1301:12-3-04 Commercial lending.

A savings bank may make loans permissible under section 1161.46 of the Revised Code of up to thirty per cent of the savings bank’s assets provided that the savings bank maintains its reserves in accordance with the reserve schedule herein:

Reserve Schedule

Total Commercial Loans as Percentage of Total Assets Reserve Requirement

Up to 10 per cent Reserves required by 1301:12-2-02 of the administrative code

10 per cent to 30 per cent Reserves shall be 5 per cent of total assets excluding any allowances for loan and lease loss

HISTORY: Eff. 6-3-04

Rule promulgated under: RC 119.03

Rule authorized by: RC 1163.24

Rule amplifies: RC 1161.46

119.032 Review Date: 5-24-09