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Ohio Statutes, Title 11

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Title 11, Title 11. Banks-Savings and Loan Associations

18 chapters · 313 sections in this title.

All chapters in Title 11313 Ch 1109, Chapter 1109 | State Banks - Powers53 Ch 1121, Chapter 1121 | Banks - Superintenden…40 Ch 1112, Chapter 1112 | Ohio Family Trust Com…29 Ch 1111, Chapter 1111 | Trust Companies26 Ch 1125, Chapter 1125 | Banks - Liquidations …26 Ch 1119, Chapter 1119 | Foreign Banks18 Ch 1116, Chapter 1116 | Mutual Holding Companies16 Ch 1113, Chapter 1113 | Stock State Banks - F…15 Ch 1115, Chapter 1115 | Banks - Acquisitions …14 Ch 1181, Chapter 1181 | Division Of Financial…14 Ch 1114, Chapter 1114 | Mutual State Banks13 Ch 1101, Chapter 1101 | Banks - General Provi…8 Ch 1105, Chapter 1105 | Banks - Board Of Dire…8 Ch 1127, Chapter 1127 | Banks - Crimes And Pr…8

53 sections·Filtered byTitle 11✕Ch 1109✕

Ohio Rev. Code Ann. § 1109.01 Bank powers, rights and privileges generally
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(A) A state bank may use, exercise, and enjoy all of the powers, rights, and privileges of a corporation as set forth in section 1701.13 of the Revised Code, unless otherwise provided in its articles of incorporation and except as otherwise expressly limited by Chapters 1101. to …
Ohio Rev. Code Ann. § 1109.02 Additional and incidental powers
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(A) In addition to exercising the powers and performing the acts authorized under Chapters 1101. to 1127. of the Revised Code, a state bank has and may exercise all powers and perform all acts attendant to the business of banking as set forth in those chapters.(B) A state bank ha…
Ohio Rev. Code Ann. § 1109.021 Election to operate as a savings and loan association
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(A) As used in this section, "portfolio assets" and "qualified thrift investments" have the same meanings as in 12 U.S.C. 1467a, as amended.(B) A state bank may elect to operate as a savings and loan association by filing a written notice of that election with the superintendent …
Ohio Rev. Code Ann. § 1109.03 Federal deposit insurance corporation and federal reserve requirements
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(A) No bank shall transact business in this state unless its deposit accounts are insured by the federal deposit insurance corporation, except a bank that by the terms of its articles of incorporation or articles of association is not permitted to solicit or accept deposits other…

Ohio Rev. Code Ann. § 1109.04 Good faith reliance; electronic statements and notice

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(A) A bank may, in good faith, rely:(1) On any and all information, agreements, documents, and signatures provided by its customers as being true, accurate, complete, and authentic and representing what they purport to represent; and(2) That the persons signing have full capacity…

Ohio Rev. Code Ann. § 1109.05 Deposit contracts

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(A) A bank may receive money on deposit and may establish the terms and conditions of each deposit contract. A bank may receive demand deposits subject to withdrawal or to payment upon the depositor's check, order, or other authorization.(B) At the time of opening a deposit accou…

Ohio Rev. Code Ann. § 1109.06 Designating on signature card deposit is in trust for another

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(A) Whenever a depositor opens or modifies the ownership of a deposit account by designating on the signature card the deposit is in trust for another, and no further notice of the existence and terms of a legal and valid trust is given in writing to the bank, both of the followi…

Ohio Rev. Code Ann. § 1109.07 Deposits payable to survivor - deposits payable on death

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(A) When a deposit is made in the name of two or more persons, payable to either or the survivor, the bank may pay all of the deposit, any part of the deposit, or any interest earned on the deposit, to either of the named persons, or the guardian of the estate of either of the na…

Ohio Rev. Code Ann. § 1109.08 Safes, vaults, safe deposit boxes, night depositories

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(A) A bank may provide safes, vaults, safe deposit boxes, night depositories, and other secure receptacles for the uses, purposes, and benefits of its customers, on the terms and conditions the bank prescribes.(B) A bank may, on the terms and conditions the bank prescribes, recei…

