Ohio Code 1116.01 – Definitions
As used in this chapter, unless the context requires otherwise:
Terms Used In 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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
- state: means the state of Ohio. See Ohio Code 1.59
- 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
(A) “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.
(2) It is in the mutual form immediately prior to the acquisition.
(B) “Reorganization plan” means the plan to reorganize into a mutual holding company structure described in section 1116.07 of the Revised Code.
(C) “Reorganizing mutual state bank” means a mutual state bank that proposes to reorganize into a mutual holding company structure in accordance with this chapter.
(D) “Resulting mutual holding company” means a bank holding company organized in mutual form under this chapter and, unless otherwise indicated, a subsidiary holding company controlled by a mutual holding company organized under this chapter.
(E) “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.
(F) “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.
(G) “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.