Ohio Rev. Code § 1111.26 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.26
§ 1111.26. Regulation by superintendent and division of financial institutions
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) Any trust company is subject to all powers of, and remedies and sanctions available to, the superintendent of financial institutions and the division of financial institutions under Chapters 1101. to 1127. of the Revised Code, in addition to the specific powers, remedies, and sanctions provided for in this chapter. (B)(1) With regard to a trust company that is not a bank doing business under authority granted by the superintendent, "regulated person," as used in division (B) of this section, means a director, officer, employee, or controlling shareholder of or agent for the trust company or a person who participates in the management of the trust company, whether or not the person is assigned to an office of the trust company in this state or specifically to the trust company's trust business in this state. (2) An order to cease and desist issued under section 1121.32 of the Revised Code, a removal or prohibition order issued under section 1121.33 of the Revised Code, or a suspension order issued under section 1121.34 of the Revised Code, which order is issued against a regulated person who is a regulated person because of the person's relationship with a trust company doing trust business in this state that is not a bank doing business under authority granted by the superintendent, does not affect the relationship between the regulated person and the trust company except as it relates to the conduct of the trust company's trust business in this state.
Ohio Rev. Code § 1121.52 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.52
§ 1121.52. Undercapitalization; capital restoration plan
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) If a state bank is undercapitalized, the superintendent of financial institutions shall notify the bank of the fact of the undercapitalization. The superintendent may require the bank to submit a written capital restoration plan to the superintendent within forty-five days after the bank receives that notice, unless the superintendent authorizes in writing a longer period of time. (B) A capital restoration plan required under this section shall specify all of the following: (1) The steps the state bank will take to become adequately capitalized; (2) The levels of capital to be attained during the time frame in which the plan will be in effect; (3) The types and levels of activities in which the bank will engage; (4) Any other information the superintendent may require. (C) The superintendent shall approve a capital restoration plan submitted under this section if the superintendent determines that the plan meets both of the following conditions: (1) It is based on realistic assumptions and is likely to succeed in restoring the bank's capital. (2) It would not appreciably increase the risk, including credit risk and interest rate risk, to which the bank is exposed. (D) If the superintendent fails to approve a state bank's capital restoration plan, the superintendent shall notify the bank and require it to submit a revised plan within a time period specified by the superintendent. Upon serving that notice, the superintendent may immediately appoint a conservator for the bank or take any other action authorized under section 1121.32 , 1121.33 , 1121.34 , 1121.35 , 1121.41 , or 1121.46 of the Revised Code or any other law or rule. (E) Both of the following apply to any state bank that has submitted and is operating under a capital restoration plan approved under this section: (1) The bank shall not be be required to submit an additional capital restoration plan based on a revised calculation of its capital measures unless specifically required to do so by the superintendent. A state bank that is notified that it must submit a new or revised plan shall file a written plan with the superintendent within thirty days after the bank receives the notice, unless the superintendent authorizes in writing a different period of time. (2) The bank may, after prior written notice to and approval by the superintendent, amend its capital restoration plan to reflect a change in circumstance. Until such time as a proposed amendment is approved by the superintendent, the bank shall implement the plan in its current form. (F)(1) If an undercapitalized bank fails to submit a capital restoration plan required under this section within the designated period of time, upon expiration of that period, the superintendent may immediately appoint a conservator for the bank or take any other action authorized under section 1121.32 , 1121.33 , 1121.34 , 1121.35 , 1121.41 , or 1121.46 of the Revised Code or any other law or rule. (2) If an undercapitalized bank fails, in any material respect, to implement a capital restoration plan required under this section, the superintendent may immediately appoint a conservator for the bank or take any other action authorized under section 1121.32 , 1121.33 , 1121.34 , 1121.35 , or 1121.41 of the Revised Code or any other law or rule. (G) Nothing in this section prohibits the superintendent from requiring a state bank to submit a capital restoration plan at any other time the superintendent considers necessary. Last updated September 10, 2024 at 4:53 PM
Ohio Rev. Code § 1181.07 — Ohio Revised Code / Title 11 / Chapter 1181 / § 1181.07
§ 1181.07. Office facilities for superintendent
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly The state shall furnish the superintendent of financial institutions suitable facilities for conducting the business of the superintendent's office at the seat of government and in any other location within the state where it is necessary to keep a resident examiner.
Ohio Rev. Code § 1111.31 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.31
§ 1111.31. Ceasing trust business
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) A trust company licensed under this chapter may cease doing trust business and voluntarily surrender its license to solicit or 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 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 trust company's board of directors reflecting the board's decision 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 trust company's plan for winding up its trust business in this state. (C) The superintendent may approve or deny the 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 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 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 trust company is not safely or expeditiously implementing the approved plan for winding up the trust company's trust business in this state, the superintendent may do either of the following: (1) Begin revocation proceedings under section 1111.32 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 1111.32 of the Revised Code. (F) The superintendent shall cancel the trust company's license to do trust business in this state if the superintendent has approved the trust company's plan for winding up its trust business in this state and all of the following conditions that apply to the trust company have been met: (1) The 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 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) If the trust company has its principal place of business in this state, the trust company has, in accordance with the law, wound up its trust business in each of the other jurisdictions in which the trust company solicited appointment or served as a fiduciary or engaged in trust business. (4) If the trust company has its principal place of business in this state and is authorized to engage in no other business than trust business, the trust company is being liquidated in accordance with Chapter 1125. of the Revised Code. (G) Upon the superintendent's canceling the trust company's license to do trust business in this state, the company shall no longer, without obtaining a license from the superintendent, do either of the following: (1) Solicit or engage in trust business in this state; (2) If the trust company has its principal place of business in this state, solicit or engage in trust business in any jurisdiction.
Ohio Rev. Code § 1114.12 — Ohio Revised Code / Title 11 / Chapter 1114 / § 1114.12
§ 1114.12. Notice of meetings
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Whenever members of a mutual state bank are required or authorized to elect directors or to take any other action at a meeting, either annual or special, notice of the meeting shall be given in either of the following ways: (1) By publication, once each week on the same day of the week for three consecutive weeks immediately preceding the date of the meeting in a newspaper published in and of general circulation in the county in which the principal office of the bank is located, of a notice containing the name of the bank and the purpose, place, date, and hour of the meeting; (2) By notice served upon or mailed to members as provided in section 1701.41 of the Revised Code. (B) The notice required under division (A) of this section shall include a statement that, if a member granted a proxy to the officers and directors of the bank, the proxy is revocable at any time before the meeting or by attending the meeting and voting in person.
Ohio Rev. Code § 1109.53 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.53
§ 1109.53. Transactions with affiliates definitions
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly For purposes of this section and sections 1109.54 , 1109.55 , and 1109.56 of the Revised Code: (A)(1) "Affiliate" means any of the following: (a) A company that controls the state bank and any other company controlled by the company that controls the state bank; (b) A bank subsidiary of the state bank; (c) A company that is controlled directly or indirectly, by a trust or otherwise, by or for the benefit of shareholders who beneficially or otherwise control, directly or indirectly, by trust or otherwise, the state bank or any company that controls the state bank; (d) A company in which a majority of the directors or trustees constitute a majority of the directors or trustees of the state bank or any company that controls the state bank; (e) A company, including a real estate investment trust, that is sponsored and advised on a contractual basis by the state bank or a subsidiary of the state bank; (f) An investment company to which the state bank or one of its affiliates is an investment advisor as defined in section 2(a)(20) of the "Investment Company Act of 1940," 54 Stat. 789, 15 U.S.C. 80a-2(a)(20), as amended; (g) A company the superintendent of financial institutions determines by rule or order to have a relationship with the state bank or one of its subsidiaries or affiliates such that covered transactions by the state bank or its subsidiary with that company may be affected by the relationship to the detriment of the state bank or its subsidiary. (2) "Affiliate" does not include any of the following: (a) A company, other than a bank, that is a subsidiary of a state bank, unless a determination is made under division (A)(1)(g) of this section not to exclude the subsidiary company from the definition of affiliate; (b) A company engaged solely in holding the premises of the state bank; (c) A company engaged solely in conducting a safe-deposit business; (d) A company engaged solely in holding obligations of the United States or its agencies or instrumentalities or obligations fully guaranteed as to principal and interest by the United States or its agencies or instrumentalities; (e) A company where control results from the exercise of rights arising out of a bona fide debt previously contracted, but only for a period of two years from the date the rights are exercised, subject to extensions granted by the superintendent of not more than one year at a time nor three years in the aggregate. (B) "Aggregate covered transactions" means the amount of the covered transactions about to be engaged in added to the current amount of all outstanding covered transactions. (C) "Company" means a corporation, limited liability company, partnership, business, trust, association, or similar organization and, unless specifically excluded by this section or section 1109.54 , 1109.55 , or 1109.56 of the Revised Code, a bank. (D)(1) "Covered transaction" means, with respect to an affiliate of a state bank, any of the following: (a) A loan or extension of credit to the affiliate; (b) A purchase of or an investment in securities issued by the affiliate; (c) A purchase of assets, including assets subject to an agreement to repurchase, from the affiliate, except the purchase of real or personal property as specifically exempted by the superintendent by rule or order; (d) The acceptance of securities issued by the affiliate as collateral security for a loan or extension of credit to any person or company; (e) The issuance of a guarantee, acceptance, or letter of credit, including an endorsement or standby letter of credit to any person or company. (2) "Covered transaction" does not include any of the following: (a) A transaction with another bank if either of the following apply: (i) One of the banks controls eighty per cent or more of the voting shares of the other bank. (ii) The same company controls eighty per cent or more of the voting shares of both banks. (b) Making deposits in an affiliated bank or affiliated foreign bank in the ordinary course of correspondent business, subject to any restrictions the superintendent may prescribe by rule or order; (c) Giving immediate credit to an affiliate for uncollected items received in the ordinary course of business; (d) Making a loan or extension of credit to, or issuing a guarantee, acceptance, or letter of credit on behalf of, an affiliate that is fully secured by one of the following: (i) Obligations of the United States or its agencies or instrumentalities; (ii) Obligations fully guaranteed as to principal and interest by the United States or its agencies or instrumentalities; (iii) A segregated, earmarked deposit account with the state bank. (e) Purchasing securities issued by a company engaged solely in one or more of the following activities: (i) Holding or operating properties used or to be used wholly or substantially by any bank subsidiary of a company that controls the state bank in the operations of the bank subsidiary; (ii) Conducting a safe-deposit business; (iii) Furnishing services to or performing services for a company that controls the state bank or its subsidiaries; (iv) Liquidating assets acquired from a company that controls the state bank or its banking subsidiaries. (f) Purchasing assets having a readily identifiable and publicly available market quotation and purchased at that market quotation or purchasing loans on a nonrecourse basis from affiliated banks; (g) Purchasing from an affiliate a loan or extension of credit that was originated by the state bank and sold to the affiliate subject to a repurchase agreement or with recourse. (E) "Low quality asset" means an asset that is one or more of the following: (1) An asset classified as "substandard," "doubtful," or "loss," or treated as "other loans especially mentioned" in the most recent report of examination or inspection of an affiliate prepared by any of the federal deposit insurance corporation, the federal reserve, the office of the comptroller of the currency, the division of financial institutions, or the financial institution regulators of other states of the United States; (2) An asset in a nonaccrual status; (3) An asset on which principal or interest payments are more than thirty days past due; (4) An asset whose terms have been renegotiated or compromised due to the deteriorating financial condition of the obligor. (F) "Securities" means, except as provided in section 1109.55 of the Revised Code, stocks, bonds, debentures, notes, or other similar obligations. (G) "Subsidiary" means, with respect to a specified company, a company that is controlled by the specified company. (H)(1) Subject to division (H)(2) of this section, a company or shareholder is deemed to have control over another company, if any of the following apply: (a) The company or shareholder, directly or indirectly, or acting through one or more other persons, owns, controls, or has the power to vote twenty-five per cent or more of any class of voting securities of the other company. (b) The company or shareholder controls in any manner the election of a majority of the directors or trustees of the other company. (c) The superintendent determines, after notice and opportunity for a hearing, the company or shareholder, directly or indirectly, exercises a controlling influence over the management or policies of the other company. (2) No company shall be found to own or control another company by virtue of the ownership or control of securities in a fiduciary capacity, except either as provided in divisions (A)(1)(c) and (d) of this section or if the company owning or controlling the securities is a business trust. (I) Any transaction by a state bank with any person shall be considered a transaction with an affiliate to the extent the proceeds of the transaction are used for the benefit of, or transferred to, an affiliate.
Ohio Rev. Code § 1112.04 — Ohio Revised Code / Title 11 / Chapter 1112 / § 1112.04
§ 1112.04. Powers of family trust company
Status: in_force

September 14, 2016 House Bill 229 - 131st General Assembly (A)¿A family trust company may do any of the following for the benefit of family clients only: (1)¿Act as a fiduciary, including as a personal representative, within and outside this state; (2)¿Act within and outside this state as advisory agent, agent, assignee, assignee for the benefit of creditors, attorney in fact, authenticating agent, bailee, bond or indenture trustee, conservator, conversion agent, curator, custodian, escrow agent, exchange agent, fiscal or paying agent, financial adviser, investment adviser, investment manager, managing agent, purchase agent, receiver, registrar, safekeeping agent, subscription agent, transfer agent except for public business entities, warrant agent, or in any similar capacity generally performed by corporate trustees and, in so acting, possess, purchase, sell, invest, reinvest, safe keep, or otherwise manage or administer the real or personal property of other persons; (3)¿Exercise the powers of a corporation or limited liability company organized under the laws of this state and any incidental powers to enable it to fully exercise any power authorized under this chapter. (B)¿¿A family trust company shall not do any of the following: (1)¿Except as otherwise provided in division (A)(10) of section 1112.05 of the Revised Code, receive money or its equivalent from any individual or entity for deposit, make loans of any nature to any individual or entity, or otherwise conduct a general banking business; (2)¿Engage in trust business with, or advertise its services to, the public; (3)¿Use "trust" or any direct derivative of that word as any part of its name, unless it is a licensed family trust company. Last updated July 22, 2021 at 9:39 AM
Ohio Rev. Code § 1111.32 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.32
§ 1111.32. Revoking or suspending license
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) If the superintendent of financial institutions 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, the superintendent may revoke a trust company's license to do trust business in this state: (1) The existence of the 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 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 trust company had been licensed to engage in trust business. (3) A receiver, liquidator, or conservator has been appointed for the trust company under the laws of the state or country in which the trust company is incorporated or for its business in any other jurisdiction in which the trust company transacts business. (4) The trust company is violating or 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 by the superintendent in writing in connection with approving an application or notice or granting any other request of the trust company; (c) A written agreement the 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 trust company is engaging or has engaged, or the superintendent has reasonable cause to believe is about to engage, in any unsafe or unsound practice. (6) The 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 trust company has ceased or failed to conduct trust business in this state. (8) The 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 trust company serves as a fiduciary or the property in this state that the trust company holds title to or an interest in as a fiduciary, the superintendent may immediately suspend the trust company's license to do trust business in this state. (2) Within ten days after the order suspending a trust company's license to do trust business in this state is served upon it, the trust company may apply to the court of common pleas of any county in this state in which the 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 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 § 1121.30 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.30
§ 1121.30. Banks fund
Status: in_force

