Ohio Administrative Code

19.03 PDF: (A) Definitions(1) The term "group" for the purposes of this rule means a "select group" as described in division (D)(1) of section 1733.05 of the Revised Code; however, for the purpose of a vote to disaffiliate group membership, the term "group" does not include a mem…

19.03 PDF: In addition to the requirements set forth in sections 1733.041, 1733.07, 1733.23 and 1733.47 of the Revised Code the incorporators shall submit to the superintendent along with the articles of incorporation and the code of regulations of the proposed credit union:Evide…

19.03 PDF: (A) No credit union shall loan, directly or indirectly, to any member or other credit union more than ten per cent of its shares and undivided earnings. Fully share secured loans are exempt from the ten per cent limitation. A credit union may request in writing a waive…

19.03 PDF: (A) For purposes of this rule, "first-lien residential real estate loan" has the same meaning as in 12 C.F.R. 702.2, as in effect on November 1, 2023. (B) For purposes of this rule, a "non-conforming loan" means a loan which the credit union knows or has a reasonable b…

19.03 PDF: (A) "Construction loans" are loans made for the purpose of building on vacant land or construction additions to existing structures. Because the incomplete structure and the land represent the security for the loan, funds are disbursed in installments as work progresse…

19.03 PDF: (A) A "home equity loan or a second mortgage loan" is a loan secured by the equity in a dwelling, and is made for a purpose other than the purchase or refinancing of the dwelling, regardless of the lien priority. A home equity loan may be one with lines of equity credi…

19.03 PDF: (A) A "member business loan" is defined as any loan, line of credit or letter of credit which will be used for commercial, corporate, business, investment property or venture, or agricultural purpose. Exceptions to this definition are:(1) Loans fully secured by a lien …

19.03 PDF: (A) As used in this rule:(1) "Fixed assets" means any premises, furniture, fixtures, and equipment.(2) "Furniture, fixtures, and equipment" include all office furnishings, office machines, computer hardware and software, automated terminals, heating and cooling equipme…

19.03 PDF: A credit union may, by resolution of the board of directors, assess reasonable fees or service charges if such charges or fees are disclosed to the membership prior to assessment. Last updated July 8, 2024 at 8:57 AM Authorized By: 1733.41 Amplifies: 1733.04 Five Year …

19.03 PDF: The board of directors may authorize the payment of an interest rebate on loan accounts, upon reasonable terms, if:(A) The board of directors authorizes the method of computation, payment and qualifications for participation in such rebate; and(B) Any rebate of interes…

19.03 PDF: A credit union may enter a credit card lending program if, prior to entering, the credit union files with the superintendent: (A) certification by the board of directors that the implementation of a credit card lending program will not negatively affect the operations …

19.03 PDF: (A) A credit union may offer joint membership shares under the following circumstances:(1) The credit union complies with its membership requirements; (2) The credit union discloses to the joint owners the requirements and benefits of joint ownership in a membership sh…

19.03 PDF: (A) Credit unions may act as a representative of and enter into a contractual agreement with one or more credit unions or other organizations for the purpose of sharing, utilizing, renting, leasing, purchasing, selling, and/or jointly owning fixed assets, or engaging i…

19.03 PDF: (A) A "Credit Union Service Organization" (CUSO) means any entity in which a credit union has an ownership interest or to which a credit union has extended a loan, and that entity is engaged primarily in providing products or services to credit unions or credit union m…

19.03 PDF: Credit unions may enter into a valid sale and leaseback arrangement, which is consistent with safe and sound practices, subject to the prior written approval of the superintendent. Last updated June 17, 2024 at 10:30 AM Authorized By: 1733.41 Amplifies: 1733.02, 1733.0…

19.03 PDF: Credit unions shall report annually to the superintendent listing other real estate owned pursuant to division (C)(2) of section 1733.04 of the Revised Code. The report shall include the date the property was acquired, address of the property, amount of the purchase or…

19.03 PDF: Upon adoption of a resolution by the credit union's board of directors to present a proposal of dissolution to the members, the resolution and a request to file a certificate of dissolution shall be sent to the superintendent for approval a minimum of ten business days…

19.03 PDF: (A) All credit unions shall report any crime or suspected crime that occurs at its office(s), on the "Suspicious Activity Report" (SAR) form provided by the "Financial Crimes Enforcement Network" (FinCEN), within thirty calendar days after discovery of a suspicious act…

19.03 PDF: (A) As soon as practicable after taking possession, the liquidating agent shall inventory the assets of such credit union as of the date of taking possession. The inventory shall show the value of the assets carried on the books of the credit union, and the security th…

19.03 PDF: (A) Any conversion of a state chartered credit union to a federally chartered credit union or a federally chartered credit union to a state chartered credit union is subject to the approval of the superintendent.(B) A state chartered credit union seeking to convert to …

19.03 PDF: A credit union may act as a trustee or custodian, for which reasonable compensation may be received, under any written trust instrument or custodial agreement created or organized in the United States and forming part of a tax-advantaged savings plan that qualifies for…

19.03 PDF: (A) As used in this rule:(1) "Continuing credit union" means the credit union which will continue to be in operation after the merger.(2) "Merging credit union" means the credit union that will cease to exist as an operating credit union at the time of the merger.(B) A…

19.03 PDF: A credit union organized and doing business under the laws of this state is permitted to do business in such other state or territory of the United States under supervisory and regulatory conditions similar to the laws of this state, subject to approval by such other s…

