Section 1109.55 | Permitted Transactions With Affiliate.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A state bank and its subsidiaries may engage in any of the transactions described in division (B) of this section only if one of the following applies: (1) The transaction is on terms and under circumstances, including credit standards, that are […]
Section 1109.56 | Rules for Transactions With Affiliates.
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly Pursuant to the authority of section 1121.03 of the Revised Code, the superintendent of financial institutions may adopt rules to administer and carry out the purposes of sections 1109.53, 1109.54, and 1109.55 of the Revised Code, including rules that do any of […]
Section 1109.59 | Authority to Borrow.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly A state bank may borrow money in any sum consistent with safety and soundness. Borrowing by means of the issuance of debt securities is subject to the approval of the superintendent of financial institutions in accordance with section 1107.05 of the Revised […]
Section 1109.441 | Additional Investment Authority.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly Only for investments made under section 1109.44 of the Revised Code may a state bank invest in securities pursuant to section 1109.39 of the Revised Code or make investments pursuant to section 1109.40 of the Revised Code that result in any of […]
Section 1109.45 | Investing in Clearing Corporation.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly A state bank may invest in the shares of a clearing corporation as defined by section 1308.01 of the Revised Code.
Section 1109.47 | Limiting Investing in One Issuer.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Except as provided in division (B) of this section, a state bank shall not invest more than fifteen per cent of its capital in the shares, obligations, or other securities of any one issuer. (B) Division (A) of this section does […]
Section 1109.48 | Investing in Firms Owned and Controlled by Minorities or Women.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly In exercising its investment authority, a state bank shall give equal consideration to investments that involve firms owned and controlled by minorities and firms owned and controlled by women, either alone or in joint venture with other firms, where the investments offer […]
Section 1109.49 | Furnishing Financial Information to Superintendent.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly A state bank investing in the securities of a bank or corporation pursuant to this chapter shall furnish information concerning the financial condition of the bank or corporation to the superintendent of financial institutions upon the superintendent’s demand.
Section 1109.53 | Transactions With Affiliates Definitions.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly For purposes of this section and sections 1109.54, 1109.55, and 1109.56 of the Revised Code: (A)(1) “Affiliate” means any of the following: (a) A company that controls the state bank and any other company controlled by the company that controls the state […]
Section 1109.31 | Real Estate Investments.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A state bank may purchase, acquire by lease, or otherwise invest in the real estate and interests in real estate the board of directors considers necessary or convenient for transaction of the bank’s business, including by ownership of an entity having […]