Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (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 […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (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 […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (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 […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly 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 […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly For its own governance, the board of directors may adopt bylaws not inconsistent with the law of this state, the articles of incorporation, or the code of regulations. Without limiting their generality, the bylaws may include provisions with respect to: (A) The […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A)(1) A state bank’s board of directors shall meet monthly unless the bank’s code of regulations provides for a different frequency of meetings, which shall not be less than quarterly. (2) Division (A)(1) of this section does not prohibit either of the […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Once elected or appointed, a director may be removed as follows: (1) By the board of directors or the superintendent of financial institutions if any of the following applies: (a) The director has filed for relief or is a debtor in […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (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 […]
