Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly A mutual state bank and the rights and liabilities of its members shall be governed by its articles of incorporation, code of regulations, and bylaws and by this chapter.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Five or more natural persons, at least one of whom is a resident of this state, may, with the approval of the superintendent of financial institutions, incorporate a mutual state bank. (B) The persons proposing to incorporate a mutual state bank […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Within ten days after receipt from the superintendent of financial institutions of notice of acceptance of an application for approval to incorporate a mutual state bank, the incorporators shall publish notice of the proposed incorporation in a newspaper of general circulation […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A mutual state bank’s articles of incorporation shall contain all of the following: (1) The name of the bank; (2) The place in this state where the bank’s principal place of business is to be located; (3) The purpose or purposes […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) As used in the section, “authorized capital” means the initial funding required to organize a mutual state bank. (B) The authorized capital of a mutual state bank shall be of such amount as the superintendent of financial institutions may determine based […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A mutual state bank organized under this chapter shall not accept deposits, incur indebtedness, or transact any business other than business that is incidental to its organization until the bank receives a certificate of authority to commence business issued by the […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) The superintendent of financial institutions shall issue a certificate of authority to commence business if both of the following conditions are met: (1) The superintendent is satisfied, based upon the examination conducted pursuant to section 1114.06 of the Revised Code and […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A depositor of a mutual state bank shall be a voting member and shall have such ownership interest in the bank as may be provided in the terms and conditions set forth in the articles of incorporation, code of regulations, and […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Before any member deposits have been received, the incorporators may, by unanimous written action and subject to the requirements of this section, adopt amendments to the mutual state bank’s articles of incorporation or amended articles of incorporation to change any provision […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly Each mutual state bank shall have a code of regulations for its governance as a corporation, the conduct of its affairs, and the management of its property. The code of regulations shall be consistent with the law of this state and the […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A)(1) The code of regulations of a mutual state bank may provide for the amendment of its articles of incorporation or code of regulations, or the adoption of amended articles of incorporation or code of regulations, at any meeting of the members […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Whenever members of a mutual state bank are required or authorized to elect directors or to take any other action at a meeting, either annual or special, notice of the meeting shall be given in either of the following ways: (1) […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly In the event of a liquidation or dissolution of a mutual state bank, the priority of claims shall be established by section 1125.24 of the Revised Code.
