1301:9-3-13 Approval of investments.

(A) Except as provided in divisions (A)(1) to (A)(6) of section 1761.13 of the Revised Code, a credit union share guaranty corporation shall not invest or deposit its funds in any manner or make any investment in any company, related or unrelated, without obtaining the prior written approval of the superintendent of credit unions.

(B) As used in paragraph (A) of this rule:

(1) "Company" means any corporation, partnership, association, joint stock company or unincorporated organization.

(2) "Investment" means any equity interest, including, general partnership interests, limited partnership interests in which liability is limited to the amount of the investment, and any bonds, notes, debentures or other evidence of indebtedness of any company.

(3) "Related" means the business or activities of the company are similar to the business and activities of the credit union share guaranty corporation with respect to business, trade, products or services.

(4) "Unrelated" means the business or activities of the company are not similar to the business and activities of the credit union share guaranty corporation with respect to business, trade, products or services.

R.C. 119.032 review dates: 11/16/2009 and 11/15/2014

Promulgated Under: 119.03

Statutory Authority: 1761.04

Rule Amplifies: 1761.13(A)(7)

Prior Effective Dates: None