Ohio Revised Code Search

...(A) The superintendent of financial institutions may assess civil penalties against a bank, trust company, or, in relation to matters concerning a state bank, foreign bank, or trust company, a regulated person for each day a violation, unsafe or unsound practice, or breach continues as follows: (1) The superintendent may assess a civil penalty of not more than five thousand dollars per day if the bank, trust company...

...(A)(1) An administrative hearing provided for in section 1121.32, 1121.33, 1121.35, or 1121.41 of the Revised Code shall be held in the county in which the principal place of business of the bank or trust company or residence of the regulated person is located, unless the bank, trust company, or regulated person requesting the hearing consents to another place. Within ninety days after the hearing, the superintendent...

...(A) The superintendent of financial institutions may issue and serve a notice of charges and intent to issue an order placing a bank or trust company under supervision and appointing a supervisor for the bank or trust company, if, in the opinion of the superintendent, any of the following applies: (1) In the case of a bank, any of the conditions listed in section 1125.09 of the Revised Code for appointing a conserva...

...(A) If a state bank is undercapitalized, the superintendent of financial institutions shall notify the bank of the fact of the undercapitalization. The superintendent may require the bank to submit a written capital restoration plan to the superintendent within forty-five days after the bank receives that notice, unless the superintendent authorizes in writing a longer period of time. (B) A capital restoration plan ...

...(A) There is hereby created in the division of financial institutions a banking commission which shall consist of nine members. The deputy superintendent for banks shall be a member of the commission and its chairperson. The governor, with the advice and consent of the senate, shall appoint the remaining eight members. (B) After the second Monday in January of each year, the governor shall appoint two members. Terms...

...The banking commission shall do all of the following: (A) Make recommendations to the deputy superintendent for banks and the superintendent of financial institutions on the business of banking; (B) Consider and make recommendations on any matter the superintendent or deputy superintendent submits to the commission for that purpose; (C) Pass upon and determine any matter the superintendent or deputy superintendent...

...(A) A state bank may proceed with a voluntary liquidation and be closed only with both the consent of the superintendent of financial institutions and the prior approval of the shareholders or members of the bank by a vote as provided for in its articles of incorporation, if not less than a majority. (B) Prior to instituting a voluntary liquidation, a state bank shall submit to the superintendent an application for ...

...The superintendent of financial institutions may appoint a conservator to take possession of the property and business of a state bank and to retain possession until the bank resumes business or a receiver is appointed, as provided for in this chapter, if the superintendent finds any one or more of the following conditions: (A) The bank is in an unsafe or unsound condition to continue the business of banking. (B) T...

...(A) If it appears to the superintendent of financial institutions that any one or more of the conditions set forth in section 1125.09 of the Revised Code exists as to any state bank, the superintendent may appoint a conservator, which appointment may include the superintendent, and thereafter may dismiss or replace the conservator as the superintendent determines necessary or advisable. The superintendent may fix the...

...(A) The conservator shall evaluate the business and assets of the state bank and, after conducting whatever investigations the circumstances may require, shall recommend to the superintendent of financial institutions that either the conservatorship of the bank be terminated or the superintendent appoint a receiver and the bank be liquidated as otherwise provided in this chapter. The conservator shall consult with th...

...The superintendent of financial institutions may take possession of the property and business of a state bank if the superintendent finds any one or more of the following conditions: (A) The bank is in an unsafe or unsound condition to continue the business of banking. (B) The bank is insolvent, in that it has ceased to pay its debts in the ordinary course of business, it is incapable of paying its debts as they ma...

...(A) Upon issuing a written finding that any one or more of the conditions set forth in section 1125.18 of the Revised Code for taking possession of a state bank exists and taking possession of the state bank, the superintendent of financial institutions shall file a certified copy of the finding and the notice of possession with the court. (B) Upon the appointment of a receiver, the superintendent shall file a certi...

...(A) If it appears to the superintendent of financial institutions that any one or more of the conditions set forth in section 1125.18 of the Revised Code exists as to any state bank, the superintendent shall tender appointment as receiver to the federal deposit insurance corporation if any deposits in the state bank are insured by the federal deposit insurance corporation, and may tender appointment as receiver to th...

