Ohio § 1113.09 Superintendent of financial institutions to issue certificate of authority to commence business

Ohio Statutes

§ 1113.09 — Superintendent of financial institutions to issue certificate of authority to commence business

Ohio § 1113.09

Title 11Banks-Savings and Loan Associations

Ch. 1113Stock State Banks - Formation

This text of Ohio § 1113.09 (Superintendent of financial institutions to issue certificate of authority to commence business) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 1113.09 (2026).

Text

(A)The superintendent of financial institutions shall issue a certificate of authority to commence business if:

(1)The superintendent is satisfied, based upon the examination conducted pursuant to section1113.08of the Revised Code and any other facts within the knowledge of the superintendent, that the stock state bank is otherwise entitled to commence business.

(2)With respect to a stock state bank that, upon commencing business, would be authorized to accept deposits other than trust funds, the superintendent has received from the federal deposit insurance corporation (FDIC) confirmation that the FDIC has approved the bank's application to become an insured bank as defined in section 3(h) of the "Federal Deposit Insurance Act," 92 Stat. 614 (1978), 12 U.S.C.A. 1813(h). A stock state

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(A) The superintendent of financial institutions shall issue a certificate of authority to commence business if:

(1) The superintendent is satisfied, based upon the examination conducted pursuant to section1113.08of the Revised Code and any other facts within the knowledge of the superintendent, that the stock state bank is otherwise entitled to commence business.

(2) With respect to a stock state bank that, upon commencing business, would be authorized to accept deposits other than trust funds, the superintendent has received from the federal deposit insurance corporation (FDIC) confirmation that the FDIC has approved the bank's application to become an insured bank as defined in section 3(h) of the "Federal Deposit Insurance Act," 92 Stat. 614 (1978), 12 U.S.C.A. 1813(h). A stock state bank is not required to become an insured bank as defined in section 3(h) of the "Federal Deposit Insurance Act" if, by the terms of its articles of incorporation, it is not permitted to solicit or accept deposits other than trust funds.

(B) The bank shall cause the certificate of authority to commence business to be published once a week for two successive weeks in a newspaper of general circulation in the county where the bank's initial banking office is located.

(C) For purposes of this section, "trust funds" means funds held in a fiduciary capacity and includes, but is not limited to, funds held as trustee, executor, administrator, guardian, or agent.