Section 1115.06 | Notifying Superintendent of Proposed Acquisition.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) As used in this section: (1) “Control” of a state bank means either of the following: (a) Power, directly or indirectly, to direct the management or policies of a state bank; (b) Ownership or control of or power to vote twenty-five […]
Section 1115.07 | Report of Outstanding Credit.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) As used in this section: (1) “Credit outstanding” means any loan, extension of credit, issuance of a guarantee, acceptance, or letter of credit, including an endorsement or standby letter of credit, or other transaction that extends financing to a person or […]
Section 1115.11 | State Bank Consolidations or Mergers.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A state bank may consolidate or merge with another state bank, a bank, savings bank, or savings association doing business under authority granted by the bank regulatory authority of another state, a national bank, or a federal savings association, regardless of […]
Section 1115.111 | Management or Consulting Fees.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Except as provided in division (C) of this section, no bank shall pay to any person, other than reasonable compensation for services provided in the person’s capacity as an employee, any management or consulting fee, including fees for legal, accounting, brokerage, […]