September 30, 2021 House Bill 110 - 134th General Assembly (A) All assessments, fees, charges, and forfeitures provided for in Chapters 1101. to 1127. and sections 1315.01 to 1315.18 of the Revised Code, except civil penalties assessed pursuant to section 1121.35 or 1315.152 of the Revised Code, shall be paid to the superintendent of financial institutions, and the superintendent shall deposit them into the state treasury to the credit of the banks fund, which is hereby created. (B) The superintendent may expend or obligate the banks fund to defray the costs of the division of financial institutions in administering Chapters 1101. to 1127. and sections 1315.01 to 1315.18 of the Revised Code. The superintendent shall pay from the fund all actual and necessary expenses incurred by the superintendent, including for any services rendered by the department of commerce for the division's administration of Chapters 1101. to 1127. and sections 1315.01 to 1315.18 of the Revised Code. The fund shall be assessed a proportionate share of the administrative costs of the department and the division of financial institutions. The proportionate share of the administration costs of the division of financial institutions shall be determined in accordance with procedures prescribed by the superintendent. The amount assessed for the fund's proportional share of the department's administrative costs and the division's administrative costs shall be paid from the banks fund to the division of administration fund and the division of financial institutions fund respectively. (C) Any money deposited into the state treasury to the credit of the banks fund, but not expended or encumbered by the superintendent to defray the costs of administering Chapters 1101. to 1127. and sections 1315.01 to 1315.18 of the Revised Code, shall remain in the banks fund for expenditures by the superintendent in subsequent years and shall not be used for any purpose other than as set forth in this section. Last updated July 15, 2021 at 1:30 PM
Ohio Rev. Code § 1112.01 — Ohio Revised Code / Title 11 / Chapter 1112 / § 1112.01
§ 1112.01. Definitions
Status: in_force

September 14, 2016 House Bill 229 - 131st General Assembly As used in this chapter: (A) "Affiliate" means any individual or entity controlling, controlled by, or under common control with a family trust company. (B) "Business entity" means a partnership, corporation, limited liability company, or other entity. (C) "Control" means the power to direct or cause the direction of the management and policies of a business entity, whether through ownership of voting securities, by contract, or otherwise. (D)(1) With respect to a licensed family trust company or a family trust company applying for a license under this chapter, "designated relative" means the common ancestor of the family, whether living or deceased, who is designated in the application for a license. (2)With respect to any other family trust company, "designated relative" means the common ancestor of the family, whether living or deceased, who is designated in a written document by the family trust company, which document is maintained with the permanent records of the family trust company. (3) Once designated, a "designated relative" may not be changed. (E) "Family affiliate" means a business entity controlled by family members or affiliates. (F)(1) "Family client" means all of the following: (a) Any family member; (b) Any former family member; (c) Any key employee; (d) Any former key employee provided that, upon the end of the individual's employment by the family trust company, the individual does not receive investment advice from the family trust company, or invest additional assets with a family trust company-advised trust, foundation, or entity, other than with respect to assets advised directly or indirectly by the family trust company immediately prior to the end of the individual's employment. Nothing in division (F)(1)(d) of this section shall be considered to preclude a former key employee from being a family client if the employee received investment advice from the family trust company with respect to additional investments that the individual was contractually obligated to make, and that relate to a family trust company-advised investment existing, prior to the end of the individual's employment by the family trust company. (e) Any nonprofit organization, charitable foundation, charitable trust, including a charitable lead trust and charitable remainder trust whose only current beneficiaries are other family clients and charitable or nonprofit organizations, or other charitable organization, so long as all of the contributions to the organization, foundation, or trust came exclusively from one or more other family clients; (f) Any estate of a family member, former family member, key employee, or former key employee; (g) Any irrevocable trust in which one or more other family clients are the only current beneficiaries; (h) Any irrevocable trust funded exclusively by one or more other family clients in which other family clients and nonprofit organizations, charitable foundations, charitable trusts, or other charitable organizations are the only current beneficiaries; (i) Any revocable trust of which one or more other family clients are the sole grantors; (j) Any trust to which both of the following conditions apply: (i) Each trustee or other person authorized to make decisions with respect to the trust is a key employee. (ii) Each settlor or other person who has contributed assets to the trust is a key employee or the key employee's current or former spouse or spousal equivalent who, at the time of the contribution, holds a joint, community property, or other similar shared ownership interest with the key employee. (k) Any business entity wholly owned, either directly or indirectly, exclusively by and operated for the sole benefit of one or more other family clients. (2) With respect to licensed family trust companies only, "family client" also means a family affiliate and any shareholder, partner, member, director, officer, or employee of a family affiliate who is an individual described in division (F)(1) of this section. (G)(1) "Family member" means all of the following, provided that the designated relative is not more than ten generations removed from the youngest generation of family members: (a) All lineal descendants, including adopted children, stepchildren, foster children, and individuals who were a minor when another family member became a legal guardian of the individual, of the designated relative; (b) Such lineal descendants' spouses or spousal equivalents. (2) With respect to licensed family trust companies only, "family member" also means all of the following: (a) An ancestor or sibling of a spouse or spousal equivalent described in division (G)(1) of this section; (b) Any individual who is a beneficiary of a will or trust established by an individual described in division (G)(1) of this section, provided that, at any given time, the number of individuals qualifying as family members under division (G)(2)(b) of this section does not exceed twenty-five. (H) "Family trust company" means a corporation or limited liability company organized under the laws of this state that meets all of the following requirements: (1) It is organized to serve only family clients. (2) It is wholly owned by family clients and is exclusively controlled, either directly or indirectly, by one or more family members or family entities. For purposes of division (H)(2) of this section, "family entity" means any of the trusts, estates, or other entities described in division (F)(1)(e), (f), (g), (h), (i), or (k) of this section, except for key employees and their trusts. (3) It acts as a fiduciary. (4) It does not transact trust business with, propose to act as a fiduciary for, or accept trust business from, a person that is not a family client. (I) "Former family member" means a spouse, spousal equivalent, or stepchild who was a family member but is no longer a family member due to a divorce or other similar event. (J) "Key employee" means all of the following: (1) Any natural person who is an executive officer, director, trustee, or general partner of, or a person serving in a similar capacity to, the family trust company. For purposes of division (J)(1) of this section, "executive officer" means the president, any vice-president in charge of a principal business unit, division, or function such as administration or finance, any other officer who performs a policymaking function, or any other person who performs a similar policymaking function. (2) The spouse or spousal equivalent of a person described in division (J)(1) of this section, if the spouse or spousal equivalent holds a joint, community property, or other similar shared ownership interest with that person; (3) Any employee of the family trust company, other than an employee performing solely clerical, secretarial, or administrative functions or duties, who participates in the investment activities of the family trust company, provided that the employee has been participating in those investment activities for or on behalf of the family trust company, or has been performing similar functions or duties for or on behalf of another business entity, for at least one year. (K) "Licensed family trust company" means a family trust company licensed under this chapter. (L) "Spousal equivalent" means a cohabitant occupying a relationship generally equivalent to that of a spouse. (M) "Trust business" has the same meaning as in section 1111.01 of the Revised Code. Last updated June 16, 2025 at 2:23 PM
Ohio Rev. Code § 1125.04 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.04
§ 1125.04. Superintendent's consent to voluntary liquidation
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) If the superintendent of financial institutions consents to a voluntary liquidation, the superintendent shall cause a certified copy of the consent to be filed in the office of the secretary of state, and the state bank to be liquidated shall do both of the following: (1) Publish a notice of the voluntary liquidation once a week for four consecutive weeks in a newspaper of general circulation in the county in which the bank's principal place of business is located; (2) Give written notice of the voluntary liquidation, either personally or by mail, to all known creditors of and all known claimants against the bank. (B) Compliance with the notice and publication requirements of division (A) of this section satisfies any duplicate or similar notice and publication requirements of Chapter 1701. of the Revised Code.
Ohio Rev. Code § 1181.06 — Ohio Revised Code / Title 11 / Chapter 1181 / § 1181.06
§ 1181.06. Financial institutions fund
Status: in_force

September 30, 2021 House Bill 110 - 134th General Assembly There is hereby created in the state treasury the financial institutions fund. The fund shall receive assessments on the banks fund established under section 1121.30 of the Revised Code, the credit unions fund established under section 1733.321 of the Revised Code, and the consumer finance fund established under section 1321.21 of the Revised Code in accordance with procedures prescribed by the superintendent of financial institutions. Such assessments shall be in addition to any assessments on these funds required under division (G) of section 121.08 of the Revised Code. All operating expenses of the division of financial institutions shall be paid from the financial institutions fund. Money in the fund shall be used only for that purpose. Last updated July 15, 2021 at 1:30 PM
Ohio Rev. Code § 1109.47 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.47
§ 1109.47. Limiting investing in one issuer
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Except as provided in division (B) of this section, a state bank shall not invest more than fifteen per cent of its capital in the shares, obligations, or other securities of any one issuer. (B) Division (A) of this section does not apply to any of the following: (1) Bonds or other obligations enumerated in divisions (A)(1) to (6) of section 1109.32 of the Revised Code; (2) Investment in a bank subsidiary corporation engaged solely in the business of holding title to real estate described in division (A) of section 1109.31 of the Revised Code; (3) Obligations or securities, other than stock, of the federal national mortgage association, the student loan marketing association, the government national mortgage association, or the federal home loan mortgage corporation, or their successors; (4) Common and preferred stock, obligations, and other securities of one domestic reinsurance company with the written permission of the superintendent of financial institutions as required by division (B) of section 1109.34 of the Revised Code; (5) Shares, obligations, securities, or other interests of any other issuer with the written approval of the superintendent. (C) For purposes of this section, no purchase by a state bank of stock in a federal reserve bank or federal home loan bank is an investment. (D) If a state or political subdivision of a state issues securities, acting solely as a conduit for the transmission of the proceeds of the sale of the securities to one or more private entities for economic development purposes and to be repaid solely by the private entity or entities that received the proceeds of the sale of the securities, then both of the following apply for purposes of determining the amount a state bank may invest in accordance with division (A) of this section: (1) The securities are obligations of the private entity or entities in proportion to their receipt of the proceeds. (2) The securities are not obligations of the issuing state or political subdivision.
Ohio Rev. Code § 1105.08 — Ohio Revised Code / Title 11 / Chapter 1105 / § 1105.08
§ 1105.08. Board and committee meetings
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A)(1) A state bank's board of directors shall meet monthly unless the bank's code of regulations provides for a different frequency of meetings, which shall not be less than quarterly. (2) Division (A)(1) of this section does not prohibit either of the following: (a) A state bank's board of directors meeting more frequently than required by division (A)(1) of this section or the bank's code of regulations; (b) The superintendent of financial institutions requiring a state bank's board of directors to meet more frequently than required by division (A)(1) of this section or the bank's code of regulations if the superintendent determines more frequent meetings are appropriate because of circumstances regarding the bank. (B) Unless prohibited by the articles of incorporation, the code of regulations, or, in the case of a committee of the board of directors, an order of the board of directors, meetings of the board of directors or a committee of the board of directors may be held in any manner permitted by the laws of this state, including by communications equipment, if all persons participating can communicate with each of the others. Participation in a meeting in accordance with this division constitutes presence at the meeting. (C) Minutes shall be kept of all meetings of a state bank's board of directors and of any committees of the board of directors, and shall be recorded in a readable and reproducible form and kept at the bank. The minutes shall show the action of the board of directors or any committee of the board of directors on loans, discounts, and investments made or authorized. The minutes of all committees of the board of directors shall be submitted to the board of directors for review at each meeting of the board of directors.
Ohio Rev. Code § 1119.10 — Ohio Revised Code / Title 11 / Chapter 1119 / § 1119.10
§ 1119.10. Complying with asset maintenance requirement
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) Subject to conditions and requirements the superintendent of financial institutions may prescribe, to be licensed to operate an agency or branch in this state, a foreign bank shall maintain assets in this state of the kinds and in the amount prescribed by the superintendent as necessary or desirable for the maintenance of a sound financial condition and for the protection of depositors, creditors, and the public interest. (B) In determining compliance with the asset maintenance requirement of division (A) of this section, the superintendent shall include all of the following: (1) Assets the foreign bank has pledged as required by section 1119.09 of the Revised Code; (2) Reserves the foreign bank is required to maintain with the federal reserve with respect to the foreign bank's agencies and branches in this state; (3) Assets pledged and surety bonds payable to the federal deposit insurance corporation with respect to the foreign bank's agencies and branches in this state.
Ohio Rev. Code § 1109.07 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.07
§ 1109.07. Deposits payable to survivor - deposits payable on death
Status: in_force

August 29, 2000 House Bill 313 - 123rd General Assembly (A) When a deposit is made in the name of two or more persons, payable to either or the survivor, the bank may pay all of the deposit, any part of the deposit, or any interest earned on the deposit, to either of the named persons, or the guardian of the estate of either of the named persons, whether or not the other person is living. The receipt or acquittance of the person paid is a sufficient release and discharge of the bank for any payments made from the account to that person. (B) A bank may enter into a written contract with a natural person for the proceeds of the person's deposits to be payable on the death of that person to another person or to any entity or organization in accordance with the terms, restrictions, and limitations set forth in sections 2131.10 and 2131.11 of the Revised Code.
Ohio Rev. Code § 1121.35 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.35
§ 1121.35. Civil penalty
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) The superintendent of financial institutions may assess civil penalties against a bank, trust company, or, in relation to matters concerning a state bank, foreign bank, or trust company, a regulated person for each day a violation, unsafe or unsound practice, or breach continues as follows: (1) The superintendent may assess a civil penalty of not more than five thousand dollars per day if the bank, trust company, or regulated person violates any of the following: (a) Any law or rule; (b) Any order issued pursuant to any of section 1121.32 , 1121.33 , 1121.34 , or 1121.41 of the Revised Code; (c) Any condition imposed in writing by the superintendent in connection with granting any 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; (d) A written agreement between the bank, trust company, or regulated person and the superintendent. (2) The superintendent may assess a civil penalty of not more than twenty-five thousand dollars per day if both of the following apply: (a) The bank, trust company, or regulated person does any of the following: (i) Commits any violation listed in division (A)(1) of this section; (ii) Recklessly engages in an unsafe or unsound practice; (iii) Breaches any fiduciary duty. (b) The violation, unsafe or unsound practice, or breach is any of the following: (i) Part of a pattern of misconduct; (ii) Causes or is likely to cause more than a minimal loss to the bank or trust company; (iii) Results in pecuniary gain or other benefit to the regulated person. (3) The superintendent may assess a civil penalty of not more than one hundred thousand dollars per day or, in the case of a bank or trust company, the lesser of one per cent of the assets of the bank or trust company or one hundred thousand dollars per day if both of the following apply: (a) The bank, trust company, or regulated person knowingly does any of the following: (i) Commits any violation listed in division (A)(1) of this section; (ii) Engages in an unsafe or unsound practice; (iii) Breaches any fiduciary duty. (b) By reason of the violation, unsafe or unsound practice, or breach, the bank, trust company, or regulated person knowingly or recklessly causes either: (i) Substantial loss to the bank or trust company; (ii) Substantial pecuniary benefit to the regulated person. (B) The notice of assessment of a civil penalty shall include all of the following: (1) A statement of the violation or violations or unsafe or unsound practice or practices or breach or breaches alleged; (2) A statement of the facts supporting the assessment of the civil penalty; (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 civil penalty should be assessed 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 of assessment of a civil penalty; (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, 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 civil penalty should be assessed against the bank, trust company, or regulated person, 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 assessment of the civil penalty. (C) The superintendent may assess a civil penalty if either of the following applies: (1) The bank, trust company, or regulated person consents to the assessment of the civil penalty; (2) Upon the record of the hearing the superintendent finds a violation, unsafe or unsound practice, or breach has been established. (D) In determining the amount of the civil penalty to be assessed, the superintendent shall consider all of the following: (1) The seriousness of and the risk posed by the violation, unsafe or unsound practice, or breach; (2) The bank's, trust company's, or regulated person's good faith efforts to prevent the violation, unsafe or unsound practice, or breach; (3) The bank's, trust company's, or regulated person's history regarding violations, unsafe or unsound practices, and breaches; (4) The bank's, trust company's, or regulated person's financial resources; (5) Any other matters justice may require. (E) A regulated person is personally liable for the payment of any civil penalty the regulated person is assessed pursuant to this section. No bank or trust company of which a regulated person is a director, officer, employee, or controlling shareholder, or in the conduct of the affairs of which the regulated person participated, shall pay or cause to be paid on behalf of the regulated person, or indemnify or otherwise reimburse the regulated person for paying, any civil penalty assessed against the regulated person. (F) Any bank, trust company, or regulated person assessed a civil penalty pursuant to this section shall pay the civil penalty to the superintendent, and the superintendent shall deposit any civil penalty paid into the state treasury to the credit of the general revenue fund.
Ohio Rev. Code § 1116.20 — Ohio Revised Code / Title 11 / Chapter 1116 / § 1116.20
§ 1116.20. Subsidiary holding company; issuance of securities
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A mutual holding company may establish a subsidiary holding company as a direct subsidiary to hold one hundred per cent of the stock of its subsidiary stock state bank, provided the subsidiary holding company is not formed and operated as a means of evading or frustrating the purposes of this chapter. Subject to the approval of the superintendent of financial institutions, the subsidiary holding company may be established either at the time of the initial mutual holding company reorganization or at a subsequent date. (B) In addition to its powers under Chapters 1107. and 1109. of the Revised Code, any subsidiary stock state bank or subsidiary holding company may, with the prior approval of the superintendent and subject to such rules as the superintendent may prescribe, issue one or more classes of securities, including one or more classes of common stock or preferred stock, and take any action in connection with such issuance or otherwise with respect to any such securities; provided, however, that in no event shall the mutual holding company hold less than twenty-five per cent of the combined voting power of all classes of securities of the subsidiary stock holding company or stock state bank that have voting power in the election of directors of such stock state bank. (C) Nothing in this section shall prohibit a subsidiary stock state bank or subsidiary stock holding company from issuing, in connection with an employee stock option or other employee benefit plan or with the mutual holding company reorganization or subsequent thereto, different classes of common stock to the mutual holding company and subsidiary stock state bank or subsidiary stock holding company. An issuance of securities may be made at the time of the mutual holding company reorganization or thereafter, and may be made in connection with the merger or acquisition of another bank whether organized in mutual or stock form.
Ohio Rev. Code § 1125.10 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.10
§ 1125.10. Appointment of conservator
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) If it appears to the superintendent of financial institutions that any one or more of the conditions set forth in section 1125.09 of the Revised Code exists as to any state bank, the superintendent may appoint a conservator, which appointment may include the superintendent, and thereafter may dismiss or replace the conservator as the superintendent determines necessary or advisable. The superintendent may fix the compensation to be paid the conservator and the amount of the bond or other security, if any, to be required. (B) The superintendent may, from time to time, appoint one or more special deputy superintendents as agent or agents to assist in the duties of conservatorship. (C) The superintendent, any special deputy superintendents, or a conservator may employ and procure whatever assistance or advice is necessary in the conservatorship of the bank, and, for that purpose, may retain officers or employees of the bank as needed. (D) The superintendent may terminate the conservatorship at any time, and may appoint a receiver for liquidation of the bank on any of the grounds provided in this chapter for appointment of a receiver. (E) All expenses of a conservatorship shall be paid out of the assets of the bank, and shall be a lien on the bank's assets, which lien shall be prior to any other lien.
Ohio Rev. Code § 1111.15 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.15
§ 1111.15. Purchase of services or products
Status: in_force

