Ohio Code 1116.18 – Powers
Subject to all necessary regulatory notices or approvals, a mutual holding company organized under this chapter may do all of the following:
Terms Used In Ohio Code 1116.18
- 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
- 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
- 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
(A) Acquire a bank organized in mutual or stock form by merger of such bank with the subsidiary stock state bank, interim subsidiary stock bank, or subsidiary stock holding company of the mutual holding company;
(B) Merge with or acquire another holding company provided that such holding company has, as one of its subsidiaries, a subsidiary banking corporation;
(C) Exercise any power of, or engage in any activity permitted for, a mutual state bank;
(D) Engage directly or indirectly only in such activities as are permissible activities for bank holding companies under applicable state and federal law or regulations;
(E) Invest in the stock of a bank;
(F) Exercise any rights, waive any rights, or take or waive any other action with respect to any securities of any subsidiary stock state bank or subsidiary stock holding company that are held by the mutual holding company.