose of one or more transactions that may have a material effect on the financial condition of the bank or trust company; (4) The superintendent finds the violation or unsafe or unsound practice alleged is likely, prior to completion of the hearing, to cause any of the following: (a) The bank's or trust company's insolvency; (b) Significant dissipation of the bank's or trust company's earnings or assets; (c) Weakening of the bank's or trust company's condition or other prejudice to the interests of the bank's depositors or trust company's beneficiaries. (D) A cease and desist order may require the bank, trust company, or regulated person to cease and desist from each violation or unsafe or unsound practice, to correct or remedy the conditions resulting from each violation or unsafe or unsound practice, and to take affirmative action, including any of the following: (1) Make restitution or provide reimbursement, indemnification, or guarantee against loss, if either of the following applies: (a) The bank, trust company, or regulated person was or will be unjustly enriched in connection with the violation or practice; (b) The violation or practice involved a reckless disregard for the law or any applicable rule or prior order of the superintendent. (2) Restrict the bank's or trust company's growth; (3) Dispose of any loan or asset involved; (4) Rescind agreements or contracts; (5) Employ qualified officers or employees, who may be subject to approval by the superintendent; (6) Take any other action the superintendent determines appropriate. (E) A cease and desist order issued by the superintendent is effective at the time specified in the order, which shall be as follows: (1) In the case of a cease and desist order issued pursuant to division (C)(2) of this section, not less than thirty days after service of the order upon the bank, trust company, or regulated person; (2) In the case of a cease and desist order issued pursuant to division (C)(1), (3), or (4) of this section, immediately upon service of the order on the bank, trust company, or regulated person. (F) A cease and desist order shall remain effective and enforceable as provided in the order except to the extent it is stayed, modified, terminated, or set aside by action of the superintendent or a reviewing court. If, upon the record of a hearing, the superintendent determines not to issue a cease and desist order, any cease and desist order issued pursuant to division (C)(3) or (4) of this section is terminated. (G) Within ten days after being served a cease and desist order issued pursuant to division (C)(3) or (4) of this section, a bank, trust company, or regulated person may apply to the court of common pleas of the county in which the principal place of business of the bank, trust company, or regulated person, or residence of the regulated person, is located, or the court of common pleas of Franklin county, for an injunction setting aside, limiting, or suspending the enforcement, operation, or effectiveness of the cease and desist order pending completion of the hearing to determine whether a cease and desist order should be issued against the bank, trust company, or regulated person pursuant to division (C)(2) of this section, and the court has jurisdiction to issue the injunction. (H) The superintendent shall serve a certified copy of a cease and desist order issued pursuant to this section on any bank or trust company in relation to which the object of the cease and desist order is a regulated person.
Ohio Rev. Code § 1119.26 — Ohio Revised Code / Title 11 / Chapter 1119 / § 1119.26
§ 1119.26. Voluntary liquidation and surrender of license
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A foreign bank may voluntarily liquidate and surrender its license to operate a representative office, agency, or branch licensed under this chapter only with the consent of the superintendent of financial institutions. (B) Prior to beginning any liquidation process, the foreign bank must file an application to voluntarily liquidate and surrender its license with the superintendent. The application shall include a plan of liquidation that includes all of the provisions required of a plan for voluntary liquidation of a state bank under division (C) of section 1125.03 of the Revised Code, except that the plan of liquidation shall be limited in scope to the particular representative office, agency, or branch to be liquidated. (C) After conducting an examination, the superintendent may approve or deny a foreign bank's application to voluntarily liquidate and surrender its license based on the superintendent's evaluation of whether or not the interests of the representative office's, agency's, or branch's creditors or, where applicable, depositors, will suffer by the surrender. The superintendent's approval is subject to any condition the superintendent may determine appropriate under the circumstances. (D) If the superintendent approves the application to voluntarily liquidate and surrender a license, the foreign bank shall comply with the requirements of divisions (A)(1) and (2) of section 1125.04 of the Revised Code. (E) During the implementation of the plan of liquidation pursuant to this section, the superintendent retains the authority to supervise the representative office, agency, or branch and may conduct any examination relating to either the representative office, agency, or branch or the plan of liquidation the superintendent considers necessary or appropriate. (F) If the superintendent has reason to conclude the implementation of the plan of liquidation is not being safely or expeditiously conducted, the superintendent may do either of the following: (1) Begin revocation proceedings under section 1119.22 of the Revised Code; (2) Take possession of the business and property of the representative office, agency, or branch in the same manner, with the same effect, and subject to the same rights accorded the foreign bank under section 1119.23 of the Revised Code. (G) The superintendent shall cancel the foreign bank's license to operate a representative office, agency, or branch under this chapter if the superintendent has approved the voluntary liquidation and surrender of the license and both of the following conditions have been met: (1) The plan of liquidation has been completed. (2) The notifications required by division (D) of this section were properly given. Disclaimer Contact About
Ohio Rev. Code § 1105.02 — Ohio Revised Code / Title 11 / Chapter 1105 / § 1105.02
§ 1105.02. Qualifications of board members
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A)(1) Of the directors on the board of directors of a state bank: (a) A majority of the directors shall be outside directors. However, in the case of a stock state bank, if eighty per cent or more of any class of the bank's voting shares are owned by a company, a majority of the directors may be officers or directors of one or more affiliates of the bank. (b) For purposes of this section, anyone who is not an employee of the state bank or the bank holding company shall be considered an outside director. (2)(a) If during a term of office a director causes the total membership of the board to be out of compliance with division (A)(1)(a) of this section, the director forfeits the directorship, and the director's office is then vacant. (b) No new director, or former director who is elected or appointed to the board after an interruption in service, shall be elected or appointed if it causes the total membership of the board to be out of compliance with division (A)(1)(a) of this section. (B)(1) No person who has been convicted of, or has pleaded guilty to, a felony or any crime involving an act of fraud, dishonesty, breach of trust, theft, or money laundering shall serve as a director of a bank or a subsidiary or affiliate of a bank. The superintendent of financial institutions may waive this restriction if the crime the person was convicted of or pleaded guilty to was a misdemeanor or minor misdemeanor or the equivalent thereof. (2) If during a term of office any director is convicted of, or pleads guilty to, a crime described under division (B)(1) of this section, the director forfeits the directorship, and the director's office is then vacant.
Ohio Rev. Code § 1105.07 — Ohio Revised Code / Title 11 / Chapter 1105 / § 1105.07
§ 1105.07. Bylaws
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly For its own governance, the board of directors may adopt bylaws not inconsistent with the law of this state, the articles of incorporation, or the code of regulations. Without limiting their generality, the bylaws may include provisions with respect to: (A) The time and place of holding, the manner of and authority for calling, giving notice of, and conducting meetings of the board of directors; (B) The appointment of committees of the board of directors, their authority, and the time, place, and manner of calling, giving notice of, and conducting their meetings.
Ohio Rev. Code § 1123.02 — Ohio Revised Code / Title 11 / Chapter 1123 / § 1123.02
§ 1123.02. Organization and procedures of banking commission
Status: in_force

January 1, 1997 House Bill 670 - 121st General Assembly (A) The banking commission shall hold regular meetings at the times and places it fixes, and shall meet at any time on call of the deputy superintendent for banks upon two days' notice unless the commission by resolution provides for a shorter notice. (B) A majority of the full commission constitutes a quorum, and action taken by a majority of those present at a meeting at which there is a quorum constitutes the action of the commission. (C) No member shall participate before the commission in a proceeding involving any bank of which the member is, or was at any time in the preceding twelve months, a member of the board of directors, an officer, an employee, or a shareholder. A member may refrain from participating in a proceeding before the commission for any other cause the member considers sufficient. (D) The commission may, by a majority vote of those present at a meeting at which there is a quorum, adopt and amend bylaws and rules the commission, in its judgment, considers necessary and proper. The commission shall select one of its members as secretary, who shall keep a record of all its proceedings.
Ohio Rev. Code § 1112.12 — Ohio Revised Code / Title 11 / Chapter 1112 / § 1112.12
§ 1112.12. Pledge of securities
Status: in_force

October 3, 2023 House Bill 33 - 135th General Assembly (A) Prior to transacting any business as a licensed family trust company, a family trust company shall pledge to the superintendent of financial institutions interest-bearing securities authorized in division (B) of this section, having a par value, not including unaccrued interest, of one hundred thousand dollars, and approved by the superintendent. The family trust company may pledge the securities either by delivery to the superintendent or by placing the securities with a qualified trustee for safekeeping to the account of the superintendent of financial institutions. (B) Securities pledged by a family trust company to satisfy the requirements of division (A) of this section shall be one or more of the following, provided that the bonds or other obligations are rated at the time of purchase in the three highest classifications established by at least one nationally recognized statistical rating organization and purchased through a registered securities broker or dealer: (1) Bonds, notes, or other obligations of or guaranteed by the United States or for which the full faith and credit of the United States is pledged for the payment of principal and interest; (2) Bonds, notes, debentures, or other obligations or securities issued by any agency or instrumentality of the United States. (C) The superintendent of financial institutions shall review, approve, and accept delivery of securities pursuant to this section and shall issue a written acknowledgment of the delivery of the securities or the qualified trustee's receipt and the superintendent's approval to the family trust company. (D) The superintendent shall approve securities to be pledged by a family trust company pursuant to this section if the securities are all of the following: (1) Interest-bearing and of the value required by division (A) of this section; (2) Of one or more of the kinds authorized by division (B) of this section and not a derivative of or merely an interest in any of those securities; (3) Not in default. (E) The superintendent of financial institutions shall permit a family trust company to pledge securities in substitution for securities pledged pursuant to this section and the withdrawal of the securities substituted for so long as the securities remaining pledged satisfy the requirements of division (A) of this section. The superintendent shall permit a family trust company to collect interest paid on securities pledged pursuant to this section so long as the family trust company is solvent. The superintendent shall permit a licensed family trust company to withdraw securities pledged pursuant to this section when the family trust company has discontinued its business as a licensed family trust company in this state. (F) For purposes of this section, a qualified trustee is a federal reserve bank, a federal home loan bank, a trust company as defined in section 1101.01 of the Revised Code, or a bank or savings association that has pledged securities pursuant to section 1111.04 of the Revised Code, is authorized to accept and execute trusts, and is doing business under authority granted by the comptroller of the currency. (G) The superintendent shall prescribe the form of all receipts and acknowledgments provided for by this section, and upon request shall furnish a copy of each form, with the superintendent's certification attached, to each qualified trustee eligible to hold securities for safekeeping under this section. Last updated September 6, 2023 at 2:29 PM
Ohio Rev. Code § 1107.11 — Ohio Revised Code / Title 11 / Chapter 1107 / § 1107.11
§ 1107.11. Pre-emptive rights
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Unless otherwise provided in the articles of incorporation, the holders of any class of a stock state bank's shares, other than shares that are limited as to dividend rate and liquidation price, shall, upon the offering or sale for cash of shares of the same class, have the right, during a reasonable time and on reasonable terms fixed by the directors, to purchase the shares in proportion to their respective holdings of shares of that class, at not less than par value, unless the shares offered or sold are any of the following: (1) Treasury shares; (2) Released from pre-emptive rights by the affirmative vote or written consent of the holders of either of the following: (a) Two-thirds of the shares entitled to the pre-emptive rights; (b) A majority of the shares entitled to the pre-emptive rights, if for offering and sale or granting options to any or all employees of the bank or any of the bank's subsidiaries or to a trustee on their behalf, under a plan adopted under section 1107.09 of the Revised Code; (3) Offered to shareholders in satisfaction of their pre-emptive rights and not purchased by the shareholders, and thereupon issued or agreed to be issued for a consideration not less than that at which the shares were offered to the shareholders, less reasonable expenses, compensation, or discount paid or allowed for the sale, underwriting, or purchase of the shares. (B) An action arising from the offering or sale of shares under division (A) of this section shall be brought within two years after the date on which written notice or other communication of the transaction is mailed or otherwise given to the person entitled to bring the action. In no event shall any such action be brought later than four years after the cause of action accrued. (C) Pre-emptive rights with respect to shares issued by a stock state bank chartered on or after the effective date of this amendment shall be governed by section 1701.15 of the Revised Code.
