Section 1109.40 | Additional authority for loans and investments.
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Effective:
January 1, 1997
Legislation:
House Bill 538 - 121st General Assembly
(A) In addition to the other loan and investment authority provided for banks in Chapter 1109. of the Revised Code, but subject to all other provisions of the Revised Code, a bank may invest up to fifteen per cent of its total assets in loans or investments authorized by the bank's board of directors.
(B) If a loan or other investment is authorized under more than one section of Chapter 1109. of the Revised Code, a bank may designate under which section the loan or investment has been or will be 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.
Available Versions of this Section
- January 1, 1997 – House Bill 538 - 121st General Assembly [ View January 1, 1997 Version ]
- January 1, 2018 – Amended by House Bill 49 - 132nd General Assembly [ View January 1, 2018 Version ]