January 1, 2007 House Bill 416 - 126th General Assembly (A) A trust company acting in any fiduciary capacity, including, but not limited to, the capacities described in section 1111.11 of the Revised Code, may purchase any service or product, including, but not limited to, insurance or securities underwritten or otherwise distributed by the trust company or by an affiliate, through or directly from the trust company or an affiliate or from a syndicate or selling group that includes the trust company or an affiliate, provided that the purchase is otherwise prudent under the Ohio Uniform Prudent Investor Act and the compensation for the service or product is reasonable and is not prohibited by the instrument governing the fiduciary relationship. The compensation for the service or product may be in addition to the compensation that the trust company is otherwise entitled to receive from the fiduciary account. (B) A trust company shall disclose at least annually any purchase authorized by this section that was made by the trust company during that reporting period. The disclosure shall be given, in writing or electronically, to all persons entitled to receive statements of account activity, and shall include any capacities in which the trust company or an affiliate acts for the issuer of the securities or the provider of the products or services and the fact that the trust company or an affiliate may have an interest in the products or services. (C) This section shall apply to the purchase of securities made at the time of the initial offering of the securities or at any time thereafter.
Ohio Rev. Code § 1125.30 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.30
§ 1125.30. Receiver may destroy records
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly Subject to the approval of the court, the receiver may destroy the records of the state bank in accordance with section 1109.69 of the Revised Code after the receiver determines there is no further need for them. However, the receiver shall not destroy the records earlier than six months after the date the bank is declared dissolved by the court.
Ohio Rev. Code § 1121.39 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.39
§ 1121.39. Notice served within 6 years of resignation, termination or separation
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly The resignation, termination of employment or participation, or separation of a regulated person, including a separation caused by the closing of a bank or trust company, shall not affect the jurisdiction and authority of the superintendent of financial institutions to issue any notice and proceed against the regulated person under section 1121.32 , 1121.33 , 1121.34 , or 1121.35 of the Revised Code, if the notice is served in accordance with section 1121.37 of the Revised Code within six years after the date of the regulated person's resignation, termination, or separation from the bank or trust company.
Ohio Rev. Code § 1109.68 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.68
§ 1109.68. Using copying or reproduction processes
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) A bank may, for any business purpose, retain a document, paper, or other instrument or record by use of a process to record, copy, photograph, or store a representation of the original document, paper, or other instrument or record, if all of the following apply: (1) The process correctly and accurately copies or reproduces, or provides a means for correctly and accurately copying or reproducing, the original document, paper, or other instrument or record with regard to both its substance and appearance, except the copy or reproduction need not reflect the original paper or other medium, size, or color, unless the medium, size, or color is necessary to establish the authenticity of the original. (2) The process does not permit the recording, copy, photographic image, or stored representation of the original document, paper, or other instrument or record to be altered or manipulated. (3) Any medium the process uses to record, copy, photograph, or store a representation of the original document, paper, or other instrument or record is a durable medium for retaining and reproducing records. (B) The superintendent of financial institutions shall identify and publish a list of processes that satisfy the conditions of division (A) of this section. (C) Each bank that uses a process authorized by this section to preserve any of its records shall also provide for safekeeping and for examining, viewing, or projecting the records preserved, and for producing reproductions of the original records. (D) Recordings, copies, photographic images, or stored representations of original documents, papers, or other instruments or records made in accordance with this section, or reproductions of original documents, papers, or other instruments or records produced from recordings, copies, photographic images, or stored representations made in accordance with this section, when properly identified by the officer by whom or under whose supervision they were made or who has custody of them, have the same effect at law as the original records or records made by any other legally authorized means. They may be offered in the same manner and shall be received in evidence in any court where the original records, or records made by other legally authorized means, could have been introduced and received. Certified or authenticated duplicates of recordings, copies, photographic images, or stored representations of original documents, papers, or other instruments or records made in accordance with this section, or of reproductions of original documents, papers, or other instruments or records produced from recordings, copies, photographic images, or stored representations made in accordance with this section, shall be admitted in evidence in the same manner as the original documents, papers, or other instruments or records.
Ohio Rev. Code § 1125.26 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.26
§ 1125.26. Subrogation rights of federal deposit insurance corporation
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly Whenever the federal deposit insurance corporation pays or makes available for payment the insured deposit liabilities of a state bank, the federal deposit insurance corporation, whether or not it acts as receiver, shall be subrogated to the extent of the payments to all rights of depositors against the bank.
Ohio Rev. Code § 1125.25 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.25
§ 1125.25. Election to reject or ratify and assign executory contract
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Within one hundred days after the date of the closing of a state bank, a receiver may reject any executory contract to which the bank is a party without any further liability on the part of the bank or the receiver. The receiver's election to reject an executory contract creates no claim for compensation other than compensation accrued to the date of termination or for actual damages. (B) A receiver may ratify and assign any executory contract to which the bank is a party notwithstanding the existence of a provision in the contract permitting the termination of the executory contract, or prohibiting, conditioning, or requiring consent to any assignment of the executory contract, upon the insolvency of the bank or the appointment of a receiver.
Ohio Rev. Code § 1109.36 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.36
§ 1109.36. Underwriting and dealing in guaranteed and acceptable debt securities
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly To the extent permitted by and subject to any limitations and restrictions the superintendent of financial institutions may impose, a state bank may underwrite and deal in investments in the form of bonds, notes, debentures, or other debt securities that are any of the following: (A) The direct obligation of or guaranteed by the United States; (B) The direct obligation of or guaranteed by any state of the United States or any political subdivision of any state of the United States; (C) Acceptable to the superintendent.
Ohio Rev. Code § 1121.18 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.18
§ 1121.18. Confidentiality
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) The superintendent of financial institutions and the superintendent's agents and employees shall keep privileged and confidential all information obtained by the superintendent or the superintendent's agents or employees as a result of or arising out of the examination or supervision of a bank or any examination conducted pursuant to the authority of section 1121.10 or 1121.11 of the Revised Code, from required reports, or because of their official position. No person, including any person to whom the information is disclosed under the authority of this section, shall disclose the information, except as specifically provided in this section. (B) The superintendent of financial institutions and the superintendent's agents and employees may disclose the information described in division (A) of this section only as follows: (1) To the governor, director of commerce, or deputy director of commerce to enable them to act in the interests of the public; (2) To the banking commission to enable the commission to effectively advise the superintendent and take action on any matter the superintendent presents to the commission; (3) To financial institution regulatory authorities of this and other states, the United States, and other countries to assist them in their regulatory duties; (4) To the directors, executive officers, agents, and parent company of the bank or other person examined to assist them in conducting the business of the bank or other person examined in a safe and sound manner and in compliance with law; (5) To auditors, attorneys, or similar professionals retained by the bank or trust company to assist in conducting the business of the bank or trust company, or other person examined, in a safe and sound manner and in compliance with the law; (6) To law enforcement authorities in connection with criminal investigations or referrals made by the superintendent; (7) To other state and federal agencies or, in the case of a state bank, to the federal home loan bank to which the bank belongs, as the superintendent determines necessary and appropriate, but only under such conditions and limitations as the superintendent, in the superintendent's sole discretion, may require. (C)(1) The information described in division (A) of this section shall not be discoverable from any source, and shall not be introduced into evidence, except in the following circumstances: (a) In connection with criminal proceedings; (b) When, in the opinion of the superintendent, it is appropriate with regard to enforcement actions taken and decisions made by the superintendent under the authority of Chapters 1101. to 1127. of the Revised Code regarding a bank, trust company, or other person; (c) When litigation, penalties, or an enforcement action has been initiated by the superintendent in furtherance of the powers, duties, and obligations imposed upon the superintendent by Chapters 1101. to 1127. of the Revised Code; (d) When authorized by agreements between the superintendent and financial institution regulatory authorities of this and other states, the United States, and other countries authorized by section 1121.11 of the Revised Code; (e) When and in the manner authorized in section 1181.25 of the Revised Code. (2) The discovery of information pursuant to division (C)(1)(b), (c), or (d) of this section shall be limited to information that directly relates to the bank, trust company, regulated person, or other person who is the subject of the enforcement action, decision, penalties, or litigation. (D) A report of an examination conducted pursuant to section 1121.10 or 1121.11 of the Revised Code is the property of the division of financial institutions. Under no circumstances may the bank or other person examined, its directors, officers, employees, agents, regulated persons, or contractors, or any person having knowledge or possession of a report of examination, or any of its contents, disclose or make public in any manner the report of examination or its contents. The authority provided in division (B)(4) of this section for use of examination information to assist in conducting the business of the bank or other person examined in a safe and sound manner and in compliance with law shall not be construed to authorize disclosure of a report of examination or any of its contents in conducting business with the examined bank's or person's customers, creditors, shareholders, or members, or with other persons. (E) The superintendent may, in accordance with Chapter 119. of the Revised Code, adopt rules to permit a bank, trust company, or other person to disclose the information described in division (A) of this section in limited circumstances other than those specified in this section. (F) Whoever violates this section shall be removed from office, shall be liable, with the violator's bonder in damages to the person injured by the disclosure of information, and is guilty of a felony of the fourth degree.
Ohio Rev. Code § 1115.14 — Ohio Revised Code / Title 11 / Chapter 1115 / § 1115.14
§ 1115.14. Transferring assets and liabilities
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A state bank may transfer assets and liabilities to, and acquire assets and liabilities from, another state bank, a bank doing business under authority granted by the bank regulatory authority of another state, or a national bank, savings bank, or 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) If the assets to be transferred equal more than fifty per cent of the assets of a transferring or acquiring state bank at the time of the transfer and the institution is a stock state bank, the shareholders of the 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 state bank's articles of incorporation or code of regulations provide, of the outstanding shares of each class of the state bank's stock; (b) If the assets to be transferred equal more than fifty per cent of the assets of a transferring or acquiring state bank at the time of the transfer and the institution is a mutual state bank, the members of the 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, the articles of incorporation, or the code of regulations; (4) If the assets to be transferred equal more than fifty per cent of the assets of the acquiring state bank, the superintendent of financial institutions. (B) In the case of a transfer of assets and liabilities for which the superintendent's approval is required under division (A)(4) of this section, the acquiring state bank shall file with the superintendent an application that includes all of the following: (1) An officers' certification that the transaction has been approved by the directors and shareholders or members of each constituent corporation in accordance with the applicable state or federal law, articles of incorporation or association, code of regulations, or bylaws; (2) A copy of the transfer agreement; (3) Any other information the superintendent requires. (C) The transfer agreement required under division (B)(2) of this section shall include all of the following: (1) The names of the constituent corporations; (2) The agreement of the named constituent corporations that specified assets and liabilities of one will be transferred to the other in exchange for specified consideration; (3) Any changes to be made in the directors or officers of the acquiring state bank; (4) Any amendments to the acquiring state bank's articles of incorporation; (5) The terms of the transfer, how the transfer will be effected, and how any consideration provided for will be distributed to the transferring corporation or its shareholders or members. (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 that granted the 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 acquiring bank; (2) Whether the effect of the proposed transaction in any part of this state and any markets served by the acquiring bank may be to substantially lessen competition, tend to create a monopoly, or in any other manner restrain trade, unless the superintendent finds that 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 acquiring 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) In the case of a transfer of assets and liabilities involving a state bank that is not the acquiring corporation and that will not continue operations after the transaction, the state bank shall, immediately upon the transfer of assets and liabilities being effective, provide the superintendent with the necessary dissolution certificates and affidavits for the superintendent to file the dissolution with the secretary of state. (G) When a bank, savings bank, or savings association transfers its assets and liabilities to a state bank, the acquiring state bank shall be possessed of the rights, privileges, and powers of the transferor with respect to the transferred assets within the limits of the charter of the acquiring state bank. (H) Shareholders of a stock state bank whose assets have been transferred 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 § 1119.08 — Ohio Revised Code / Title 11 / Chapter 1119 / § 1119.08
§ 1119.08. Applying for preliminary approval of agency or branch
Status: in_force