Ohio Rev. Code § 1111.11 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.11
§ 1111.11. Trust company - powers and duties
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly A trust company may receive and hold moneys or property, in trust or as custodian, from executors, administrators, assignees, guardians, trustees, corporations, or individuals, and engage in those activities constituting the trust business, and any activities incidental to the trust business, including any of the following: (A) Acting as trustee under any instrument creating a trust for the care and management of property under the same circumstances and in the same manner as any other trustee; (B) Accepting and executing any trusts, duties, and powers that may be granted to it regarding holding, managing, investing, or disposing of any property, real or personal, that may be committed or transferred to or vested in a trust estate and any rents, income, profits, and proceeds of that property or the sale of that property; (C) Accepting and executing all trusts committed to it by order of any court of any state, the United States, or any country, to act as executor, administrator, assignee, guardian, receiver, or trustee, or in any other fiduciary capacity, and taking title to any real estate that is the subject of any trust committed to it by any court; (D) Acting as agent for holding, managing, investing, or disposing of any property, real or personal, and any rents, income, profits, or proceeds of that property or the sale of that property; (E) Acting as trustee under any mortgage, deed of trust, or indenture for securing bonds or other debt securities issued by any corporation, association, state, county, municipal corporation, or political subdivision; (F) Accepting and executing any other corporate or municipal trusts; (G) Acting as agent or trustee for registering, countersigning, or transferring certificates of stock, bonds, or other evidences of indebtedness of a corporation, association, state, county, municipal corporation, or political subdivision.
Ohio Rev. Code § 1127.08 — Ohio Revised Code / Title 11 / Chapter 1127 / § 1127.08
§ 1127.08. False, misleading, forged, or counterfeit documents
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly No person, for the purpose of influencing in any manner the actions or decisions of the superintendent of financial institutions in the superintendent's capacity as chief executive officer of the division of financial institutions, shall knowingly make or provide to the superintendent or any employee or agent of the division, or knowingly invite reliance by any of them upon, a statement, document, or other thing the person knows to be false, misleading, forged, or counterfeit.
Ohio Rev. Code § 1109.34 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.34
§ 1109.34. Investing in securities of domestic insurance company
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A state bank may invest in the securities of a domestic insurance company organized under Chapter 3907. or 3925. of the Revised Code, regulated by the superintendent of insurance under Title XXXIX of the Revised Code and engaged exclusively in the business of reinsuring risks, to the extent permitted by and subject to limitations and restrictions imposed by the superintendent of financial institutions by rules adopted in accordance with Chapter 119. of the Revised Code. (B)(1) The total amount any state bank may invest in the common and preferred stock, obligations, and other securities of domestic insurance companies pursuant to division (A) of this section shall not exceed ten per cent of the bank's assets. (2) A state bank may file an application with the superintendent of financial institutions for permission to invest, subject to the conditions and requirements prescribed by the superintendent of financial institutions, an amount in excess of ten per cent of the bank's capital in the common and preferred stock, bonds, debentures, and other obligations of one domestic insurance company pursuant to division (A) of this section. (C) A state bank making investments pursuant to division (A) of this section shall report the investments annually on the first day of March to the superintendent of financial institutions and the superintendent of insurance. The report shall include, for each reinsurer in which the bank has made an investment, information as to the amount of reinsurance written in this state by each line of insurance designated by the superintendent of insurance.
Ohio Rev. Code § 1109.32 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.32
§ 1109.32. Bonds, notes and other debt securities as investments
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A state bank may invest in any of the following: (1) Bonds, bills, notes, or other debt securities of the United States or for which the full faith and credit of the United States is pledged for payment of principal and interest; (2) Bonds, notes, or other debt securities issued by this state, or any state of the United States, that are the direct obligation of the issuer and for which the full faith and credit of the issuer is pledged to provide payment of the principal and interest; (3) Bonds, notes, or other debt securities of any county, municipal corporation, township, school district, improvement district, sewer district, or other subdivision of this state or any other state of the United States, that are the direct obligation of the county or the subdivision issuing them and for which the full faith and credit of the issuing county or subdivision is pledged to provide payment of principal and interest; (4) Bonds or other debt obligations issued or guaranteed by agencies or instrumentalities of the United States, regardless of the guarantee of payment of principal and interest by the United States; (5) Subject to conditions and restrictions the superintendent of financial institutions may prescribe, bonds, debentures, and other debt securities issued by any country or multinational organization that are the direct obligation of the issuing country or multinational organization and for which the full faith and credit of the issuing country or multinational organization is pledged to provide payment of principal and interest; (6) Bankers' acceptances of the kinds described in divisions (B) and (C) of section 1109.17 of the Revised Code; (7) Subject to conditions and restrictions the superintendent may prescribe, bonds, debentures, and other debt securities and obligations of any state or political subdivision of a state, a public corporation, or governmental agency that are payable solely out of anticipated revenues, commonly referred to as revenue bonds; (8) As defined and restricted by the superintendent, marketable obligations evidencing the indebtedness of any corporation in the form of bonds, notes, debentures, or equipment trust certificates, commonly referred to as investment securities. (B) In addition to any other provision of this chapter authorizing state banks to invest in bonds, debentures, or other debt securities, a state bank may invest in bonds, debentures, and other debt securities and obligations in which national banks, savings banks, and savings associations insured by the federal deposit insurance corporation are permitted to invest.
Ohio Rev. Code § 1125.11 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.11
§ 1125.11. Filing certified copy of certificate of appointment
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Upon the appointment of a conservator, the superintendent of financial institutions shall file a certified copy of the certificate of appointment in the office of the secretary of state, and thereafter no person shall obtain a lien or charge upon any assets of the state bank for any payment, advance, clearance, or liability thereafter made or incurred, nor shall the directors, officers, or agents of the bank thereafter have authority to act on behalf of the bank or to convey, transfer, assign, pledge, mortgage, or encumber any of the bank's assets. (B) The filing of the certificate of appointment in accordance with this section shall not be a condition to either the superintendent's taking possession of the property and business of a state bank or appointing a conservator for a state bank.
Ohio Rev. Code § 1112.14 — Ohio Revised Code / Title 11 / Chapter 1112 / § 1112.14
§ 1112.14. Duties of licensed family trust company
Status: in_force

September 14, 2016 House Bill 229 - 131st General Assembly Each licensed family trust company shall do all of the following: (A) Maintain office space in this state for the transaction of trust business and for the storage of, and access to, family trust company records; (B) Hold in this state at least two governing board meetings per year at which a quorum of the board members are physically present; (C) Employ, engage, or contract with at least one individual, on a part-time basis, to provide services in this state for the family trust company; (D) Perform at least three of the following trust administration activities wholly or partly in this state for the accounts under the management, administration, or custody of the family trust company: (1) Annual account reviews; (2) Annual investment reviews; (3) Trust accountings; (4) Account correspondence; (5) Completion of trust account tax returns; (6) Distribution of account statements. (E) Maintain all of the following: (1) A minimum of three directors or managers, at least one of whom is a resident of this state; (2) A minimum stockholders' equity of an amount determined by the division of financial institutions, which amount shall be at least two hundred thousand dollars but not more than five hundred thousand dollars. The equity may be comprised of cash, securities, including stock of a nonpublicly traded business entity, or other reasonably liquid assets exclusive of all organization expenses. (3) All applicable state and local business licenses and permits; (4) A bank account with a state chartered or national bank having a principal or branch office in this state.
Ohio Rev. Code § 1181.23 — Ohio Revised Code / Title 11 / Chapter 1181 / § 1181.23
§ 1181.23. Multistate licensing program
Status: in_force

October 17, 2019 House Bill 166 - 133rd General Assembly (A) The superintendent of financial institutions may require persons licensed or registered by the division of financial institutions to participate in a multistate licensing system. (B)(1) If the superintendent requires use of a multistate licensing system, the superintendent may establish, by rule, regulation, or order, requirements as necessary to enable information required by existing statutes providing for licensing or registration to be submitted to the superintendent through the multistate licensing system. (2) The superintendent shall not adopt a requirement in conflict with a provision of the Revised Code, but may add to existing requirements with regard to all of the following: (a) The manner of obtaining required criminal history records, civil or administrative records, or credit history records; (b) The payment of fees required for the use of the multistate licensing system; (c) The setting or resetting as necessary of renewal or reporting dates; (d) The amending of or surrendering of a license or registration. (C) Any person engaged in activity that requires licensure or registration pursuant to this section shall utilize the multistate licensing system for the application for, renewal of, amendment to, or surrender of a license or registration, as well as for any other activity as the superintendent may require. Such a person shall pay all applicable charges to utilize the multistate licensing system. (D) The superintendent is authorized to establish relationships or contacts with the multistate licensing system or other entities designated by the multistate licensing system to collect and maintain records and process transaction fees or other fees related to licensees and registrants. (E) Any confidentiality or privilege arising under federal or state law with respect to any information or material provided to the multistate licensing system shall continue to apply to the information or material after the information or material is provided to the multistate licensing system. The information and material so provided may be released to any state or federal regulatory official with applicable oversight authority without the loss of confidentiality or privilege protections provided by federal law or the law of any state. (F) The superintendent may use the documents, materials, or other information made available to the superintendent through the multistate licensing system in furtherance of any action brought by the superintendent.
Ohio Rev. Code § 1109.03 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.03
§ 1109.03. Federal deposit insurance corporation and federal reserve requirements
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) No bank shall transact business in this state unless its deposit accounts are insured by the federal deposit insurance corporation, except a bank that by the terms of its articles of incorporation or articles of association is not permitted to solicit or accept deposits other than trust funds. Each bank whose deposit accounts are insured by the federal deposit insurance corporation shall maintain that insurance as a condition of doing business in this state. (B) Each bank doing business in this state shall comply with the reserve requirements of the "Federal Reserve Act of 1913," as amended. (C) Any bank doing business in this state may become a member of the federal reserve system as permitted under federal law and do all things necessary to maintain that membership in accordance with the "Federal Reserve Act of 1913," as amended. (D) Any bank doing business in this state may become a member of a federal home loan bank and do all things necessary to maintain that membership in accordance with the "Federal Home Loan Bank Act of 1932," 47 Stat. 725, 12 U.S.C.A. 1421, as amended. A bank may purchase and hold stock in a federal home loan bank in excess of the amount required for membership, if that purchase and holding of stock is consistent with the financial condition of the bank and prudent banking practice.
