Terms Used In Ohio Code > Chapter 1116 - Mutual Holding Companies

• Acquiree mutual bank: means any state bank, savings association, or savings bank that meets both of the following conditions:

  (1) It is acquired by a mutual holding company as part of, and concurrently with, a mutual holding company reorganization. See Ohio Code 1116.01

• Another: when used to designate the owner of property which is the subject of an offense, includes not only natural persons but also every other owner of property. See Ohio Code 1.02
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
• Reorganization plan: means the plan to reorganize into a mutual holding company structure described in section 1116. See Ohio Code 1116.01
• Reorganizing mutual state bank: means a mutual state bank that proposes to reorganize into a mutual holding company structure in accordance with this chapter. See Ohio Code 1116.01
• Resulting stock state bank: means a stock state bank that is organized as a subsidiary of a reorganizing mutual state bank to receive a substantial part of the assets and liabilities, including all deposit accounts, of the reorganizing mutual state bank upon consummation of the reorganization. See Ohio Code 1116.01
• Rule: includes regulation. See Ohio Code 1.59
• state: means the state of Ohio. See Ohio Code 1.59
• Stock bank: means a bank that has an ownership structure in the form of shares of stock and is doing business under authority granted by the superintendent of financial institutions or the bank regulatory authority of another state or the United States. See Ohio Code 1116.01
• Subsidiary holding company: means a stock company that is controlled by a mutual holding company and that owns the stock of a stock state bank whose depositors have membership rights in the parent mutual holding company. See Ohio Code 1116.01
• United States: includes all the states. See Ohio Code 1.59