Ohio Revised Code Search

...rgin requirements the superintendent of financial institutions may prescribe by rule, a state bank may make loans secured by stocks, bonds, or other securities. (B) Subject to sections 1109.22, 1109.32, and 1109.47 of the Revised Code and any rules the superintendent prescribes, a state bank may purchase obligations of any kind with or without recourse. (C) A state bank may acquire personal property for lease to ot...

...Unless otherwise expressly agreed to in writing by the bank, the relationship between a bank and its obligor, or a bank and its customer, creates no fiduciary or other relationship between the parties or any special duty on the part of the bank to the customer or any other party.

...(A) The superintendent of financial institutions shall adopt rules prescribing standards for extensions of credit that are either of the following: (1) Secured by liens on interests in real estate; (2) Made for the purpose of financing the construction of either a building or improvements to real estate. (B) In prescribing the standards required by division (A) of this section, the superintendent shall consider al...

...k's capital. (b) The superintendent of financial institutions, under conditions the superintendent may prescribe, may authorize a state bank to accept or be obligated for a participation share in drafts or bills of exchange under division (B)(1) of this section, in an amount not exceeding at any time in the aggregate two hundred per cent of the bank's capital. (3) Notwithstanding division (B)(2) of this section, a ...

...(A) A bank may extend credit to a customer pursuant to a revolving credit agreement allowing the customer to access the credit from time to time, subject to a limitation on the outstanding balance of the credit accessed and without regard to whether the customer has previously accessed and repaid the credit. A revolving credit agreement may authorize the customer to access the credit extended by either or both of th...

...(A) As used in this section: (1) "Revolving credit agreement" means an agreement pursuant to which a bank contemplates repeated transactions and the amount of credit that may be extended pursuant to the agreement is made available to the extent that any outstanding balance is repaid. "Revolving credit agreement" does not include an agreement secured by a residential mortgage. (2) "Residential mortgage" means ...

...(A) A bank may contract for and receive interest or finance charges at any rate or rates agreed upon or consented to by the parties to the loan contract, extension of credit, or revolving credit agreement, but not exceeding an annual percentage rate of twenty-five per cent. In addition, a bank may charge, collect, and receive, as interest, other fees and charges that are agreed upon by the bank and the borrower, incl...

...tent specified by the superintendent of financial institutions, any liability of a bank to advance funds to or on behalf of a person pursuant to a contractual commitment; (c) Any credit exposure to a person arising from a derivative transaction between the person and a bank. (3) "Person" includes an individual; sole proprietorship; partnership; joint venture; association; trust; estate; business trust; corporation;...

...) The person owns, controls, or has the power to vote twenty-five per cent or more of any class of the company's or, in the case of a stock state bank, the bank's voting securities. (b) The person controls in any manner the election of a majority of the company's or state bank's directors. (c) The person has the power to exercise a controlling influence over the company's or state bank's management or policies. (4...

...ficer has submitted a detailed, current financial statement. (4) The extension of credit is made on the condition that it shall become due and payable on demand of the state bank at any time when the executive officer is indebted to any other bank or banks on account of extensions of credit of any one of the three categories referred to in divisions (B), (C), and (D) of this section in an aggregate amount greater th...

...anner required by the superintendent of financial institutions. (C) For purposes of this section, the superintendent may determine that stock of a person that controls a stock state bank, if the stock is not readily marketable, is the functional equivalent of stock of the bank and, therefore, subject to divisions (A) and (B) of this section.

...ion by a state bank, grant the bank the power to hold the real estate for a longer time. (2) The superintendent may, at any time, require a state bank to obtain an independent qualified appraisal of real estate the bank owns or holds in accordance with division (A)(1) of this section. (3) Real estate sold on contract, but with title remaining in the name of the state bank, shall not be considered real estate held b...

...(A) A state bank may purchase, acquire by lease, or otherwise invest in the real estate and interests in real estate the board of directors considers necessary or convenient for transaction of the bank's business, including by ownership of an entity having as its exclusive authority the ownership and management of the bank's real estate interests. (B) A state bank may invest an amount equal to the greater of the ban...

... and restrictions the superintendent of financial institutions may prescribe, bonds, debentures, and other debt securities issued by any country or multinational organization that are the direct obligation of the issuing country or multinational organization and for which the full faith and credit of the issuing country or multinational organization is pledged to provide payment of principal and interest; (6) Banker...

...bank may apply to the superintendent of financial institutions for permission to invest, subject to the conditions and requirements prescribed by the superintendent, an amount, in the aggregate, not exceeding ten per cent of a stock state bank's paid-in capital and surplus or a mutual state bank's retained earnings in the stock of banks or corporations chartered or incorporated under the laws of the United States, in...

...ctions imposed by the superintendent of financial institutions by rules adopted in accordance with Chapter 119. of the Revised Code. (B)(1) The total amount any state bank may invest in the common and preferred stock, obligations, and other securities of domestic insurance companies pursuant to division (A) of this section shall not exceed ten per cent of the bank's assets. (2) A state bank may file an application ...

...l business for the purpose of receiving financial assistance from small business investment companies licensed under the "Small Business Investment Act of 1958," 72 Stat. 689, 15 U.S.C. 661, as amended, and rules of the small business administration. (2) A stock state bank may invest, in the aggregate, five per cent of its paid-in capital and surplus, and a mutual state bank may invest, in the aggregate, five per ce...

... and restrictions the superintendent of financial institutions may impose, a state bank may underwrite and deal in investments in the form of bonds, notes, debentures, or other debt securities that are any of the following: (A) The direct obligation of or guaranteed by the United States; (B) The direct obligation of or guaranteed by any state of the United States or any political subdivision of any state of the Uni...

...In addition to the specific investments authorized in this chapter, a state bank may also invest, in the aggregate, no more than ten per cent of its assets in the common or preferred stock, obligations, or other securities of any corporations, as authorized by the bank's board of directors.

...(A) In addition to the other loan and investment authority provided for banks in Chapter 1109. of the Revised Code, but subject to all other provisions of the Revised Code, a state bank may invest up to fifteen per cent of its total assets in loans or investments authorized by the bank's board of directors. (B) If a loan or other investment is authorized under more than one section of Chapter 1109. of the Revised Co...

...(A) For purposes of this section: (1) "Bankers' bank" means a bank organized to engage exclusively in providing services to other depository institutions and depository institution holding companies and their officers, directors, and employees. (2) "Bankers' bank holding company" means a corporation that owns or controls, directly or indirectly, a majority of the shares of the capital stock of a bankers' bank, or c...

...n the approval of the superintendent of financial institutions prior to investing in, acquiring, or establishing a bank subsidiary corporation or bank service corporation, or performing any new activities in a bank subsidiary corporation or bank service corporation. (C)(1) A bank subsidiary corporation that is a wholly owned subsidiary of the state bank may engage in any activities, except taking deposits, that are ...

... As determined by the superintendent of financial institutions after notice and opportunity for a hearing, the state bank directly or indirectly exercising a controlling influence over the management or policies of the company in which the investment is being made.

...A state bank may invest in the shares of a clearing corporation as defined by section 1308.01 of the Revised Code.

...ten permission of the superintendent of financial institutions as required by division (B) of section 1109.34 of the Revised Code; (5) Shares, obligations, securities, or other interests of any other issuer with the written approval of the superintendent. (C) For purposes of this section, no purchase by a state bank of stock in a federal reserve bank or federal home loan bank is an investment. (D) If a state or po...