Ohio Rev. Code § 1109.021 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.021
§ 1109.021. Election to operate as a savings and loan association
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) As used in this section, "portfolio assets" and "qualified thrift investments" have the same meanings as in 12 U.S.C. 1467a, as amended. (B) A state bank may elect to operate as a savings and loan association by filing a written notice of that election with the superintendent of financial institutions. (C) Upon filing an election notice, a state bank shall be considered a savings and loan association if both of the following conditions are met: (1) Its qualified thrift investments equal or exceed sixty-five per cent of its portfolio assets. (2) Its qualified thrift investments continue to equal or exceed sixty-five per cent of its assets on a monthly average basis in nine out of every twelve months. (D) A state bank may revoke its election notice at any time by submitting a written notice thereof to the superintendent.
Ohio Rev. Code § 1113.14 — Ohio Revised Code / Title 11 / Chapter 1113 / § 1113.14
§ 1113.14. Annual meeting; notice
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A stock state bank's shareholders shall hold an annual meeting in accordance with this section and the bank's articles of incorporation and code of regulations. The purposes of the annual meeting shall include the election of directors and the presentation of the financial statements. (B) The financial statements presented at the annual meeting shall satisfy the requirements of one of the following: (1) The basic financial information required to be made available to shareholders of a stock state bank prior to the annual meeting pursuant to section 1113.15 of the Revised Code; (2) The financial statements required to be presented at the annual meeting of a corporation pursuant to section 1701.38 of the Revised Code; (3) The financial statements required under federal law for a bank subject to the registration requirements of section 12 of the "Securities Exchange Act of 1934," 48 Stat. 892, 15 U.S.C.A. 78l, as amended. (C) Meetings of the shareholders may be called for any of the reasons and in the manner set forth in section 1701.40 of the Revised Code. Notice of any meeting shall be provided in accordance with section 1701.41 of the Revised Code. (D) The requirements of this section shall not apply with respect to annual or special meetings of shareholders of a stock state bank that is wholly owned, except for directors' qualifying shares, if any, by a bank holding company or savings and loan holding company.
Ohio Rev. Code § 1121.51 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.51
§ 1121.51. Action to secure condition of assets
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) The superintendent of financial institutions may do either of the following: (1) If, in the superintendent's judgment, the condition of an asset warrants, require the bank to do any of the following: (a) Establish specific reserves against the asset : (b) Charge the asset down to the sum that, in the judgment of the superintendent, represents the asset's value; (c) Exclude the asset from the bank's assets. (2) Require a bank to establish general reserves against any class or category of the bank's assets. (B) The superintendent may limit a bank's or trust company's activities and require a bank or trust company to take affirmative actions the superintendent determines to be appropriate to address and remedy in the bank's or trust company's operation or condition that are found in an examination by the superintendent or any other regulatory agency or authority or by any other means.
Ohio Rev. Code § 1112.17 — Ohio Revised Code / Title 11 / Chapter 1112 / § 1112.17
§ 1112.17. Voluntary surrender of license
Status: in_force

September 14, 2016 House Bill 229 - 131st General Assembly (A) A family trust company licensed under this chapter may cease doing trust business and voluntarily surrender its license to engage in trust business in this state, and as a consequence be relieved of the necessity to comply with the requirements of this chapter, only with the consent of the superintendent of financial institutions. (B) A licensed family trust company proposing to cease doing trust business in this state shall submit both of the following to the superintendent: (1) A certified copy of the resolution of the licensed family trust company's board of directors reflecting the board's decision that the trust company should cease doing trust business in this state and adopting a plan for winding up its trust business in this state; (2) The licensed family trust company's plan for winding up its trust business in this state. (C) The superintendent may approve or deny the licensed family trust company's plan for winding up its trust business in this state based on the superintendent's evaluation of whether the plan provides adequate protection for those persons and interests that the trust company serves as a fiduciary. The superintendent's approval may be subject to any condition the superintendent determines appropriate under the circumstances. (D) During the implementation of a licensed family trust company's plan for winding up its trust business in this state, the superintendent shall retain the authority to supervise the trust company and may conduct any examination relating to either the trust company or the plan the superintendent considers necessary or appropriate. (E) If the superintendent has reason to conclude that the licensed family trust company is not safely or expeditiously implementing the approved plan for winding up the licensed family trust company's trust business in this state, the superintendent may do either of the following: (1) Begin revocation proceedings under section 1112.24 of the Revised Code; (2) Take possession of the trust company's trust business in this state in the same manner, with the same effect, and subject to the same rights accorded to the trust company under section 1112.26 of the Revised Code. (F) The superintendent shall cancel the family trust company's license to do trust business in this state if the superintendent has approved the licensed family trust company's plan for winding up its trust business in this state and, when applicable, the licensed family trust company has met all of the following conditions: (1) The licensed family trust company has completed its plan for winding up its trust business in this state consistent with any conditions imposed by the superintendent in approving the plan. (2) The licensed family trust company has been relieved in accordance with the law of all duties as trustee, executor, administrator, registrar of stocks and bonds, or any other fiduciary under court, private, or other appointment the trust company had accepted. (3) The licensed family trust company has, in accordance with the law, wound up its trust business in each of the other jurisdictions in which the family trust company solicited appointment or served as a fiduciary or engaged in trust business. (G) Upon the superintendent's canceling the licensed family trust company's license to do trust business in this state, the company shall no longer, without obtaining a license from the superintendent, engage in trust business in this state.
Ohio Rev. Code § 1127.01 — Ohio Revised Code / Title 11 / Chapter 1127 / § 1127.01
§ 1127.01. Actions by a regulated person constituting criminal offense
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) For purposes of this section and sections 1127.02 and 1127.03 of the Revised Code, "regulated person" has the same meaning as in section 1121.01 of the Revised Code. (B) Any of the following actions by a regulated person may constitute a violation of section 1127.08 of the Revised Code or of a theft, fraud, falsification, or other similar offense set forth in Title XXIX of the Revised Code, or may constitute an attempt to commit or complicity to commit a violation of section 1127.08 of the Revised Code or of a theft, fraud, falsification, or other similar offense set forth in Title XXIX of the Revised Code: (1) Embezzling, abstracting, or purposely misapplying any money, funds, credit, or property of a bank or trust company, whether owned, on deposit, or held in trust by the bank or trust company; (2) Fraudulently issuing a certificate of deposit or other instrument or evidence of deposit; (3) Knowingly making a false entry in any book, report, or statement of a bank or trust company; (4) Knowingly making a false entry of interest or principal on a note or any other asset of a bank or trust company; (5) Knowingly falsifying, concealing, or covering up by any trick, scheme, or device a material fact, making any false, fictitious, or fraudulent statements or representations, or making or using any false writing or document knowing it to contain any false, fictitious, or fraudulent statement or entry with respect to any bank or trust company; (6) Knowingly making a false written statement or certification as to any property held in trust by, or in the custody of, a bank or trust company; (7) Knowingly borrowing, soliciting, obtaining, or receiving money for a bank or trust company intended to become the property of the bank or trust company, with purpose to defraud or injure the bank or trust company or another person; (8) Purposely certifying a check or other item drawn on a bank unless the drawer of the check or other item has on deposit with the bank an amount of money subject to payment of the check or other item and at least equal to the amount of the check or other item, or purposely certifying a check or other item drawn on the bank and failing immediately to charge the amount of the check or other item against the account of the drawer; (9) Directly or indirectly engaging in any activity, utilizing any procedure, scheme, or device, or receiving any false, fictitious, or fraudulent obligation or item, for the purpose of evading or circumventing the prohibitions set forth in division (B)(8) of this section.
Ohio Rev. Code § 1119.01 — Ohio Revised Code / Title 11 / Chapter 1119 / § 1119.01
§ 1119.01. Foreign bank definitions
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly As used in this chapter, unless the context otherwise requires: (A) "Foreign bank" means any company, or any subsidiary or affiliate of a company, organized under the laws of a foreign country, a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, that engages in the business of banking. "Foreign bank" includes, without limitation, a foreign commercial bank, foreign merchant bank, or other foreign institution that engages in banking activities usually conducted in connection with the business of banking in the country that granted its charter or countries where the foreign institution is operating. (B) "Executive officer" has the same meaning as in section 1109.23 of the Revised Code.
Ohio Rev. Code § 1112.09 — Ohio Revised Code / Title 11 / Chapter 1112 / § 1112.09
§ 1112.09. Transfer and assignment prohibited
Status: in_force

September 14, 2016 House Bill 229 - 131st General Assembly A family trust company's license to engage in trust business in this state is not transferable or assignable.
