Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (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 […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) In addition to exercising the powers and performing the acts authorized under Chapters 1101. to 1127. of the Revised Code, a state bank has and may exercise all powers and perform all acts attendant to the business of banking as set […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) As used in this section, “portfolio assets” and “qualified thrift investments” have the same meanings as in 12 U.S.C. 1467a, as amended. (B) A state bank may elect to operate as a savings and loan association by filing a written notice […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) No bank shall transact business in this state unless its deposit accounts are insured by the federal deposit insurance corporation, except a bank that by the terms of its articles of incorporation or articles of association is not permitted to solicit […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A bank may, in good faith, rely: (1) On any and all information, agreements, documents, and signatures provided by its customers as being true, accurate, complete, and authentic and representing what they purport to represent; and (2) That the persons signing […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A bank may receive money on deposit and may establish the terms and conditions of each deposit contract. A bank may receive demand deposits subject to withdrawal or to payment upon the depositor’s check, order, or other authorization. (B) At the […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) Whenever a depositor opens or modifies the ownership of a deposit account by designating on the signature card the deposit is in trust for another, and no further notice of the existence and terms of a legal and valid trust is […]
Effective: August 29, 2000 Latest Legislation: House Bill 313 – 123rd General Assembly (A) When a deposit is made in the name of two or more persons, payable to either or the survivor, the bank may pay all of the deposit, any part of the deposit, or any interest earned on the deposit, to either […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A bank may provide safes, vaults, safe deposit boxes, night depositories, and other secure receptacles for the uses, purposes, and benefits of its customers, on the terms and conditions the bank prescribes. (B) A bank may, on the terms and conditions […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) A bank may do any of the following: (1) Accept deposits made by or on behalf of any minor and open an account however payable in the name of one or more persons, one or more or all of whom are […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly If any claim not clearly consistent with the terms of any applicable authority on file with a bank is made to any deposit, safe deposit box, property held in safekeeping, security, obligation, or other property in the bank’s possession or control, in […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly All deposits of money, or its equivalent, made with a bank shall be entered on its books only in terms of money of the United States.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A)(1) Subject to the restrictions and limitations of the Revised Code, a state bank may do any of the following: (a) Loan money, with or without security, and payable on demand, at maturity, in installments, or by any combination of these; (b) […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly Unless otherwise expressly agreed to in writing by the bank, the relationship between a bank and its obligor, or a bank and its customer, creates no fiduciary or other relationship between the parties or any special duty on the part of the […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) The superintendent of financial institutions shall adopt rules prescribing standards for extensions of credit that are either of the following: (1) Secured by liens on interests in real estate; (2) Made for the purpose of financing the construction of either a […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A)(1) A state bank may accept drafts or bills of exchange drawn on it and may purchase acceptances of drafts or bills of exchange issued by other banks and participations in acceptances of drafts or bills of exchange issued by other banks, […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) A bank may extend credit to a customer pursuant to a revolving credit agreement allowing the customer to access the credit from time to time, subject to a limitation on the outstanding balance of the credit accessed and without regard to […]
Effective: September 4, 2012 Latest Legislation: House Bill 322 – 129th General Assembly (A) As used in this section: (1) “Revolving credit agreement” means an agreement pursuant to which a bank contemplates repeated transactions and the amount of credit that may be extended pursuant to the agreement is made available to the extent that any […]
Effective: March 20, 2019 Latest Legislation: House Bill 489 – 132nd General Assembly (A) A bank may contract for and receive interest or finance charges at any rate or rates agreed upon or consented to by the parties to the loan contract, extension of credit, or revolving credit agreement, but not exceeding an annual percentage […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) As used in this section: (1) “Derivative transaction” includes any transaction that is a contract, agreement, swap, warrant, note, or option that is based, in whole or in part, on the value of, any interest in, or any quantitative measure or […]
