Ohio Code 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 the bank’s board of directors.
Terms Used In Ohio Code 1109.40
- 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.
- state: means the state of Ohio. See Ohio Code 1.59
(B) If a loan or other investment is authorized under more than one section of Chapter 1109 of the Revised Code, a state bank may designate under which section the loan or investment has been or will be made. The loan or investment may be apportioned among appropriate categories, and may be moved in whole or in part from one category to another.