Ohio Rev. Code § 1115.11 — Ohio Revised Code / Title 11 / Chapter 1115 / § 1115.11
§ 1115.11. State bank consolidations or mergers
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A state bank may consolidate or merge with another state bank, a bank, savings bank, or savings association doing business under authority granted by the bank regulatory authority of another state, a national bank, or a federal savings association, regardless of where it maintains its principal place of business, with the approval of all of the following: (1) The directors of both constituent corporations; (2)(a) The shareholders of each constituent state bank that is a stock state bank, by the affirmative vote or written consent of the holders of two-thirds, or such other proportion not less than a majority as the bank's articles of incorporation or code of regulations provide, of the outstanding shares of each class of the bank's stock; (b) The members of each constituent state bank that is a mutual state bank, by the affirmative vote of two-thirds, or such other proportion not less than a majority as the bank's articles of incorporation or code of regulations provide, of the voting members. (3) The shareholders or members of the other constituent bank, savings bank, or savings association as required by the applicable state or federal law, articles of incorporation, or code of regulations; (4) One of the following, as applicable: (a) If the resulting corporation will be a state bank, the superintendent of financial institutions; (b) If the resulting corporation will be a national bank or federal savings association, the office of the comptroller of the currency; (c) If the resulting corporation will be a bank, savings bank, or savings association doing business under authority granted by the regulatory authority of another state, the state regulatory authority under which the bank, savings bank, or savings association is doing business. (B) For a merger or consolidation in which the resulting or surviving corporation will be a state bank, the constituent corporations, in the case of a consolidation, and the constituent corporation that will be the surviving corporation, in the case of a merger, shall file with the superintendent an application for the superintendent's approval that includes a copy of the consolidation or merger agreement and any other information the superintendent requires. (C) The consolidation or merger agreement required under division (B) of this section shall include all of the following: (1) The names of the constituent corporations; (2) The agreement that the named constituent corporations will consolidate into a new state bank or the other named constituent corporations will merge with or into one specified constituent corporation; (3) Subject to the limitations set forth in section 1103.07 of the Revised Code, the name of the state bank resulting from the consolidation or surviving the merger; (4) The place in this state where the resulting or surviving bank's principal place of business is to be located; (5) In the case of a consolidation, the contents of the resulting bank's articles of incorporation, consistent with section 1113.04 of the Revised Code; (6) In the case of a merger, any amendment to the surviving bank's articles of incorporation; (7) The names and addresses of the directors of the resulting or surviving bank; (8) The terms of the consolidation or merger, how the consolidation or merger will be effected, and how consideration provided for, if any, will be distributed to the shareholders or members of the constituent corporations. (D) Within ten business days after receiving an application required under division (B) of this section, the superintendent shall determine whether to accept the application. If the transaction is with a bank, savings bank, or savings association doing business under authority granted by a regulatory authority other than the superintendent, the superintendent shall notify the regulatory authority under which the bank, savings bank, or savings association is doing business of the application and solicit that regulatory authority's comments. Within ninety days after accepting an application required under division (B) of this section, the superintendent shall approve or disapprove the application. In making that determination, the superintendent shall consider all of the following: (1) Whether the transaction would result in a monopoly or would further any combination or conspiracy to monopolize or to attempt to monopolize the business of banking in any part of this state and any markets served by the resulting or surviving bank; (2) Whether the effect of the proposed transaction in any part of this state and any markets served by the resulting or surviving bank may be to substantially lessen competition, tend to create a monopoly, or in any other manner restrain trade, unless the superintendent finds the anticompetitive effects of the transaction would clearly be outweighed in the public interest by the probable effect of the transaction in meeting the convenience and needs of the community to be served; (3) The financial and managerial resources and future prospects of the banks involved; (4) The convenience and needs of the communities to be served; (5) Whether, upon completion of the transaction, the resulting or surviving state bank will meet the requirements of Chapters 1101. to 1127. of the Revised Code; (6) The comments of any regulatory authority notified in accordance with division (D) of this section. (E) The superintendent may condition approval of an application under division (D) of this section in any manner the superintendent considers appropriate. (F) Before consummating a consolidation or merger authorized under division (A) of this section, a state bank shall deliver to the superintendent a certificate of consolidation or merger that satisfies the requirements of section 1701.81 of the Revised Code. The superintendent shall file the certificate of consolidation or merger with the secretary of state and, if the resulting or surviving bank of the consolidation or merger is a state bank, shall file a certified copy of the superintendent's approval of the consolidation or merger with the certificate. (G) In the case of a consolidation or merger in which the resulting or surviving corporation is a state bank, the directors and other officers named in the agreement of consolidation or merger shall serve until the date fixed in the agreement or provided in the resulting or surviving bank's code of regulations or by statute for the next annual meeting. (H)(1) When a consolidation or merger becomes effective, both of the following apply: (1) The existence of each of the constituent corporations ceases as a separate entity, but continues in the resulting or surviving corporation, within the limits of the charter of the resulting or surviving corporation and subject to section 1115.20 of the Revised Code, without further act or deed. (b) Within the limits of the charter of the resulting or surviving corporation, the resulting or surviving corporation has all assets and property, the rights, privileges, immunities, powers, franchises, and authority, and all obligations and fiduciary relationships of each party to the merger or consolidation and the duties and liabilities connected with them. (2) The resulting or surviving corporation shall perform every fiduciary relationship it has in the same manner as if it had itself originally assumed the fiduciary relationship and the obligations and liabilities connected with it. (I) Shareholders of the nonsurviving stock state bank shall have a right to dissent and shall be entitled to relief as dissenting shareholders under section 1701.85 of the Revised Code for those transactions requiring prior shareholder approval under division (A)(2) of this section.
Ohio Rev. Code § 1127.09 — Ohio Revised Code / Title 11 / Chapter 1127 / § 1127.09
§ 1127.09. False or misleading communications
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly No person shall knowingly make, publish, or otherwise communicate any statement, report, information, or data relating to the financial or other condition of any bank or trust company that the person knows to be false or misleading.
Ohio Rev. Code § 1123.03 — Ohio Revised Code / Title 11 / Chapter 1123 / § 1123.03
§ 1123.03. Banking commission - duties
Status: in_force

September 29, 2017 House Bill 49 - 132nd General Assembly The banking commission shall do all of the following: (A) Make recommendations to the deputy superintendent for banks and the superintendent of financial institutions on the business of banking; (B) Consider and make recommendations on any matter the superintendent or deputy superintendent submits to the commission for that purpose; (C) Pass upon and determine any matter the superintendent or deputy superintendent submits to the commission for determination; (D) Consider and determine whether to confirm the annual schedule of assessments proposed by the superintendent in accordance with section 1121.29 of the Revised Code; (E) Determine whether to increase the schedule of assessments as provided in division (A)(3) of section 1121.29 of the Revised Code; (F) Determine, as provided in division (D) of section 1121.12 of the Revised Code, both of the following: (1) Whether there is reasonable cause to believe that there is a significant risk of imminent material harm to the bank; (2) Whether the examination of the bank holding company is necessary to fully determine the risk to the bank, or to determine how best to address the risk to the bank.
Ohio Rev. Code § 1115.20 — Ohio Revised Code / Title 11 / Chapter 1115 / § 1115.20
§ 1115.20. Protecting rights of creditors
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) In any transfer under this chapter, the rights of creditors shall be preserved unimpaired and, unless otherwise provided, the constituent corporations shall be deemed to continue their separate existence if the continuation is necessary to preserve any creditor's rights. (B) In any consolidation or merger under section 1115.11 of the Revised Code, the rights and obligations of the surviving or new bank shall be governed by section 1701.82 of the Revised Code.
Ohio Rev. Code § 1113.17 — Ohio Revised Code / Title 11 / Chapter 1113 / § 1113.17
§ 1113.17. Books and records of account and of proceedings
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Each stock state bank shall keep correct and complete books and records of account, together with records of the proceedings, including minutes of any meetings, of its incorporators, shareholders, directors, and committees of the directors, and records of its shareholders showing their names and addresses and the number and class of shares issued or transferred of record to or by them from time to time. (B) Upon request of any shareholder eligible to attend and vote at any meeting of the bank's shareholders, the board of directors shall produce at the meeting an alphabetically arranged list, or classified lists, of the shareholders of record as of the applicable record date, showing their respective addresses and the number and class of shares held by each, and certified by the officer or agent responsible for registering issues and transfers of shares. The list or lists, certified by the officer or agent, shall be prima facie evidence of the facts shown in the list or lists. (C) Any shareholder of the bank, upon written demand stating the specific purpose of the demand, has the right to examine in person or by agent or attorney at any reasonable time and for any reasonable and proper purpose, the books and records of the bank, except books and records of deposit, agency or fiduciary accounts, loan records, and other records relating to customer services or transactions. (D) The authority granted under Title XI of the Revised Code to inspect the books and records of a stock state bank shall apply solely to the superintendent of financial institutions and to the shareholders of record of the bank. Disclaimer Contact About
Ohio Rev. Code § 1117.06 — Ohio Revised Code / Title 11 / Chapter 1117 / § 1117.06
§ 1117.06. Limited operations - extension of structures
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) A bank shall keep a written record of both of the following: (1) Each location at which the bank receives, but does not accept, cash or other items for subsequent deposit, such as by mail or armored car service or at a lock box or night depository; (2) Each location at which the bank is engaged solely in providing administrative support services for its own operations or for other depository institutions. (B) A bank shall give written notice to the superintendent of financial institutions both prior to using and after ceasing to use any of the following: (1) Any structure located within five hundred yards of a banking office and operated as an extension of the services of the banking office; (2) Any facility located within the geographical limits of a military installation at which a bank only accepts deposits and cashes checks; (3) Any location at which a bank takes and processes applications for loans and may disburse loan proceeds, but does not accept deposits.
Ohio Rev. Code § 1113.02 — Ohio Revised Code / Title 11 / Chapter 1113 / § 1113.02
§ 1113.02. Incorporating a stock state bank
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Five or more natural persons, at least one of whom is a resident of this state, may, with the approval of the superintendent of financial institutions, incorporate a stock state bank. (B) The persons proposing to incorporate a stock state bank shall apply for approval of the proposed bank by submitting the application prescribed by the superintendent, which application shall include all of the following: (1) The proposed articles of incorporation and code of regulations; (2) An application for reservation of a name in accordance with section 1103.07 of the Revised Code, if reservation is desired by the incorporators and has not been previously filed; (3) The location and a description of the proposed initial banking office; (4) Information to demonstrate the proposed bank will satisfy the requirements of division (C) of section 1113.03 and any other provision of the Revised Code identified by the superintendent; (5) Any other information the superintendent requires. (C) Notwithstanding division (A) of this section, a corporation may act as the sole incorporator of a stock state bank if either of the following applies: (1) The corporation is registered with the board of governors of the federal reserve system as a bank holding company; (2) The superintendent determines the corporation is intending to form either of the following: (a) A stock state bank that functions solely in a trust or fiduciary capacity and that meets all of the requirements set forth in section 2(c)(2)(D) of the "Bank Holding Company Act of 1956," 70 Stat. 133, 12 U.S.C. 1841(c)(2)(D), as amended; (b) A stock state bank that engages only in credit card operations, does not accept demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties or others, does not accept any savings or time deposit of less than one hundred thousand dollars, maintains only one office that accepts deposits, and does not engage in the business of making commercial loans.
Ohio Rev. Code § 1112.26 — Ohio Revised Code / Title 11 / Chapter 1112 / § 1112.26
§ 1112.26. Taking possession by superintendent
Status: in_force

September 14, 2016 House Bill 229 - 131st General Assembly (A) If the superintendent of financial institutions revokes a family trust company's license to do trust business in this state pursuant to division (A) of section 1111.32 of the Revised Code, the superintendent may take possession of the family trust company's trust business in this state and may appoint a receiver for the liquidation of the trust business in this state. If the family trust company has its principal place of business in this state, the superintendent may take possession of, and appoint a receiver for the liquidation of, its entire trust business wherever it is conducted. (B) The superintendent's taking possession of, and appointing a receiver for the liquidation of, a family trust company's trust business in this state under division (A) of this section and the liquidation of the family trust company's trust business in this state shall be conducted in accordance with the procedures and subject to the rights, powers, duties, requirements, and limitations provided in Chapter 1125. of the Revised Code for taking possession of the business and property and liquidation of a bank, except for the following: (1) After payment of the expenses of the liquidation and claims against the family trust company arising from its doing trust business in this state in accordance with divisions (A) and (B) of section 1125.25 of the Revised Code, the receiver shall distribute any remaining funds from the liquidation of the trust company's trust business in this state to the receiver for liquidation of the family trust company's trust business in another state of the United States or for conducting a liquidation of all or part of the family trust company's trust business under laws of the United States, or equitably among the receivers if the trust company's trust business is being liquidated under the laws of more than one other state or the United States, for payment of the expenses of liquidation and claims against the family trust company's trust business. If there is no liquidation of the family trust company's trust business under way in any other state or under laws of the United States, the receiver shall, after satisfying the requirements of divisions (A) and (B) of section 1125.25 of the Revised Code, pay any remaining funds from the liquidation of the family trust company's trust business in this state to the family trust company. (2) When the receiver has completed the liquidation of the family trust company's trust business in this state, the receiver shall, with notice to the superintendent, petition the court for an order declaring the family trust company's trust business in this state is properly wound up in the manner provided in section 1125.30 of the Revised Code. Upon the filing of the petition, the court shall proceed as provided in section 1125.30 of the Revised Code. An order issued by the court pursuant to a petition filed under division (B)(2) of this section shall comply with section 1125.30 of the Revised Code. However, the order shall only declare the family trust company's trust business in this state has been properly wound up and shall not declare the family trust company is dissolved. The court may make whatever additional orders and grant whatever additional relief the court determines is proper upon the evidence submitted. Once the order is issued declaring the family trust company's trust business in this state is properly wound up, both of the following shall occur: (a) The family trust company shall, except for any further winding up, cease engaging in trust business in this state and, if the family trust company has its principal place of business in this state, cease engaging in trust business in any jurisdiction. (b) The receiver shall promptly file, with both the secretary of state and the superintendent, a copy of the order, certified by the clerk of the court. (C) If the family trust company is a bank doing business under authority granted by the superintendent, all of the following apply: (1) If the family trust company is being liquidated under Chapter 1125. of the Revised Code, the trust company's trust business shall also be liquidated even if there would not be independent grounds for liquidation of the trust business under this section. (2) If the family trust company's trust business is being liquidated under this section and the trust company as a whole is being liquidated under Chapter 1125. of the Revised Code, the liquidations shall be merged. (3) If the family trust company is not authorized to engage in any business other than trust business, its liquidation shall be of the company as a whole, conducted under Chapter 1125. of the Revised Code, and completed by the dissolution of the trust company.
