Ohio Revised Code Search

... without limitation, the appointment of officers or directors who are family members; (13) Receive reasonable compensation for its services. (B) After full disclosure to the governing body of the family trust company is provided, nothing in this section prohibits a family trust company from entering into a transaction with or investing in any asset of any of the following: (1) A trust, estate, guardianship, or con...

...ividuals who will serve as directors or officers of the corporation, or the managers or family members acting in a managerial capacity for the limited liability company, as applicable: (a)¿Have a reputation for honesty, trustworthiness, and integrity and display competence to transact the business of a licensed family trust company; (b)¿Have not been convicted of, or pleaded guilty or nolo contendere to, a felony o...

...ust company, other than the election of officers, the taking and approving of their official bonds, the receipts of payment upon stock subscriptions, and other business incidental to its organization.

...(A) Any licensed family trust company is subject to all powers of, and remedies and sanctions available to, the superintendent of financial institutions and the division of financial institutions under Chapters 1101. to 1127. of the Revised Code, in addition to the specific powers, remedies, and sanctions provided for in this chapter. (B)(1) With regard to a licensed family trust company, "regulated person," as us...

...(A) Not later than eighteen months after a licensed family trust company receives its initial license under this chapter, and as often thereafter as the superintendent of financial institutions considers necessary, but at least once each thirty-six-month cycle, the superintendent, or any deputy or examiner appointed by the superintendent for that purpose, shall thoroughly examine the records and affairs of the licens...

...(A)¿The superintendent of financial institutions may revoke a license issued under this chapter if, after notice and an opportunity for hearing in accordance with Chapter 119. of the Revised Code (which hearing shall not be open to the public), the superintendent finds either of the following: (1) An officer or director of, or any manager or family member acting in a managerial capacity for, the licensed family trus...

...integrity of the proposed directors and officers are such as to command the confidence of the community and warrant the belief that the business of the proposed bank will be honestly and efficiently conducted. (5) The capital of the proposed bank is adequate in relation to the amount and character of the anticipated business of the bank and the safety of prospective depositors. (D) Within one hundred eighty days fo...

..., the incorporators, the directors, the officers, the shareholders, or the holders of any class of shares, and any provision that may be set forth in the bank's code of regulations.

...(A) Prior to each annual meeting of its shareholders, each stock state bank shall make basic financial information available to its shareholders in accordance with this section unless the bank is either of the following: (1) Subject to the registration requirements of section 12 of the "Securities Exchange Act of 1934," 48 Stat. 892, 15 U.S.C.A. 78l, as amended. (2) Wholly owned, except for directors' qualifying sh...

...integrity of the proposed directors and officers are such as to command the confidence of the community and warrant the belief that the business of the proposed bank will be honestly and efficiently conducted. (4) The capital of the proposed bank is adequate in relation to the amount and character of the anticipated business of the bank and the safety of prospective depositors. (D) Within one hundred eighty days fo...

..., the incorporators, the directors, the officers, the members, and any provision that may be set forth in the bank's code of regulations.

...d in and the names and addresses of its officers, its code of regulations, and its bylaws have been filed with and approved by the superintendent. (D) Five years after the mutual state bank commences business, any remaining balance in the expense fund shall be transferred to retained earnings, if the bank is on a profitable operating basis as determined by the superintendent.

..., a proxy granted by a depositor to the officers and directors of a mutual state bank shall expire on the date specified in the proxy. If no date is so specified, the authority granted by the proxy shall be perpetual. (2) On and after the effective date of this section , the writing or verifiable communication appointing a proxy shall be separate and distinct from any deposit agreement, loan agreement, or any other ...

...hat, if a member granted a proxy to the officers and directors of the bank, the proxy is revocable at any time before the meeting or by attending the meeting and voting in person.

...s a state bank, the directors and other officers named in the agreement of consolidation or merger shall serve until the date fixed in the agreement or provided in the resulting or surviving bank's code of regulations or by statute for the next annual meeting. (H)(1) When a consolidation or merger becomes effective, both of the following apply: (1) The existence of each of the constituent corporations ceases as a ...

... of state. (G) The directors and other officers named in the agreement of merger shall serve until the date fixed in the agreement or provided in the surviving bank's code of regulations or by statute for the next annual meeting. (H) When a merger authorized by division (A) of this section becomes effective, the existence of each of the constituent corporations ceases as a separate entity, but continues in the surv...

... includes all of the following: (a) An officers' certification that the reorganization plan has been approved by the directors and members in accordance with applicable state law, articles of incorporation, code of regulations, or bylaws; (b) A copy of the reorganization plan; (c) Any other information the superintendent requires.

...As used in this chapter, unless the context otherwise requires: (A) "Foreign bank" means any company, or any subsidiary or affiliate of a company, organized under the laws of a foreign country, a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands, that engages in the business of banking. "Foreign bank" includes, without limitation, a foreign commercial bank, foreign merchant ba...

...(A) In addition to the specific powers, remedies, and sanctions provided in this chapter, any foreign bank licensed to operate a representative office, agency, or branch in this state and any foreign bank conducting operations in this state connected to its banking business without being licensed under this chapter or by the office of the comptroller of the currency is subject to all powers, remedies, and sanctions p...

...nts or contracts; (5) Employ qualified officers or employees, who may be subject to approval by the superintendent; (6) Take any other action the superintendent determines appropriate. (E) A cease and desist order issued by the superintendent is effective at the time specified in the order, which shall be as follows: (1) In the case of a cease and desist order issued pursuant to division (C)(2) of this section, n...

...(A) The superintendent of financial institutions may assess civil penalties against a bank, trust company, or, in relation to matters concerning a state bank, foreign bank, or trust company, a regulated person for each day a violation, unsafe or unsound practice, or breach continues as follows: (1) The superintendent may assess a civil penalty of not more than five thousand dollars per day if the bank, trust company...

...(A) The banking commission shall hold regular meetings at the times and places it fixes, and shall meet at any time on call of the deputy superintendent for banks upon two days' notice unless the commission by resolution provides for a shorter notice. (B) A majority of the full commission constitutes a quorum, and action taken by a majority of those present at a meeting at which there is a quorum constitutes the act...

...bank, and, for that purpose, may retain officers or employees of the bank as needed. (D) The superintendent may terminate the conservatorship at any time, and may appoint a receiver for liquidation of the bank on any of the grounds provided in this chapter for appointment of a receiver. (E) All expenses of a conservatorship shall be paid out of the assets of the bank, and shall be a lien on the bank's assets, which...

...e or incurred, nor shall the directors, officers, or agents of the bank thereafter have authority to act on behalf of the bank or to convey, transfer, assign, pledge, mortgage, or encumber any of the bank's assets. (B) The filing of the certificate of appointment in accordance with this section shall not be a condition to either the superintendent's taking possession of the property and business of a state bank or a...

...he rights, powers, and authority of the officers and directors of the bank and all voting rights of its shareholders or members; (3) To collect all debts, claims, and judgments belonging to the bank and to take any other action, including the lending of money, necessary to the operation of the bank during the conservatorship; (4) To execute in the name of the bank any instrument necessary or proper to effectuate th...