reglab/statecodes huggingface dataset:
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1729 | Ohio Cooperative Law › Section 1729.49 | Disposing of Assets of Association.

Effective:
September 3, 2004
Latest Legislation:
House Bill 288 - 125th General Assembly
(A) As used in this section, "substantially all" means more than two-thirds of the association's assets, measured, in the board's discretion, either by value as recorded in the books and records of the association or by fair market value.
(B) Unless the articles of incorporation or the bylaws of an association otherwise provide, a lease, sale, exchange, transfer, or other disposition of any assets of an association may be made upon terms and for consideration which may consist, in whole or in part, of money or other property, including shares or other securities or promissory obligations of any association or entity, as may be authorized by the board. If a lease, sale, exchange, transfer, or other disposition, or a series of such transactions, would dispose of all or substantially all of the assets of the association, then the disposition may be made only upon a written plan of disposition prepared by the board or by a committee selected by the board for that purpose, and adopted in the same manner as provided for the adoption of a resolution of dissolution in section 1729.55 of the Revised Code. A plan of disposition shall set forth a general description or summary of the assets subject to disposition; the method of disposition; the intended transferee of the assets, if known to the board; and a general description of any material effect the board believes the disposition will have on the interests of the members and stockholders. Notice of a meeting of the members at which a plan of disposition will be voted on shall be given to all members, whether or not entitled to vote at the meeting. The notice shall be accompanied by a copy or summary of the plan of disposition and a ballot for those members entitled to vote on the plan.
(C) The association, by its board, may abandon a plan of disposition, subject to the contract rights of other persons, if the power of abandonment is conferred upon the board either by the terms of the transaction or in the plan of disposition.
(D) An action to set aside a disposition of assets by an association, on the ground that any section of the Revised Code applicable to the lease, sale, exchange, transfer, or other disposition of all or substantially all the assets of the association has not been complied with, shall be brought within ninety days after such transaction, or the action is forever barred.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1729 | Ohio Cooperative Law › Section 1729.56 | Public Notice of Voluntary Dissolution.

Effective:
September 3, 2004
Latest Legislation:
House Bill 288 - 125th General Assembly
Following the filing of the certificate of dissolution, the directors, members, or incorporators who filed the certificate, as the case may be, shall cause a notice of voluntary dissolution to be published once a week on the same day of each week for two successive weeks, in a newspaper published and of general circulation in the county in which the principal place of business of the association was to be or is located and shall cause written notice of dissolution to be given to all known creditors of, and to all known claimants against, the dissolved association.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1729 | Ohio Cooperative Law › Section 1729.60 | Receiver Appointed to Wind Up Affairs of Association.

Effective:
August 5, 1998
Latest Legislation:
House Bill 600 - 122nd General Assembly
(A) Whenever, after an association is dissolved voluntarily, the articles of an association have been canceled, or the period of existence of an association has expired, a receiver is appointed to wind up the affairs of the association, all the claims, demands, rights, interests, or liens of creditors, claimants, members, patrons, and stockholders shall be determined as of the day on which the receiver was appointed. Unless it is otherwise ordered, such appointment vests in the receiver and successors of the receiver the right to the immediate possession of all the property of the association, which shall, if so ordered, execute and deliver conveyances of such property to the receiver.
(B) Any officer, director, member, or other person, whether a resident of the state or a nonresident and however interested, may be appointed as receiver.
(C) The receiver shall have all the authority vested in the directors and officers of the association, shall exercise such authority subject to such orders as are made by the court, and may be required to qualify by giving bond to the state in such amount as the court fixes, with surety to the satisfaction of the clerk of the court, conditioned for the faithful discharge of duties and for a due accounting for all money or property received.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1729 | Ohio Cooperative Law › Section 1729.67 | Marketing Agreements.