Ohio Rev. Code § 1121.03 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.03
§ 1121.03. Adoption of administrative rules
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) The superintendent of financial institutions may adopt rules and standards to carry out the provisions of Chapters 1101. to 1127. of the Revised Code. No rule or standard adopted by the superintendent pursuant to this authority shall conflict with, abridge, or supersede any provision of the Revised Code unless the conflict, abridgement, or supersession is expressly authorized. The rules and standards shall be adopted pursuant to Chapter 119 of the Revised Code. (B) The superintendent may issue administrative guidelines to interpret or explain the provisions of Chapters 1101. to 1127. of the Revised Code and to identify, define, or provide examples of acts, practices, or circumstances the superintendent considers to be unsafe or unsound practices or to constitute participation in or consent to violations of Chapters 1101. to 1127. of the Revised Code.
Ohio Rev. Code § 1127.02 — Ohio Revised Code / Title 11 / Chapter 1127 / § 1127.02
§ 1127.02. Insolvent bank receiving deposit
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly No regulated person shall receive, or permit to be received, money, checks, drafts, or other property as a deposit in a bank, when the regulated person knows the bank is insolvent.
Ohio Rev. Code § 1112.21 — Ohio Revised Code / Title 11 / Chapter 1112 / § 1112.21
§ 1112.21. Reports
Status: in_force

September 14, 2016 House Bill 229 - 131st General Assembly Each family trust company licensed under this chapter shall file with the superintendent of financial institutions any report the superintendent may require, in the form and manner and containing the information prescribed by the superintendent.
Ohio Rev. Code § 1114.03 — Ohio Revised Code / Title 11 / Chapter 1114 / § 1114.03
§ 1114.03. Notice of proposed incorporation
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Within ten days after receipt from the superintendent of financial institutions of notice of acceptance of an application for approval to incorporate a mutual state bank, the incorporators shall publish notice of the proposed incorporation in a newspaper of general circulation in the county where the bank's initial banking office is to be located. The incorporators shall publish the notice once a week for two weeks and furnish a certified copy of it to the superintendent. The notice shall specify the name of the proposed bank, its location, the amount of the proposed capital, the names of the incorporators, the address of the superintendent, and the date by which comments on the application must be filed with the superintendent, which date shall be thirty days after the date of the first publication of the notice. (B) If any comments on the application are filed with the superintendent within the thirty-day period prescribed in division (A) of this section, the superintendent shall determine whether the comments are relevant to the requirements for incorporation of a mutual state bank and, if so, investigate the comments in the manner the superintendent considers appropriate. (C) The superintendent shall examine all of the facts connected with the application to determine if all of the following requirements are met: (1) The proposed articles of incorporation and code of regulations, application for reservation of name, applicable fees, and other items required meet the requirements of the Revised Code. (2) The population and economic characteristics of the area primarily to be served afford reasonable promise of adequate support for the proposed bank. (3) The competence, experience, and integrity of the proposed directors and officers are such as to command the confidence of the community and warrant the belief that the business of the proposed bank will be honestly and efficiently conducted. (4) The capital of the proposed bank is adequate in relation to the amount and character of the anticipated business of the bank and the safety of prospective depositors. (D) Within one hundred eighty days following the date of acceptance of the application, the superintendent shall approve or disapprove the incorporation of the proposed bank upon the basis of the examination. In giving approval, the superintendent may impose conditions to be met prior to the issuance of a certificate of authority to commence business under section 1114.07 of the Revised Code. (E) If the superintendent approves the application, the superintendent shall make a certificate to that effect and forward the certificate and the articles of incorporation of the proposed bank to the secretary of state for filing.
Ohio Rev. Code § 1105.01 — Ohio Revised Code / Title 11 / Chapter 1105 / § 1105.01
§ 1105.01. Authority, number, terms and classes of directors
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Except where the Revised Code, the articles of incorporation, or the code of regulations require action to be authorized or taken by shareholders or members, all of the authority of a state bank shall be exercised by or under the direction of the bank's board of directors. The board of directors shall consist of not less than five directors. (B) Unless the articles of incorporation or the code of regulations provide for a different term, which may not exceed three years from the date of the director's election and until the director's successor is elected and qualified, each director shall hold office until the next annual meeting of the shareholders or members and until the director's successor is elected and qualified, or until the director's earlier resignation, removal from office, or death. (C) The articles of incorporation or the code of regulations may provide for the classification of directors into either two or three classes consisting of not less than two directors each. The terms of office of the several classes need not be uniform, except that no term shall exceed the maximum time specified in division (B) of this section.
Ohio Rev. Code § 1107.13 — Ohio Revised Code / Title 11 / Chapter 1107 / § 1107.13
§ 1107.13. Bank may purchase its own shares
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly With the prior written approval of the superintendent of financial institutions, a stock state bank may purchase its own shares in accordance with section 1701.35 of the Revised Code. (B) A stock state bank that acquires shares of its stock shall retire or dispose of the shares at the time and in the manner required by the superintendent.
Ohio Rev. Code § 1109.441 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.441
§ 1109.441. Additional investment authority
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly Only for investments made under section 1109.44 of the Revised Code may a state bank invest in securities pursuant to section 1109.39 of the Revised Code or make investments pursuant to section 1109.40 of the Revised Code that result in any of the following: (A) The state bank, directly or indirectly, or acting through one or more other persons, owning, controlling, or having the power to vote twenty-five per cent or more of any class of voting securities of the company in which the investment is being made; (B) The state bank controlling in any manner the election of a majority of the directors or trustees of the company in which the investment is being made; (C) As determined by the superintendent of financial institutions after notice and opportunity for a hearing, the state bank directly or indirectly exercising a controlling influence over the management or policies of the company in which the investment is being made.
Ohio Rev. Code § 1113.15 — Ohio Revised Code / Title 11 / Chapter 1113 / § 1113.15
§ 1113.15. Availability of basic financial information
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Prior to each annual meeting of its shareholders, each stock state bank shall make basic financial information available to its shareholders in accordance with this section unless the bank is either of the following: (1) Subject to the registration requirements of section 12 of the "Securities Exchange Act of 1934," 48 Stat. 892, 15 U.S.C.A. 78l, as amended. (2) Wholly owned, except for directors' qualifying shares, by a bank holding company. (B) The basic financial information required to be made available under this section shall include, at a minimum, information substantially similar to both of the following: (1) Those portions of the consolidated reports of income made to the superintendent of financial institutions for each of the two preceding full years covering all of the following: (a) Sources and disposition of income; (b) Changes in equity capital; (c) Allowance for possible loan losses. (2) The balance sheet portion of the consolidated reports of condition made to the superintendent at the end of each of the two preceding years. (C) The bank may present the basic financial information in any format it determines suitable, including copies of the relevant portions of the consolidated reports of condition and income or an annual report. (D) The bank shall make the basic financial information available by doing either of the following: (1) Sending the information to each shareholder prior to, or concurrently with, the notice of the annual meeting of shareholders; (2) Including in, or sending with, the notice of the annual meeting of shareholders a statement indicating that basic financial information concerning the bank for the two years preceding the meeting may be obtained from the bank without charge, accompanied by the address, telephone number, and name or title of the bank employee or officer whom shareholders should contact for the information, and promptly mailing, delivering, or otherwise sending the information to any shareholder who requests it.
Ohio Rev. Code § 1114.04 — Ohio Revised Code / Title 11 / Chapter 1114 / § 1114.04
§ 1114.04. Articles of incorporation
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A mutual state bank's articles of incorporation shall contain all of the following: (1) The name of the bank; (2) The place in this state where the bank's principal place of business is to be located; (3) The purpose or purposes for which the bank is formed. (B) The articles of incorporation may also set forth any lawful provision for the purpose of defining, limiting, or regulating the exercise of the authority of the bank, the incorporators, the directors, the officers, the members, and any provision that may be set forth in the bank's code of regulations.
Ohio Rev. Code § 1121.19 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.19
§ 1121.19. Self-assessment report
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) As used in this section, a "self-assessment report" of a bank includes, but is not limited to, all of the following: (1) An evaluation of the bank's loan underwriting standards, asset quality, financial reporting to federal or state regulatory agencies, and compliance with its policies and with federal or state statutory or regulatory requirements; (2) Any communication related to the report, including electronic mails or telephone logs. (B) A self-assessment report, any portion or contents of the report, and any documents, data, compilations, analyses, or other information and material generated, created, produced, developed, or prepared as part of the self-assessment process, are privileged and not admissible or subject to discovery in any civil or administrative litigation, action, proceeding, or investigation. (C) The self-assessment privilege granted by this section to a bank and its affiliates applies regardless of whether a bank regulator or any other governmental authority in possession of a self-assessment report or any portion or contents of it subsequently discloses it or any portion or contents of it to a third party as required or permitted by any state or federal law. (D) Notwithstanding any applicable state or federal public records law, a bank regulator or any other governmental authority in possession of a self-assessment report or any portion or contents of it shall not disclose the report or any portion or contents of it to any person in response to a public records request.
Ohio Rev. Code § 1111.21 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.21
§ 1111.21. Stated capital security for faithful discharge of duties
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) The stated capital of a trust company, with the liabilities of the shareholders existing under the terms of the shares, shall be held as security for the faithful discharge of the duties undertaken by the trust company in respect to any trust or in any fiduciary capacity. (B)(1) Except as provided in division (B)(2) of this section, no bond or other security shall be required from any trust company with respect to any trust or when the trust company is appointed executor, administrator, guardian, trustee, receiver, assignee, or safekeeping agent. (2) A court or officer appointing a trust company executor, administrator, guardian, trustee, receiver, assignee, or safekeeping agent may, upon proper application, require the trust company to give security for the faithful performance of its duties. The court or officer may revoke the appointment if the trust company fails to give the security required.
