Ohio Administrative Code Search

...(A) For purposes of this rule, "first-lien residential real estate 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 l...

...(A) "Construction loans" are loans made for the purpose of building on vacant land or construction additions to existing structures. Because the incomplete structure and the land represent the security for the loan, funds are disbursed in installments as work progresses. One of three methods, or variants thereof, are used to ensure a lien free, and an adequately collateralized loan throughout construction. These thre...

...(A) "Construction loans" are loans made for the purpose of building on vacant land or construction additions to existing structures. Because the incomplete structure and the land represent the security for the loan, funds are disbursed in installments as work progresses. One of three methods, or variants thereof, are used to ensure a lien free, and an adequately collateralized loan throughout cons...

...(A) A "home equity loan or a second mortgage loan" is a loan secured by the equity in a dwelling, and is made for a purpose other than the purchase or refinancing of the dwelling, regardless of the lien priority. A home equity loan may be one with lines of equity credit which are either variable or fixed-rate. Home equity loans qualify as consumer credit. Home equity and second mortgage loans shal...

...(A) A "member business loan" is defined as any loan, line of credit or letter of credit which will be used for commercial, corporate, business, investment property or venture, or agricultural purpose. 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 insti...

...(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...

...(A) A "Credit Union Service Organization" (CUSO) means any organization, as determined by the superintendent, in which a credit union can invest in and make loans if the CUSO primarily serves credit unions, its membership, or the membership of other credit unions and whose business relates to the daily or routine operation of the credit unions it serves, are incidental to the credit union, are pro...

...(A) A "Credit Union Service Organization" (CUSO) means any entity in which a credit union has an ownership interest or to which a credit union has extended a loan, and that entity is engaged primarily in providing products or services to credit unions or credit union members. A CUSO also includes any entity in which a CUSO has an ownership interest of any amount, if that entity is engaged primaril...

...(A) Any conversion of a state chartered credit union to a federally chartered credit union or a federally chartered credit union to a state chartered credit union is subject to the approval of the superintendent. (B) A state chartered credit union seeking to convert to a federally chartered credit union must: (1) Submit the following to the superintendent: (a) A letter requesting conversion an...

...(A) 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 an...

...(A) The credit union share guaranty corporation shall submit its annual report to the superintendent of credit unions, department of commerce, within one hundred days after the close of the fiscal year. The annual report shall be certified by the oath of the president and secretary of the credit union share guaranty corporation which shall state that the annual report is true and correct in all respects to the best o...

...(A) "Intangible property" means unclaimed funds as defined in division (B) of section 169.01 and section 169.02 of the Revised Code, or a fixed and certain interest in intangible personal property, of every kind or description, that is held, issued or owed in the course of a holder's business, and all income or increments therefrom. The term "intangible property" includes, but not by way of limita...

...(A) "Intangible property" means unclaimed funds as defined in division (B) of section 169.01 and section 169.02 of the Revised Code, or a fixed and certain interest in intangible personal property, of every kind or description, that is held, issued or owed in the course of a holder's business, and all income or increments therefrom. The term "intangible property" includes, but not by way of limita...

...(A) The director may, at reasonable times and upon reasonable notice, examine or cause to be examined by auditors of supervisory departments or examiners of the divisions of the state, the records of any holder or person which could be the holder of unclaimed funds, to determine compliance with Chapter 169. of the Revised Code. The director may enter into contracts, pursuant to procedures prescrib...

...(A) The director may, at reasonable times and upon reasonable notice, examine or cause to be examined by auditors of supervisory departments or examiners of the divisions of the state, the records of any holder or person which could be the holder of unclaimed funds, to determine compliance with Chapter 169. of the Revised Code. The director may enter into contracts, pursuant to procedures prescrib...

...(A) An underlying share is a security, certificate or other ownership interest as described in division (E) of section 169.02 of the Revised Code, which may or may not be in the possession of the shareholder/owner, issuer, holder, transfer agent, broker or other person. (B) An underlying share, security or other intangible instrument representing an ownership interest in a business association, which is a registere...

...(A) Every holder maintaining safe deposit boxes or other safekeeping repositories located in this state shall report to the director, under section 169.03 of the Revised Code, with an inventory of property in its possession which constitute unclaimed funds under division (I) of section 169.02 of the Revised Code, provided, however, that if the holder has sold such property, the holder shall report to the director any...

...(A) Any person may ascertain the time and place of all regularly scheduled meetings and the time, place, and purpose of all special meetings of the real estate appraiser board by: (1) Writing to the following address - "Real Estate Appraiser Board, Division of Real Estate and Professional Licensing, 77 South High Street, Columbus, Ohio 43215-6133," or (2) Calling the following telephone numb...

...(A) A person, who has obtained a residential real estate appraiser license from another state may obtain an Ohio residential real estate appraiser license provided all of the following are satisfied: (1) The state that issued the person a residential real estate appraiser license has requirements that meet or exceed the requirements for a residential real estate appraiser license in Ohio; (2...

...(A) A person, who has obtained a residential real estate appraiser license from another state may obtain an Ohio residential real estate appraiser license provided all of the following are satisfied: (1) The state that issued the person a residential real estate appraiser license has requirements that meet or exceed the requirements for a residential real estate appraiser license in Ohio; (2...

...(A) An applicant for a residential real estate appraiser license, shall comply with the following: The applicant shall complete one hundred fifty classroom hours of instruction in the required core curriculum listed in this paragraph and at least one course devoted exclusively to federal, state, and municipal fair housing law, obtained from a nationally or state recognized appraisal or real estat...

...(A) An applicant for a residential real estate appraiser license, shall comply with the following: The applicant shall complete one hundred fifty classroom hours of instruction in the required core curriculum listed in this paragraph and at least one course devoted exclusively to federal, state, and municipal fair housing law, obtained from a nationally or state recognized appraisal or real estat...

...(A) Applicants seeking a state-licensed residential real estate appraiser license shall: (1) Certify under oath that he or she has acquired one thousand hours of experience in real estate appraisal, and (2) Furnish, under oath, a detailed listing of the appraisal reports or file memoranda for each year for which experience is claimed and, upon request of the superintendent or the board, mak...

...(A) Applicants seeking a state-licensed residential real estate appraiser license shall: (1) Certify under oath that he or she has acquired one thousand hours of experience in real estate appraisal, and (2) Furnish, under oath, a detailed listing of the appraisal reports or file memoranda for each year for which experience is claimed and, upon request of the superintendent or the board, mak...