Ohio Rev. Code Ann. § 1109.09 Accounts and safe deposit box rentals for minors

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(A) A bank may do any of the following:(1) Accept deposits made by or on behalf of any minor and open an account however payable in the name of one or more persons, one or more or all of whom are minors, or in the name of another person as trustee for a minor, whether or not the …

Ohio Rev. Code Ann. § 1109.10 Claims adverse to deposits or property

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If any claim not clearly consistent with the terms of any applicable authority on file with a bank is made to any deposit, safe deposit box, property held in safekeeping, security, obligation, or other property in the bank's possession or control, in whole or in part, by any pers…

Ohio Rev. Code Ann. § 1109.11 Deposits entered as U.S. money

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All deposits of money, or its equivalent, made with a bank shall be entered on its books only in terms of money of the United States.

Ohio Rev. Code Ann. § 1109.15 Permitted transactions

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(A)(1) Subject to the restrictions and limitations of the Revised Code, a state bank may do any of the following:(a) Loan money, with or without security, and payable on demand, at maturity, in installments, or by any combination of these;(b) Issue, advise, and confirm letters of…

Ohio Rev. Code Ann. § 1109.151 No fiduciary relationship created

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Unless otherwise expressly agreed to in writing by the bank, the relationship between a bank and its obligor, or a bank and its customer, creates no fiduciary or other relationship between the parties or any special duty on the part of the bank to the customer or any other party.

Ohio Rev. Code Ann. § 1109.16 Standards for extensions of credit

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(A) The superintendent of financial institutions shall adopt rules prescribing standards for extensions of credit that are either of the following:(1) Secured by liens on interests in real estate;(2) Made for the purpose of financing the construction of either a building or impro…

Ohio Rev. Code Ann. § 1109.17 Accepting drafts or bills of exchange

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(A)(1) A state bank may accept drafts or bills of exchange drawn on it and may purchase acceptances of drafts or bills of exchange issued by other banks and participations in acceptances of drafts or bills of exchange issued by other banks, subject to the following limitations:(a…

Ohio Rev. Code Ann. § 1109.18 Extending credit pursuant to revolving credit agreement

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(A) A bank may extend credit to a customer pursuant to a revolving credit agreement allowing the customer to access the credit from time to time, subject to a limitation on the outstanding balance of the credit accessed and without regard to whether the customer has previously ac…

Ohio Rev. Code Ann. § 1109.181 Charges under revolving credit agreement

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(A) As used in this section: (1) "Revolving credit agreement" means an agreement pursuant to which a bank contemplates repeated transactions and the amount of credit that may be extended pursuant to the agreement is made available to the extent that any outstanding balance is rep…

Ohio Rev. Code Ann. § 1109.20 Interest and finance charge rates

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(A) A bank may contract for and receive interest or finance charges at any rate or rates agreed upon or consented to by the parties to the loan contract, extension of credit, or revolving credit agreement, but not exceeding an annual percentage rate of twenty-five per cent. In ad…

Ohio Rev. Code Ann. § 1109.22 Total loans and extensions of credit to person outstanding at any one time

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(A) As used in this section:(1) "Derivative transaction" includes any transaction that is a contract, agreement, swap, warrant, note, or option that is based, in whole or in part, on the value of, any interest in, or any quantitative measure or the occurrence of any event relatin…

Ohio Rev. Code Ann. § 1109.23 Extending credit to executive officers, directors, principal shareholders or to related interests

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(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 the Revised Code.(B)…

Ohio Rev. Code Ann. § 1109.24 Extending credit to executive officer - reports

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(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 bank except by means of an extension of credit the…

Ohio Rev. Code Ann. § 1109.25 Bank's own stock as security or payment

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(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.(B) A stock state bank that accepts shares of its own st…

Ohio Rev. Code Ann. § 1109.26 Owning or holding real estate or stock acquired in satisfaction of debt

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(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 previously contracted. The superin…

Ohio Rev. Code Ann. § 1109.31 Real estate investments

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(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 as its exclusive author…

Ohio Rev. Code Ann. § 1109.32 Bonds, notes and other debt securities as investments

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(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 interest;(2) Bonds, notes, or other debt securities issue…

Ohio Rev. Code Ann. § 1109.33 Investing in stock of federally chartered banks

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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 and surplu…

