Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) No state bank may extend credit to any of its executive officers, directors, or principal shareholders, or to any of their related interests, except as authorized by this section and, with respect to executive officers, as authorized by section 1109.24 of […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Except as authorized by this section or section 1109.23 of the Revised Code, no state bank may extend credit in any manner to any of its own executive officers. No executive officer of a state bank may become indebted to that […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) No stock state bank shall lend money on the security of shares of its own stock or accept shares of its own stock in satisfaction of a debt, unless necessary to prevent loss on a debt previously contracted in good faith. […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A)(1) A state bank may own or hold for not more than five years any real estate it acquires by foreclosure, conveyance in lieu of foreclosure, or other legal proceedings relating to loan security interests or otherwise in satisfaction of a debt […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A state bank may purchase, acquire by lease, or otherwise invest in the real estate and interests in real estate the board of directors considers necessary or convenient for transaction of the bank’s business, including by ownership of an entity having […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A state bank may invest in any of the following: (1) Bonds, bills, notes, or other debt securities of the United States or for which the full faith and credit of the United States is pledged for payment of principal and […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly A state bank may apply to the superintendent of financial institutions for permission to invest, subject to the conditions and requirements prescribed by the superintendent, an amount, in the aggregate, not exceeding ten per cent of a stock state bank’s paid-in capital […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A state bank may invest in the securities of a domestic insurance company organized under Chapter 3907. or 3925. of the Revised Code, regulated by the superintendent of insurance under Title XXXIX of the Revised Code and engaged exclusively in the […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A)(1) As used in division (A) of this section: (a) “Venture capital firm” means any corporation, partnership, proprietorship, limited liability company, or other entity, the principal business of which is or will be the making of investments in small businesses. (b) “Small […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly To the extent permitted by and subject to any limitations and restrictions the superintendent of financial institutions may impose, a state bank may underwrite and deal in investments in the form of bonds, notes, debentures, or other debt securities that are any […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly In addition to the specific investments authorized in this chapter, a state bank may also invest, in the aggregate, no more than ten per cent of its assets in the common or preferred stock, obligations, or other securities of any corporations, as […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) In addition to the other loan and investment authority provided for banks in Chapter 1109. of the Revised Code, but subject to all other provisions of the Revised Code, a state bank may invest up to fifteen per cent of its […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) For purposes of this section: (1) “Bankers’ bank” means a bank organized to engage exclusively in providing services to other depository institutions and depository institution holding companies and their officers, directors, and employees. (2) “Bankers’ bank holding company” means a corporation […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A state bank may invest, in the aggregate, twenty-five per cent of its assets in the stock, obligations, and other securities of bank subsidiary corporations and bank service corporations. (B) A state bank shall obtain the approval of the superintendent of […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly Only for investments made under section 1109.44 of the Revised Code may a state bank invest in securities pursuant to section 1109.39 of the Revised Code or make investments pursuant to section 1109.40 of the Revised Code that result in any of […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly A state bank may invest in the shares of a clearing corporation as defined by section 1308.01 of the Revised Code.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Except as provided in division (B) of this section, a state bank shall not invest more than fifteen per cent of its capital in the shares, obligations, or other securities of any one issuer. (B) Division (A) of this section does […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly In exercising its investment authority, a state bank shall give equal consideration to investments that involve firms owned and controlled by minorities and firms owned and controlled by women, either alone or in joint venture with other firms, where the investments offer […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly A state bank investing in the securities of a bank or corporation pursuant to this chapter shall furnish information concerning the financial condition of the bank or corporation to the superintendent of financial institutions upon the superintendent’s demand.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly For purposes of this section and sections 1109.54, 1109.55, and 1109.56 of the Revised Code: (A)(1) “Affiliate” means any of the following: (a) A company that controls the state bank and any other company controlled by the company that controls the state […]