October 9, 2021 House Bill 263 - 133rd General Assembly (A)(1) For each agency or branch 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 agency or branch. The superintendent shall determine whether to 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 agency or branch 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 a safe and sound manner, and is in compliance with applicable laws, regulations, and orders; (f) Whether it is reasonable to believe the foreign bank will operate the agency or branch in a safe and sound manner, and 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 agency or branch if the following have occurred: (1) The superintendent has approved the foreign bank's application for preliminary approval to operate the agency or branch 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. (4) The foreign bank has pledged assets as required under section 1119.09 of the Revised Code and maintains assets in this state as required by section 1119.10 of the Revised Code. Last updated October 9, 2021 at 5:19 AM
Ohio Rev. Code § 1111.09 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.09
§ 1111.09. Trust service offices
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A)(1) A trust service office is any location established by a trust company as a place for either of the following: (a) Persons seeking the services of the trust company, or information about those services, to contact representatives of the trust company regarding the trust company's business. (b) The trust company's representatives to contact the trust company's customers, or potential customers, and their representatives. (2) None of the following is a trust service office: (a) Any location where a trust company conducts its operations but does not provide facilities for contact with its customers or contact by the public with the trust company; (b) Any location that is the home or place of work or business or used for the convenience of the trust company's customer, potential customer, or a representative of a customer or potential customer where the trust company's representative's contact with its customer, potential customer, or a representative of a customer or potential customer is merely incidental to the purposes for which the location is maintained and to the activities conducted there; (c) Any location where another person, including a financial institution, conducts its business and persons inquiring about trust services are merely referred to a trust company, even if referrals to a particular trust company are by exclusive arrangement and compensated. (B) A trust company may, consistent with the trust company's safe and sound operation and the law, establish and maintain trust service offices at any location, including the following: (1) If clearly identified and distinguished, at a location where another person, including a financial institution, also conducts business; (2) If the trust company is a bank, savings and loan association, or savings bank, at any of its approved banking offices or main office or branches. (C)(1) A trust company shall give notice in writing to the superintendent of financial institutions prior to establishing, relocating, or closing a trust service office in this state. (2) A trust company that is a state bank also shall give notice in writing to the superintendent prior to establishing, relocating, or closing a trust service office outside this state.
Ohio Rev. Code § 1125.01 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.01
§ 1125.01. Jurisdiction of court
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) As used in this chapter, "court" means the court of common pleas of the county in which the principal place of business of a state bank, as set forth in its articles of incorporation, is located or of any other county determined by the superintendent of financial institutions to be appropriate under the circumstances. (B) The court shall have exclusive original jurisdiction of any action or proceeding relating to or arising out of the taking of possession of the property and business of a state bank under this chapter, whether before or after the bank is wound up and dissolved, as well as any action or other proceeding brought under this chapter. (C) Whenever the approval of the court is required for any act under this chapter, that approval may be given with or without a hearing held upon whatever notice, if any, the court may direct, unless otherwise provided in this chapter. At a hearing, the court, by order, may approve the actions petitioned.
Ohio Rev. Code § 1109.22 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.22
§ 1109.22. Total loans and extensions of credit to person outstanding at any one time
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) As used in this section: (1) "Derivative transaction" includes any transaction that is a contract, agreement, swap, warrant, note, or option that is based, in whole or in part, on the value of, any interest in, or any quantitative measure or the occurrence of any event relating to, one or more commodities, securities, currencies, interest or other rates, indices, or other assets. (2) "Loans and extensions of credit" shall include all of the following: (a) All direct or indirect advances of funds made on the basis of any obligation of a person to repay the funds or repayable from specific property pledged by or on behalf of the person; (b) To the extent specified by the superintendent of financial institutions, any liability of a bank to advance funds to or on behalf of a person pursuant to a contractual commitment; (c) Any credit exposure to a person arising from a derivative transaction between the person and a bank. (3) "Person" includes an individual; sole proprietorship; partnership; joint venture; association; trust; estate; business trust; corporation; government; agency, instrumentality, or political subdivision of a government; limited liability company; or any similar entity or organization. (B) Except as provided in divisions (C), (D), (E), and (F) of this section: (1) The total loans and extensions of credit by a state bank to a person outstanding at any one time and not fully secured, as determined in a manner consistent with division (B)(2) of this section, by collateral having a market value at least equal to the amount of the loans and extensions of credit to that person that are outstanding shall not exceed fifteen per cent of the unimpaired capital of the bank. (2) The total loans and extensions of credit by a state bank to a person outstanding at one time and fully secured by readily marketable collateral having a market value, as determined by reliable and continuously available price quotations, at least equal to the amount of the loans and extensions of credit to that person that are outstanding shall not exceed ten per cent of the unimpaired capital of the bank. (3) The limitation set forth in division (B)(2) of this section is separate from and in addition to the limitation set forth in division (B)(1) of this section. (4) Notwithstanding the limitations set forth in divisions (B)(1) and (2) of this section, any state bank may grant one or more loans in an aggregate amount of up to five hundred thousand dollars to one person, subject to any applicable restrictions under federal law. (C) No limitation based on capital applies to loans and extensions of credit by a bank to a person that are any of the following types: (1) Loans or extensions of credit arising from the discount of commercial or business paper evidencing an obligation to the person negotiating it with recourse; (2) The purchase of bankers' acceptances of the kinds described in division (B) or (C) of section 1109.17 of the Revised Code and issued by other banks; (3) Loans or extensions of credit secured by bonds, notes, certificates of indebtedness, treasury bills of the United States, or other obligations fully guaranteed as to principal and interest by the United States; (4) Loans or extensions of credit to or secured by unconditional takeout commitments or guarantees of any department, agency, bureau, board, commission, or establishment of the United States or any corporation wholly owned, directly or indirectly, by the United States; (5) Loans or extensions of credit secured by a segregated deposit account in the lending bank; (6) Loans or extensions of credit to any financial institution or to any receiver, conservator, superintendent of financial institutions, or other agent in charge of the business and property of a financial institution, when the loans or extensions of credit are approved by the superintendent of financial institutions of this state; (7) Loans or extensions of credit to the student loan marketing association. (D) A state bank may make loans and extensions of credit secured by bills of lading, warehouse receipts, or similar documents transferring or securing title to readily marketable staples subject to the general limitations of division (B) of this section, and may make additional loans and extensions of credit secured by bills of lading, warehouse receipts, or similar documents transferring or securing title to readily marketable staples, if all of the following apply: (1) The market value of the staples securing each additional loan or extension of credit at all times equals or exceeds one hundred fifteen per cent of the outstanding amount of the loan or extension of credit. (2) The staples are fully covered by insurance whenever it is customary to insure staples of that kind. (3) The total amount of the bank's additional loans and extensions of credit outstanding to one person at any time does not exceed thirty-five per cent of the bank's capital. (E) Subject to divisions (E)(1) and (2) of this section, a state bank may make loans and extensions of credit arising from the discount of negotiable or nonnegotiable installment consumer paper. (1) If the paper carries a full recourse endorsement or unconditional guarantee by the person transferring the paper, the total amount of the installment consumer paper transferred by one person a state bank may hold at one time shall not exceed twenty-five per cent of the bank's capital, and the collateral requirements of division (B)(2) of this section do not apply. (2) The limitations set forth in division (B) of this section apply only to the loans and extensions of credit of each maker of negotiable or nonnegotiable installment consumer paper, and not to obligations arising from any full or partial recourse endorsement or guarantee by the transferor discounting the consumer paper to the state bank, if both of the following apply: (a) The state bank's files are, or the knowledge of its officers of the financial condition of each maker of the consumer paper is, reasonably adequate. (b) An officer of the state bank designated for that purpose by the bank's board of directors certifies in writing that the bank is relying primarily upon the responsibility of each maker for payment of the loans or extensions of credit and not upon any full or partial recourse endorsement or guarantee by the transferor. (F) Without regard to the collateral requirements of division (B) of this section, a state bank may have loans and extensions of credit to one person outstanding at one time not exceeding twenty-five per cent of the bank's capital of the following types: (1) Loans and extensions of credit secured by shipping documents or instruments transferring or securing title covering livestock or giving a lien on livestock, when the market value of the livestock securing the obligation is not at any time less than one hundred fifteen per cent of the face amount of the note covered; (2) Loans and extensions of credit that arise from the discount by dealers in dairy cattle of paper given in payment for dairy cattle, if the paper carries a full recourse endorsement or unconditional guarantee of the seller, and the loans and extensions of credit are secured by the cattle being sold. (G)(1) The superintendent may adopt rules to administer and carry out the purposes of this section, including, but not limited to, the following: (a) Rules defining or further defining terms used in this section, including expanding or limiting the definition of "person" defined in division (A) of this section; (b) Rules establishing limits or requirements other than those specified in this section for particular classes or categories of loans or extensions of credit; (c) Rules relating to credit exposure arising from derivative transactions. (2) The superintendent may determine when a loan putatively made to a person is, for purposes of this section, to be attributed to another person.
Ohio Rev. Code § 1121.21 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.21
§ 1121.21. Reporting condition and income
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly Each bank and trust company shall report its condition and income to the division of financial institutions at the times, in the form, and including the information the superintendent of financial institutions prescribes.
Ohio Rev. Code § 1111.03 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.03
§ 1111.03. Authority of national bank or federal savings association
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Notwithstanding any other provision of the Revised Code, any national bank or federal savings association that has been granted fiduciary powers by the office of the comptroller of the currency may act in this state as trustee, executor, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, or in any other fiduciary capacity in which trust companies qualified and licensed under section 1111.06 of the Revised Code are authorized to act in this state. For such purpose, a national bank or federal savings association shall have the same powers and rights, including but not limited to, the same right to make and accept transfers of fiduciary appointments, as are granted by the laws of this state to trust companies qualified and licensed under section 1111.06 of the Revised Code, and may solicit trust business, accept trust deposits, and maintain nonbranch trust offices in this state. A national bank or federal savings association shall not, by virtue of conducting such trust activity in this state, be subject to examination or inspection by the superintendent of financial institutions, nor shall it be required to obtain any approval, authorization, licenses, or certification from, or pay any fee or assessment to, the superintendent in order to conduct trust activities in this state. (B) Notwithstanding the provisions of division (A) of this section, section 1111.04 , division (B) of section 1111.07 , and section 1111.08 of the Revised Code shall apply to national banks and federal savings associations.
Ohio Rev. Code § 1111.33 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.33
§ 1111.33. Liquidating assets
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) If the superintendent of financial institutions revokes a 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 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 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 trust company's trust business in this state under division (A) of this section and the liquidation of the 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 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 trust company's trust business in another state of the United States or for conducting a liquidation of all or part of the 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 trust company's trust business. If there is no liquidation of the 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 trust company's trust business in this state to the trust company. (2) When the receiver has completed the liquidation of the trust company's trust business in this state, the receiver shall, with notice to the superintendent, petition the court for an order declaring the 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 trust company's trust business in this state has been properly wound up and shall not declare the 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 trust company's trust business in this state is properly wound up, both of the following shall occur: (a) The trust company shall, except for any further winding up, cease soliciting or engaging in trust business in this state and, if the trust company has its principal place of business in this state, cease soliciting or 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 trust company is a bank doing business under authority granted by the superintendent, all of the following apply: (1) If the 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 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 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. Disclaimer Contact About
Ohio Rev. Code § 1113.08 — Ohio Revised Code / Title 11 / Chapter 1113 / § 1113.08
§ 1113.08. Certificate of authority to commence business
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A stock state bank organized under Chapter 1113. of the Revised Code shall not accept deposits, incur indebtedness, or transact any business except business that is incidental to its organization or to the obtaining of subscriptions to or payment for its shares until the bank receives a certificate of authority to commence business issued by the superintendent of financial institutions. (B) The bank shall file a report with the superintendent when it has done everything required before it can be authorized to commence business and when the subscriptions for the bank's shares have been fully paid in, in the amounts fixed by the superintendent. (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 requirements necessary to entitle it to engage in business.
Ohio Rev. Code § 1117.03 — Ohio Revised Code / Title 11 / Chapter 1117 / § 1117.03
§ 1117.03. Banking office schedules
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) A bank may propose to operate a banking office on a less than full-time basis, whether it be regular, intermittent, or occasional. (B) If a proposed banking office is to be operated by use of a mobile facility, it may do business at more than one identified location. (C) A bank that establishes a banking office shall notify the superintendent of financial institutions prior to doing either of the following: (1) Changing the banking office's schedule of operation from part-time to full-time or full-time to part-time; (2) If the banking office is operated by use of a mobile facility, adding or eliminating any location at which the banking office transacts business within the banking office's service area or changing the banking office's schedule of operation.
Ohio Rev. Code § 1112.23 — Ohio Revised Code / Title 11 / Chapter 1112 / § 1112.23
§ 1112.23. Confidentiality
Status: in_force

September 14, 2016 House Bill 229 - 131st General Assembly (A) Except as provided in division (D) of this section, the superintendent of financial institutions, the superintendent's agents, and employees shall keep privileged and confidential all of the following information: (1) Application information and other information obtained from a family trust company, including the names and addresses of the directors and officers, the names and addresses of the stockholders, family members, or other owners, capital contributions, and business affiliations; (2) Information required to be reported to, or filed with, the superintendent of financial institutions under this chapter, including the affidavit described in division (A)(1) of section 1112.03 of the Revised Code; (3)¿Information leading to, arising from, or obtained in the course of an examination or investigation conducted under the authority of this chapter; (4) Information relating to a family trust company that qualifies as nonpublic personal information under 15 U.S.C. 6809 and the regulations adopted thereunder; (5)¿Information or agreements relating to any merger, consolidation, or transfer; (6) Any other private information relating to a family trust company. (B) Any person who receives privileged and confidential information as described in division (A) of this section is subject to the requirements of this section. No person, knowing the information is privileged and confidential, shall purposely divulge the information in any manner. (C) Neither the superintendent, nor any agent or employee of the superintendent, shall purposely make, or cause to be made, any false statements or reports regarding the affairs or condition of a family trust company. (D) The information described in division (A) of this section shall remain confidential and not discoverable from any source, and shall not be introduced into evidence, except in the following circumstances: (1) When it is necessary for the superintendent to take official action regarding the affairs of a family trust company; (2) To assist another state or a federal agency investigating activities regulated under this chapter; (3) When obtained by a law enforcement officer pursuant to a subpoena, court order, search warrant, or other lawful means. (E) The discovery of information pursuant to division (D) of this section shall be limited to information that directly relates to the family trust company that is the subject of the enforcement action or litigation. Last updated July 22, 2021 at 9:38 AM
Ohio Rev. Code § 1119.11 — Ohio Revised Code / Title 11 / Chapter 1119 / § 1119.11
§ 1119.11. Permitted activities
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) When a foreign bank engages in an activity or undertakes an action through an agency or branch licensed under this chapter, the foreign bank is subject to the same limitations on and requirements of engaging in the activity or taking the action that apply to a state bank. (B)(1) A foreign bank licensed to operate an agency shall not accept deposits from citizens or residents of the United States or exercise fiduciary powers. An account that carries a credit balance in connection with the distribution of loan proceeds is not a deposit for purposes of this section. (2) A foreign bank licensed to operate an agency may, in addition to conducting all of the permissible activities of a representative office set forth in division (B) of section 1119.06 of the Revised Code, conduct limited banking activities at or through a licensed agency, including all of the following: (a) Lending money; (b) Maintaining credit balances that are incidental to or arise out of the distribution of loan proceeds; (c) Receiving funds as agent to be forwarded for deposit to an existing account at another office authorized to accept deposits. (C) A foreign bank licensed to operate a branch may, in addition to conducting all of the permissible activities of a representative office set forth in division (B) of section 1119.06 of the Revised Code and all of the permissible activities of an agency set forth in division (B)(2) of this section, conduct the following activities at or through a licensed branch: (1) Accepting deposits, the acceptance of which does not constitute engaging in domestic retail deposit activities; (2) If qualified under Chapter 1111. of the Revised Code, exercising fiduciary powers; (3) Other activities authorized for state banks. (D) Each foreign bank licensed to operate an agency or branch shall, in the manner the superintendent of financial institutions prescribes, give notice to the agency's or branch's customers that deposits with that agency or branch are not insured by the federal deposit insurance corporation or otherwise.
Ohio Rev. Code § 1112.13 — Ohio Revised Code / Title 11 / Chapter 1112 / § 1112.13
§ 1112.13. Fidelity bonds; liability insurance
Status: in_force

