Ohio Administrative Code Search

... "error" means any of the following: (1) Failure to accept a payment that conforms to the mortgage servicer's written requirements for the borrower to follow in making payments; (2) Failure to apply an accepted payment to principal, interest, escrow, or other charges under the terms of the residential mortgage loan and applicable law; (3) Failure to credit a payment to a borrower's mortgage lo...

...r pursuant to paragraph (C) of rule 1301:8-7-38 of the Administrative Code. A mortgage servicer will provide a written notice to a borrower before any change in the address used for receiving an information request. A mortgage servicer that designates an address for receipt of information requests will post the designated address on any web site maintained by the mortgage servicer if the web site ...

...(A) In accordance with sections 1315.21 to 1315.30 of the Revised Code each check-cashing business shall obtain a license for its main office. An application, license fee and investigation fee shall also be submitted to the superintendent of financial institutions for authorization for each additional business location where check-cashing activity is to be conducted. Every subsequent application f...

...ollowing records shall be maintained: (1) A daily cash reconciliation that summarizes daily activity, reconciles cash-on-hand at the opening of business to cash-on-hand at the close of business, and separately reflects cash received from the sale of checks, cash disbursed in cashing checks, redemption of returned items, bank cash deposits and bank cash withdrawals. (2) A sortable electronic general ...

...consumers as may be required by section 1349.27 of the Revised Code: (1) Counseling services certified by the secretary of the United States department of housing and urban development (HUD) pursuant to 12 U.S.C. 1701x(e), as in effect on November 19, 2013, and that appear on the list maintained by HUD or the bureau of consumer financial protection pursuant to 12 CFR 1024.20(a)(1), as in effect on January 10, 2014;...

...ds required to be maintained by section 1321.422 of the Revised Code and this rule shall be kept current and shall be available at all times during normal business hours for review by the division of financial institutions. Records shall be legible and maintained in a type size that is clearly readable without magnification, and in conformity with any specific typeface or font size that may be required by state or fe...

...equired to be maintained by section 1321.422 of the Revised Code and this rule shall be kept current and shall be available at all times during normal business hours for review by the division of financial institutions. Records shall be legible and maintained in a type size that is clearly readable without magnification, and in conformity with any specific typeface or font size that may be require...

...as a minimum, the following policies: (1) An electronic information policy which shall provide for operating procedures, practices and purchases of devices used for information technology. These policies and procedures shall serve as an overall plan and analysis of how the system benefits the credit union. In addition, these policies and procedures shall provide guidance and uniformity to the credit union's managem...

... minimum, the following policies: (1) An electronic information policy which shall provide for operating procedures, practices and purchases of devices used for information technology. These policies and procedures shall serve as an overall plan and analysis of how the system benefits the credit union. In addition, these policies and procedures shall provide guidance and uniformity to the cre...

...ee described in division (E) of section 1733.32 of the Revised Code, based on a percentage of the gross assets of the credit union, as shown by its last annual financial report, by the following groupings: (1) The amount from $1 to $125,000 of the credit union's gross assets shall be billed at a rate as established by the superintendent; (2) The amount from $125,001 to $4,000,000 of the credit union's gross assets ...

...escribed in division (E) of section 1733.32 of the Revised Code, based on a percentage of the gross assets of the credit union, as shown by its last annual financial report, by the following groupings: (1) The amount from $1 to $125,000 of the credit union's gross assets shall be billed at a rate as established by the superintendent; (2) The amount from $125,001 to $4,000,000 of the credit u...

... by the surety to the superintendent: (1) When the bond of a credit union is terminated in its entirety and when bond coverage is terminated, by issuance of a written notice, on an employee, director, officer or committee member. The notification shall be sent to the superintendent and shall include a brief statement of cause for termination. (2) When the bond coverage is changed by the credit union or surety. The ...

