Ohio Revised Code Search

...the resulting stock state bank at which time the first tier subsidiary stock state bank becomes a mutual holding company; (3) In any other manner approved by the superintendent. (B) As a part of its mutual holding company reorganization, a mutual state bank may organize as a subsidiary holding company of the mutual holding company, which subsidiary holding company shall own all of the outstanding voting stock of th...

...of an application for a mutual holding company reorganization under division (C)(3) of section 1116.05 of the Revised Code, the superintendent of financial institutions shall do one of the following: (1) Accept the application for processing; (2) Request additional information to complete the application; (3) Return the application if it is substantially incomplete. (B) Within one hundred eighty days after an app...

...ling from the United States internal revenue service and the Ohio department of taxation, as to the federal and state tax treatment of the proposed reorganization; (C) A copy of the articles of incorporation and code of regulations of the proposed mutual holding company, the resulting stock state bank, and any affiliate organizations in the holding company structure; (D) A description of the method of reorganizatio...

...reorganization application, the superintendent of financial institutions shall, to effect the reorganization, forward the articles of incorporation to the secretary of state for filing.

...ock state bank who are borrowers at the time of reorganization the same membership rights in the mutual holding company as were conferred upon them by the articles of incorporation or code of regulations of the reorganizing mutual state bank in effect immediately prior to the reorganization, but not any membership rights in connection with any borrowings made after the reorganization; (4) Confer upon the borrowers o...

...ection with the reorganization, or as amended in accordance with law or rule after the reorganization. (B) The board of the mutual holding company and any subsidiary holding company shall have at least five members who, initially, shall consist of the board of directors of the reorganizing mutual state bank. Such members, after the formation of the mutual holding company and any subsidiary holding company, shall con...

...pressly retained by the mutual holding company shall be transferred to the resulting stock state bank.

...tion of the reorganization, without payment, an identical deposit account in the resulting stock state bank or acquiree mutual state bank.

...of financial institutions, at any later time. (B) It may be terminated by either board at any time before the meeting at which the members vote on the reorganization plan or, with the written consent of the superintendent, at any later time.

...s may, with the approval of the superintendent of financial institutions, convert to a mutual holding company organized under this chapter by submitting an application in accordance with rules adopted by the superintendent under section 111.15 of the Revised Code. (B) State banks existing as of the effective date of this section that are affiliates of a mutual holding company organized under the laws of another sta...

...oration; (C) Exercise any power of, or engage in any activity permitted for, a mutual state bank; (D) Engage directly or indirectly only in such activities as are permissible activities for bank holding companies under applicable state and federal law or regulations; (E) Invest in the stock of a bank; (F) Exercise any rights, waive any rights, or take or waive any other action with respect to any securities of an...

... membership rights. (B) If the superintendent of financial institutions determines that the surplus held by a mutual holding company is excessive, the superintendent may order the board of directors of the mutual holding company to make the distribution described in division (A) of this section.

...ompany may be established either at the time of the initial mutual holding company reorganization or at a subsequent date. (B) In addition to its powers under Chapters 1107. and 1109. of the Revised Code, any subsidiary stock state bank or subsidiary holding company may, with the prior approval of the superintendent and subject to such rules as the superintendent may prescribe, issue one or more classes of securitie...

...r may, with the approval of the superintendent of financial institutions, convert to a stock holding company by submitting an application in accordance with rules adopted by the superintendent under section 1121.03 of the Revised Code.

...ity in which a bank or trust company is engaged, or has applied to engage in, to the extent that the regulator has jurisdiction over a bank or trust company engaged in that business activity. A bank or trust company is engaged in a business activity, and a regulator of that business activity has jurisdiction over the bank or trust company, whether the bank or trust company conducts the activity directly or a subsidia...

...al supervisor of state banks and trust companies. In that position the deputy superintendent for banks shall, notwithstanding sections 1121.10 and 1121.11 of the Revised Code, be responsible for conducting examinations and preparing examination reports under those sections. In addition, the deputy superintendent for banks shall, notwithstanding division (A) of section 1121.03 and sections 1121.05 and 1121.06 of the R...

...(A) The superintendent of financial institutions may adopt rules and standards to carry out the provisions of Chapters 1101. to 1127. of the Revised Code. No rule or standard adopted by the superintendent pursuant to this authority shall conflict with, abridge, or supersede any provision of the Revised Code unless the conflict, abridgement, or supersession is expressly authorized. The rules and standards shall be ado...

...shall be granted a reasonable period of time of not less than one year nor more than two years from the date the rule is revoked or lapsed, to bring its affected activities in compliance with the law. The superintendent may, upon the written request of a state bank or trust company, grant the bank or trust company a longer period of time in which to bring its affected activities in compliance with the law. (E) The s...

...shall be granted a reasonable period of time of not less than one year nor more than two years from the date the rule is revoked or lapsed, to bring its affected activities in compliance with the law. The superintendent may, upon the written request of a bank or trust company, grant the bank or trust company a longer period of time in which to bring its affected activities in compliance with the law.

...tuent parts and conduct them at various times. (E) The superintendent shall preserve the report of each examination, including related correspondence received and copies of related correspondence sent, for ten years after the examination date.

...itutions 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 bank and the examination of the bank is necessary to fully determine the risk to the bank or to determine how best to address the risk. (2) The superintendent pa...

...records and affairs of banks and trust companies over which they have concurrent jurisdiction; (b) Joint or concurrent examinations of the records and affairs of banks and trust companies over which they have concurrent jurisdiction; (c) Coordinated examinations of the records and affairs of banks and trust companies over which they have collective jurisdiction. (2) Conduct, participate in, or coordinate independe...

...oan holding company, but only to the extent explicitly permitted under this section. To examine the records and affairs of a person who, directly or indirectly, controls a bank that is a bank holding company registered with the federal reserve or a savings and loan holding company, the superintendent of financial institutions may do one of the following: (A) Rely on an examination of the bank holding company or savi...

...corporation that is not a bank holding company registered with the federal reserve or a savings and loan holding company, as its affairs relate to the bank.

...rms services for a state bank or trust company or a representative office, agency, or branch licensed under Chapter 1119. of the Revised Code, whether on or off the premises of the bank, trust company, representative office, agency, or branch, is subject to examination by the superintendent as to the books and records of the bank, trust company, representative office, agency, or branch in the person's possession, to ...