September 14, 2016 House Bill 229 - 131st General Assembly (A)¿Each licensed family trust company shall obtain and maintain all of the following: (1) Fidelity bonds in such amounts as it considers advisable, but not less than an aggregate amount of one million dollars, on any active officer, manager, family member acting in a managerial capacity, or employee, whether or not such persons receive a salary or other compensation from the family trust company, to indemnify it against loss because of any dishonest, fraudulent, or criminal act or omission by any of the persons bonded, acting alone or in combination with any other person. The bonds may be in any form and may be paid for by the family trust company. (2) Directors and officers liability insurance coverage in the amount of at least one million dollars. (B)¿A licensed family trust company may also procure property and casualty insurance of a nature and with such coverage amounts as it considers advisable. Last updated July 22, 2021 at 9:37 AM
Ohio Rev. Code § 1121.05 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.05
§ 1121.05. Granting rights to financial institutions
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Notwithstanding any provisions of the Revised Code, except as provided in division (E) of this section, the superintendent of financial institutions shall, by rule, grant state banks and trust companies doing business under authority granted by the superintendent any right, power, privilege, or benefit possessed, by virtue of statute, rule, regulation, interpretation, or judicial decision, by any of the following: (1) Banks and trust companies doing business under authority granted by the office of the comptroller of the currency or the bank regulatory authority of any other state of the United States; (2) Savings associations doing business under authority granted by the office of the comptroller of the currency or the savings and loan association regulatory authority of any other state of the United States; (3) Savings banks doing business under authority granted by the savings bank regulatory authority of any other state of the United States; (4) Credit unions doing business under authority granted by the superintendent of financial institutions, the national credit union administration, or the credit union regulatory authority of any other state of the United States; (5) Any other banks, savings associations, or credit unions with a principal place of business in the United States doing business under authority granted under laws of the United States; (6) Any other persons engaging in the business of banking, offering financial products and services, soliciting or accepting deposits, lending money, or buying or selling bullion, bills of exchange, notes, bonds, stocks, or other evidences of indebtedness whether through an office or other place of business in this state or via the internet, advertising, or other form of solicitation; (7) Small business investment companies licensed under the "Small Business Investment Company Act of 1958," 72 Stat. 689, 15 U.S.C. 661, as amended; (8) Persons chartered under the "Farm Credit Act of 1933," 48 Stat. 257, 12 U.S.C. 1131(d), as amended. (B) The superintendent shall adopt rules authorized by division (A) of this section in accordance with section 111.15 of the Revised Code. (C) A rule adopted by the superintendent pursuant to the authority of this section becomes effective on the later of the following dates: (1) The date the superintendent issues the rule; (2) The date the statute, rule, regulation, interpretation, or judicial decision the superintendent's rule is based on becomes effective. (D)(1) The superintendent may, upon thirty days' written notice, revoke any rule adopted under the authority of this section. A rule adopted under the authority of this section, and not revoked by the superintendent, enacted into law, or adopted in accordance with Chapter 119. of the Revised Code, lapses and has no further force and effect thirty months after its effective date; however, the superintendent may adopt the rule under section 111.15 of the Revised Code pursuant to this section for an additional thirty-month period. (2) The superintendent may require a state bank or trust company that has acted in reliance on a rule adopted and later revoked or lapsed under the authority of this section to bring its affected activities in compliance with the law. Unless the activities will or may result in harm to the bank or trust company as determined by the superintendent, the bank or trust company shall be granted a reasonable period of time of not less than one year nor more than two years from the date the rule is revoked or lapsed, to bring its affected activities in compliance with the law. The superintendent may, upon the written request of a state bank or trust company, grant the bank or trust company a longer period of time in which to bring its affected activities in compliance with the law. (E) The superintendent shall not adopt any rule dealing with interest rates charged under the authority of this section.
Ohio Rev. Code § 1115.07 — Ohio Revised Code / Title 11 / Chapter 1115 / § 1115.07
§ 1115.07. Report of outstanding credit
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) As used in this section: (1) "Credit outstanding" means any loan, extension of credit, issuance of a guarantee, acceptance, or letter of credit, including an endorsement or standby letter of credit, or other transaction that extends financing to a person or group of persons. (2) "Financial institution" means a state bank, national bank, savings bank, savings association, or a bank doing business under authority granted by the bank regulatory authority of another state of the United States or another country. (3) "Group of persons" includes any number of persons the financial institution reasonably believes are either of the following: (a) Persons who are acting together, in concert, or with one another to acquire or control shares of the same stock state bank, including an acquisition of shares of the same stock state bank at approximately the same time under substantially the same terms. (b) Persons who have made, or have proposed to make, a joint filing under section 13 of Title I of the "Securities Exchange Act of 1934," 48 Stat. 881, 15 U.S.C.A. 78m, as amended, regarding ownership of the shares of the same stock state bank. (B)(1) Except as provided in division (D) of this section, any financial institution or any affiliate of a financial institution that has credit outstanding to any person or group of persons that is secured, directly or indirectly, by shares of a stock state bank shall file a consolidated report with the superintendent of financial institutions if the credits outstanding are, in the aggregate, secured, directly or indirectly, by twenty-five per cent or more of the outstanding shares of any class of the same stock state bank. (2) For purposes of division (B)(1) of this section, any shares of the stock state bank held by the financial institution or any of its affiliates as principal shall be included in the calculation of the number of shares in which the financial institution or its affiliates has a security interest. (C) The report required under division (B)(1) of this section shall be a consolidated report on behalf of the financial institution and all its affiliates, and shall be filed in writing within thirty days after the date on which the financial institution or any of its affiliates first believes the security for any outstanding credit consists of twenty-five per cent or more of the outstanding shares of any class of a stock state bank. The report shall indicate the number and percentage of shares securing each credit outstanding, the identity of the borrower, and the number of shares held as principal by the financial institution or any of its affiliates. It also shall contain all of the information required in a notice under section 1115.06 of the Revised Code, and any other relevant information the superintendent may require by rule or by specific request in connection with a particular report. (D) A financial institution and its affiliates shall not be required to report a transaction under this section if either of the following applies: (1) The person or group of persons to whom the credit is outstanding has disclosed to the superintendent the amount borrowed from the financial institution or its affiliate and the security interest of the financial institution or its affiliate in connection with a notice given under section 1115.06 of the Revised Code or with any other application filed with the superintendent, such as an application for an interim bank charter. (2) The transaction involves either of the following: (a) A person or group of persons that has been the owner of record of the shares for at least one year; (b) Shares issued by a newly chartered stock state bank before the bank's opening.
Ohio Rev. Code § 1111.05 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.05
§ 1111.05. Individual, schedule, or blanket fidelity bonds for employees and officers
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly Prior to soliciting or engaging in trust business in this state, and at all times while engaging in trust business in this state, a trust company shall have all of the following: (A) Individual, schedule, or blanket fidelity bonds in favor of the trust company covering each of the trust company's employees and officers in an amount reasonable for the size and nature of the trust company's business; (B) Capital, in combination with other financial support such as insurance in favor of the trust company against errors and omissions by any of the trust company's employees and officers, adequate for the size and nature of the trust company's business; (C) Management and personnel adequate in number and qualifications for the size and nature of the trust company's business.
Ohio Rev. Code § 1113.13 — Ohio Revised Code / Title 11 / Chapter 1113 / § 1113.13
§ 1113.13. Amendments to bank's articles of incorporation
Status: in_force

October 24, 2024 Senate Bill 94 - 135th General Assembly (A) After subscriptions to shares have been received by the incorporators, the board of directors of a stock state bank may, subject to the requirements of this section, adopt amendments to the bank's articles of incorporation to do any of the following: (1) Authorize the shares necessary to meet conversion or option rights when all of the following apply: (a) The bank has issued shares of one class convertible into shares of another class or obligations convertible into shares of the bank, or has granted options to purchase shares. (b) The conversion or option rights are set forth in the articles of incorporation or have been approved by the same vote of shareholders as, at the time of the approval, would have been required to amend the articles of incorporation to authorize the shares required for that purpose. (c) The bank does not have sufficient authorized and unissued shares available to satisfy the conversion or option rights. (2) Reduce the authorized number of shares of a class by the number of shares of that class that have been redeemed, or have been surrendered to or acquired by the bank upon conversion, exchange, purchase, or otherwise, or to eliminate from the articles of incorporation all references to the shares of a class, and to make any other change required, when all of the authorized shares of that class have been redeemed, or surrendered to or acquired by the bank; (3) Reduce the authorized number of shares of a class by the number of shares of that class that were canceled for not being issued or reissued and for not being fully paid in within one year after the date they were authorized or otherwise became authorized and unissued shares; (4) For any purpose authorized by section 1701.70 of the Revised Code. (B) The board of directors of a stock state bank may adopt amended articles of incorporation to consolidate the original articles of incorporation and all previously adopted amendments to the articles of incorporation that are in force at the time. (C) 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. (D)(1) If the board of directors 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 of financial institutions a copy of the proposed amendment or amended articles of incorporation for review and approval prior to adoption by the board. (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 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 by division (D)(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. (E)(1) Upon adoption by the board of directors 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 directors' resolution adopting the amendment and a statement of the manner of and basis for its adoption. 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 board of directors 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 directors' resolution adopting the amended articles of incorporation and a statement of the manner of and basis for its adoption. The certificate shall be signed by the bank's authorized representatives in accordance with section 1103.19 of the Revised Code. (F) Upon receiving a certificate required by division (E) of this section, the superintendent shall conduct whatever examination the superintendent considers necessary to determine if the manner of and basis for adoption of the amendment or amended articles of incorporation comply with the requirements of the Revised Code. (G)(1) Within thirty days after receiving a certificate required by division (E) 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 (E) 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 (E) 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. Last updated August 27, 2024 at 2:59 PM
Ohio Rev. Code § 1119.24 — Ohio Revised Code / Title 11 / Chapter 1119 / § 1119.24
§ 1119.24. Priority of Ohio creditors
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly The creditors of a foreign bank's licensed agencies or branches in this state shall be entitled to priority over other creditors of the foreign bank with respect to any claims against the assets of the foreign bank's business in this state.
Ohio Rev. Code § 1105.03 — Ohio Revised Code / Title 11 / Chapter 1105 / § 1105.03
§ 1105.03. Director oath
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) To qualify as a director, each person elected or appointed to the board of directors shall, within sixty days after election or appointment, take and subscribe an oath to diligently and honestly perform the duties of a director and to not knowingly violate or permit to be violated any federal banking law or any provision of Chapters 1101. to 1127. of the Revised Code. (B) Promptly upon execution, and within sixty days of the person's election or appointment, the oath shall be filed with the secretary of the state bank.
Ohio Rev. Code § 1101.16 — Ohio Revised Code / Title 11 / Chapter 1101 / § 1101.16
§ 1101.16. Soliciting, receiving, or accepting money or its equivalent for deposit as a business
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) No person shall solicit, receive, or accept money or its equivalent for deposit as a business in this state, except a state bank, an entity doing business as a bank, savings bank, or savings association under authority granted by the bank regulatory authority of the United States, another state of the United States, or another country, or a credit union as defined in section 1733.01 of the Revised Code that is authorized to accept deposits in this state. (B) No bank having its principal place of business in a foreign country shall solicit, receive, or accept deposits or transact any banking business of any kind in this state, except in accordance with Chapter 1115. or 1119. of the Revised Code.
Ohio Rev. Code § 1115.111 — Ohio Revised Code / Title 11 / Chapter 1115 / § 1115.111
§ 1115.111. Management or consulting fees
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Except as provided in division (C) of this section, no bank shall pay to any person, other than reasonable compensation for services provided in the person's capacity as an employee, any management or consulting fee, including fees for legal, accounting, brokerage, or other similar professional services, not having a direct relationship to the value of actual services rendered, based on reasonable costs consistent with current market values for such services. (B) The records of the bank shall contain adequate information to permit a determination as to what services are being provided and on what basis they are being priced. At a minimum the records shall disclose a thorough review by the board of directors demonstrating all of the following: (1) That such fees are paid for specific services provided, as detailed in a fee analysis presented to the board; (2) The basis for the cost for each function or service; (3) A conclusion by the board of directors that the fees are reasonable. (C) This section does not prevent a bank from paying any of the following: (1) Dividends to shareholders that have been properly declared by the bank; (2) Reasonable compensation to officers and employees of the bank for services rendered to the bank in their capacities as officers or employees of the bank; (3) Fees to directors for their attendance at meetings of the board of directors, the executive committee, or other committees established by the board.
Ohio Rev. Code § 1111.14 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.14
§ 1111.14. Collective investments
Status: in_force

