Ohio § 1114.06 Certificate of authority to commence business

Ohio Statutes

§ 1114.06 — Certificate of authority to commence business

Ohio § 1114.06

Title 11Banks-Savings and Loan Associations

Ch. 1114Mutual State Banks

This text of Ohio § 1114.06 (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. § 1114.06 (2026).

Text

(A)A mutual state bank organized under this chapter shall not accept deposits, incur indebtedness, or transact any business other than business that is incidental to its organization until the bank receives a certificate of authority to commence business issued by the superintendent of financial institutions under section1114.07of the Revised Code.

(B)The bank shall file a report with the superintendent when it has done everything required by the superintendent before it can be authorized to commence business.

(C)Upon receipt of the report referred to in division (B) of this section, the superintendent shall examine the affairs of the bank and determine whether the bank has complied with all of the requirements necessary to entitle it to engage in business.

Free access — add to your briefcase to read the full text and ask questions with AI

(A) A mutual state bank organized under this chapter shall not accept deposits, incur indebtedness, or transact any business other than business that is incidental to its organization until the bank receives a certificate of authority to commence business issued by the superintendent of financial institutions under section1114.07of the Revised Code.

(B) The bank shall file a report with the superintendent when it has done everything required by the superintendent before it can be authorized to commence business.

(C) Upon receipt of the report referred to in division (B) of this section, the superintendent shall examine the affairs of the bank and determine whether the bank has complied with all of the requirements necessary to entitle it to engage in business.