Effective:
August 5, 1998
Latest Legislation:
House Bill 600 - 122nd General Assembly
(A) A cooperative and any member may make marketing agreements, whether written separately or contained in the bylaws, in which the member agrees to do any of the following:
(1) Sell, market, or deliver all or any specified part of products produced or to be produced either by the member or under the member's control, to or through the cooperative or any facilities furnished by it;
(2) Authorize the cooperative or any facilities furnished by it to act for the member in any manner with respect to all or any specified part of products produced or to be produced either by the member or under the member's control and any services to be furnished by the member;
(3) Buy or procure all or a specified part of goods or services from or through the cooperative or any facilities furnished by it;
(4) Authorize the cooperative or any facilities furnished by it to act for the member in any manner in the procurement of goods or services for the member.
(B) The term of marketing agreements may not exceed ten years.
(C) A marketing agreement authorized by division (A) of this section may require that liquidated damages be paid by the member in the event of a breach of the marketing agreement. Liquidated damages shall be specific, reasonable sums. Any provisions for liquidated damages shall be enforceable and not regarded as penalties.
(D) If a member breaches or threatens to breach a marketing agreement authorized by this section, the cooperative shall be entitled to an injunction to prevent the breach or any further breach, and to a decree of specific performance. Upon filing of a verified complaint showing the breach or threatened breach, and upon filing a sufficient bond, the cooperative is entitled to a temporary restraining order against the member.
(E) If any marketing agreement authorized by division (A)(1) or (2) of this section contains an assignment to the cooperative of any part or all of the funds due or to become due the member during the life of the marketing agreement for any product produced or to be produced by the member or for any services performed or to be performed in producing any product, any person who accepts or receives the product from the member is bound by the assignment after receiving written notice from the cooperative or the member of the amount and duration of the assignment. However, as to any seasonal crop, if no funds are paid or become payable by any person under such an assignment for a period of two consecutive years during the life of the marketing agreement, thereafter the assignment shall not be binding upon any person who receives or accepts such product from the member until the assignment is reaffirmed by the member in writing and written notice is given by the cooperative or the member. Any such reaffirmation shall continue to be effective during the life of the marketing agreement until another such lapse of two consecutive years occurs.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1729 | Ohio Cooperative Law › Section 1729.68 | Prohibited Acts - Injunctive Relief.

Effective:
August 5, 1998
Latest Legislation:
House Bill 600 - 122nd General Assembly
(A) No processor, handler, distributor, or dealer, or agent thereof, who purchases or contracts to purchase any product from a person who produced the product, or procures for, sells, or otherwise furnishes inputs, services, or supplies to a person shall do either of the following:
(1) Use duress against, coerce, or boycott the person in the exercise of the person's rights to join and belong to a cooperative;
(2) Discriminate against the person with respect to price, quantity, or quality, or other terms of purchase or sale of products or produce, services, or supplies, solely by reason of the person's membership in or marketing agreement with a cooperative.
(B) A member or cooperative on behalf of its member or members may bring an action to enjoin any violation of this section, and, upon filing a sufficient bond, a cooperative is entitled to a temporary restraining order against anyone who violates or threatens to violate this section as set forth in the complaint in the court of common pleas of the county in which the violation occurred. Actions against different defendants may be consolidated, in the discretion of the court, if the alleged violations are of the same provision, have occurred in the same or adjoining counties, relate to the same product, service, or supply, and the consolidation can be made without prejudice to a substantial right of any defendant.
(C) Any person who solicits or persuades or permits or aids or abets, induces, or attempts to induce, any member or other person to breach a marketing agreement with a cooperative, by accepting or receiving from the member or other person, products for sale, marketing, manufacturing, or processing for sale, contrary to the terms of any marketing agreement of which the interfering person has knowledge or notice, is liable to the cooperative for damages caused by such interference, and the cooperative is entitled to an injunction against the interfering person to prevent further breaches and a multiplicity of actions.
(D) Any person that violates or threatens to violate this section shall pay to the cooperative the cooperative's reasonable attorney's fees and other costs incurred by the cooperative in any litigation or proceeding at law or in equity to enforce or defend the cooperative's rights and interests that are protected under this section.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1729 | Ohio Cooperative Law › Section 1729.69 | Unfair Marketing Practices.

Effective:
September 3, 2004
Latest Legislation:
House Bill 288 - 125th General Assembly
(A) No handler shall commit an unfair marketing practice, as defined in division (B) of this section, whenever a marketing cooperative has been authorized by its members to bargain on behalf of its members for sales contracts with the handler and any of the following conditions exist:
(1) Members of the marketing cooperative are obligated to produce and deliver agricultural products or produce under sales contracts negotiated by the marketing cooperative.
(2) Members of the marketing cooperative represent, on the yearly average calculated over the immediate two preceding calendar years, at least fifty-one per cent of the producers who delivered agricultural products or produce to the specified facility of the handler under sales contracts.
(3) Members of the marketing cooperative delivered, under sales contracts, on the yearly average calculated over the immediate two preceding calendar years, at least fifty per cent of the total amount of agricultural products delivered to the specified facility of the handler under sales contracts.
(4) The marketing cooperative, if requested by the handler, presents to the handler copies of the agreements with its members authorizing the marketing cooperative to bargain on behalf of its members for sales contracts for the agricultural products that are the subject of the sales contract under negotiation.
(B) For purposes of this section, it is an unfair marketing practice if either of the following applies:
(1) If the handler or the marketing cooperative that is bargaining fails to bargain in good faith in negotiating sales contracts for agricultural products to be delivered to a facility of the handler;
(2) If a handler enters into a sales contract directly with a producer, pertaining to agricultural products to be delivered to the same facility, with the intent to cause the marketing cooperative to fail to meet the conditions set forth in divisions (A)(2) and (3) of this section.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1729 | Ohio Cooperative Law › Section 1729.70 | Agricultural Cooperative Not Illegal.