January 1, 2007 House Bill 416 - 126th General Assembly A trust company may do any of the following: (A) Collectively invest assets it holds in any fiduciary capacity in any investment authorized by the superintendent of financial institutions, subject to all of the following conditions that apply: (1) The collective investment is not prohibited by the instrument, judgment, decree, or order creating the fiduciary relationship for any of the following reasons: (a) The investment is being made collectively; (b) The character of some or all of the other fiduciary relationships for which assets are also invested; (c) Any relationship, other than as an investing fiduciary, the trust company or any affiliate of the trust company has to the investment; (d) Any relationship any other person has to the collective investment. (2) The collective investment is a proper investment for the assets. In determining whether the collective investment is a proper investment for the assets, the collective investment shall be considered as a whole, with consideration being given to all assets held in the collective investment, and the inclusion of any asset that would not independently be a proper investment shall not be determinative. (3) If the trust company is not the sole fiduciary of the assets, the trust company has procured the written consent of the cofiduciaries to the investment. Any person serving with a trust company as a cofiduciary of property in this state has the authority to consent to the investment of the property in a collective investment vehicle that either is established or managed by the cofiduciary trust company or an affiliate of the cofiduciary trust company or in which the cofiduciary participates in the formation, ownership, or operation. (B) Establish and maintain one or more collective investment funds, consistent with regulations adopted by the comptroller of the currency and rules adopted by the superintendent, for the collective investment of assets held by the trust company or any of its affiliates in any fiduciary capacity, to which funds both of the following apply: (1) The trust company may charge a reasonable fee for the management of a collective investment fund, provided that the amount of the fee shall not exceed an amount commensurate with the value of legitimate services of tangible benefit to the participant that the participant would not have received if no assets of the participant had been invested in participations in the fund. However, in the case of investments by a collective investment fund in an affiliated investment company, the trust company may charge a fee as provided in division (B)(2) of this section. Any fee received by the trust company may be charged either to the income or principal of the fund or apportioned between them. The trust company may charge a fee for reasonable expenses incurred in the administration of the fund. A trust company shall not charge a fee for expenses incurred in establishing or reorganizing the fund. (2) A collective investment fund may invest in any affiliated investment company, provided that any fee that is paid to the trust company or person owned or controlled by the bank holding company that owns or controls the trust company is a reasonable fee for the services provided. Any such fee may be in addition to compensation that the trust company is otherwise entitled to receive. A collective investment fund that invests in an affiliated investment company shall, when providing any periodic account statements to the trust fund, report the net asset value of the shares comprising the investment of the trust fund in the affiliated investment company. If a collective investment fund invests in an affiliated investment company, the collective investment fund shall disclose, in at least ten-point boldface type, by prospectus, by annual account statement, or by any other written means to all persons entitled to receive statements of account activity, that the affiliated investment company is not insured or guaranteed by the federal deposit insurance corporation or by any other government agency or government-sponsored agency of the federal government or of this state. (C) Participate in the formation, ownership, or operation of one or more fiduciary investment companies established and operated in accordance with rules adopted by the superintendent.
Ohio Rev. Code § 1109.09 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.09
§ 1109.09. Accounts and safe deposit box rentals for minors
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) A bank may do any of the following: (1) Accept deposits made by or on behalf of any minor and open an account however payable in the name of one or more persons, one or more or all of whom are minors, or in the name of another person as trustee for a minor, whether or not the deposit is made or the account is opened by the minor; (2) Enter into an agreement to rent a safe deposit box to a minor; (3) Accept the appointment of a minor as agent or deputy on any deposit or safe deposit box by any person, including a minor, maintaining the deposit or safe deposit box. (B) When a bank enters into a deposit contract or safe deposit box rental agreement with a minor, all of the following apply: (1) The terms and conditions of the deposit contract or safe deposit box rental agreement are binding on the minor the same as a person of legal age who enters into a deposit contract or rents a safe deposit box. (2) The relationship between the bank and the minor regarding the deposit contract or safe deposit box rental agreement is in all respects the same as if the minor were a person of legal age. (3) The bank shall incur no liability for any transaction regarding the deposit or safe deposit box solely because of doing business with a minor.
Ohio Rev. Code § 1113.09 — Ohio Revised Code / Title 11 / Chapter 1113 / § 1113.09
§ 1113.09. Superintendent of financial institutions to issue certificate of authority to commence business
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) The superintendent of financial institutions shall issue a certificate of authority to commence business if: (1) The superintendent is satisfied, based upon the examination conducted pursuant to section 1113.08 of the Revised Code and any other facts within the knowledge of the superintendent, that the stock state bank is otherwise entitled to commence business. (2) With respect to a stock state bank that, upon commencing business, would be authorized to accept deposits other than trust funds, the superintendent has received from the federal deposit insurance corporation (FDIC) confirmation that the FDIC has approved the bank's application to become 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). A stock state bank is not required to become an insured bank as defined in section 3(h) of the "Federal Deposit Insurance Act" if, by the terms of its articles of incorporation, it is not permitted to solicit or accept deposits other than trust funds. (B) The bank shall cause the certificate of authority to commence business to be published once a week for two successive weeks in a newspaper of general circulation in the county where the bank's initial banking office is located. (C) For purposes of this section, "trust funds" means funds held in a fiduciary capacity and includes, but is not limited to, funds held as trustee, executor, administrator, guardian, or agent.
Ohio Rev. Code § 1121.56 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.56
§ 1121.56. Immunity
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly Neither the superintendent of financial institutions, any employee, agent, or contractor of the division of financial institutions, or any supervisor appointed by the superintendent under this chapter is liable in any civil, criminal, or administrative proceeding for any mistake of judgment or discretion in any action taken, or any omission made, in good faith within the scope of the person's official capacity as assigned by the superintendent.
Ohio Rev. Code § 1114.08 — Ohio Revised Code / Title 11 / Chapter 1114 / § 1114.08
§ 1114.08. Members; proxies
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A depositor of a mutual state bank shall be a voting member and shall have such ownership interest in the bank as may be provided in the terms and conditions set forth in the articles of incorporation, code of regulations, and bylaws of the bank. (B) The code of regulations of a mutual state bank may provide that all borrowers from the bank are members and, if so, shall provide for their rights and privileges. (C)(1) Unless otherwise provided in the articles of incorporation or code of regulations, a proxy granted by a depositor to the officers and directors of a mutual state bank shall expire on the date specified in the proxy. If no date is so specified, the authority granted by the proxy shall be perpetual. (2) On and after the effective date of this section , the writing or verifiable communication appointing a proxy shall be separate and distinct from any deposit agreement, loan agreement, or any other agreement, statement, document, or disclosure provided by a mutual state bank to a depositor.
Ohio Rev. Code § 1125.19 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.19
§ 1125.19. Filing certified copy of certificate of appointment
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Upon issuing a written finding that any one or more of the conditions set forth in section 1125.18 of the Revised Code for taking possession of a state bank exists and taking possession of the state bank, the superintendent of financial institutions shall file a certified copy of the finding and the notice of possession with the court. (B) Upon the appointment of a receiver, the superintendent shall file a certified copy of the certificate of appointment in the office of the secretary of state and with the court. (C) After the superintendent files the finding of the superintendent or the certificate of appointment of the receiver, whichever occurs first, no person shall obtain a lien or charge upon any assets of the bank for any payment, advance, clearance, or liability thereafter incurred, nor shall the directors, officers, or agents of the bank have authority to act on behalf of the bank or to convey, transfer, assign, pledge, mortgage, or encumber any assets of the bank. (D) Upon taking possession of the bank, the superintendent shall post or cause to be posted an appropriate notice of closing at the main entrance of each of the bank's banking offices. (E) Neither filing nor posting of notice in accordance with this section shall be a condition to either the superintendent's taking possession of the property and business of a state bank or appointing a receiver for a state bank.
Ohio Rev. Code § 1116.16 — Ohio Revised Code / Title 11 / Chapter 1116 / § 1116.16
§ 1116.16. Conversion of mutual holding companies
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A mutual holding company organized under the laws of another state or the United States may, with the approval of the superintendent of financial institutions, convert to a mutual holding company organized under this chapter by submitting an application in accordance with rules adopted by the superintendent under section 111.15 of the Revised Code. (B) State banks existing as of the effective date of this section that are affiliates of a mutual holding company organized under the laws of another state or the United States and that submit an application pursuant to division (A) of this section within one year after the effective date of this section shall be eligible for an expedited review process.
Ohio Rev. Code § 1115.24 — Ohio Revised Code / Title 11 / Chapter 1115 / § 1115.24
§ 1115.24. Shelf charter
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) As used in this section: (1) "Applicant" means the person or persons seeking a shelf charter under this section. (2) "Control" has the same meaning as in section 1115.06 of the Revised Code and any rules adopted under that section. (3) "Shelf charter" means the preliminary conditional approval of a charter. (B) The superintendent of financial institutions may, at the superintendent's sole discretion, grant a shelf charter to an applicant intending or desiring to enter into a transaction resulting in any of the following: (1) Formation of an interim bank under this chapter to be used for the transactions contemplated by this section; (2) Acquisition of control of a designated or undesignated state bank; (3) Acquisition of control of a designated or undesignated bank chartered by the banking authority of any other state or the United States that the person or persons intend to convert to a state bank; (4) Acquisition of assets from and assumption of liabilities, pursuant to this chapter, of a bank or from the federal deposit insurance corporation as receiver of a designated or undesignated bank headquartered in this state or any other state that the person or persons intend to convert to a state bank; (5) Formation of a de novo bank pursuant to Title XI of the Revised Code. (C) The superintendent shall prescribe the form for an application for a shelf charter. After reviewing an application, the superintendent may require the applicant to submit any additional information or documentation the superintendent considers necessary and appropriate. Factors to be considered by the superintendent shall include all of the following: (1) The availability of adequate capital for the transaction; (2) The existence of acceptable business plans; (3) Whether acceptable management, directors, and control persons are identified; (4) Whether all necessary approvals from state and federal agencies have been secured. (D)(1) A shelf charter granted under this section, and any final approval for a transaction described in division (B) of this section, shall be subject to such conditions and ongoing requirements as the superintendent considers appropriate. (2) An applicant granted a shelf charter under this section shall not exercise control over the bank or consummate the transaction authorized by the charter until the superintendent gives final approval of the transaction. (E) A shelf charter shall expire twenty-four months after the date it is granted, subject to the following: (1) The superintendent may extend the expiration date at any time sua sponte or upon approval by the superintendent of a written request for an extension submitted by the person or persons to whom the shelf charter was granted. (2) The person or persons to whom the shelf charter was granted may withdraw it at any time. (3) The superintendent may modify, suspend, or revoke any shelf charter granted under this section. (F) Pursuant to the authority granted under section 1121.03 of the Revised Code, the superintendent may adopt rules and issue interpretive guidelines the superintendent considers necessary and appropriate for the implementation of this section.
Ohio Rev. Code § 1103.20 — Ohio Revised Code / Title 11 / Chapter 1103 / § 1103.20
§ 1103.20. Filing documents with secretary of state
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) When any provision in Chapters 1101. to 1127. or Chapter 1701. of the Revised Code requires a document regarding an existing, previously existing, or proposed state bank to be filed with the secretary of state, all of the following apply: (1) The person responsible for producing the document shall deliver the document, properly completed, to the superintendent of financial institutions, along with payment for any fee required for filing the document with the secretary of state. (2) The superintendent shall file the document, and any required approval by the superintendent, with the secretary of state. (3) The secretary of state shall send a certified copy of the document to both the superintendent and the state bank or other person on whose behalf the superintendent filed the document. (B) If the person responsible for producing the document to be filed fails to comply with division (A)(1) of this section, the action or transaction to which the document relates is not authorized or effective.
Ohio Rev. Code § 1109.26 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.26
§ 1109.26. Owning or holding real estate or stock acquired in satisfaction of debt
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A)(1) A state bank may own or hold for not more than five years any real estate it acquires 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. The superintendent of financial institutions may, upon application by a state bank, grant the bank the power to hold the real estate for a longer time. (2) The superintendent may, at any time, require a state bank to obtain an independent qualified appraisal of real estate the bank owns or holds in accordance with division (A)(1) of this section. (3) Real estate sold on contract, but with title remaining in the name of the state bank, shall not be considered real estate held by the bank for the purpose of divisions (A)(1) and (2) of this section. (B)(1) A state bank may own or hold for not more than five years shares of companies either acquired in securing satisfaction of a debt previously contracted in good faith or taken on a refinancing plan involving an investment that was legal at the time it was made. The superintendent may, upon application by a state bank, grant the bank the power to hold the shares for a longer time. (2) The superintendent may, at any time, require a state bank to obtain an independent qualified appraisal of the shares the bank owns or holds in accordance with division (B) of this section. (C) The limitations set forth in this section shall not apply to real estate or shares owned or held by a state bank affiliate, except for a company that is a subsidiary of the state bank.
Ohio Rev. Code § 1109.44 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.44
§ 1109.44. Investing in bank subsidiary corporations and bank service corporations
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A state bank may invest, in the aggregate, twenty-five per cent of its assets in the stock, obligations, and other securities of bank subsidiary corporations and bank service corporations. (B) A state bank shall obtain the approval of the superintendent of financial institutions prior to investing in, acquiring, or establishing a bank subsidiary corporation or bank service corporation, or performing any new activities in a bank subsidiary corporation or bank service corporation. (C)(1) A bank subsidiary corporation that is a wholly owned subsidiary of the state bank may engage in any activities, except taking deposits, that are a part or an extension of the business of banking. (2) A bank service corporation shall be owned solely by one or more banks, and may, at any location, do any of the following: (a) Provide clerical, bookkeeping, accounting, statistical, or similar services; (b) Engage in any activities, except taking deposits, that all of its owner banks are authorized to engage in; (c) Engage in any activity, except taking deposits, the board of governors of the federal reserve system has determined to be permissible for a financial holding company under section 4(k)(1) of the "Bank Holding Company Act of 1956," as amended, 70 Stat. 133, 12 U.S.C.A. 1843(k)(1). (D) Bank subsidiary corporations and bank service corporations are subject to examination and regulation by the superintendent. (E) A bank subsidiary corporation or a bank service corporation may invest in a lower-tier bank subsidiary corporation or bank service corporation, subject to the requirements of this section.
Ohio Rev. Code § 1127.11 — Ohio Revised Code / Title 11 / Chapter 1127 / § 1127.11
§ 1127.11. Concealing assets
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly No person shall knowingly do any of the following: (A) Conceal or attempt to conceal an asset or property from a conservator, receiver, or liquidating agent appointed by the superintendent of financial institutions with respect to any asset acquired or liability assumed by the conservator, receiver, or liquidating agent; (B) Impede or attempt to impede the functions of the conservator, receiver, or liquidating agent; (C) Place or attempt to place any asset or property beyond the reach of the conservator, receiver, or liquidating agent.
Ohio Rev. Code § 1115.02 — Ohio Revised Code / Title 11 / Chapter 1115 / § 1115.02
§ 1115.02. Conversion of national or other institution into state stock bank
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly A national bank, a bank doing business under authority granted by the bank regulatory authority of another state, a savings association, a savings bank, or a state or federally chartered credit union may, with the approval of the superintendent of financial institutions, convert into a stock state bank or mutual state bank by submitting an application in accordance with rules adopted by the superintendent for this purpose.
Ohio Rev. Code § 1125.18 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.18
§ 1125.18. Conditions necessary for taking possession of state bank property and business
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly The superintendent of financial institutions may take possession of the property and business of a state bank if the superintendent finds any one or more of the following conditions: (A) The bank is in an unsafe or unsound condition to continue the business of banking. (B) The bank is insolvent, in that it has ceased to pay its debts in the ordinary course of business, it is incapable of paying its debts as they mature, or it has liabilities in excess of its assets. (C) The bank has refused to submit its records or affairs to the inspection or examination of any federal bank regulatory agency or the superintendent. (D) The bank has failed to pay its deposits or obligations in accordance with the terms under which the deposits were taken or the obligations were incurred. (E) A majority of the board of directors of the bank has requested the superintendent to appoint a receiver to take possession of the bank for the benefit of account holders, creditors, shareholders, or members. (F) The bank has violated any order of a court or of the superintendent, any statute, rule, or regulation, or its articles of incorporation, and the superintendent determines the continued control of its own affairs threatens injury to any of the public, the banking industry, or the bank's depositors or other creditors. (G) The bank's status as an insured institution has been terminated by the federal deposit insurance corporation. (H)(1) In the case of a stock state bank, the bank has an impairment of paid-in capital. (2) In the case of a mutual state bank, the bank has an impairment of retained earnings.
Ohio Rev. Code § 1181.10 — Ohio Revised Code / Title 11 / Chapter 1181 / § 1181.10
§ 1181.10. Seal of superintendent
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly The seal of the superintendent of financial institutions shall be surrounded by the words: "The superintendent of financial institutions of the state of Ohio." The seal shall have engraved on it the coat of arms of the state, as described in section 5.04 of the Revised Code, and shall contain the words and devices mentioned in this section and no other.
Ohio Rev. Code § 1181.05 — Ohio Revised Code / Title 11 / Chapter 1181 / § 1181.05
§ 1181.05. Conflicts of interest
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) As used in this section, "consumer finance company" means any person required to be licensed or registered under Chapter 1321., 1322., 4712., 4727., or 4728. or sections 1315.21 to 1315.30 of the Revised Code. (B) Neither the superintendent of financial institutions nor any other employee of the division of financial institutions shall do any of the following: have a business or investment interest, directly or indirectly, in any state bank, trust company, credit union, or consumer finance company that is under the supervision of the superintendent of financial institutions or in any affiliate of any such financial institution or company; directly or indirectly borrow money from any such financial institution or company; serve as a director or officer of or be employed by any such financial institution or company; or own an equity interest in any such financial institution or company or in any of its affiliates. For purposes of this section, an equity interest does not include the ownership of an account in a mutual savings and loan association or in a savings bank that does not have permanent stock or the ownership of a share account in a credit union. (C) Subject to division (G) of this section, an employee of the division of financial institutions may retain any extension of credit that otherwise would be prohibited by division (B) of this section if both of the following apply: (1) The employee obtained the extension of credit prior to October 29, 1995, or the commencement of the employee's employment with the division, or as a result of a change in the employee's marital status, the consummation of a merger, acquisition, transfer of assets, or other change in corporate ownership beyond the employee's control, or the sale of the extension of credit in the secondary market or other business transaction beyond the employee's control. (2) The employee liquidates the extension of credit under its original terms and without renegotiation. If the employee chooses to retain the extension of credit, the employee shall immediately provide written notice of the retention to the employee's supervisor. Thereafter, the employee shall be disqualified from participating in any decision, examination, audit, or other action that may affect that particular creditor. (D) Subject to division (G) of this section, an employee of the division of financial institutions may retain any ownership of or beneficial interest in the securities of a financial institution or consumer finance company that is under the supervision of the division of financial institutions, or of a holding company or subsidiary of such a financial institution or company, which ownership or beneficial interest otherwise would be prohibited by division (B) of this section, if the ownership or beneficial interest is acquired by the employee through inheritance or gift, prior to October 29, 1995, or the commencement of the employee's employment with the division, or as a result of a change in the employee's marital status or the consummation of a merger, acquisition, transfer of assets, or other change in ownership beyond the employee's control. If the employee chooses to retain the ownership or beneficial interest, the employee shall immediately provide written notice of the retention to the employee's supervisor. Thereafter, the employee shall be disqualified from participating in any decision, examination, audit, or other action that may affect the issuer of the securities. However, if the ownership of or beneficial interest in the securities and the subsequent disqualification required by this division impair the employee's ability to perform the employee's duties, the employee may be ordered to divest self of the ownership of or beneficial interest in the securities or to resign. (E) Notwithstanding division (B) of this section, an employee of the division of financial institutions may have an indirect interest in the securities of a financial institution or consumer finance company that is under the supervision of the division of financial institutions, which interest arises through ownership of or beneficial interest in the securities of a publicly held mutual fund or investment trust, if the employee owns or has a beneficial interest in less than five per cent of the securities of the mutual fund or investment trust, and the mutual fund or investment trust is not advised or sponsored by a financial institution or consumer finance company that is under the supervision of the division of financial institutions. If the mutual fund or investment trust is subsequently advised or sponsored by a financial institution or consumer finance company that is under the supervision of the division of financial institutions, the employee shall immediately provide written notice of the ownership of or beneficial interest in the securities to the employee's supervisor. Thereafter, the employee shall be disqualified from participating in any decision, examination, audit, or other action that may affect the financial institution or consumer finance company. However, if the ownership of or beneficial interest in the securities and the subsequent disqualification required by this division impair the employee's ability to perform the employee's duties, the employee may be ordered to divest self of the ownership of or beneficial interest in the securities or to resign. (F)(1) For purposes of this section, the interests of an employee's spouse or dependent child arising through the ownership or control of securities shall be considered the interests of the employee, unless the employee can demonstrate to the satisfaction of the superintendent that the interests are solely the financial interest and responsibility of the spouse or dependent child, the interests are not in any way derived from the income, assets, or activity of the employee, and any financial or economic benefit from the interests is for the personal use of the spouse or dependent child. (2) If an employee's spouse or dependent child obtains interests arising through the ownership or control of securities and, pursuant to division (F)(1) of this section, the interests are not considered the interests of the employee, the employee shall immediately provide written notice of the interests to the employee's supervisor. Thereafter, the employee shall be disqualified from participating in any decision, examination, audit, or other action that may affect the issuer of the securities. (G) For purposes of divisions (C) and (D) of this section, both of the following apply: (1) With respect to any employee of the former division of consumer finance who, on the first day of the first pay period commencing after September 26, 1996, becomes an employee of the division of financial institutions, the employee's employment with the division of financial institutions is deemed to commence on the first day of the first pay period commencing after September 26, 1996. (2) With respect to any employee who, on October 29, 1995, became an employee of the division of financial institutions, the employee may, notwithstanding divisions (C) and (D) of this section, retain any extension of credit by a consumer finance company that was obtained at any time prior to the first day of the first pay period commencing after September 26, 1996, or retain any ownership of or beneficial interest in the securities of a consumer finance company, or of a holding company or subsidiary of such a company, that was acquired at any time prior to the first day of the first pay period commencing after September 26, 1996. If the employee chooses to retain the extension of credit or the ownership or beneficial interest, the employee shall comply with divisions (C) and (D) of this section.
Ohio Rev. Code § 1121.47 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.47
§ 1121.47. Superintendent - order and subpoena powers
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) The superintendent of financial institutions may do both of the following: (1) Summon and compel, by order or subpoena, witnesses to appear before the superintendent, deputy superintendent, examiner, attorney, or such other person designated by the superintendent and testify under oath regarding the affairs of a bank or trust company or, in relation to matters concerning a state bank, foreign bank, or trust company, a regulated person; (2) Compel, by order or subpoena, the production of any record, book, paper, document, item, or other thing pertaining to a bank or trust company or, in relation to matters concerning a state bank, foreign bank, or trust company, a regulated person. (B) The superintendent shall serve an order or subpoena issued pursuant to division (A) of this section in any manner provided by section 1121.37 of the Revised Code. (C) If a person fails to comply with an order or subpoena of the superintendent or refuses to testify to any matter regarding which the person is lawfully interrogated before the division of financial institutions, on application of the superintendent, the court of common pleas of the county in which the person resides or in which the principal place of business of the person is located, or a judge of the court, shall compel compliance by attachment proceedings as for contempt in the case of noncompliance with a subpoena issued from the court or refusal to testify in the court. Failure of a regulated person to comply fully with an order or subpoena issued under the authority of this section shall be grounds for removing the regulated person from office, prohibiting the regulated person from participating directly or indirectly in the affairs of a bank or trust company, or imposing civil penalties against the regulated person.
Ohio Rev. Code § 1109.63 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.63
§ 1109.63. Coin and bullion
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly A state bank may buy, sell, and exchange coin and bullion.
Ohio Rev. Code § 1121.33 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.33
§ 1121.33. Notice of charges and intent to remove regulated person from office or prohibit further participation
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) The superintendent of financial institutions may issue and serve a notice of charges and intent to remove a regulated person from office or prohibit a regulated person from further participation in the conduct of the affairs of a bank or trust company, or both, if, in the opinion of the superintendent, all of the following apply: (1) The regulated person has, directly or indirectly, done any of the following: (a) Violated any of the following: (i) A law or rule; (ii) A final cease and desist order; (iii) 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 a bank, trust company, or regulated person; (iv) A written agreement between a bank or trust company and the superintendent, or between the regulated person and the superintendent. (b) Engaged or participated in an unsafe or unsound practice in connection with a bank, trust company, or other business institution; (c) Committed or engaged in an act, omission, or practice constituting a breach of the regulated person's fiduciary duty as a regulated person. (2) The violation, practice, or breach results in any of the following: (a) A bank, trust company, or other business institution has suffered or will probably suffer substantial financial loss or other damage; (b) The interests of a bank's depositors or shareholders or trust company's beneficiaries or shareholders have been or could be prejudiced; (c) The regulated person has received or will receive financial gain or other benefit. (3) The violation, practice, or breach does either of the following: (a) Involves personal dishonesty on the part of the regulated person; (b) Demonstrates willful or continuing disregard by the regulated person for the safety and soundness of a bank, trust company, or business institution. (B) The notice of charges and intent to remove a regulated person from office or prohibit a regulated person from further participation in the conduct of the affairs of a bank or trust company shall include all of the following: (1) A statement of the violation or violations, unsafe or unsound practice or practices, or breach or breaches alleged; (2) A statement of the facts constituting the grounds for the proposed removal or prohibition order; (3) Notice that the regulated person is entitled to a hearing, in accordance with section 1121.38 of the Revised Code, to determine whether an order removing the regulated person from office, prohibiting the regulated person from further participation in the conduct of the affairs of a bank or trust company, or both, should be issued against the regulated person if the regulated person requests the hearing within thirty days after service of the notice; (4) Notice that, if the regulated person makes a timely request for a hearing, the regulated person may appear at the hearing in person, 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 regulated person. (5) Notice that failure of the regulated person to timely request a hearing to determine whether an order removing the regulated person from office, prohibiting the regulated person from further participation in the conduct of the affairs of a bank or trust company, or both, should be issued or to appear at the hearing, in person, by attorney, or by writing, is consent by the regulated person to the issuance of the order. (C) The superintendent may issue an order removing the regulated person from office or prohibiting the regulated person from further participation in the conduct of the affairs of a bank or trust company, or both, if either of the following applies: (1) The regulated person consents to the issuance of the order; (2) Upon the record of the hearing the superintendent finds the grounds for the order have been established. (D) A regulated person who has been removed from office or prohibited from further participation in the conduct of the affairs of a bank or trust company pursuant to this section or by order of the bank regulatory authority of another state or the United States shall not, while the removal or prohibition order is in effect, continue or commence to hold any office of or participate in any manner in the conduct of the affairs of any bank or trust company in this state, except as specifically permitted by the superintendent or by the bank regulatory authority of another state or the United States pursuant to modification of the order. Participation in the conduct of the affairs of a bank or trust company includes doing any of the following: (1) Soliciting, procuring, transferring, attempting to transfer, voting, or attempting to vote any proxy, consent, or authorization with respect to any voting rights in any bank or trust company; (2) Violating any voting agreement previously approved by the superintendent; (3) Voting for a director of any bank or trust company. (E) An order issued by the superintendent pursuant to this section is effective at the time specified in the order, which, in the case of an order issued pursuant to division (C)(2) of this section, shall be not less than thirty days after service of the order on the regulated person. (F) An order issued by the superintendent pursuant to this section shall remain enforceable and effective 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. (G) The superintendent shall serve a certified copy of a removal or prohibition order issued pursuant to this section on any bank or trust company in relation to which the object of the removal or prohibition order is a regulated person.
Ohio Rev. Code § 1101.03 — Ohio Revised Code / Title 11 / Chapter 1101 / § 1101.03
§ 1101.03. Banks subject to chapters 1101 through 1127
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) Except as otherwise provided in this section, every bank existing on or incorporated after the effective date of this amendment is subject to Chapters 1101. to 1127. of the Revised Code. (B) Except as otherwise provided in this section, Chapters 1101. to 1127. of the Revised Code do not affect the legality of banks organized, loans or investments made or committed to be made, or transactions completed or committed before the effective date of this amendment . (C) Except as otherwise provided in this section, Chapters 1101. to 1127. of the Revised Code do not affect the status of any bank organized, or any banking office established or authorized, before the effective date of this amendment . (D) Chapters 1101. to 1127. of the Revised Code do not apply to persons in their fiduciary capacities, as follows: (1) Any person who, on the effective date of this amendment , is serving as a fiduciary under a trust instrument, will, or other document executed before the effective date of this amendment ; (2) Any person who is named or nominated as a potential, prospective, or successor fiduciary in a trust instrument, will, or other document executed before the effective date of this amendment . (E) Both of the following apply to every savings bank and savings and loan association that is organized under the laws of this state and is in existence as of the effective date of this amendment : (1) The powers, privileges, duties, and restrictions conferred and imposed in the charter or act of incorporation of such an institution are hereby abridged, enlarged, or otherwise modified so that each charter or act of incorporation conforms to the provisions of this title. (2) Notwithstanding any contrary provision in its charter or act of incorporation, every such institution possesses the powers, rights, and privileges and is subject to the duties, restrictions, and liabilities conferred and imposed by this title. (F) Any state bank that wishes to become or remain an affiliate of a savings and loan holding company may do so by complying with section 1109.021 of the Revised Code.
Ohio Rev. Code § 1121.10 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.10
§ 1121.10. Examining records and affairs
Status: in_force