Ohio Rev. Code § 1119.22 — Ohio Revised Code / Title 11 / Chapter 1119 / § 1119.22
§ 1119.22. Revoking or suspending license
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A)(1) If the superintendent of financial institutions determines, after notice and an opportunity for hearing in accordance with sections 1121.37 and 1121.38 of the Revised Code, any of the following conditions exists, the superintendent may revoke any license the foreign bank has to operate a representative office, agency, or branch in this state: (a) The existence of the foreign bank or its authority to transact business has been terminated or suspended by the appropriate authorities in the country that granted the foreign bank's banking charter. (b) The foreign bank or any representative office, agency, or branch of the foreign bank is violating, has violated, or, the superintendent has reasonable cause to believe, is about to violate, any of the following: (i) A law or rule; (ii) A condition imposed in writing by the superintendent in connection with granting an application or other request by the foreign bank or the representative office, agency, or branch; (iii) A written agreement the foreign bank or any representative office, agency, or branch of the foreign bank has entered into with the superintendent. (c) The foreign bank or any representative office, agency, or branch of the foreign bank is engaging, has engaged, or, the superintendent has reasonable cause to believe, is about to engage, in any unsafe or unsound practice in conducting the business of the foreign bank or the representative office, agency, or branch. (d) The foreign bank is insolvent. (e) The foreign bank has suspended payment of its obligations, made an assignment for the benefit of its creditors, or admitted in writing its inability to pay its debts as they become due. (f) The foreign bank is subject to or has applied for an adjudication in bankruptcy, reorganization, or other relief under any bankruptcy, reorganization, insolvency, or moratorium law. (g) A receiver, liquidator, or conservator has been appointed for the foreign bank, or any representative office, agency, or branch of the foreign bank in any jurisdiction, or any proceeding for the appointment of a receiver, liquidator, or conservator, or any similar proceeding, has been initiated in the country that granted the foreign bank's charter. (h) The representative office, agency, or branch has been closed or has otherwise ceased to conduct business. (2) The foreign bank's opportunity for a hearing lapses if the foreign bank does not, within fifteen days after receipt of the superintendent's notice, request a hearing in writing. (B)(1) If the superintendent has reasonable cause to believe any of the conditions set forth in division (A) of this section exists, and the superintendent determines it is necessary to protect the interests of the foreign bank's creditors, the general public, or, where applicable, the depositors of the foreign bank's agency or branch, the superintendent may issue an order immediately suspending the foreign bank's license to operate the representative office, agency, or branch in this state. (2) Within ten days after being served an order suspending a foreign bank's license to operate a representative office, agency, or branch in this state, the foreign bank may apply to the court of common pleas of any county in this state in which the foreign bank is doing business, or the court of common pleas of Franklin county, for an injunction setting aside, limiting, or suspending enforcement of the suspension order pending an opportunity for a hearing before the superintendent on whether the foreign bank's license to operate a representative office, agency, or branch in this state should be revoked, and the court has jurisdiction to issue the injunction.
Ohio Rev. Code § 1113.04 — Ohio Revised Code / Title 11 / Chapter 1113 / § 1113.04
§ 1113.04. Articles of incorporation
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A stock state bank's articles of incorporation shall contain all of the following: (1) The name of the bank; (2) The place in this state where the bank's principal place of business is to be located; (3) The purpose or purposes for which the bank is formed; (4) The maximum number and the par value of shares the bank is authorized to have outstanding and their express terms, if any. The articles of incorporation shall not authorize shares without par value. If the shares are to be classified, the designation of each class, the number and par value of the shares of each class, and the express terms, if any, of the shares of each class shall be included. (B) The articles of incorporation may also set forth any lawful provision for the purpose of defining, limiting, or regulating the exercise of the authority of the stock state bank, the incorporators, the directors, the officers, the shareholders, or the holders of any class of shares, and any provision that may be set forth in the bank's code of regulations.
Ohio Rev. Code § 1121.15 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.15
§ 1121.15. Maintaining books and accounts
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) The superintendent of financial institutions may prescribe the manner and form of keeping the books and accounts of state banks, so the books and accounts may be as nearly uniform as circumstances permit. (B) Any person that, by contract or otherwise, performs services for a state bank or trust company or a representative office, agency, or branch licensed under Chapter 1119. of the Revised Code, whether on or off the premises of the bank, trust company, representative office, agency, or branch, is subject to examination by the superintendent as to the books and records of the bank, trust company, representative office, agency, or branch in the person's possession, to the same extent as if the services were being performed by the bank, trust company, representative office, agency, or branch itself. For the purposes of this division, "services" includes clerical, bookkeeping, accounting, statistical, and other services. A state bank, trust company, representative office, agency, or branch shall notify the superintendent in writing whenever another person is performing services of this kind for the bank, trust company, representative office, agency, or branch, or the bank, trust company, representative office, agency, or branch changes the person performing the services.
Ohio Rev. Code § 1121.16 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.16
§ 1121.16. Prohibited acts; violations
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) No state bank, trust company, or regulated person shall do any of the following: (1) Refuse to allow any examination authorized by section 1121.10 of the Revised Code; (2) Refuse to give information required by the division of financial institutions in the course of or in relation to an examination authorized by section 1121.10 of the Revised Code; (3) Provide false or misleading information in the course of or in relation to an examination authorized by section 1121.10 of the Revised Code, knowing it to be false or misleading. (B) If a state bank, trust company, or regulated person violates division (A) of this section, the superintendent may do any of the following: (1) Issue a cease and desist order pursuant to section 1121.32 of the Revised Code, issue a removal or prohibition order pursuant to section 1121.33 of the Revised Code, issue a suspension or temporary prohibition order pursuant to section 1121.34 of the Revised Code, or assess a civil penalty pursuant to section 1121.35 of the Revised Code; (2) Appoint a conservator for the state bank pursuant to section 1125.09 of the Revised Code; (3) Initiate civil or criminal proceedings the superintendent considers appropriate.
Ohio Rev. Code § 1125.27 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.27
§ 1125.27. Receiver may appoint successor
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) The receiver may appoint a successor to all rights, obligations, assets, deposits, agreements, and trusts held by the closed state bank as trustee, administrator, executor, guardian, agent, or in any other fiduciary or representative capacity. The successor's duties and obligations commence upon appointment to the same extent they are binding upon the former bank and as though the successor had originally assumed the duties and obligations. Specifically, the successor shall succeed to and be entitled to administer all trusteeships, administrations, executorships, guardianships, agencies, and all other fiduciary or representative proceedings to which the closed bank is named or appointed in wills, whenever probated, or to which it is appointed by any other instrument, court order, or operation of law. (B) Within sixty days after appointment, the successor shall give written notice, insofar as practicable, to all interested parties named in the books and records of the bank or in trust documents held by it, that the successor has been appointed in accordance with state law. (C) Nothing in this section shall be construed to impair any right of the grantor or beneficiaries of trust assets to secure the appointment of a substituted trustee or manager.
Ohio Rev. Code § 1127.06 — Ohio Revised Code / Title 11 / Chapter 1127 / § 1127.06
§ 1127.06. Violation of superintendent of financial institutions order
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly No person subject to an order issued by the superintendent of financial institutions under section 1121.33 or 1121.34 of the Revised Code shall knowingly participate, directly or indirectly, in any manner, including by engaging in an activity specifically prohibited in the order, in the conduct of the affairs of any bank or trust company.
Ohio Rev. Code § 1109.04 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.04
§ 1109.04. Good faith reliance; electronic statements and notice
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A bank may, in good faith, rely: (1) On any and all information, agreements, documents, and signatures provided by its customers as being true, accurate, complete, and authentic and representing what they purport to represent; and (2) That the persons signing have full capacity and complete authority to execute and deliver any and all such documents and agreements and to act in such capacity as may be represented to the bank. As used in this division, "good faith" has the same meaning as in section 1301.201 of the Revised Code. (B) A bank may, with the customer's consent, provide electronically any statement, notice, or report required to be provided customers under this chapter. A customer's consent may be obtained electronically or in writing. (C) A bank customer may, with the bank's consent, provide electronically any notice required to be provided to the bank under this chapter. A bank's consent may be obtained electronically or in writing.
Ohio Rev. Code § 1117.04 — Ohio Revised Code / Title 11 / Chapter 1117 / § 1117.04
§ 1117.04. Relocating a banking office
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly A bank proposing to relocate a banking office shall do the following: (A) If the banking office is to be relocated within a one-mile radius of the banking office's current location, the bank shall notify the superintendent of financial institutions and comply with the relocation procedures established by the superintendent. (B) If the banking office is to be relocated outside a one-mile radius of the banking office's current location, the bank shall obtain the superintendent's approval for the relocation in accordance with the procedures set forth in section 1117.02 of the Revised Code for establishing a banking office and comply with the banking office closing procedures established by the superintendent.
Ohio Rev. Code § 1111.07 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.07
§ 1111.07. No transferring or assigning license
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A trust company's license to solicit or engage in trust business in this state is not transferable or assignable. (B) Subject to section 2109.28 of the Revised Code, if any trust company enters into a merger or consolidation in which the trust company is not the surviving corporation, or transfers all or substantially all of its assets and liabilities to another corporation, the resulting, surviving, or transferee corporation shall succeed the trust company as fiduciary as a matter of law and without necessity to do anything further, if the resulting, surviving, or transferee corporation is a trust company or a national bank or federal savings association authorized to accept and execute trusts and doing business under authority granted by the office of the comptroller of the currency. If the trust company is not the surviving corporation of a merger, enters a consolidation, or after transferring substantially all of its assets and liabilities ceases to solicit or engage in trust business in this state, the trust company shall surrender its trust company license in accordance with section 1111.31 of the Revised Code.