Effective:
August 5, 1998
Latest Legislation:
House Bill 600 - 122nd General Assembly
(A) An agricultural cooperative is not a conspiracy, a combination in restraint of trade, an illegal monopoly, or an attempt to lessen competition or to fix prices arbitrarily; and the marketing agreements between such an agricultural cooperative and its members, or any other marketing agreements or sales contracts authorized or described in sections 1729.67 to 1729.70 of the Revised Code, are not illegal as such, in unlawful restraint of trade, or part of a conspiracy or combination to accomplish an improper or illegal purpose.
(B) An agricultural cooperative, upon resolution of its board, may enter into marketing agreements and other arrangements with any other agricultural cooperative. Any two or more agricultural cooperatives may, by agreement between them, unite in employing or separately employ the same personnel, methods, means, and agencies for carrying on their respective businesses. Agricultural cooperatives, acting singly or collectively, may meet in conference with two or more purchasers of their products who are acting collectively, and may at the conference fix by agreement the prices to be paid by the purchasers to the agricultural cooperative for the products. Such concerted action by the purchasers is not a contract in restraint of trade.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1729 | Ohio Cooperative Law › Section 1729.76 | Foreign Association.

Effective:
August 5, 1998
Latest Legislation:
House Bill 600 - 122nd General Assembly
Any foreign association may carry on any proper activities in this state upon compliance with the general regulations applicable to foreign corporations desiring to do business in this state. All contracts that could be made by any association incorporated under this chapter and that are made by or with such foreign associations, shall be enforceable in this state with all of the remedies set forth in this chapter.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1729 | Ohio Cooperative Law › Section 1729.80 | Membership in Other Organizations.

Effective:
August 5, 1998
Latest Legislation:
House Bill 600 - 122nd General Assembly
An association may organize, form, operate, own, control, have an interest in, own stock of, or be a member of any other cooperative, corporation, or other form of organization.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1729 | Ohio Cooperative Law › Section 1729.84 | Exemptions for Agricultural Products.

Effective:
August 5, 1998
Latest Legislation:
House Bill 600 - 122nd General Assembly
Any exemptions under any law applying to agricultural products in the possession or under the control of the individual producer also shall apply to such products delivered by its producer members, as long as such products are in the possession or under the control of an agricultural cooperative.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1729 | Ohio Cooperative Law › Section 1729.85 | Stock Not Considered Securities.

Effective:
September 3, 2004
Latest Legislation:
House Bill 288 - 125th General Assembly
Membership stock and patronage stock of a cooperative are not to be considered securities under Chapter 1707. of the Revised Code.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1729 | Ohio Cooperative Law › Section 1729.86 | Application of Laws.

Effective:
August 5, 1998
Latest Legislation:
House Bill 600 - 122nd General Assembly
(A) Except as otherwise provided in this chapter, this chapter applies to all associations, whether organized under this chapter prior to the effective date of this section or on or after that date.
(B) Any law that is in conflict with this chapter shall be construed as not applying to associations provided for in this chapter.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1729 | Ohio Cooperative Law › Section 1729.99 | Penalty.

Effective:
August 5, 1998
Latest Legislation:
House Bill 600 - 122nd General Assembly
(A) Whoever violates section 1729.04 of the Revised Code shall be fined not less than five hundred nor more than twenty-five hundred dollars for each offense.
(B) Whoever violates division (A) of section 1729.68 or commits an unfair marketing practice as defined in section 1729.69 of the Revised Code shall be fined not less than five hundred nor more than five thousand dollars for each offense.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1731 | Small Employer Health Care Alliances › Section 1731.02 | Encouraging Alliances of Small Employers to Obtain Health Benefit Plans.