19.03 PDF: (A) The credit union share guaranty corporation shall obtain the written approval of the superintendent of insurance as to the percentage amount of the aggregate share capital of a participating credit union, which each participating credit union must contribute and ma…

19.03 PDF: In addition to the applicable requirements set forth in Chapter 1761. and Title XXXIX of the Revised Code, the credit union share guaranty corporation shall simultaneously furnish any documents it is required to file with the superintendent of insurance thereof to the …

19.03 PDF: (A) The credit union share guaranty corporation shall apply to the superintendent of credit unions for a certificate of compliance with Chapter 1761. of the Revised Code prior to obtaining a license from the superintendent of insurance.(B) The superintendent of credit …

19.03 PDF: The credit union share guaranty corporation shall notify the superintendent of credit unions and the superintendent of insurance, in writing, at least five business days prior to taking any action to aid or assist, by an amount which exceeds one hundred thousand dollar…

19.03 PDF: The superintendent of credit unions or the superintendent of insurance may consider the following criteria, among others, in determining if it is actuarially or financially necessary for a credit union share guaranty corporation to obtain reinsurance or a line of credi…

19.03 PDF: In the event of the termination, nonrenewal or any other lapse of either the credit union share guaranty corporation's reinsurance or line of credit, without replacement by similar reinsurance or line of credit, the credit union share guaranty corporation shall immedia…

19.03 PDF: Written communication with regulatory significance from a credit union supervisory authority of another state to the credit union share guaranty corporation, as set forth in division (C) of section 1761.06 of the Revised Code, shall mean any correspondence, examination…

19.03 PDF: (A) The credit union share guaranty corporation shall not publicly represent in any manner that it is an agency of the state or federal government or that it is guaranteed in any way by a governmental agency.(B) The credit union share guaranty corporation shall not pub…

19.03 PDF: The financial statements, examination reports, analyses and other information submitted by the superintendent of credit unions or other credit union supervisory authority, the national credit union administration or by participating credit unions to the credit union sh…

19.03 PDF: The credit union share guaranty corporation shall notify the superintendent of credit unions immediately whenever the credit union share guaranty corporation shall require that an audit be conducted of the books and records of a participating credit union. In the event…

19.03 PDF: (A) The credit union share guaranty corporation shall notify the superintendent of credit unions and the superintendent of insurance of the normal operating level of the guarantee fund, as approved by its board of directors, and of any change in the normal operating le…

19.03 PDF: When the property and business of a participating credit union have been liquidated or are in the process of liquidation and the proceeds of liquidation are insufficient to pay the full guaranteed amount of each credit union share account, the credit union share guaran…

19.03 PDF: (A) Except as provided in divisions (A)(1) to (A)(8) of section 1761.13 of the Revised Code, a credit union share guaranty corporation shall not invest or deposit its funds in any manner or make any investment in any company, related or unrelated, without obtaining the…

19.03 PDF: (A) The credit union share guaranty corporation shall submit its annual report to the superintendent of credit unions, department of commerce, within one hundred days after the close of the fiscal year. The annual report shall be certified by the oath of the president …

19.03 PDF: (A) The audit examination of the credit union share guaranty corporation by the superintendent of credit unions, conducted not more often than annually and not less than every three years, shall include an actuarial study of the capital adequacy of the credit union sha…

19.03 PDF: The credit union share guaranty corporation shall submit a quarterly report to the superintendent of credit unions within thirty days after the close of the calendar quarter. The quarterly report shall include a financial statement, a guarantee fund report and any othe…

19.03 PDF: Public notice of hearing to be conducted by the department of natural resources shall be advertised in the register of Ohio at least thirty days, but not more than forty days, prior to the hearing. In addition to public notice given in the register of Ohio, the departm…

19.03 PDF: No person shall divert more than one hundred thousand gallons per day of any waters of the state out of the lake Erie or Ohio river drainage basin without being issued a permit by the director of natural resources in accordance with section 1501.32 of the Revised Code …

19.03 PDF: For purposes of rules 1501-2-01 to 1501-2-12 of the Administrative Code:(A) "Director" means the director of the department of natural resources.(B) "Department" means the department of natural resources.(C) "Applicant" means a person making application for a water div…

19.03 PDF: The invalidation by a court of a rule adopted or amended pursuant to sections 1501.30 to 1501.35 of the Revised Code shall not affect the validity of any other rule or portion thereof adopted or amended thereunder by the director. Authorized By: – Amplifies: – Five Yea…

h 119. PDF: The chief of the division of water in the department of natural resources shall establish and maintain a map file of the boundaries of the lake Erie and Ohio river drainage basins in this state. The map file shall be available for public inspection at the division's o…

19.03 PDF: (A) Any application that fails to provide the director with prescribed information needed for ascertaining compliance with the applicable provisions of section 1501.32 of the Revised Code, or rules promulgated thereunder, shall be considered defective. Upon determining…

19.03 PDF: (A) No application for a water diversion permit shall be granted if the director determines any of the following to be true:(1) During the expected life of the diversion, some or all of the water to be diverted will be needed for use within the basin.(2) The proposed d…

19.03 PDF: (A) If the application is for a diversion which is not subject to the provisions of section 1109 of the "Water Resources Development Act of 1986," 100 Stat. 4230 42 U.S.C.A. 1962D-20, the director shall issue or deny the water diversion permit within ninety days of acc…