Ohio Revised Code Search

...(A) A bank may, in good faith, rely: (1) On any and all information, agreements, documents, and signatures provided by its customers as being true, accurate, complete, and authentic and representing what they purport to represent; and (2) That the persons signing have full capacity and complete authority to execute and deliver any and all such documents and agreements and to act in such capacity as may be represent...

...(A) A bank may receive money on deposit and may establish the terms and conditions of each deposit contract. A bank may receive demand deposits subject to withdrawal or to payment upon the depositor's check, order, or other authorization. (B) At the time of opening a deposit account, a bank shall provide the depositor a statement containing the existing terms and conditions of the deposit contract. The statement may...

...(A) Whenever a depositor opens or modifies the ownership of a deposit account by designating on the signature card the deposit is in trust for another, and no further notice of the existence and terms of a legal and valid trust is given in writing to the bank, both of the following apply: (1) The designation on the signature card constitutes clear and convincing evidence of both of the following: (a) The depositor-...

...(A) When a deposit is made in the name of two or more persons, payable to either or the survivor, the bank may pay all of the deposit, any part of the deposit, or any interest earned on the deposit, to either of the named persons, or the guardian of the estate of either of the named persons, whether or not the other person is living. The receipt or acquittance of the person paid is a sufficient release and discharge ...

...(A) A bank may provide safes, vaults, safe deposit boxes, night depositories, and other secure receptacles for the uses, purposes, and benefits of its customers, on the terms and conditions the bank prescribes. (B) A bank may, on the terms and conditions the bank prescribes, receive tangible property and evidence of tangible or intangible property for safekeeping using any of the following: (1) The bank's safes, va...

...(A) A bank may do any of the following: (1) Accept deposits made by or on behalf of any minor and open an account however payable in the name of one or more persons, one or more or all of whom are minors, or in the name of another person as trustee for a minor, whether or not the deposit is made or the account is opened by the minor; (2) Enter into an agreement to rent a safe deposit box to a minor; (3) Accept the...

...If any claim not clearly consistent with the terms of any applicable authority on file with a bank is made to any deposit, safe deposit box, property held in safekeeping, security, obligation, or other property in the bank's possession or control, in whole or in part, by any person, including any depositor, individual, or group of individuals, whether or not authorized to draw on or exercise any right or control with...

...All deposits of money, or its equivalent, made with a bank shall be entered on its books only in terms of money of the United States.

...(A)(1) Subject to the restrictions and limitations of the Revised Code, a state bank may do any of the following: (a) Loan money, with or without security, and payable on demand, at maturity, in installments, or by any combination of these; (b) Issue, advise, and confirm letters of credit authorizing the beneficiaries of the letters to draw upon the bank or its correspondents; (c) Purchase open accounts, whether o...

...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...

...y one person, partnership, corporation, association, or other entity in an amount equal at any time in the aggregate to more than ten per cent of the bank's capital, unless the bank is secured either by attached documents or by some other actual security arising from the same transaction as the acceptance. (C)(1) Subject to the limitations set forth in division (C)(2) of this section, a state bank may accept drafts ...

...(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...

...rietorship; partnership; joint venture; association; trust; estate; business trust; corporation; government; agency, instrumentality, or political subdivision of a government; limited liability company; or any similar entity or organization. (B) Except as provided in divisions (C), (D), (E), and (F) of this section: (1) The total loans and extensions of credit by a state bank to a person outstanding at any one time...

..., partnership, business or other trust, association, joint venture, pool syndicate, sole proprietorship, unincorporated organization, or other business entity. (b) "Company" does not include either of the following: (i) A bank, savings bank, or savings association, the deposits of which are insured by the federal deposit insurance corporation; (ii) A corporation the majority of the shares of which are owned by the...

...(A) Except as authorized by this section or section 1109.23 of the Revised Code, no state bank may extend credit in any manner to any of its own executive officers. No executive officer of a state bank may become indebted to that bank except by means of an extension of credit the bank is authorized by this section to make. Any extension of credit made pursuant to this section shall be promptly reported to the bank's ...

...(A) No stock state bank shall lend money on the security of shares of its own stock or accept shares of its own stock in satisfaction of a debt, unless necessary to prevent loss on a debt previously contracted in good faith. (B) A stock state bank that accepts shares of its own stock as allowed by division (A) of this section shall retire or dispose of the shares at the time and in the manner required by the superin...

...(A)(1) A state bank may own or hold for not more than five years any real estate it acquires by foreclosure, conveyance in lieu of foreclosure, or other legal proceedings relating to loan security interests or otherwise in satisfaction of a debt previously contracted. The superintendent of financial institutions may, upon application by a state bank, grant the bank the power to hold the real estate for a longer time....

...(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...

...ional banks, savings banks, and savings associations insured by the federal deposit insurance corporation are permitted to invest.

...A state 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 St...

...(A) A state bank may invest in the securities of a domestic insurance company organized under Chapter 3907. or 3925. of the Revised Code, regulated by the superintendent of insurance under Title XXXIX of the Revised Code and engaged exclusively in the business of reinsuring risks, to the extent permitted by and subject to limitations and restrictions imposed by the superintendent of financial institutions by rules ad...

...(A)(1) As used in division (A) of this section: (a) "Venture capital firm" means any corporation, partnership, proprietorship, limited liability company, or other entity, the principal business of which is or will be the making of investments in small businesses. (b) "Small business" means any corporation, partnership, proprietorship, limited liability company, or other entity that either does not have more than fo...