Ohio Code 1109.43 – Investing in bankers’ bank or holding company
(A) For purposes of this section:
Terms Used In Ohio Code 1109.43
- 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.
- state: means the state of Ohio. See Ohio Code 1.59
(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” means a corporation that owns or controls, directly or indirectly, a majority of the shares of the capital stock of a bankers’ bank, or controls in any manner the election of a majority of the directors of a bankers’ bank.
(3) “Depository institution” means a bank, savings association, savings bank, or credit union.
(B) A state bank may invest, in the aggregate, up to ten per cent of its capital in shares of bankers’ banks or bankers’ bank holding companies.
(C)(1) The voting shares of a bankers’ bank shall be owned by twenty or more depository institutions or depository institution holding companies, and no depository institution or depository institution holding company shall own, directly or indirectly, more than fifteen per cent of the voting shares of a bankers’ bank.
(2) The voting shares of a bankers’ bank shall be owned, directly or indirectly, exclusively by depository institutions, depository institution holding companies, and persons who hold the shares under, or initially acquired them through, a plan for the benefit of the bankers’ bank’s officers and employees.