Section 1733.32 | Powers of Superintendent of Financial Institutions.
Effective: March 20, 2019 Latest Legislation: House Bill 489 – 132nd General Assembly (A)(1) The superintendent of financial institutions shall see that the laws relating to credit unions are executed and enforced. (2) The deputy superintendent for credit unions shall be the principal supervisor of credit unions. In that position, the deputy superintendent for credit […]
Section 1733.321 | Credit Unions Fund.
Effective: September 30, 2021 Latest Legislation: House Bill 110 – 134th General Assembly All fees, charges, and forfeitures collected under this chapter shall be paid to the superintendent of financial institutions, who shall deposit them into the state treasury to the credit of the credit unions fund, which is hereby established, and may be expended […]
Section 1733.251 | Alternative Interest Rate.
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 […]
Section 1733.252 | Compliance With Secure and Fair Enforcement for Mortgage Licensing Act.
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 […]
Section 1733.253 | Permissible Charges Under a Revolving Credit Agreement.
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 […]
Section 1733.27 | Fiscal Year.
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.
Section 1733.28 | Financial Statement.
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 […]
Section 1733.29 | Permanent Records.
Effective: September 11, 2008 Latest Legislation: Senate Bill 247 – 127th General Assembly (A) A credit union shall keep a permanent record including: (1) The original articles and regulations and amendments thereto and any amended articles or regulations and amendments thereto, all bearing the approval of the superintendent of credit unions, and the articles shall […]
Section 1733.291 | Preservation of Records – Retention Period – Disposal.
Effective: September 11, 2008 Latest Legislation: Senate Bill 247 – 127th General Assembly (A) Every credit union shall retain or preserve the following credit union records and supporting documents for only the following periods of time: (1) For one year: (a) Broker’s confirmations, invoices, and statements relating to security transactions of the credit union or […]
Section 1733.292 | Process for Retention of Documents – Approval – Use as Evidence.
Effective: September 11, 2008 Latest Legislation: Senate Bill 247 – 127th General Assembly (A) A credit union may, for any business purpose, retain a document, paper, or other instrument or record by use of a process to record, copy, photograph, or store a representation of the original document, paper, or other instrument or record, if […]