Ohio Rev. Code § 1113.12 — Ohio Revised Code / Title 11 / Chapter 1113 / § 1113.12
§ 1113.12. Adoption of amendment to articles or amended articles - approval of superintendent
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) After subscriptions to shares have been received by the incorporators, the shareholders of a stock state bank may, subject to the requirements of this section, adopt amendments to the bank's articles of incorporation or adopt amended articles of incorporation to change any provision of, or add any provision that may properly be included in, the articles of incorporation. (1) The shareholders may adopt an amendment to the bank's articles of incorporation or amended articles of incorporation at a meeting held for that purpose, as follows: (a) By the affirmative vote of the holders of shares entitling them to exercise two-thirds of the voting power of the bank on the proposal or, if the articles of incorporation provide or permit, by the affirmative vote of a greater or lesser proportion, but not less than a majority, of the voting power; (b) When the holders of shares of a particular class are entitled to vote as a class, by the affirmative vote of the holders of at least two-thirds or, if the articles of incorporation provide or permit, a greater or lesser portion, but not less than a majority, of the shares of the class. (2) The shareholders may adopt amended articles of incorporation to consolidate the original articles of incorporation and all previously adopted amendments to the articles of incorporation at a meeting held for that purpose by the affirmative vote of holders of shares entitling them to exercise a majority of the voting power of the bank on the proposal. (3) The shareholders may adopt an amendment to the bank's articles of incorporation or amended articles of incorporation without a meeting by the written consent of all of the holders of shares who would be entitled to vote at a meeting held for that purpose. (B) Any amendment or amended articles of incorporation of a stock state bank that would eliminate cumulative voting rights, as permitted by section 1701.69 of the Revised Code, shall not be adopted if the votes of a sufficient number of shares are cast against the amendment or amended articles of incorporation that, if cumulatively voted at an election of all directors or all directors of a particular class, would be sufficient, at the time the shareholders vote on the proposal, to elect at least one director. (C) The shareholders of a stock state bank may adopt an amendment to the bank's articles of incorporation to authorize the purchase of the bank's shares, if the amendment states that the superintendent of financial institutions must approve the purchase in writing prior to each purchase of shares. (D) The shareholders of a stock state bank may adopt an amendment to the bank's articles of incorporation to permit the bank to have authorized and unissued shares or treasury shares. (E) Amended articles of incorporation shall set forth all provisions required in, and only provisions that may properly be in, original articles of incorporation or amendments to articles of incorporation at the time the amended articles of incorporation are adopted, and shall state that they supersede the existing articles of incorporation. (F)(1) If the shareholders propose the adoption of any amendment to a stock state bank's articles of incorporation or amended articles of incorporation, the bank shall send to the superintendent a copy of the proposed amendment or amended articles of incorporation for review and approval prior to adoption by the shareholders. (2) Upon receiving a proposed amendment or amended articles of incorporation, the superintendent shall conduct whatever examination the superintendent considers necessary to determine if both of the following conditions are satisfied: (a) The proposed amendment or amended articles of incorporation comply with the requirements of the Revised Code. (b) The proposed amendment or amended articles of incorporation will not adversely affect the interests of the bank's depositors and creditors and the convenience and needs of the public. (3) Within forty-five days after receiving the proposed amendment or amended articles of incorporation, the superintendent shall notify the bank of the superintendent's approval or disapproval unless the superintendent determines additional information is required. In that event, the superintendent shall request the information in writing within twenty days after the date the proposed amendment or amended articles of incorporation were received. The bank shall have thirty days to submit the information to the superintendent. The superintendent shall notify the bank of the superintendent's approval or disapproval of the proposed amendment or amended articles of incorporation within forty-five days after the date the additional information is received. If the proposed amendment or amended articles of incorporation are disapproved by the superintendent, the superintendent shall notify the bank of the reasons for the disapproval. (4) If the superintendent fails to approve or disapprove the proposed amendment or amended articles of incorporation within the time period required under division (F)(3) of this section, the proposed amendment or amended articles of incorporation shall be considered approved. (5) If the proposed amendment or amended articles of incorporation are approved, in no event shall that approval be construed or represented as an affirmative endorsement of the amendment or amended articles of incorporation by the superintendent. (G)(1) Upon adoption by the shareholders of any approved amendment to a stock state bank's articles of incorporation, the bank shall send to the superintendent a certificate containing a copy of the shareholders' resolution adopting the amendment and a statement of the manner of its adoption. If the directors proposed the amendment, the certificate shall include a copy of the resolution adopted by the directors to propose the amendment to the shareholders. The certificate shall be signed by the bank's authorized representatives in accordance with section 1103.19 of the Revised Code. (2) Upon adoption by the shareholders of approved amended articles of incorporation, the bank shall send to the superintendent a copy of the amended articles of incorporation, accompanied by a certificate containing a copy of the shareholders' resolution adopting the amended articles of incorporation and a statement of the manner of its adoption. If the directors proposed the amended articles of incorporation, the certificate shall include a copy of the resolution adopted by the directors to propose the amended articles of incorporation to the shareholders. The certificate shall be signed by the bank's authorized representatives in accordance with section 1103.19 of the Revised Code. (H) Upon receiving a certificate required by division (G) of this section, the superintendent shall conduct whatever examination the superintendent considers necessary to determine if the manner of adoption of the amendment or amended articles of incorporation complies with the requirements of the Revised Code. (I)(1) Within thirty days after receiving a certificate required by division (G) of this section, the superintendent shall approve or disapprove the amendment or amended articles of incorporation. If the superintendent approves the amendment or amended articles of incorporation, the superintendent shall forward a certificate of that approval, a copy of the certificate required by division (G) of this section, and a copy of the amendment or amended articles of incorporation, to the secretary of state, who shall file the documents. Upon filing by the secretary of state, the amendment or amended articles of incorporation shall be effective. (2) If the superintendent fails to approve or disapprove the amendment or amended articles of incorporation within thirty days after receiving a certificate required by division (G) of this section, the bank shall forward a copy of the certificate and a copy of the amendment or amended articles of incorporation to the secretary of state, who shall file the documents. Upon filing by the secretary of state, the amendment or amended articles of incorporation shall be effective.
Ohio Rev. Code § 1121.101 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.101
§ 1121.101. Frequency of bank examinations
Status: in_force

March 20, 2019 House Bill 489 - 132nd General Assembly (A) Notwithstanding section 1121.10 of the Revised Code, and subject to division (B) of this section, the superintendent of financial institutions shall not conduct an examination of a state bank more frequently than once every twenty-four-month cycle, if the bank meets both of the following conditions: (1) It has assets of ten billion dollars or less. (2) Under the uniform financial institutions rating system, it maintains a composite rating of one. (B) The superintendent may conduct more frequent examinations if either of the following applies: (1) The superintendent has reasonable cause to believe that there is a risk of harm to the bank and the examination of the bank is necessary to fully determine the risk to the bank or to determine how best to address the risk. (2) The superintendent participates with financial institution regulatory authorities of other states or the United States in a joint, concurrent, or coordinated examination. (C) A bank's composite rating used for purposes of division (A)(2) of this section is not a public record under section 149.43 of the Revised Code.
Ohio Rev. Code § 1121.50 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.50
§ 1121.50. Independent auditor
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) As used in this section, "independent auditor" means an external, unaffiliated auditor who has a certified public accounting designation that qualifies the person to provide an auditor's report. (B) The superintendent of financial institutions may, when circumstances warrant, require a bank or trust company to have an independent auditor conduct agreed upon procedures prescribed by the superintendent. The independent auditor shall be retained, and the expense of the agreed upon procedures shall be paid, by the bank or trust company. The agreed upon procedures shall be conducted in accordance with standards established by the American institute of certified public accountants. (C) The board of directors of the bank or trust company shall, within sixty days after receipt of the report prepared by the independent auditor for the agreed upon procedures conducted pursuant to this section, prepare a response to the report and file the report and the board's response with the superintendent. A report and response filed with the superintendent pursuant to this section may be disclosed only as provided in section 1121.18 of the Revised Code.
Ohio Rev. Code § 1117.01 — Ohio Revised Code / Title 11 / Chapter 1117 / § 1117.01
§ 1117.01. Banking office locations
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Subject to section 1115.05 and Chapter 1119. of the Revised Code, a bank, regardless of the location of its principal place of business, may establish or acquire and maintain a banking office in this state. (B)(1) With the prior written approval of the superintendent of financial institutions obtained in accordance with section 1117.02 of the Revised Code, a state bank may establish or acquire a banking office at any of the following locations: (a) Any location in this state; (b) Any location in another state of the United States; (c) Any location outside the United States. (2) The superintendent may condition approval of a banking office at any location authorized by division (B)(1)(b) or (c) of this section on an agreement satisfactory to the superintendent providing for the times, method, and reimbursement of expenses for examining the banking office.
Ohio Rev. Code § 1119.13 — Ohio Revised Code / Title 11 / Chapter 1119 / § 1119.13
§ 1119.13. Branch defined
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly No foreign bank licensed under this chapter to operate a representative office or an agency shall use the term "branch" to identify that representative office or agency. A foreign bank may use the term "branch" in a description of a representative office or agency that the foreign bank has clearly identified as licensed as a representative office or agency, as the case may be, under this chapter.
Ohio Rev. Code § 1107.15 — Ohio Revised Code / Title 11 / Chapter 1107 / § 1107.15
§ 1107.15. Declaring dividends and distributions
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly A stock state bank's board of directors may declare dividends and distributions on the bank's outstanding shares, subject to all of the following conditions: (A) Except as otherwise provided in division (B) of this section, payment of a dividend or distribution may only be funded from undivided profits or, subject to the approval of the superintendent of financial institutions, from a special reserve created from proceeds from the sale of bank stock. (B) A dividend or distribution may be funded, in whole or in part, from surplus with the approval of both of the following: (1) The holders of at least two-thirds of the outstanding shares of each class of the bank's stock; (2) The superintendent. (C) A dividend or distribution may be paid in treasury shares or in authorized but unissued shares, if the board makes the required transfers to surplus and paid-in capital. (D) The approval of the superintendent is required for the declaration of dividends and distributions if the total of all dividends and distributions declared on the bank's shares in any year, and not paid in shares, exceeds the total of its net income for that year combined with its retained net income of the preceding two years. (E) Prior to the declaration of any dividend or distribution the bank has made all required allocations to reserves for losses or contingencies. Disclaimer Contact About
Ohio Rev. Code § 1119.05 — Ohio Revised Code / Title 11 / Chapter 1119 / § 1119.05
§ 1119.05. Applying for preliminary approval of representative office
Status: in_force

October 9, 2021 House Bill 263 - 133rd General Assembly (A)(1) For each representative office a foreign bank proposes to operate, the foreign bank shall first submit to the superintendent of financial institutions an application for preliminary approval of the representative office. The superintendent shall approve or disapprove the application within sixty days after accepting the application. (2) In determining whether to approve or disapprove the foreign bank's application, the superintendent shall consider all of the following: (a) Whether the foreign bank is subject to comprehensive supervision and regulation on a consolidated basis by the appropriate authorities in the country that granted its banking charter; (b) Whether the management of the foreign bank and the proposed management of the representative office are adequate; (c) Whether any controlling person of the foreign bank, each director and executive officer of the foreign bank, and each director and executive officer of any controlling person of the foreign bank is competent and of sound financial standing; (d) Whether the capital and financial resources of the foreign bank are adequate; (e) Whether the foreign bank is currently operating in compliance with applicable laws, regulations, and orders; (f) Whether it is reasonable to believe the foreign bank will operate the representative office in compliance with applicable laws, regulations, and orders; (g) Any other reasonable criteria the superintendent may prescribe. (B) The superintendent shall issue a license to a foreign bank to operate the representative office if all of the following have occurred: (1) The superintendent has approved the foreign bank's application for preliminary approval to operate the representative office under division (A) of this section. (2) The foreign bank has met all conditions of the superintendent's preliminary approval. (3) The foreign bank has delivered to the superintendent an appointment of an agent for service of process, the agent's acknowledgment of the appointment, and the foreign bank's agreement to service of process upon the superintendent if reasonable efforts to serve the foreign bank's agent or place of business in this state are unsuccessful. Last updated October 9, 2021 at 5:20 AM
Ohio Rev. Code § 1121.12 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.12
§ 1121.12. Examining person who, directly or indirectly, controls bank
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly An examination of the records and affairs of a state bank under section 1121.10 of the Revised Code may include the examination of a person who, directly or indirectly, controls the bank that is a bank holding company registered with the federal reserve or a savings and loan holding company, but only to the extent explicitly permitted under this section. To examine the records and affairs of a person who, directly or indirectly, controls a bank that is a bank holding company registered with the federal reserve or a savings and loan holding company, the superintendent of financial institutions may do one of the following: (A) Rely on an examination of the bank holding company or savings and loan holding company conducted by a financial institution regulatory authority of another state, the United States, or another country, as provided in division (A)(3) of section 1121.11 of the Revised Code; (B) Participate with the financial institution regulatory authorities of other states, the United States, and other countries in a joint or coordinated examination of the bank holding company or savings and loan holding company, provided that both of the following apply: (1) The examination of the bank holding company or savings and loan holding company is validly authorized by and conducted pursuant to the laws of this state and such other state, the United States, or other country. (2) Participation of the examiners of the division of financial institutions will increase the efficiency in regulating financial institutions, and not increase the cost of examination to the bank holding company or savings and loan holding company. (C) Examine the bank holding company or savings and loan holding company pursuant to an agreement with financial institution regulatory authorities of other states, the United States, or other countries, provided that both of the following apply: (1) The examination of the bank holding company or savings and loan holding company is validly authorized by and conducted pursuant to the laws of this state and such other state, the United States, or other country. (2) The other financial institution regulatory authority agrees to rely on the superintendent's examination in lieu of conducting its own examination. (D) Examine the bank holding company or savings and loan holding company if both of the following apply: (1) The superintendent has reasonable cause to believe that there is a significant risk of imminent material harm to the bank, or to any subsidiary or nonbank affiliate as its affairs relate to the bank, and the examination of the bank holding company or savings and loan holding company is necessary to fully determine the risk to the bank, or to determine how best to address the risk to the bank. (2) Either of the following occurs: (a) The superintendent, in writing, requests the federal reserve to examine the bank holding company, and within fifteen days the federal reserve does not commence an examination of the bank holding company and notifies the superintendent that the federal reserve does not object to the examination. (b) The banking commission concurs with the superintendent's determination of both of the following: (i) There is reasonable cause to believe that there is a significant risk of imminent material harm to the bank. (ii) The examination of the bank holding company or savings and loan holding company is necessary to fully determine the risk to the bank, or to determine how best to address the risk to the bank. (E) For purposes of this section, a bank holding company includes not only the bank holding company, but also includes any nonbank affiliates of the bank holding company that are subject to examination by the federal reserve.