... by the surety to the superintendent: (1) When the bond of a credit union is terminated in its entirety and when bond coverage is terminated, by issuance of a written notice, on an employee, director, officer or committee member. The notification shall be sent to the superintendent and shall include a brief statement of cause for termination. (2) When the bond coverage is changed by the credit union or surety. The ...

...ments and investment restrictions (1) No credit union shall invest any of its funds in any securities or other property not specifically authorized in section 1733.30 of the Revised Code unless the superintendent has approved of the investment policy in writing. The credit union shall file with the superintendent such investment policy with a copy of a resolution of the board of directors of ...

...ments and investment restrictions (1) A credit union may invest funds in securities or other property not specifically authorized in section 1733.30 of the Revised Code if the superintendent has approved of the investment policy in writing. The credit union shall file with the superintendent such investment policy with a copy of a resolution of the board of directors of such credit union app...

...(A) Pursuant to division (C) of section 1733.31 of the Revised Code, the superintendent defines "liquidity fund" as the sum of all cash on hand or on deposit, plus all investments maturing within one year of the date the calculation in paragraph (C)(1) of this rule is performed. (B) The superintendent may require a particular credit union or all credit unions to establish a liquidity fund grea...

...(A) Definitions (1) The term "group" for the purposes of this rule shall be as described in division (D)(1) of section 1733.05 of the Revised Code, except that for the purpose of a vote to disaffiliate group membership, shall not include a member who acquires his "common bond" for member status through familial relationship. (2) "Original credit union" for the purposes of this rule shall mean the credit union from ...

...(A) Definitions (1) The term "group" for the purposes of this rule means a "select group" as described in division (D)(1) of section 1733.05 of the Revised Code; however, for the purpose of a vote to disaffiliate group membership, the term "group" does not include a member who acquires his or her "common bond" for member status through familial relationship. (2) "Original credit union" f...

...te loan" has the same meaning as in 12 C.F.R. 702.2, as in effect on November 1, 2023. (B) For purposes of this rule, a "non-conforming loan" means a loan which the credit union knows or has a reasonable basis to conclude is not eligible to be sold to either the federal naional mortgage association (Fannie Mae) or the federal home loan mortgage corporation (Freddie Mac). (C) For purposes of thi...

...he "Truth in Lending Act," 82 Stat. 149 (1980), 15 U.S.C. 1606, as in effect on July 18, 2023. (B) Adequate insurance on properties securing home equity and second mortgage loans shall be in place and the borrower shall furnish a copy of a fire and casualty policy in at least the amount of any outstanding mortgage with a mortgage loss payable clause in favor of the credit union. (C) Credit union...

...e. Exceptions to this definition are: (1) Loans fully secured by a lien on a one-to-four-family dwelling; (2) Loans fully secured by shares in the credit union or deposits in other financial institutions; (3) Aggregated member business loans to a member or an associated member for less than fifty thousand dollars; (4) Loans fully insured or guaranteed by the federal, state, or local govern...

...(A) As used in this rule: (1) "Fixed assets" means any premises, furniture, fixtures, and equipment. (2) "Furniture, fixtures, and equipment" include all office furnishings, office machines, computer hardware and software, automated terminals, heating and cooling equipment and machinery. (3) "Premises" includes any parking lot, office, branch office, service facility as defined in rule 1301...

...(A) As used in this rule: (1) "Fixed assets" means any premises, furniture, fixtures, and equipment. (2) "Furniture, fixtures, and equipment" include all office furnishings, office machines, computer hardware and software, automated terminals, heating and cooling equipment and machinery. (3) "Premises" includes any parking lot, office, branch office, service facility as defined in rule 1301...

...derally chartered credit union must: (1) Submit the following to the superintendent: (a) A letter requesting conversion and stating the reasons for the conversion; (b) A copy of the application to convert submitted to the national credit union administration; (c) A resolution adopted by a majority of the board of directors of the credit union stating its intention to convert; (d) A certified cop...

...Except as provided in divisions (A)(1) to (A)(8) 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 ...