Effective:
January 14, 1993
Latest Legislation:
House Bill 478 - 119th General Assembly
(A) It is determined and declared that the provision of health care to employees and retirees in this state and to their dependents and families is of paramount public importance to the economic and general welfare of the people of the state, that rising costs of health care have made it difficult for small employers to provide for health care benefits, that the creation of alliances of small employers to bargain with insurers better assures the obtaining of adequate coverage and benefits under health benefit plans at affordable costs and that the larger the number of employees and other covered persons under such alliance, the more certain is the achievement of those objectives, and that it is the public policy and a public purpose of the state to encourage alliances of small employers to obtain health benefit plans, and to permit flexibility in the coverage and benefits thereunder and encourage substantial size in such alliances, in order to enhance strength in bargaining and economies of scale and thereby achieve broader coverage and benefit options at reduced costs.
(B) The provisions and authority under and benefits provided by this chapter shall be liberally construed and applied toward the achievement of the public objectives set forth in division (A) of this section.
(C) The provisions and authority provided by this chapter are in addition to and not in derogation of other authority under law and do not reflect adversely on any existing or future health benefit organization, program, or arrangement for the benefit of more than one employer that is established under other authority. Any such organization, program, or arrangement that fits the definitions of "small employer health care alliance" and "alliance program," respectively, in section 1731.01 of the Revised Code and otherwise conforms to the applicable conditions and provisions of this chapter is entitled to all applicable benefits under this chapter.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1731 | Small Employer Health Care Alliances › Section 1731.021 | Obtaining Certificate of Authority From Superintendent of Insurance.

Effective:
November 24, 1995
Latest Legislation:
Senate Bill 150 - 121st General Assembly
(A) No organization, on or after July 1, 1996, shall sponsor an alliance health care program without first obtaining a certificate of authority from the superintendent of insurance.
(B) Application for a certificate of authority to sponsor an alliance program shall be made by an organization in writing and in the form prescribed by the superintendent.
(C) The superintendent shall, within ninety days after receipt of an application filed pursuant to division (B) of this section, do either of the following:
(1) Grant a certificate of authority to the applicant if the superintendent determines that the applicant is in compliance with this chapter and any rules adopted thereunder.
(2) Deny the application for a certificate of authority if the superintendent determines that the applicant is not in compliance with this chapter or any rules adopted thereunder. A notice of the denial shall be mailed to the applicant within thirty days after the superintendent makes the determination. The notice shall specify the reasons for the denial and shall state that the applicant may request a hearing within thirty days after the date the notice was mailed.
(D) A certificate of authority granted under this section shall remain in effect through the thirtieth day of June following the date it was granted.
(E) The superintendent shall, at least sixty days prior to the expiration of a certificate of authority, provide notice to the organization of the need for filing a renewal application.
(F) A certificate of authority may be renewed for the ensuing twelve-month period commencing on the first day of July by an organization's filing an application in accordance with division (B) of this section. The superintendent shall renew the certificate of authority if the superintendent determines that the applicant meets the standards set forth in division (C) of this section for an initial certificate.
(G) No insurer or organization shall use the term "alliance," "small employer health care alliance," "alliance program," "alliance health care program," or any other similar term with respect to a health benefit program unless the organization that sponsors the program has been granted a certificate of authority under this section.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1731 | Small Employer Health Care Alliances › Section 1731.05 | Insurers Submitting Proposals to Alliance.

Effective:
January 14, 1993
Latest Legislation:
House Bill 478 - 119th General Assembly
If a qualified alliance, or an alliance that, based upon evidence of interest satisfactory to the superintendent of insurance, will be a qualified alliance within a reasonable time, submits a request for a proposal on a health benefit plan to at least three insurers and does not receive at least one reasonably responsive proposal within ninety days from the date the last such request is submitted, the superintendent, at the request of such alliance, may require that insurers offer proposals to such alliance for health benefit plans for the small employers within such alliance. Such proposals shall include such coverage and benefits for such premiums, as shall take into account the functions provided by the alliance and the economies of scale, and have other terms and provisions as are approved by the superintendent, consistent with the purposes and standards set forth in section 1731.02 of the Revised Code. In making the determination as to which insurers shall be asked to submit proposals under this section, the superintendent shall apply the standards set forth in division (G)(4)(a) of section 3924.11 of the Revised Code. Any insurer that does not submit a proposal when required to do so by the superintendent hereunder, shall be deemed to be in violation of section 3901.20 of the Revised Code and shall be subject to all of the provisions of section 3901.22 of the Revised Code, including division (D)(1) of section 3901.22 of the Revised Code as if it provided that the superintendent may suspend or revoke an insurer's license to engage in the business of insurance.
Nothing in this section shall be construed as requiring an insurer to enter into an agreement with an alliance under contractual terms that are not acceptable to the insurer or to authorize the superintendent to require an insurer to enter into an agreement with an alliance under contractual terms that are not acceptable to the insurer.
This section applies beginning eighteen months after its effective date.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1731 | Small Employer Health Care Alliances › Section 1731.06 | Applying Other Laws.