Ohio Rev. Code Ann. § 1109.34 Investing in securities of domestic insurance company

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(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 business of reinsuring risks…

Ohio Rev. Code Ann. § 1109.35 Investing in venture capital firms, small businesses and economic development corporations

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(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 busines…

Ohio Rev. Code Ann. § 1109.36 Underwriting and dealing in guaranteed and acceptable debt securities

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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 of the following:…

Ohio Rev. Code Ann. § 1109.39 Additional stock investments

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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 authorized by the bank's board of…

Ohio Rev. Code Ann. § 1109.40 Additional authority for loans and investments

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(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 total assets in loans or investments authorized by th…

Ohio Rev. Code Ann. § 1109.43 Investing in bankers' bank or holding company

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(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" m…

Ohio Rev. Code Ann. § 1109.44 Investing in bank subsidiary corporations and bank service corporations

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(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 financial institutio…

Ohio Rev. Code Ann. § 1109.441 Additional investment authority

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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 the following:(A) The state bank, di…

Ohio Rev. Code Ann. § 1109.45 Investing in clearing corporation

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A state bank may invest in the shares of a clearing corporation as defined by section 1308.01 of the Revised Code.

Ohio Rev. Code Ann. § 1109.47 Limiting investing in one issuer

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(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 not apply to any of the following:(1) Bonds or o…

Ohio Rev. Code Ann. § 1109.48 Investing in firms owned and controlled by minorities or women

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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 quality…

Ohio Rev. Code Ann. § 1109.49 Furnishing financial information to superintendent

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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.

Ohio Rev. Code Ann. § 1109.53 Transactions with affiliates definitions

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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 bank;(b) A bank subsidiary …

Ohio Rev. Code Ann. § 1109.54 Conditions for engage in covered transaction with affiliate

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(A) A state bank and its subsidiaries may engage in a covered transaction with an affiliate only if both of the following apply:(1) The aggregate amount of covered transactions by the bank and its subsidiaries with the particular affiliate will not exceed ten per cent of the bank…

Ohio Rev. Code Ann. § 1109.55 Permitted transactions with affiliate

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(A) A state bank and its subsidiaries may engage in any of the transactions described in division (B) of this section only if one of the following applies:(1) The transaction is on terms and under circumstances, including credit standards, that are substantially the same, or at l…

Ohio Rev. Code Ann. § 1109.56 Rules for transactions with affiliates

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Pursuant to the authority of section 1121.03 of the Revised Code, the superintendent of financial institutions may adopt rules to administer and carry out the purposes of sections 1109.53, 1109.54, and 1109.55 of the Revised Code, including rules that do any of the following:(A) …

Ohio Rev. Code Ann. § 1109.59 Authority to borrow

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A state bank may borrow money in any sum consistent with safety and soundness. Borrowing by means of the issuance of debt securities is subject to the approval of the superintendent of financial institutions in accordance with section 1107.05 of the Revised Code.

Ohio Rev. Code Ann. § 1109.61 Paying management and consulting fees

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No state bank shall contract to pay, or pay to any person, any fees for management or consulting services, including fees for legal, accounting, brokerage, or other similar professional services, that do not have a direct relationship to the value of the services rendered or to b…

Ohio Rev. Code Ann. § 1109.62 Selling insurance

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A state bank may engage in the business of selling insurance through a subsidiary insurance agency subject to licensing under the law of this state and the law of every other state in which services are provided by the bank or its subsidiary.

Ohio Rev. Code Ann. § 1109.63 Coin and bullion

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A state bank may buy, sell, and exchange coin and bullion.

Ohio Rev. Code Ann. § 1109.64 Travel services

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Subject to the limitations and restrictions of Chapters 1101. to 1127. of the Revised Code, a state bank shall have the power to do both of the following:(A) Operate travel agencies;(B) Engage in the sale of tickets for passage on common carriers, such as airlines, railroads, shi…

Ohio Rev. Code Ann. § 1109.65 Tax certificate purchase

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In order to protect its interest in a property, a state bank may purchase a tax certificate under section 5721.32 or 5721.33 of the Revised Code.

Ohio Rev. Code Ann. § 1109.68 Using copying or reproduction processes

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(A) A bank 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 all of the following apply:(1) The proce…