1116.01 [Effective 1/1/2018] Definitions.

As used in this chapter, unless the context requires otherwise:

(A) "Acquiree mutual bank" means any state bank, savings association, or savings bank that meets both of the following conditions:

(1) It is acquired by a mutual holding company as part of, and concurrently with, a mutual holding company reorganization.

(2) It is in the mutual form immediately prior to the acquisition.

(B) "Reorganization plan" means the plan to reorganize into a mutual holding company structure described in section 1116.07 of the Revised Code.

(C) "Reorganizing mutual state bank" means a mutual state bank that proposes to reorganize into a mutual holding company structure in accordance with this chapter.

(D) "Resulting mutual holding company" means a bank holding company organized in mutual form under this chapter and, unless otherwise indicated, a subsidiary holding company controlled by a mutual holding company organized under this chapter.

(E) "Resulting stock state bank" means a stock state bank that is organized as a subsidiary of a reorganizing mutual state bank to receive a substantial part of the assets and liabilities, including all deposit accounts, of the reorganizing mutual state bank upon consummation of the reorganization.

(F) "Stock bank" means a bank that has an ownership structure in the form of shares of stock and is doing business under authority granted by the superintendent of financial institutions or the bank regulatory authority of another state or the United States.

(G) "Subsidiary holding company" means a stock company that is controlled by a mutual holding company and that owns the stock of a stock state bank whose depositors have membership rights in the parent mutual holding company.

Cite as R.C. § 1116.01

Added by 132nd General Assembly File No. TBD, HB 49, §130.21, eff. 1/1/2018.