Effective:
June 4, 1997
Latest Legislation:
Senate Bill 67 - 122nd General Assembly
(A) No health benefit plan offered or provided by an insurer to a small employer under a qualified alliance program is subject to any law that does any of the following:
(1) Inhibits the insurer from selectively contracting with providers or groups of providers with respect to health care service or benefits;
(2) Imposes any restrictions on the ability of the insurer to negotiate with providers regarding the level or method of reimbursing for care or services;
(3) Requires the insurer either to include a specific provider or class of providers, or to exclude any class of providers that are generally authorized by law to provide such care, in connection with health care services or benefits under such health benefit plan;
(4) Limits the financial incentives that a health benefit plan may require a beneficiary to pay when a nonplan provider is used on a nonemergency basis;
(5) Prohibits utilization review of any or all treatments and conditions;
(6) Requires the use of specified standards of health care practice in such reviews or requires the disclosure of the specific criteria used in such reviews;
(7) Requires payments to providers for the expenses of responding to utilization review requests;
(8) Imposes liability for delays in performing such review.
(B) Notwithstanding division (A) of this section, every health benefit plan offered or provided by an insurer, other than a health insuring corporation, to a small employer under a qualified alliance program is subject to sections 3923.23, 3923.231, 3923.232, 3923.233, and 3923.234 of the Revised Code and any other provision of the Revised Code that requires the reimbursement, utilization, or consideration of a specific category of licensed or certified health care practitioner.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1731 | Small Employer Health Care Alliances › Section 1731.07 | Premiums Exempt From Taxation.

Effective:
June 30, 1997
Latest Legislation:
House Bill 215 - 122nd General Assembly
The premiums or other charges received by an insurer from or on behalf of an enrolled small employer and eligible employees or retirees under a health benefit plan provided by the insurer under a qualified alliance program shall not be considered "premiums received" or "premium rate payments received" for purposes of division (A) of section 5725.18 and division (A) of section 5729.03 of the Revised Code, and are exempt from any other tax or excise in this state.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1731 | Small Employer Health Care Alliances › Section 1731.08 | Premiums Fully Deductible.

Effective:
January 14, 1993
Latest Legislation:
House Bill 478 - 119th General Assembly
The premiums or other charges paid by an enrolled small employer to an insurer for health benefit plan coverage under a qualified alliance program are fully deductible in determining taxes payable by such small employer in this state on or measured by net income. Without limiting the foregoing:
(A) With respect to such a small employer that is subject to the income tax imposed by section 5747.02 of the Revised Code, such premiums are to be deducted in determining adjusted gross income under division (A) of section 5747.01 of the Revised Code to the extent such premiums are not allowable as a deduction in determining adjusted gross income for federal income tax purposes.
(B) With respect to such a small employer that is subject to the corporation franchise tax imposed by section 5733.06 of the Revised Code, such premiums are to be deducted in determining the small employer's net income under division (B) of section 5733.05 of the Revised Code to the extent such premiums are not allowable as a deduction in determining taxable income for federal income tax purposes.
(C) With respect to such a small employer that is subject to any income tax levied by a political subdivision or taxing district in this state, such premiums are to be deducted from taxable income or earnings to the extent not otherwise deductible in determining the amount of the tax.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1731 | Small Employer Health Care Alliances › Section 1731.09 | Application of Chapter 3924 - Alliance Business Class.

