Effective: March 20, 2019 Latest Legislation: House Bill 489 – 132nd General Assembly Unless otherwise provided in the articles, regulations, or bylaws, and subject to the exceptions applicable during an emergency, as that term is defined in section 1733.01 of the Revised Code: (A) Meetings of the directors may be called by the chairperson, vice-chairperson, […]
Effective: November 19, 1971 Latest Legislation: Senate Bill 3 – 109th General Assembly Except for regulations applicable during an emergency, as that term is defined in section 1733.01 of the Revised Code, and except that the articles or regulations may require a greater number, a majority of the entire authorized number of directors is necessary […]
Effective: September 29, 1994 Latest Legislation: House Bill 695 – 120th General Assembly (A) The office of a director becomes vacant if he dies or resigns. Any resignation takes effect immediately or at such other time as the director specifies in a written resignation. (B) The directors shall remove any director and thereby create a […]
Effective: July 14, 1987 Latest Legislation: Senate Bill 149 – 117th General Assembly (A)(1) Whenever, in the opinion of the superintendent of credit unions, any director, officer, committee member, employee, agent, or other person participating in the conduct of the affairs of a credit union has committed any violation of law or rule, or of […]
Effective: March 20, 2019 Latest Legislation: House Bill 489 – 132nd General Assembly (A) The regulations may provide for the creation by the directors of an executive committee consisting of not less than three directors, and may authorize the delegation to any such committee of any of the authority of directors other than any action […]
Effective: July 14, 1987 Latest Legislation: Senate Bill 149 – 117th General Assembly (A) A credit union shall notify the superintendent of credit unions, on a form prescribed by the superintendent, within ten days after the retainment, of the name, address, and telephone number of each outside auditor who is retained by the credit union, […]
Effective: September 29, 1994 Latest Legislation: House Bill 695 – 120th General Assembly (A) The officers of the credit union shall consist of a president, a secretary, a treasurer, and, if desired, a chairman of the board, a vice chairman of the board, one or more vice-presidents, and such other officers and assistant officers as […]
Effective: November 19, 1971 Latest Legislation: Senate Bill 3 – 109th General Assembly The act of any individual as a duly elected or appointed officer, director, or committeeman shall be binding upon the credit union although such person is not of legal age.
Effective: March 20, 2019 Latest Legislation: House Bill 489 – 132nd General Assembly (A) A credit union may provide, at its expense, a director or committee member reasonable health, accident, and related types of personal insurance protection. A director or committee member is entitled, subject to rules adopted under section 1733.411 of the Revised Code […]
Effective: January 1, 1979 Latest Legislation: House Bill 356 – 112th General Assembly The treasurer and all employees of every credit union who are responsible for administering and safekeeping the funds of the credit union, before entering upon the discharge of their duties, shall be covered by an individual, schedule, or blanket fidelity bond in […]
Effective: March 31, 2021 Latest Legislation: House Bill 405 – 133rd General Assembly (A) A credit union is authorized to receive funds for deposit in share accounts, share draft accounts, and share certificates from its members, from other credit unions, and from an officer, employee, or agent of the federal, state, or local governments, or […]
Effective: September 11, 2008 Latest Legislation: Senate Bill 247 – 127th General Assembly (A) When a share, share account, or deposit is made in the name of two or more persons, payable to either or the survivor, the credit union may pay all of the share, share account, deposit, any part of the share, share […]
Effective: September 11, 2008 Latest Legislation: Senate Bill 247 – 127th General Assembly (A) On the terms and conditions the credit union prescribes, a credit union may do all of the following: (1) Provide safes, vaults, safe deposit boxes, night depositories, and other secure receptacles for the uses, purposes, and benefits of its members; (2) […]
Effective: September 11, 2008 Latest Legislation: Senate Bill 247 – 127th General Assembly If any claim is made to any share, share account, deposit, safe deposit box, property held in safekeeping, security, obligation, or other property in the credit union’s possession or control, in whole or in part, by any person, including any member, depositor, […]
Effective: September 1, 2008 Latest Legislation: House Bill 545 – 127th General Assembly (A) A credit union may make loans or other extensions of credit to members for provident and productive purposes as authorized by law, including rules adopted by the superintendent of credit unions; the articles; and the regulations; and subject to policies adopted […]
Effective: April 14, 2006 Latest Legislation: House Bill 81 – 126th General Assembly (A) As an alternative to the interest permitted in division (C) of section 1733.25 of the Revised Code, a credit union may contract for and receive interest at any rate or rates agreed upon or consented to by the parties to the […]
Effective: December 28, 2009 Latest Legislation: Senate Bill 124 – 128th General Assembly (A) As used in this section, “nationwide mortgage licensing system and registry” has the same meaning as in section 1322.01 of the Revised Code. (B) Subject to division (C) of this section, each credit union, the subsidiaries of the credit union, and […]
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 credit union contemplates repeated transactions and the amount of credit that may be extended pursuant to the agreement is made available to the extent that […]
Effective: June 26, 1986 Latest Legislation: House Bill 559 – 116th General Assembly The accounting of all credit unions shall be on a calendar year basis unless otherwise authorized by the superintendent of credit unions.
Effective: June 26, 1986 Latest Legislation: House Bill 559 – 116th General Assembly (A) At the annual meeting of members, or the meeting held in lieu thereof, every credit union shall present to its members a financial statement consisting of a balance sheet and a profit and loss statement in such form, and containing such […]