March 20, 2019 House Bill 489 - 132nd General Assembly (A) Except as otherwise provided in section 1121.101 of the Revised Code, as often as the superintendent of financial institutions considers necessary, but at least once each twenty-four-month cycle, the superintendent, or any deputy or examiner appointed by the superintendent for that purpose, shall thoroughly examine the records and affairs of each state bank. The examination shall include a review of all of the following: (1) Compliance with law; (2) Safety and soundness; (3) Other matters the superintendent determines. (B) The superintendent may examine the records and affairs of any of the following as the superintendent considers necessary: (1) Any party to a proposed reorganization for which the superintendent's approval is required by section 1115.11 or 1115.14 of the Revised Code; (2) Any bank, savings and loan association, or savings bank proposing to convert to a bank doing business under authority granted by the superintendent for which the superintendent's approval is required by section 1115.02 of the Revised Code; (3) Any person proposing to acquire control of a state bank for which the superintendent's approval is required by section 1115.06 of the Revised Code, or who acquired control of a state bank without the approval of the superintendent when that approval was required by section 1115.06 of the Revised Code, with respect to the state bank of which control is to be, or was, acquired; (4) Any bank proposing to establish or acquire a branch for which the superintendent's approval is required by section 1117.02 of the Revised Code; (5) Any foreign bank that maintains, or proposes to establish, one or more offices in this state; (6) Any trust company. (C) The board of directors or holders of a majority of the shares of a state bank or trust company may request the superintendent conduct a special examination of the records and affairs of the bank or trust company. The superintendent has sole discretion over the scope and timing of a special examination, and may impose restrictions and limitations on the use of the results of a special examination in addition to the restrictions and limitations otherwise imposed by law. The fee for a special examination shall be paid by the bank or trust company examined in accordance with section 1121.29 of the Revised Code. (D) The superintendent may conduct all aspects of an examination concurrently or may divide the examination into constituent parts and conduct them at various times. (E) The superintendent shall preserve the report of each examination, including related correspondence received and copies of related correspondence sent, for ten years after the examination date.
Ohio Rev. Code § 1125.28 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.28
§ 1125.28. Filing operates as automatic stay
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) The filing with the court of the finding of the superintendent of financial institutions or the certificate of appointment of the receiver, whichever occurs first, operates as an automatic stay from the date of the filing, subject to the court granting a motion for relief from the stay, applicable to all persons, of both of the following: (1) The commencement or continuation, including the issuance or employment of process, of a judicial, administrative, or other action or proceeding against the state bank that was or could have been commenced before the filing; (2) The enforcement against the bank of a judgment or other claim obtained before the filing, including claims of security, preference, priority, and offset. (B) Upon the filing with the court of the finding of the superintendent or the certificate of appointment of the receiver, whichever occurs first, any other pending judicial, administrative, or other action or proceeding against the bank shall, upon motion of the receiver, be consolidated into one action or transferred as a separate matter before the presiding judge of the court having jurisdiction of the receivership, subject, however, to the automatic stay provided in division (A) of this section. Subject to the receiver's option to have an action later consolidated or transferred, any action commenced after the superintendent's filing shall be filed as a separate matter before the presiding judge in the court having jurisdiction over the receivership. (C) The superintendent, prior to the appointment of a receiver, or the receiver, after its appointment, shall be the only party named in an action involving a state bank subject to this chapter. (D) Any action seeking to enjoin the superintendent's order appointing a receiver of a state bank shall be brought prior to the date the receiver sells all or substantially all of the assets of the bank, prior to the date the receiver transfers all or substantially all of the insured deposits to an assuming institution, or within ten days after the issuance of the order, whichever is earliest.
Ohio Rev. Code § 1103.99 — Ohio Revised Code / Title 11 / Chapter 1103 / § 1103.99
§ 1103.99. Penalty for misleading use of name
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly Whoever violates division (E)(1) of section 1103.07 of the Revised Code shall be subject to a civil penalty of up to ten thousand dollars for each day the violation is committed, repeated, or continued. Disclaimer Contact About
Ohio Rev. Code § 1101.10 — Ohio Revised Code / Title 11 / Chapter 1101 / § 1101.10
§ 1101.10. Bank records filed with secretary of state are public records
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly All persons shall have the opportunity of acquiring knowledge of the contents of the articles of incorporation and other records filed and recorded in the office of the secretary of state as required by Chapters 1101. to 1127. of the Revised Code. No person dealing with the bank shall be charged with constructive notice of the contents of any of those articles or records by reason of the filing or recording.
Ohio Rev. Code § 1111.22 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.22
§ 1111.22. Records kept separate
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) A trust company shall keep separate and complete records for each fiduciary account or relationship, including a record of any securities constituting assets of each particular estate, trust, or account. (B) A trust company may place securities it holds in any fiduciary capacity with a qualified custodian of securities. A qualified custodian of securities that has custody of securities held by a trust company in a fiduciary capacity may place those securities with another qualified custodian of securities. (C) A trust company may register and hold securities it holds in any fiduciary capacity in its own name, in the name of a nominee, or, if appropriate to the securities, in bearer form. A custodian of securities that has custody of securities held by a trust company in a fiduciary capacity may hold or place those securities in the name of the trust company, the custodian's own name, the name of either of their nominees, or, if appropriate to the securities, in bearer form. (D) A trust company, and a custodian of securities that has custody of securities held by a trust company in any fiduciary capacity, may hold securities it holds in any fiduciary capacity, including those held in bearer form, in bulk, whether or not the securities are certificated, without certification of ownership attached to the securities. (E) A trust company is liable to an estate, trust, or other fiduciary account for any loss resulting from any acts or omissions of the trust company, a nominee, or a custodian of securities relating to securities the trust company holds in any fiduciary capacity. (F)(1) A trust company that serves as a cofiduciary may, with the consent of the other cofiduciaries, do any of the following: (a) Place securities it holds in any fiduciary capacity with a custodian of securities, as provided in division (B) of this section; (b) Register and hold securities it holds in any fiduciary capacity in its own name, in the name of a nominee, or in bearer form, as provided in division (C) of this section; (c) Hold securities it holds in any fiduciary capacity in bulk, as provided in division (D) of this section. (2) Any person that serves as a cofiduciary with a trust company for any property in this state consisting of securities may consent to the trust company taking any of the actions authorized by division (F)(1) of this section.
Ohio Rev. Code § 1112.24 — Ohio Revised Code / Title 11 / Chapter 1112 / § 1112.24
§ 1112.24. Failure to comply with chapter or refusal to allow inspection
Status: in_force