...(A) All claims against the state bank's estate and expenses, proved to the receiver's satisfaction or approved by the court, shall be paid in the following order: (1) Expenses of liquidation and receivership, including money borrowed under authority of division (A)(6) of section 1125.22 or division (A)(7) of section 1125.12 of the Revised Code and interest on it, and claims for fees and assessments due the superinte...

...(A) When a receiver has completed the liquidation of a state bank, the receiver shall, with notice to the superintendent of financial institutions, petition the court for an order declaring the bank properly wound up and dissolved. (B) After whatever notice and hearing, if any, the court may direct, the court may make an order declaring the bank properly wound up and dissolved. The order shall do both of the followi...

...(A) The treasurer of state may designate a private entity to serve as the single state information depository in this state for the purpose of assisting brokers, dealers, including municipal securities dealers, and individuals in complying with rule 15c2-12 promulgated by the securities and exchange commission under the "Securities Exchange Act of 1934," 48 Stat. 881, 15 U.S.C. 78o(c). In designating the entity to se...

...(A) As used in this section: (1) "Administrative agent of the board of deposit" means the treasurer of state. (2) "Financial transaction device" includes a credit card, debit card, banking card, prepaid or stored value card, or any other device or method for making an electronic payment or transfer of funds denominated in United States dollars. (3) "Processor" means an entity conducting the settlement of an e...

...As used in sections 113.50 to 113.56 of the Revised Code: (A) "ABLE account" means an individual account opened in accordance with the program or a similar ABLE account program established by another state in accordance with section 529A of the Internal Revenue Code. (B) "Account owner" means a designated beneficiary or any other person authorized to be the owner of an ABLE account under federal law. (C) "Designat...

...(A) The treasurer of state shall solicit proposals from financial organizations to act as depositories and managers of the program. Financial organizations submitting proposals shall describe the investment instruments that will be held in program accounts. The treasurer may select more than one investment instrument for the program. The treasurer shall select as program managers the financial organization or organiz...

...(A) A designated beneficiary, or a trustee or guardian of a designated beneficiary who lacks capacity to enter into an agreement, may apply, on forms prescribed by the treasurer of state, to open a program account. A beneficiary may have only one ABLE account. The treasurer of state may impose a nonrefundable application fee. The application shall require the applicant to provide the following information: (1) The ...

...As used in sections 113.70 to 113.77 of the Revised Code: (A) "Expenditure" means a payment, distribution, loan, advance, reimbursement, deposit, or gift of money from a state entity to any supplier. (B) "Political subdivision" means a county, city, village, public library, township, park district, school district, regional water and sewer district, or regional transit authority. (C) "Public library" means a li...

...(A) The treasurer of state, in collaboration with the directors of budget and management and administrative services, shall establish and maintain the Ohio state and local government expenditure database. The database shall be accessible on the web site of the treasurer of state and the web site of the office of budget and management. (B) The database shall include information about expenditures made in each fisca...

...As used in this chapter: (A) "Color of office" means actually, purportedly, or allegedly done under any law, ordinance, resolution, order, or other pretension to official right, power, or authority. (B) "Public accountant" means any person who is authorized by Chapter 4701. of the Revised Code to use the designation of certified public accountant or who was registered prior to January 1, 1971, as a public acc...

...(A) The auditor of state shall audit all public offices as provided in this chapter. The auditor of state also may audit the specific funds or accounts of private institutions, associations, boards, and corporations into which has been placed or deposited public money from a public office and may require of them annual reports in such form as the auditor of state prescribes. The auditor of state may audit some or all...

...(A) Except as otherwise provided in this division and in section 117.112 of the Revised Code, the auditor of state shall audit each public office at least once every two fiscal years. The auditor of state shall audit a public office each fiscal year if that public office is required to be audited on an annual basis pursuant to "The Single Audit Act of 1984," 98 Stat. 2327, 31 U.S.C.A. 7501 et seq., as amended. In the...