Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly As used in this chapter, unless the context otherwise requires: (A) “Foreign bank” means any company, or any subsidiary or affiliate of a company, organized under the laws of a foreign country, a territory of the United States, Puerto Rico, Guam, American […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) No foreign bank shall conduct any operations in this state connected to its banking business, unless it has a license issued by the superintendent of financial institutions under this chapter or by the office of the comptroller of the currency. Any […]
Effective: October 9, 2021 Latest Legislation: House Bill 263 – 133rd General Assembly (A)(1) For each representative office a foreign bank proposes to operate, the foreign bank shall first submit to the superintendent of financial institutions an application for preliminary approval of the representative office. The superintendent shall approve or disapprove the application within sixty […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) A foreign bank licensed to operate a representative office shall not conduct any banking business through the licensed representative office, including any of the following activities: (1) Soliciting, receiving, or accepting deposits, either directly or as agent for subsequent deposit at […]
Effective: October 9, 2021 Latest Legislation: House Bill 263 – 133rd General Assembly (A)(1) For each agency or branch a foreign bank proposes to operate, the foreign bank shall first submit to the superintendent of financial institutions an application for preliminary approval of the agency or branch. The superintendent shall determine whether to approve or […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) To be licensed to operate an agency or branch in this state, a foreign bank shall pledge assets to the superintendent of financial institutions, of the kinds, in an amount, and in the manner prescribed by the superintendent, by placing the […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) Subject to conditions and requirements the superintendent of financial institutions may prescribe, to be licensed to operate an agency or branch in this state, a foreign bank shall maintain assets in this state of the kinds and in the amount prescribed […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) When a foreign bank engages in an activity or undertakes an action through an agency or branch licensed under this chapter, the foreign bank is subject to the same limitations on and requirements of engaging in the activity or taking the […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly No foreign bank licensed under this chapter to operate a representative office or an agency shall use the term “branch” to identify that representative office or agency. A foreign bank may use the term “branch” in a description of a representative office […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) No license issued to a foreign bank under this chapter is transferable or assignable. (B) When a foreign bank licensed under this chapter is to be a constituent in a reorganization in which the foreign bank will not be the resulting […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A)(1) Except as provided in division (A)(2) of this section, each foreign bank licensed to operate a representative office, agency, or branch in this state shall do all of the following: (a) Maintain in this state all of each licensed representative office’s, […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Each foreign bank licensed under this chapter shall file with the superintendent of financial institutions any reports the superintendent may prescribe in the form and manner and containing the information the superintendent prescribes. (B) When the superintendent requires banks and trust […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly When the laws of this state require an action by or regarding a foreign bank or a representative office, agency, or branch of a foreign bank licensed under this chapter to be approved or taken by the board of directors, the action […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) In addition to the specific powers, remedies, and sanctions provided in this chapter, any foreign bank licensed to operate a representative office, agency, or branch in this state and any foreign bank conducting operations in this state connected to its banking […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A)(1) If the superintendent of financial institutions determines, after notice and an opportunity for hearing in accordance with sections 1121.37 and 1121.38 of the Revised Code, any of the following conditions exists, the superintendent may revoke any license the foreign bank has […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) If the superintendent of financial institutions determines, in accordance with division (A) of section 1119.22 of the Revised Code, any of the conditions set forth in that division exists, the superintendent, in addition to having the authority to revoke the foreign […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly The creditors of a foreign bank’s licensed agencies or branches in this state shall be entitled to priority over other creditors of the foreign bank with respect to any claims against the assets of the foreign bank’s business in this state.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A foreign bank may voluntarily liquidate and surrender its license to operate a representative office, agency, or branch licensed under this chapter only with the consent of the superintendent of financial institutions. (B) Prior to beginning any liquidation process, the foreign […]
