Ohio Revised Code Search

... a document presented under a letter of credit to the extent that the issuer or nominated person honors or gives value for the presentation. (B) So long as and to the extent that an issuer or nominated person has not been reimbursed or has not otherwise recovered the value given with respect to a security interest in a document under division (A) of this section, the security interest continues and is subject to Cha...

...(A) As used in this section: (1) "Contract of indebtedness" means a note, bond, mortgage, conditional sale contract, retail installment contract, lease, security agreement, or other written evidence of indebtedness, other than indebtedness incurred for purposes that are primarily personal, family, or household. (2) "Commitment to pay attorneys' fees" means an obligation to pay attorneys' fees that arises in c...

...No husband or wife shall create any lien by chattel mortgage or otherwise upon any personal household property owned by either or both of them, without the joint consent of both husband and wife. No such mortgage is valid unless executed by both husband and wife. This section does not apply to any mortgage or lien for the purchase price of such property.

...As used in sections 1319.07 to 1319.09 of the Revised Code: (A) "Nonrecourse carveout" means a specific exemption, if any, to the nonrecourse provisions set forth in the loan documents for a nonrecourse loan that has the effect of creating, if specified events occur, personal liability of the borrower or guarantor or other surety of the loan for all or some amounts owed to the lender. (B) "Nonrecourse loan" ...

...(A) A postclosing solvency covenant shall not be used, directly or indirectly, as a nonrecourse carveout or as the basis for any claim or action against a borrower or any guarantor or other surety on a nonrecourse loan. (B) A provision in the documents for a nonrecourse loan that does not comply with division (A) of this section is invalid and unenforceable.

...Section 1319.08 of the Revised Code does not prohibit a loan that is secured by a mortgage on real property located in this state from being fully recourse to the borrower or guarantor, including, but not limited to, as a result of a postclosing solvency covenant, if the loan documents for that loan do not contain nonrecourse loan provisions.

...(A) Two or more creditors of a debtor or co-debtors may join their respective claims together for the purpose of commencing litigation against the debtor or co-debtors. (B) If a debtor or co-debtor raises a good faith dispute concerning any accounts, bills, or other evidences of indebtedness that have been joined together for litigation pursuant to this section, the court shall separate the disputed account, bill, ...

...ngs and loan association, savings bank, credit union, or fiduciary as defined in section 5815.04 of the Revised Code, except those that own or operate a collection agency; (b) Any real estate broker or real estate salesperson, as defined in section 4735.01 of the Revised Code; (c) Any retail seller collecting its own accounts; (d) Any insurance company authorized to do business in this state under Title XXXIX of t...

...(A) If a collection agency has been designated to collect on a check, negotiable order of withdrawal, share draft, or other negotiable instrument that has been returned or dishonored for any reason, the collection agency may charge and receive check collection charges of not more than thirty dollars or ten per cent of the face amount of the instrument, whichever is greater, and may charge and receive any charge impos...

...or indirectly by the issuer of a credit card or similar device; (d) Any report in which a person that has been requested by a third party to make a specific extension of credit directly or indirectly to the subject conveys its decision with respect to that request. (3) "Commercial credit reporting agency" means any person or entity that regularly engages in the practice of compiling and maintaining commercial cre...

...s the context otherwise requires: (A) "Credit union" means a corporation organized and qualified as such under this chapter. In addition to the powers enumerated in this chapter and unless restricted in this chapter, every credit union has the general powers conferred upon corporations by Chapter 1701. of the Revised Code. A credit union is a nonprofit cooperative financial institution and as such is organized and o...

...33. of the Revised Code: (A) To enable credit unions to be formed for the purpose of promoting thrift among their members and, to that end, to establish, on a cooperative basis, facilities for savings, credit for provident and productive uses, assistance to members in budgeting and money management and the effective use of their assets and resources, and all activities necessary or incidental thereto; (B) To delega...

...The purpose for which a credit union may be formed is to promote thrift among its members, and to that end to establish, on a cooperative basis, facilities for savings, credit for provident and productive purposes, assistance to members in budgeting and money management and the effective use of their assets and resources, and all activities necessary or incidental thereto.

...de, and its articles and regulations, a credit union may do any of the following: (1) Make loans as provided in section 1733.25 of the Revised Code; (2) Invest its money as provided in section 1733.30 of the Revised Code; (3) If authorized by the code of regulations, rebate to the borrowing members a portion of the member's interest paid to the credit union; (4) If authorized by the regulations, charge a ...

...Each credit union operating under this chapter or otherwise authorized to do business in this state shall obtain insurance for the protection of their members' accounts. Such share guarantee insurance may be obtained from the national credit union administration operating under the "Federal Credit Union Act," 84 Stat. 994 (1970), 12 U.S.C. 1751, and any amendments thereto, or from a credit union share guaranty corpo...

... of doing business in this state, every credit union with members' accounts insured by a credit union share guaranty corporation licensed pursuant to Chapter 1761. of the Revised Code shall post a notice at all public entrances at its place of business and at each of its service facilities. The notice shall be not less than eight and one-half inches by eleven inches and shall include all of the following in not less ...

...therwise qualifying for membership in a credit union under this section, the articles, and the regulations, and who are elected to membership by the board of directors, shall become members of a credit union, provided that in lieu of electing persons to membership, the board of directors may elect or appoint one or more membership officers and delegate authority to any such membership officer to accept persons into m...

...A) The senior management officials of a credit union may terminate the membership of, or some or all services to, a member of the credit union, if the member does any of the following: (1) Causes a loss to the credit union; (2) Commits fraud or any similar misdeed against the credit union or against any person on the premises of the credit union; (3) Engages in inappropriate behavior involving another person, s...

...Every credit union shall have and maintain a statutory agent upon whom any process, notice, or demand required or permitted by statute to be served upon a credit union may be served. The agent shall be one of the following: (A) A natural person who is a resident of this state; (B) A domestic or foreign corporation, nonprofit corporation, limited liability company, partnership, limited partnership, limited lia...

... are residents of the state, may form a credit union by: (A) Executing articles of incorporation. (1) The articles shall set forth: (a) The name, which shall include the words "credit union" and shall not be so similar to the name of an existing credit union as to be likely to mislead the public; (b) The place in this state where the principal office of the credit union is to be located; (c) The purpose, which s...

...les and other documents relating to the credit union have been submitted to the secretary of state, the secretary of state shall accept the articles and other documents for filing and record the same by microfilm or by any authorized photostatic or digitized process. Evidence of the filing shall be returned to the credit union. (B) The legal existence of the credit union shall begin upon the filing of the articles w...

...shall have subscribed for shares of the credit union in an aggregate amount of at least two hundred fifty dollars, the incorporators, or a majority of them, shall give notice of the first meeting of the applicants for membership to each such applicant. (B) At any meeting of applicants a majority of the applicants for membership shall constitute a quorum; and the applicants, at any such meeting at which a quorum is p...

...ns. (C) Each director and officer of a credit union shall, when appointed or elected, take an oath that he will, so far as the duty devolves upon him, diligently and honestly administer the affairs of the credit union, and will not knowingly violate, or willingly permit to be violated, any law applicable to such credit union. Such oath shall be subscribed by the person making it, and certified by an officer authoriz...

...with or entered upon the records of the credit union. Any certificate with respect to the authorization or taking of any such action, which is required to be filed in the office of the superintendent of credit unions or the secretary of state, shall recite that the authorization or taking of such action was in a writing or writings approved and signed as specified in this section.

...al meeting unless the superintendent of credit unions has consented to some later date. (B) Meetings of members shall be called and conducted in the manner and at the time and place stated in the regulations.