Effective:
March 23, 2007
Latest Legislation:
Senate Bill 5 - 126th General Assembly
(A) Nothing contained in this chapter is intended to or shall inhibit or prevent the application of the provisions of Chapter 3924. of the Revised Code to any health benefit plan or insurer to which they would otherwise apply in the absence of this chapter, except as otherwise specified in divisions (B) and (C) of this section or unless such application conflicts with the provisions of section 1731.05 of the Revised Code.
(B) An insurer may establish one or more separate classes of business solely comprised of one or more alliances. All of the following shall apply to health plans covering small employers in each class of business established pursuant to this division:
(1) The premium rate limitations set forth in section 3924.04 of the Revised Code apply to each class of business separate and apart from the insurer's other business;
(2) For purposes of applying sections 3924.01 to 3924.14 of the Revised Code to a class of business, the base premium rate and midpoint rate shall be determined with respect to each class of business separate and apart from the insurer's other business.
(3) The midpoint rate for a class of business shall not exceed the midpoint rate for any other class of business or the insurer's non-alliance business by more than fifteen per cent.
(4) The insurer annually shall file with the superintendent of insurance an actuarial certification consistent with section 3924.06 of the Revised Code for each class of business demonstrating that the underwriting and rating methods of the insurer do all of the following:
(a) Comply with accepted actuarial practices;
(b) Are uniformly applied to health benefit plans covering small employers within the class of business;
(c) Comply with the applicable provisions of this section and sections 3924.01 to 3924.14 of the Revised Code.
(5) An insurer shall apply sections 3924.01 to 3924.14 of the Revised Code to the insurer's non-alliance business and coverage sold through alliances not established as a separate class of business.
(6) An insurer shall file with the superintendent a notification identifying any alliance or alliances to be treated as a separate class of business at least sixty days prior to the date the rates for that class of business take effect.
(7) Any application for a certificate of authority filed pursuant to section 1731.021 of the Revised Code shall include a disclosure as to whether the alliance will be underwritten or rated as part of a separate class of business.
(C) As used in this section:
(1) "Class of business" means a group of small employers, as defined in section 3924.01 of the Revised Code, that are enrolled employers in one or more alliances.
(2) "Actuarial certification," "base premium rate," and "midpoint rate" have the same meanings as in section 3924.01 of the Revised Code.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.02 | Purpose of Chapter.

Effective:
January 1, 1979
Latest Legislation:
House Bill 356 - 112th General Assembly
It is hereby declared to be the purpose of the general assembly in enacting Chapter 1733. of the Revised Code:
(A) To enable credit unions to be formed for the purpose of promoting thrift among their members and, to that end, to establish, on a cooperative basis, facilities for savings, credit for provident and productive uses, assistance to members in budgeting and money management and the effective use of their assets and resources, and all activities necessary or incidental thereto;
(B) To delegate to the superintendent of credit unions rule-making power and administrative discretion, subject to this chapter, which will assure that the supervision and regulation of credit unions, chartered or qualified under the laws of this state, may be flexible and readily responsive to changes in economic conditions and in practices within the credit union movement;
(C) To provide for the protection of the interests of members, creditors, and the general public in credit unions doing business in this state;
(D) To permit credit unions to effectively serve the convenience and needs of their members and to permit continued improvement of such services;
(E) To provide the opportunity for the management of credit unions to exercise their business judgment, subject to this chapter;
(F) To clarify and modernize the laws governing credit unions.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.03 | Purpose of Credit Union.

Effective:
November 19, 1971
Latest Legislation:
Senate Bill 3 - 109th General Assembly
The purpose for which a credit union may be formed is to promote thrift among its members, and to that end to establish, on a cooperative basis, facilities for savings, credit for provident and productive purposes, assistance to members in budgeting and money management and the effective use of their assets and resources, and all activities necessary or incidental thereto.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.041 | Insurance Protection for Members' Accounts.

Effective:
March 20, 2019
Latest Legislation:
House Bill 489 - 132nd General Assembly
Each credit union operating under this chapter or otherwise authorized to do business in this state shall obtain insurance for the protection of their members' accounts. Such share guarantee insurance may be obtained from the national credit union administration operating under the "Federal Credit Union Act," 84 Stat. 994 (1970), 12 U.S.C. 1751, and any amendments thereto, or from a credit union share guaranty corporation, established under Chapter 1761. of the Revised Code, or from any insurer qualified under the laws of this state to write such insurance.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.042 | Posting Notice of Insurance.