Ohio Rev. Code § 1105.10 — Ohio Revised Code / Title 11 / Chapter 1105 / § 1105.10
§ 1105.10. Removing director; vacancy
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Once elected or appointed, a director may be removed as follows: (1) By the board of directors or the superintendent of financial institutions if any of the following applies: (a) The director has filed for relief or is a debtor in a case filed under Title XI of the United States Code; (b) A court has determined the director is incompetent; (c) The director has been removed in accordance with federal law. (2) By the board of directors for any of the grounds set forth in the state bank's code of regulations or bylaws; (3) By a majority of the disinterested directors if they determine the director has a conflict of interest. (B)(1)(a) Except as provided in division (B)(1)(b) of this section, unless the articles of incorporation or the code of regulations of the state bank expressly provide that removal of members of the board of directors shall require a greater vote, the shareholders or members may remove all the directors, all the directors of a particular class, or any individual director from office, without assigning any cause, by the vote of the holders of a majority of the voting power entitling them to elect directors in place of those to be removed. (b) If the shareholders or members have the right to vote cumulatively in the election of directors of the bank, unless all the directors or all the directors of a particular class are removed, the vote of shareholders or members does not remove an individual director if the votes cast against the director's removal, if cumulatively voted at an election of all the directors or all the directors of a particular class, as the case may be, would be sufficient to elect at least one director. (2) If one or more directors is removed pursuant to division (B)(1) of this section, the shareholders or members may elect a new director at the same meeting for the unexpired term of each director removed. Failure of the shareholders or members to elect a director to fill the unexpired term of any director removed is deemed to create a vacancy in the board. (C) Unless the articles of incorporation or the code of regulations otherwise provide, the remaining directors, though less than a majority of the whole authorized number of directors, may, by the vote of a majority of their number, fill any vacancy in the board for the unexpired term. (1) A vacancy exists if the shareholders or members increase the authorized number of directors but fail at the meeting at which the increase is authorized, or an adjournment of the meeting, to elect the additional directors provided for, or if the shareholders or members fail at any time to elect the whole authorized number of directors. (2) The office of a member of the board of directors becomes vacant if the director dies, resigns, or is removed. A resignation takes effect immediately unless the director specifies another time. (D) If a vacancy created on the board of directors causes the number of directors to be less than that fixed by the articles of incorporation or code of regulations, the vacancy shall not be required to be filled until such time as an appropriate candidate is identified and duly appointed or elected. (E) Notwithstanding divisions (B) and (C) of this section, the requirement for a quorum set forth in section 1701.62 of the Revised Code applies to a state bank's board of directors.
Ohio Rev. Code § 1125.17 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.17
§ 1125.17. Full and exclusive powers and procedures for liquidation of banks
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly This chapter provides the full and exclusive powers and procedures for the liquidation of state banks under the laws of this state, and no receiver or other liquidating agent shall be appointed for that purpose except as expressly provided in this chapter.
Ohio Rev. Code § 1109.65 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.65
§ 1109.65. Tax certificate purchase
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly In order to protect its interest in a property, a state bank may purchase a tax certificate under section 5721.32 or 5721.33 of the Revised Code.
Ohio Rev. Code § 1116.21 — Ohio Revised Code / Title 11 / Chapter 1116 / § 1116.21
§ 1116.21. Conversion to stock holding company
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly A mutual holding company organized under this chapter may, with the approval of the superintendent of financial institutions, convert to a stock holding company by submitting an application in accordance with rules adopted by the superintendent under section 1121.03 of the Revised Code. Disclaimer Contact About
Ohio Rev. Code § 1113.16 — Ohio Revised Code / Title 11 / Chapter 1113 / § 1113.16
§ 1113.16. Shareholder voting
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly Except as otherwise expressly provided in the terms for any class of shares issued by a stock state bank, every holder of the bank's voting shares, in elections of directors and in deciding other questions at meetings of shareholders, is entitled to one vote for each share held and shall not accumulate the votes unless otherwise provided in the articles of incorporation. Any shareholder eligible to vote may vote by proxy authorized in writing. An appointment of a proxy shall expire in accordance with division (C) of section 1701.48 of the Revised Code. Unless the articles of incorporation, the code of regulations, or the contract of subscription otherwise provides, a subscriber for authorized shares is a shareholder for the purposes of this section, but no shares upon which an installment of the purchase price is overdue and unpaid shall be voted.
Ohio Rev. Code § 1109.31 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.31
§ 1109.31. Real estate investments
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A state bank may purchase, acquire by lease, or otherwise invest in the real estate and interests in real estate the board of directors considers necessary or convenient for transaction of the bank's business, including by ownership of an entity having as its exclusive authority the ownership and management of the bank's real estate interests. (B) A state bank may invest an amount equal to the greater of the bank's capital or ten per cent of its total assets in any other real estate. This limitation does not apply, however, to real estate acquired by foreclosure, conveyance in lieu of foreclosure, or other legal proceedings relating to loan security interests or otherwise in satisfaction of a debt previously contracted.
Ohio Rev. Code § 1125.24 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.24
§ 1125.24. Paying claims
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) All claims against the state bank's estate and expenses, proved to the receiver's satisfaction or approved by the court, shall be paid in the following order: (1) Expenses of liquidation and receivership, including money borrowed under authority of division (A)(6) of section 1125.22 or division (A)(7) of section 1125.12 of the Revised Code and interest on it, and claims for fees and assessments due the superintendent of financial institutions; (2) Claims given priorities under other provisions of state or federal law; (3) Wages, salaries, or commissions, including vacation, severance, and sick leave pay, of officers and employees earned during the one-month period preceding the date of the bank's closing in an amount, before applicable taxes and other withholdings, that does not exceed one thousand dollars for any one person; (4) Deposit obligations; (5) Other general liabilities; (6) Obligations subordinated to deposits and other general liabilities. (B) Interest shall be given the same priority as the claim on which it is based, but no interest shall be paid on any claim until the principal of all claims within the same class has been paid or provided for in full. (C) Any funds remaining after satisfying the requirements of divisions (A) and (B) of this section shall be paid to the shareholders or members. (D) Payment on claims shall be made pro rata among claims of the kind specified in each class set forth in division (A) of this section. (E) Subject to the approval of the court, the receiver may designate a separate class of claims consisting only of every unsecured claim that is less than, or reduced to, an amount the court approves for payment as reasonable and necessary for administrative convenience. (F) Subject to the approval of the court, the receiver may make periodic and interim liquidating dividends or payments.
Ohio Rev. Code § 1125.06 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.06
§ 1125.06. Submission of documents after completion of voluntary liquidation
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly Upon completion of a voluntary liquidation, the liquidated state bank shall submit to the superintendent of financial institutions all documents required under Chapter 1701. of the Revised Code for a dissolution. The superintendent shall consent to the dissolution, and shall cause a certified copy of the consent to be filed, along with the bank's dissolution documents, in the office of the secretary of state.
Ohio Rev. Code § 1116.10 — Ohio Revised Code / Title 11 / Chapter 1116 / § 1116.10
§ 1116.10. Governance by board of directors
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A mutual holding company and any subsidiary holding company shall be governed by a board of directors and in accordance with the articles of incorporation and code of regulations adopted in connection with the reorganization, or as amended in accordance with law or rule after the reorganization. (B) The board of the mutual holding company and any subsidiary holding company shall have at least five members who, initially, shall consist of the board of directors of the reorganizing mutual state bank. Such members, after the formation of the mutual holding company and any subsidiary holding company, shall continue to serve as directors for the balance of the terms to which they were elected.
Ohio Rev. Code § 1121.13 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.13
§ 1121.13. Examining other corporate persons who, directly or indirectly, control banks
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly An examination of the records and affairs of a state bank under section 1121.10 of the Revised Code may include the examination of a person who, directly or indirectly, controls the state bank and is a corporation that is not a bank holding company registered with the federal reserve or a savings and loan holding company, as its affairs relate to the bank.
Ohio Rev. Code § 1115.15 — Ohio Revised Code / Title 11 / Chapter 1115 / § 1115.15
§ 1115.15. Transferring assets and liabilities in an emergency
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly Whenever an emergency, as defined by the superintendent of financial institutions, exists with regard to a state bank, national bank, savings bank, or savings association that warrants, in the opinion of the superintendent and of a majority of the members of the respective boards of directors of the constituent corporations concerned, an immediate transfer of assets and liabilities, the board of directors of a state bank may, by majority vote, transfer the assets and liabilities of the state bank or acquire the assets and liabilities of another state bank or a national bank, savings bank, or savings association without the vote or approval of the shareholders of each constituent corporation involved in the proposed transfer. No transfer pursuant to this section involving a state bank shall be made without the written consent of the superintendent. Certified copies of all proceedings of its board of directors shall be filed with the superintendent by each constituent corporation involved in the transfer. A copy of the agreement between the constituent corporations shall accompany the copies of the proceedings of the boards of directors.
Ohio Rev. Code § 1109.01 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.01
§ 1109.01. Bank powers, rights and privileges generally
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A state bank may use, exercise, and enjoy all of the powers, rights, and privileges of a corporation as set forth in section 1701.13 of the Revised Code, unless otherwise provided in its articles of incorporation and except as otherwise expressly limited by Chapters 1101. to 1127. of the Revised Code. The powers authorized under this division include the power to receive any property of any description, or any interest in property, by gift, devise, or bequest, and to make donations for the public welfare or for charitable, scientific, or educational purposes. (B) A state bank may perform all acts necessary to carry into effect the powers authorized by Title XI of the Revised Code and the purposes for which the bank was created.