September 14, 2016 House Bill 229 - 131st General Assembly (A)¿The superintendent of financial institutions may revoke a license issued under this chapter if, after notice and an opportunity for hearing in accordance with Chapter 119. of the Revised Code (which hearing shall not be open to the public), the superintendent finds either of the following: (1) An officer or director of, or any manager or family member acting in a managerial capacity for, the licensed family trust company has failed to comply with any provision of this chapter. (2) The licensed family trust company, or any person authorized to act on its behalf, refuses to allow the superintendent or any deputy or examiner appointed by the superintendent to inspect all books, records, papers, and effects related to the family trust company's business. (B) In addition to any other remedy provided under this chapter, the superintendent may impose a fine of not more than ten thousand dollars upon either of the following: (1) A person who fails to comply with any provision of this chapter or any rule adopted thereunder; (2) A family trust company that is not licensed under this chapter that operates in any manner that is authorized only for licensed family trust companies. Last updated July 22, 2021 at 9:38 AM
Ohio Rev. Code § 1125.05 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.05
§ 1125.05. Continued supervision of voluntary dissolution
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) A voluntary liquidation of a state bank shall be conducted only with the continued supervision of the superintendent of financial institutions. The superintendent may conduct any additional examinations of the bank the superintendent considers necessary or appropriate. (B) If the superintendent has reason to conclude the liquidation of a state bank is not being safely or expeditiously conducted, the superintendent may take possession of the business and property of the bank in the same manner, with the same effect, and subject to the same rights accorded the bank as if the superintendent had taken possession under the receivership provisions of this chapter. The superintendent may proceed to liquidate the affairs of the bank in the same manner as otherwise provided in this chapter.
Ohio Rev. Code § 1125.29 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.29
§ 1125.29. Order declaring bank properly wound up and dissolved
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) When a receiver has completed the liquidation of a state bank, the receiver shall, with notice to the superintendent of financial institutions, petition the court for an order declaring the bank properly wound up and dissolved. (B) After whatever notice and hearing, if any, the court may direct, the court may make an order declaring the bank properly wound up and dissolved. The order shall do both of the following, to the extent applicable: (1) Declare all of the following: (a) The bank has been properly wound up. (b) All known assets of the bank have been distributed according to the distribution priorities set forth in this chapter. (c) The bank is dissolved. (2) If there are known debts or liabilities, describe the provision made for their payment, setting forth whatever information may be necessary to enable the creditor or other person to whom payment is to be made to appear and claim payment of the debt or liability. (C) The order shall confirm a plan by the receiver for the disposition or maintenance of any remaining real or personal property or other assets, whether held in trust or otherwise and including the contents of safe deposit boxes or vaults, held by the bank for its account holders, creditors, lessees, shareholders, or members. The plan shall include written notice to all known owners or beneficiaries of the assets, to be sent by first class mail to each individual's address as shown on the records of the bank. (D) The court may make whatever additional orders and grant whatever further relief it determines proper upon the evidence submitted. (E) Once the order is made declaring the bank dissolved, the corporate existence of the bank shall cease, except for purposes of any necessary additional winding up. (F) Once the order is made declaring the bank dissolved, the receiver shall promptly file a copy of the order, certified by the clerk of the court, with both the secretary of state and the superintendent.
Ohio Rev. Code § 1181.11 — Ohio Revised Code / Title 11 / Chapter 1181 / § 1181.11
§ 1181.11. Records as evidence
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly Copies of all certificates, records, and papers in the office of the superintendent of financial institutions, including the records of the banking commission, the former savings and loan associations and savings banks board, and the credit union council, duly certified by the superintendent or, in the absence of the superintendent, a deputy superintendent having jurisdiction over the records, and authenticated by the superintendent's seal of office, shall be evidence, in all courts of this state, of every matter which could be proved by the production of the original.
Ohio Rev. Code § 1114.07 — Ohio Revised Code / Title 11 / Chapter 1114 / § 1114.07
§ 1114.07. Conditions for issuance of certificate
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) The superintendent of financial institutions shall issue a certificate of authority to commence business if both of the following conditions are met: (1) The superintendent is satisfied, based upon the examination conducted pursuant to section 1114.06 of the Revised Code and any other facts within the knowledge of the superintendent, that the mutual state bank is otherwise entitled to commence business. (2) The superintendent has received from the federal deposit insurance corporation written confirmation that it has approved the bank's application to become an insured bank as defined in section 3(h) of the "Federal Deposit Insurance Act," 92 Stat. 614 (1978), 12 U.S.C. 1813(h), as amended. (B) The mutual state bank shall cause the certificate of authority to commence business to be published once a week for two consecutive weeks in a newspaper of general circulation in the county where the bank's initial banking office is located.
Ohio Rev. Code § 1109.181 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.181
§ 1109.181. Charges under revolving credit agreement
Status: in_force

September 4, 2012 House Bill 322 - 129th General Assembly (A) As used in this section: (1) "Revolving credit agreement" means an agreement pursuant to which a bank contemplates repeated transactions and the amount of credit that may be extended pursuant to the agreement is made available to the extent that any outstanding balance is repaid. "Revolving credit agreement" does not include an agreement secured by a residential mortgage. (2) "Residential mortgage" means an obligation to pay a sum of money evidenced by a note or agreement and secured by a lien upon real property located within this state containing two or fewer residential units or on which two or fewer residential units are to be constructed, including such an obligation on a residential condominium or cooperative unit. (B) Notwithstanding any limitations contained in sections 1109.18 , 1109.20 , or any other section of the Revised Code, a bank may charge interest, fees, and other charges under a revolving credit agreement at the same or lower rates or amounts that a bank located in another state may charge its revolving credit customers in this state.
Ohio Rev. Code § 1125.09 — Ohio Revised Code / Title 11 / Chapter 1125 / § 1125.09
§ 1125.09. Conditions necessary for appointment of conservator
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly The superintendent of financial institutions may appoint a conservator to take possession of the property and business of a state bank and to retain possession until the bank resumes business or a receiver is appointed, as provided for in this chapter, if the superintendent finds any one or more of the following conditions: (A) The bank is in an unsafe or unsound condition to continue the business of banking. (B) The bank is insolvent, in that it has ceased to pay its debts in the ordinary course of business, it is incapable of paying its debts as they mature, or it has liabilities in excess of its assets. (C) The bank has committed a violation of law that has caused or that threatens substantial injury to any of the public, the banking industry, or the bank's depositors or other creditors. (D) The bank has refused to submit its records of account, papers, or affairs to the inspection or examination of any federal agency or the superintendent. (E) The bank has failed to pay its deposits or obligations in accordance with the terms under which the deposits were taken or the obligations were incurred. (F) A majority of the board of directors of the bank or a majority of its shareholders or members has requested the superintendent to appoint a conservator to take possession of the bank. (G) Either all positions on the board of directors of the bank are vacant or all of the directors then in office are incapacitated or otherwise unable to perform their responsibilities. (H) The bank has violated any court order, statute, rule, or regulation, or its articles of incorporation, and the superintendent determines the continued control of its own affairs threatens injury to any of the public, the banking industry, or the bank's depositors or other creditors. (I) The bank's status as an insured institution has been terminated by the federal deposit insurance corporation.
Ohio Rev. Code § 1121.02 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.02
§ 1121.02. Superintendent and deputy superintendent for banks - powers and duties
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) The superintendent of financial institutions shall see that the laws and rules relating to institutions and businesses governed by Chapters 1101. to 1127. of the Revised Code are executed and enforced. (B) The deputy superintendent for banks shall be the principal supervisor of state banks and trust companies. In that position the deputy superintendent for banks shall, notwithstanding sections 1121.10 and 1121.11 of the Revised Code, be responsible for conducting examinations and preparing examination reports under those sections. In addition, the deputy superintendent for banks shall, notwithstanding division (A) of section 1121.03 and sections 1121.05 and 1121.06 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 banks, the deputy superintendent for banks shall be subject to the control of the superintendent of financial institutions.
Ohio Rev. Code § 1101.05 — Ohio Revised Code / Title 11 / Chapter 1101 / § 1101.05
§ 1101.05. Enforceability
Status: in_force

March 20, 2019 House Bill 489 - 132nd General Assembly (A) Except as otherwise expressly provided, the provisions of Chapters 1101. to 1127. of the Revised Code and any rules adopted under those chapters: (1) Are enforceable only by the superintendent of financial institutions, the superintendent's designee, the federal deposit insurance corporation, the federal reserve, or, with respect to Chapter 1127. of the Revised Code, a prosecuting attorney; and (2) Do not create or provide a private right of action or defense for or on behalf of any party other than the superintendent or the superintendent's designee. (B) Division (A) of this section does not apply with respect to sections 1109.18 and 1109.20 of the Revised Code and any rules adopted under those sections.
Ohio Rev. Code § 1121.25 — Ohio Revised Code / Title 11 / Chapter 1121 / § 1121.25
§ 1121.25. Request for confidentiality
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly (A) The superintendent of financial institutions may grant confidential treatment for information in or related to an application or notice submitted to the superintendent pursuant to Chapters 1101. to 1127. of the Revised Code that is subject to the superintendent's approval or an opportunity for the superintendent to disapprove, if confidential treatment is requested by the person submitting the application or notice and any of the following applies: (1) The information is of a commercial or financial nature, disclosure of which would likely result in substantial harm to the competitive position of the person submitting the application or notice, affiliates of the person submitting the application or notice, or any other party to the transaction or its affiliates. (2) The information is of a personal, medical, financial, or similar nature, disclosure of which would result in a clearly unwarranted invasion of personal privacy. (3) The information is contained in, related to, or derived from examinations, operating or condition reports, agreements, orders, or actions prepared by, or on behalf of, or for the use of a governmental agency or authority responsible for the regulation or supervision of financial institutions. (4) The information has been filed with a governmental agency or authority and has not yet been approved for disclosure by that agency or authority. (5) The information is specifically exempted from disclosure by statute. (B) The person requesting confidential treatment under this section shall do so in writing at the time the application or notice containing the information, or additional information related to an application or notice, is submitted. The request shall separately address each item of information for which confidential treatment is requested, explaining the applicability of the asserted justification for confidential treatment and specifically demonstrating the harm that would result from public disclosure of the item of information or the reason the person submitting the application or notice cannot authorize public disclosure of the item of information. The person submitting the application or notice shall separately bind and identify all items of information for which confidential treatment is requested and make specific reference to those items in the remainder of the application or notice or additional information related to the application or notice. (C) The superintendent shall review a request for confidential treatment and provide the person submitting the application or notice with written notice of the superintendent's decision on granting confidential treatment for each item of information for which it is requested. If the superintendent's decision is not to grant confidential treatment to an item of information, the person submitting the application or notice may withdraw the item of information by written notice within ten days after that person's receipt of the superintendent's decision. If the person submitting the application or notice fails to withdraw the item of information within the ten-day period, that person is deemed to have waived the right to withdraw, and the item of information is deemed a part of the application or notice available to the public. (D) An item of information submitted with a request for confidential treatment is deemed not to have been filed with the superintendent until the superintendent grants confidential treatment or the person submitting the application or notice is deemed to have waived the right to withdraw the item of information. Until the item of information submitted with a request for confidential treatment is filed in accordance with this section, no person shall copy or inspect the item of information or anything derived from the item of information, except as is necessary to assist the superintendent in deciding whether to grant confidential treatment to the item of information in accordance with division (C) of this section. (E) When an item of information is filed following the superintendent's decision to grant it confidential treatment, the item of information is not a public record, as defined in section 149.43 of the Revised Code, and shall be used only by the superintendent in connection with the performance of the duties and exercise of the powers of the superintendent. However, without prior notice to the person submitting the application or notice, the superintendent may disclose or comment on any of the contents of the application or notice in an order, statement, or opinion issued by the superintendent in connection with a decision on the application or notice.
Ohio Rev. Code § 1111.27 — Ohio Revised Code / Title 11 / Chapter 1111 / § 1111.27
§ 1111.27. Reporting to superintendent
Status: in_force

January 1, 1997 House Bill 538 - 121st General Assembly Each 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 § 1109.59 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.59
§ 1109.59. Authority to borrow
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly A state bank may borrow money in any sum consistent with safety and soundness. Borrowing by means of the issuance of debt securities is subject to the approval of the superintendent of financial institutions in accordance with section 1107.05 of the Revised Code.
Ohio Rev. Code § 1107.07 — Ohio Revised Code / Title 11 / Chapter 1107 / § 1107.07
§ 1107.07. Par value of bank shares
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly All stock state bank shares shall have par value, whether they are common shares or preferred shares.
Ohio Rev. Code § 1109.16 — Ohio Revised Code / Title 11 / Chapter 1109 / § 1109.16
§ 1109.16. Standards for extensions of credit
Status: in_force

January 1, 2018 House Bill 49 - 132nd General Assembly (A) The superintendent of financial institutions shall adopt rules prescribing standards for extensions of credit that are either of the following: (1) Secured by liens on interests in real estate; (2) Made for the purpose of financing the construction of either a building or improvements to real estate. (B) In prescribing the standards required by division (A) of this section, the superintendent shall consider all of the following: (1) The risk the extensions of credit pose to the federal deposit insurance funds; (2) The need for state banks to operate in a safe and sound manner; (3) The availability of credit; (4) Any other factors the superintendent considers appropriate. (C) In prescribing the standards required by division (A) of this section, the superintendent may differentiate among types of loans on the basis of any of the following: (1) Statutory requirements; (2) Risk to the federal deposit insurance funds; (3) The safety and soundness of state banks. (D) The superintendent shall not adversely evaluate an investment or a loan made by a state bank, or consider a loan to be nonperforming, solely because the loan is secured by or the investment is in commercial, residential, or industrial property, unless the investment or loan may affect the bank's safety and soundness.