Effective:
March 17, 1989
Latest Legislation:
Senate Bill 239 - 117th General Assembly
(A) As a condition of doing business in this state, every credit union with members' accounts insured by a credit union share guaranty corporation licensed pursuant to Chapter 1761. of the Revised Code shall post a notice at all public entrances at its place of business and at each of its service facilities. The notice shall be not less than eight and one-half inches by eleven inches and shall include all of the following in not less than twenty-four point type:
(1) A statement that members' accounts are insured by a share guaranty corporation;
(2) The name of the share guaranty corporation;
(3) A conspicuous underlined statement that reads as follows: "MEMBERS' ACCOUNTS ARE NOT INSURED OR GUARANTEED BY ANY GOVERNMENT OR GOVERNMENT-SPONSORED AGENCY."
(B) The notice required by division (A) of this section shall be approved by the superintendent of credit unions and copies of the approved notice shall be furnished to its participating credit unions by the share guaranty corporation at no cost to the credit unions.
(C) All literature provided by the share guaranty corporation for distribution to its participating credit unions shall contain a conspicuous underlined statement that reads as follows: "MEMBERS' ACCOUNTS ARE NOT INSURED OR GUARANTEED BY ANY GOVERNMENT OR GOVERNMENT-SPONSORED AGENCY."
(D) Every credit union described in division (A) of this section also shall include in any literature or other material that contains the name of the share guaranty corporation and that is distributed or intended for distribution to the public a conspicuous underlined statement that reads as follows: "MEMBERS' ACCOUNTS ARE NOT INSURED OR GUARANTEED BY ANY GOVERNMENT OR GOVERNMENT-SPONSORED AGENCY."
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.051 | Grounds for Termination of Services.

Effective:
March 20, 2019
Latest Legislation:
House Bill 489 - 132nd General Assembly
(A) The senior management officials of a credit union may terminate the membership of, or some or all services to, a member of the credit union, if the member does any of the following:
(1) Causes a loss to the credit union;
(2) Commits fraud or any similar misdeed against the credit union or against any person on the premises of the credit union;
(3) Engages in inappropriate behavior involving another person, such as physical or verbal abuse of another member or an employee of the credit union;
(4) Otherwise engages in conduct detrimental to the credit union.
(B) A member that has its membership terminated or services suspended under division (A) of this section may, within ninety days after the termination or suspension, appeal the action to the board of directors of the credit union. The board may affirm, disaffirm, or modify the action, and its decision is final.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.06 | Statutory Agent.

Effective:
May 20, 2014
Latest Legislation:
Senate Bill 98 - 130th General Assembly
Every credit union shall have and maintain a statutory agent upon whom any process, notice, or demand required or permitted by statute to be served upon a credit union may be served. The agent shall be one of the following:
(A) A natural person who is a resident of this state;
(B) A domestic or foreign corporation, nonprofit corporation, limited liability company, partnership, limited partnership, limited liability partnership, limited partnership association, professional association, business trust, or unincorporated nonprofit association that has a business address in this state. If the agent is an entity other than a domestic corporation, the agent shall meet the requirements of Title XVII of the Revised Code for an entity of the agent's type to transact business or exercise privileges in this state.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.08 | Accepting Articles by Secretary of State.

Effective:
July 29, 1998
Latest Legislation:
House Bill 579 - 122nd General Assembly
(A) When the articles and other documents relating to the credit union have been submitted to the secretary of state, the secretary of state shall accept the articles and other documents for filing and record the same by microfilm or by any authorized photostatic or digitized process. Evidence of the filing shall be returned to the credit union.
(B) The legal existence of the credit union shall begin upon the filing of the articles with the secretary of state.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.09 | Meeting of Incorporators.

Effective:
November 19, 1971
Latest Legislation:
Senate Bill 3 - 109th General Assembly
(A) When not less than twenty-five persons, five of whom shall be original incorporators, have met the requirements for membership set forth in section 1733.05 of the Revised Code, the articles and regulations, excepting having been approved by the board of directors for membership, and shall have subscribed for shares of the credit union in an aggregate amount of at least two hundred fifty dollars, the incorporators, or a majority of them, shall give notice of the first meeting of the applicants for membership to each such applicant.
(B) At any meeting of applicants a majority of the applicants for membership shall constitute a quorum; and the applicants, at any such meeting at which a quorum is present, shall pass upon and may admit to membership any or all applicants whose application for membership is received prior to the time the vote is taken.
(C) When not less than twenty-five applicants have been accepted for membership as provided in division (B) of this section, the members shall elect a board of directors.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.10 | Initial Meeting of Board of Directors.

Effective:
July 14, 1987
Latest Legislation:
Senate Bill 149 - 117th General Assembly
(A) Within three business days following their election, the board of directors shall meet and elect or appoint officers and committees pursuant to the provisions of the regulations.
(B) At the first meeting of the board of directors, the directors shall take such other actions as are required of them by the articles or regulations, and may take any other actions authorized by the law, the articles, or regulations.
(C) Each director and officer of a credit union shall, when appointed or elected, take an oath that he will, so far as the duty devolves upon him, diligently and honestly administer the affairs of the credit union, and will not knowingly violate, or willingly permit to be violated, any law applicable to such credit union. Such oath shall be subscribed by the person making it, and certified by an officer authorized to administer oaths. A copy shall be filed in the records of the credit union.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.11 | Action Taken Without Meeting.

