Ohio Revised Code Search

...ce 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, including, but not limited to, periodic membership fees, cash...

...ntractual 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; government; agency, instrumentality, or political subdivision of a government; limited liability company; or any similar entity or organization. (B...

...s than one hundred million dollars in deposits, if the superintendent determines that the exceptions are important to avoid constricting the availability of credit in small communities or to attract directors to those banks. In no case may the aggregate amount of all outstanding extensions of credit by a state bank to all of its executive officers, directors, principal shareholders, and their related interests, be mo...

...ant to this section shall be promptly reported to the bank's board of directors and may be made only if all of the following apply: (1) The state bank would be authorized to make the extension of credit to other borrowers. (2) The extension of credit is on terms that are not more favorable than those afforded to other non-executive borrowers. (3) The executive officer has submitted a detailed, current financial st...

... (A) of this section shall retire or dispose of the shares at the time and in the manner 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 s...

...tendent of financial institutions may, upon application 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 st...

...(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...

... securities of any county, municipal corporation, township, school district, improvement district, sewer district, or other subdivision of this state or any other state of the United States, that are the direct obligation of the county or the subdivision issuing them and for which the full faith and credit of the issuing county or subdivision is pledged to provide payment of principal and interest; (4) Bonds or othe...

...ed earnings in the stock of banks or corporations chartered or incorporated under the laws of the United States, including section 25a of the "Federal Reserve Act of 1913," 12 U.S.C. 611, as amended, and principally engaged in international or foreign banking, or in banking in a dependency or insular possession of the United States, either directly or through the agency, ownership, or control of local institutions in...

...bject to limitations and restrictions 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 stat...

... corporation, organized under Chapter 1726. of the Revised Code to promote agricultural, industrial, and business developments within the state; (iii) A community urban redevelopment corporation, organized under Chapter 1701. or 1702. of the Revised Code and qualified to operate under Chapter 1728. of the Revised Code to initiate and conduct projects for the clearance, replanning, development, and redevelopment of b...

...tendent 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 United States; (C) Acceptable t...

...igations, or other securities of any corporations, as authorized by the bank's board of directors.

...e made. The loan or investment may be apportioned among appropriate categories, and may be moved in whole or in part from one category to another.

...(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...

... other securities of bank subsidiary corporations and bank service corporations. (B) A state bank shall obtain 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 ...

...ons, owning, controlling, or having the power to vote twenty-five per cent or more of any class of voting securities of the company in which the investment is being made; (B) The state bank controlling in any manner the election of a majority of the directors or trustees of the company in which the investment is being made; (C) As determined by the superintendent of financial institutions after notice and opportuni...

...y invest in the shares of a clearing corporation as defined by section 1308.01 of the Revised Code.

... (2) Investment in a bank subsidiary corporation engaged solely in the business of holding title to real estate described in division (A) of section 1109.31 of the Revised Code; (3) Obligations or securities, other than stock, of the federal national mortgage association, the student loan marketing association, the government national mortgage association, or the federal home loan mortgage corporation, or their succ...

...In exercising its investment authority, a state bank shall give equal consideration to investments that involve firms owned and controlled by minorities and firms owned and controlled by women, either alone or in joint venture with other firms, where the investments offer quality, return, and safety comparable to other investments currently available to the bank.

...sting in the securities of a bank or corporation pursuant to this chapter shall furnish information concerning the financial condition of the bank or corporation to the superintendent of financial institutions upon the superintendent's demand.

...For purposes of this section and sections 1109.54, 1109.55, and 1109.56 of the Revised Code: (A)(1) "Affiliate" means any of the following: (a) A company that controls the state bank and any other company controlled by the company that controls the state bank; (b) A bank subsidiary of the state bank; (c) A company that is controlled directly or indirectly, by a trust or otherwise, by or for the benefit of shareho...

...tter of credit, if the collateral is composed of any of the following: (a) Obligations of the United States or its agencies or instrumentalities; (b) Obligations fully guaranteed as to principal and interest by the United States or its agencies or instrumentalities; (c) Notes, drafts, bills of exchange, or bankers' acceptances described in division (B) or (C) of section 1109.17 of the Revised Code; (d) A segregat...

...gesting the bank shall in any way be responsible for the obligations of its affiliates. (E) For purposes of division (C) of this section: (1) "Principal underwriter" means any underwriter, in connection with a primary distribution of securities, that is any of the following: (a) In privity of contract with the issuer or an affiliated person of the issuer; (b) Acting alone or in concert with one or more other pers...

...ules to administer and carry out the purposes of sections 1109.53, 1109.54, and 1109.55 of the Revised Code, including rules that do any of the following: (A) Further define terms used in sections 1109.53, 1109.54, and 1109.55 of the Revised Code; (B) If the superintendent finds them to be in the public interest and consistent with the purposes of sections 1109.53, 1109.54, and 1109.55 of the Revised Code: (1) Exe...