Ohio Revised Code Search

... on which interest is assessed and the method of compounding interest on the balance pursuant to this section shall be as agreed upon by the credit union and the member.

... employed by the credit union shall be determined by rules adopted by the superintendent of financial institutions in accordance with Chapter 119. of the Revised Code. At a minimum, the rules shall require loan originators to furnish to the nationwide mortgage licensing system and registry information concerning the loan originator's identity and be consistent with the requirements for federally insured credit ...

...rsuant 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" has the same meaning as in section 1109.181 of the Revised Code. (B) Notwithstanding any limitations contained in sections 1733.25, 1733.251, or any other section of the Revised Code, a credit un...

...ng of all credit unions shall be on a calendar year basis unless otherwise authorized by the superintendent of credit unions.

...ntaining such items as shall be acceptable to the superintendent of credit unions. (B) The balance sheet required by division (A) of this section shall be as of the date not more than four months preceding the date of the meeting, and the profit and loss statement required by division (A) of this section shall be for a period commencing with the date marking the end of the period for which the last preceding stateme...

...les and regulations and amendments thereto and any amended articles or regulations and amendments thereto, all bearing the approval of the superintendent of credit unions, and the articles shall bear the certification of the secretary of state; (2) The minutes of the incorporators, members, and board of directors. (B) A credit union shall keep for a period of not less than six years the minutes of all committ...

...oans that have been paid, or other completed transactions, after the date of closing, payment, or completion; (c) Ledger records of safe deposit accounts, after the date of last entry on the ledger; (d) Night depository records, after the date of transaction; (e) Records relating to closed Christmas club or similar limited duration special purpose accounts, after the date of closing; (f) Records relating to ...

...pt the copy or reproduction need not reflect the original paper or other medium, size, or color, unless the medium, size, or color is necessary to establish the authenticity of the original. (2) The process does not permit the recording, copy, photographic image, or stored representation of the original document, paper, or other instrument or record to be altered or manipulated. (3) Any medium the process uses...

...n at such prices as may be agreed upon between the credit unions. (C) A corporate credit union may make investments provided the investments are in accordance with rules adopted by the superintendent, are consistent with the safety and soundness of the credit union, and are made with due regard to the investment requirements established by the applicable insurer recognized under section 1733.041 of the Revised Code.

... (5) If the regular reserve account becomes less than the percentage required by division (B)(1) or (2) of this section, then the schedule of allocation shall apply until the required percentages are achieved. (6) The superintendent may decrease the reserve requirements under division (B)(1) or (2) of this section when, in the superintendent's opinion, a decrease is necessary or desirable and is consistent with the ...

...spection of the superintendent at all times. For the purpose of such examination or inspection, the superintendent may subpoena witnesses, administer oaths, receive testimony, and order the submission of documents. (B) Every credit union shall prepare and submit, on forms provided by the superintendent, a financial report to the superintendent showing its assets and liabilities whenever requested to do so by the sup...

...ion of financial institutions shall be determined in accordance with procedures prescribed by the superintendent. Such assessment shall be paid from the credit unions fund to the division of administration fund or the financial institutions fund.

...r. The purpose of such review is to enable the outside auditor to assist the board of directors of the credit union in formulating a management response to any supervisory inquiry or action that may result from such examination or re-examination. If the outside auditor undertakes such a review, the expense of the review shall be paid by the credit union.

...of any section of this chapter or any rule adopted thereunder. (B) The superintendent shall, at a minimum, issue guidelines pursuant to division (A) of this section which address the following: (1) Collateralization limits that apply to particular transactions; (2) All aspects of repurchase agreements and reverse repurchase agreements, including limitations on the amount of securities a credit union may assign as ...

...es in the future. Such final order becomes effective upon service on the credit union or regulated individual and remains effective and enforceable as its terms provide, except to such extent as it is stayed, modified, terminated, or set aside by action of the superintendent or a reviewing court. (3) If the superintendent proposes to issue a cease-and-desist order based on the violation of a supervisory agreement, ...

...onferences set by the superintendent. Unless a director has a reasonable excuse for his refusal or failure to attend a supervisory conference, such refusal or failure shall be grounds for removal under section 1733.181 of the Revised Code. (B) At the supervisory conference, the superintendent shall inquire into the actions or business practices at issue. If it appears to the superintendent that such actions or busin...

...endent shall bring a civil action to collect the forfeiture. A regulated individual is personally liable for the payment of any civil penalty that is assessed against him under this section. No credit union that employs a regulated individual, or of which a regulated individual is a director or officer shall pay, or cause to be paid, on behalf of the regulated individual, or indemnify or otherwise reimburse the regu...

...rsons who may be present or acquire knowledge of matters made confidential by this division, the superintendent and director shall not exclude attorneys or other suitable representatives of the credit union, or of any regulated individual, who is party to the conference or proceedings. If the conference or proceedings apply to a regulated individual, the superintendent and director shall not exclude suitable represen...

...ions rating system, it maintains a composite rating of one. (B) The superintendent may conduct more frequent examinations if either of the following applies: (1) The superintendent has reasonable cause to believe that there is a risk of harm to the credit union and the examination of the credit union is necessary to fully determine the risk to the credit union or to determine how best to address the risk. (2) ...

... hundred million dollars or less in assets. (C)(1) Initial appointments to the council shall be made within sixty days after September 22, 2000. Of the initial appointments, two shall expire one year after September 22, 2000, two shall expire two years after September 22, 2000, and two shall expire three years after September 22, 2000. Thereafter, terms of office shall be for three years. (2) Each member sha...

...and provide recommendations, advice, or assistance at the public hearing. (B) Neither the deputy superintendent, nor any other member of the council, shall be liable, in any civil or criminal action or proceeding, for any mistake of judgment or discretion in any action taken, or in any omission made, in good faith by the deputy superintendent or other member.

...state where the principal office of the credit union is located; (3) An amendment changing the authorized number of shares; the express terms, if any, of the shares; and if the shares are classified, as permitted in section 1733.24 of the Revised Code, the designation of each class, their express terms, and par value, of any, per share. (C) In the event amendments to the articles or regulations or amended articles ...

...person, by ballot, or by proxy, duly called for such purpose, at which a quorum of the entire membership is present, unless such meeting of members of either credit union has been waived by the superintendent. The superintendent may waive the members' vote if it is in the interest of the members, credit union, or for any other reason the superintendent deems proper. After such approval of the board and ...

...is chapter upon compliance with applicable state and federal laws, rules, and regulations. Any production credit association organized under the "Farm Credit Act of 1971," 85 Stat. 583, 12 U.S.C.A. 2091 to 2097, may convert to a credit union organized under this chapter upon compliance with applicable state and federal laws and regulations and with the approval of the superintendent of credit unions.

... include in such notice a list of the names of directors and officers of the credit union together with their addresses.