Effective:
January 1, 1979
Latest Legislation:
House Bill 356 - 112th General Assembly
Unless the articles or regulations prohibit the authorization or taking of any action of the members or of the directors without a meeting, any action which may be authorized or taken at a meeting of the members or the directors may be authorized or taken by the respective body without a meeting with the affirmative vote or approval of, and in a writing or writings signed by all of the directors or two-thirds of the voting members, who would be entitled to notice of meeting for such purpose or in the case of members, such other proportion or number of voting members, not less than a majority, as the articles or regulations require. Any such writing shall be filed with or entered upon the records of the credit union. Any certificate with respect to the authorization or taking of any such action, which is required to be filed in the office of the superintendent of credit unions or the secretary of state, shall recite that the authorization or taking of such action was in a writing or writings approved and signed as specified in this section.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.12 | Annual Meeting.

Effective:
January 1, 1979
Latest Legislation:
House Bill 356 - 112th General Assembly
(A) An annual meeting of members for the election of directors and the consideration of reports to be presented before such meeting shall be held on the first Friday in March of each year unless another date is provided for in the articles or regulations. When the annual meeting is not held or directors are not elected thereat, they may be elected at a special meeting called for that purpose. Such special meeting shall be called as promptly as possible but in no event later than sixty days after the regular date scheduled for the annual meeting unless the superintendent of credit unions has consented to some later date.
(B) Meetings of members shall be called and conducted in the manner and at the time and place stated in the regulations.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.13 | Voting.

Effective:
March 20, 2019
Latest Legislation:
House Bill 489 - 132nd General Assembly
(A) Each voting member present in person, by proxy, by mail ballot, by electronic ballot, or as otherwise prescribed by a credit union's bylaws is entitled to cast one vote, irrespective of the number of shares the member owns, on each matter properly submitted to the members for their vote, consent, waiver, release, or other action.
(B) The chairperson of the board, the president, any vice-president, secretary, or treasurer of any association member of the credit union shall conclusively be presumed to have authority to cast the vote of such association member and to appoint proxies and execute consents, waivers, releases, on its behalf, unless before a vote is taken or a consent, waiver, or release is acted upon, it appears by a certified copy of the code of regulations, bylaws, or a resolution of the trustees, directors, or executive committee of the said association member, that such authority does not exist or is vested in some other officer or person. For the purposes of this section, a person exercising such authority as such officer is prima-facie to be considered duly elected, qualified, and acting as such officer.
(C) If the articles or regulations so provide, any person, who is entitled to attend a members' meeting to vote thereat, or to execute consents, waivers, or releases, may:
(1) Vote thereat, and execute consents, waivers, and releases, and exercise any of the person's other rights, by mail ballot delivered to, or electronic ballot received by, the office of the credit union at least seven days prior to the date set for the meeting. At least thirty days' notice shall be given to all eligible members of the date set for such meeting. No mail ballot or electronic ballot shall be valid after the expiration of eleven months after delivery to or receipt by the credit union. The form of any mail ballot or electronic ballot shall comply with criteria established by the superintendent of financial institutions or have the prior written approval of the superintendent.
(2) Be represented at such meeting or vote thereat, and execute consents, waivers, and releases, and exercise any of the person's other rights, by proxy or proxies appointed by a writing signed by such person. No appointment of a proxy shall be valid after the expiration of eleven months after it is made. The form of any proxy shall comply with criteria established by the superintendent or have the prior written approval of the superintendent.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.14 | Quorum at Member Meeting.

Effective:
March 20, 2019
Latest Legislation:
House Bill 489 - 132nd General Assembly
The quorum for a members' meeting, which may be set forth in the articles or regulations of a credit union, shall include those members present and eligible to vote as provided in section 1733.13 of the Revised Code. Unless the articles or regulations otherwise provide:
(A) One per cent of the voting members of a credit union, or twenty-five, whichever is lower, constitutes a quorum at any meeting of members.
(B) The act of a majority of the voting members represented in person, by mail ballot, by electronic ballot, by proxy, or as otherwise prescribed by a credit union's bylaws, at a meeting at which a quorum is present shall control, but no action required by law, the articles, or regulations to be authorized or taken by a designated proportion of the members may be authorized or taken by a lesser proportion.
(C) The voting members represented at a meeting, whether or not a quorum is present, may adjourn such meeting from time to time.