1116.16 [Effective 1/1/2018] Conversion of mutual holding companies.

(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.

Cite as R.C. § 1116.16

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