Ohio Revised Code Search

...When the signatures of two authorized representatives of a state bank are required, as for a certificate for an amendment of the state bank's articles of incorporation or amended articles of incorporation pursuant to section 1113.12, 1113.13, or 1114.11 of the Revised Code or for certification of a conversion pursuant to section 1115.01 of the Revised Code, a consolidation or merger pursuant to section 1115.11 of the...

...(A) When any provision in Chapters 1101. to 1127. or Chapter 1701. of the Revised Code requires a document regarding an existing, previously existing, or proposed state bank to be filed with the secretary of state, all of the following apply: (1) The person responsible for producing the document shall deliver the document, properly completed, to the superintendent of financial institutions, along with payment for an...

...Whoever violates division (E)(1) of section 1103.07 of the Revised Code shall be subject to a civil penalty of up to ten thousand dollars for each day the violation is committed, repeated, or continued.

...(A) Except where the Revised Code, the articles of incorporation, or the code of regulations require action to be authorized or taken by shareholders or members, all of the authority of a state bank shall be exercised by or under the direction of the bank's board of directors. The board of directors shall consist of not less than five directors. (B) Unless the articles of incorporation or the code of regulations pro...

...(A)(1) Of the directors on the board of directors of a state bank: (a) A majority of the directors shall be outside directors. However, in the case of a stock state bank, if eighty per cent or more of any class of the bank's voting shares are owned by a company, a majority of the directors may be officers or directors of one or more affiliates of the bank. (b) For purposes of this section, anyone who is not an empl...

...(A) To qualify as a director, each person elected or appointed to the board of directors shall, within sixty days after election or appointment, take and subscribe an oath to diligently and honestly perform the duties of a director and to not knowingly violate or permit to be violated any federal banking law or any provision of Chapters 1101. to 1127. of the Revised Code. (B) Promptly upon execution, and within sixt...

...Each officer and employee of a state bank, prior to the discharge of the officer's or employee's duties, shall be covered by an individual, schedule, or blanket fidelity bond in favor of the bank, with terms and issuing insurer approved by the board of directors. The amount of the bond shall be set by the board of directors, and shall be reasonable given the size of the bank and nature of its business. The board of d...

...er of and authority for calling, giving notice of, and conducting meetings of the board of directors; (B) The appointment of committees of the board of directors, their authority, and the time, place, and manner of calling, giving notice of, and conducting their meetings.

... committee of the board of directors on loans, discounts, and investments made or authorized. The minutes of all committees of the board of directors shall be submitted to the board of directors for review at each meeting of the board of directors.

...isions (B) and (C) of this section, the requirement for a quorum set forth in section 1701.62 of the Revised Code applies to a state bank's board of directors.

...(A) A director, officer, employee, or other institution-affiliated party of a bank shall not be personally and individually liable for direct or indirect damages the bank, its shareholders or members, or any other person sustains in consequence of a violation of or failure to comply with any provision of Chapters 1101. to 1127. of the Revised Code or the rules adopted under those chapters, including any civil money p...

...No state bank shall operate without adequate capital as determined by the superintendent of financial institutions. In evaluating the adequacy of a state bank's capital, the superintendent may consider any of the following: (A) The nature and volume of the bank's business; (B) The amount, nature, quality, and liquidity of the bank's assets; (C) The amount and nature of the bank's liabilities, including those that ...

...(A) A state bank may issue debt securities at the times, in the amounts, and subject to the terms approved in writing by the superintendent of financial institutions. (B) In the case of a stock state bank, the terms of debt securities may include either of the following: (1) Options to subscribe to or purchase the bank's shares at not less than par value; (2) The right to convert the debt securities to the bank's ...

...All stock state bank shares shall have par value, whether they are common shares or preferred shares.

...(A) A stock state bank may, with the approval of the bank's board of directors, the holders of a majority of the bank's voting shares, and the superintendent of financial institutions, adopt and carry out plans for the offering or sale of, the grant of, or the grant of options on, the bank's shares to any or all employees, officers, or directors of the bank or any of the bank's subsidiaries or affiliates, or to other...

...o years after the date on which written notice or other communication of the transaction is mailed or otherwise given to the person entitled to bring the action. In no event shall any such action be brought later than four years after the cause of action accrued. (C) Pre-emptive rights with respect to shares issued by a stock state bank chartered on or after the effective date of this amendment shall be governed by ...

...With the prior written approval of the superintendent of financial institutions, a stock state bank may purchase its own shares in accordance with section 1701.35 of the Revised Code. (B) A stock state bank that acquires shares of its stock shall retire or dispose of the shares at the time and in the manner required by the superintendent.

...A stock state bank's board of directors may declare dividends and distributions on the bank's outstanding shares, subject to all of the following conditions: (A) Except as otherwise provided in division (B) of this section, payment of a dividend or distribution may only be funded from undivided profits or, subject to the approval of the superintendent of financial institutions, from a special reserve created from pr...

...(A) A state bank may use, exercise, and enjoy all of the powers, rights, and privileges of a corporation as set forth in section 1701.13 of the Revised Code, unless otherwise provided in its articles of incorporation and except as otherwise expressly limited by Chapters 1101. to 1127. of the Revised Code. The powers authorized under this division include the power to receive any property of any description, or any in...

...e the superintendent with prior written notice of the action and the basis for the action. The superintendent, within ninety days after receipt of that notice, may prohibit the bank from taking such action if the superintendent determines it would be unsafe or unsound for the bank.

...nd loan association by filing a written notice of that election with the superintendent of financial institutions. (C) Upon filing an election notice, a state bank shall be considered a savings and loan association if both of the following conditions are met: (1) Its qualified thrift investments equal or exceed sixty-five per cent of its portfolio assets. (2) Its qualified thrift investments continue to equal or e...

...e may become a member of a federal home loan bank and do all things necessary to maintain that membership in accordance with the "Federal Home Loan Bank Act of 1932," 47 Stat. 725, 12 U.S.C.A. 1421, as amended. A bank may purchase and hold stock in a federal home loan bank in excess of the amount required for membership, if that purchase and holding of stock is consistent with the financial condition of the bank and ...

..., provide electronically any statement, notice, or report required to be provided customers under this chapter. A customer's consent may be obtained electronically or in writing. (C) A bank customer may, with the bank's consent, provide electronically any notice required to be provided to the bank under this chapter. A bank's consent may be obtained electronically or in writing.

... deposit contract, a bank shall provide notice, in written or electronic form, of the change to each depositor with whom the bank has a deposit contract of the kind to be changed. Depositors and any other owners of interests in deposit accounts shall be bound by all changes banks make in their deposit contracts. (C) For each deposit account a bank shall, at minimum, do either of the following: (1) Periodically make...

...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-trustee's intent is to create a revocable trust for the benefit of the person for whom the account is designated. (b) One of t...