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Can you summarize OHAC 1301:1?
Ohio Administrative Code > Department of Commerce | Division of Financial Institutions: Banks
Short Summary
The first document pertains to the notice of meetings of the Banking Board in Ohio, providing regulations and procedures for obtaining information about these meetings. The second document outlines the guidelines for determining the appropriate capital requirements for trust companies in Ohio, considering various factors such as the nature and volume of business. The third document governs the lending limits and standards for state banks, setting limits on outstanding loans and extensions of credit. The fourth document covers various procedures and requirements related to the relocation, change in control, and closing of banking offices in Ohio. The fifth document addresses the agency agreement between a bank and its affiliate, specifying permissible services and prohibiting certain activities. The sixth document requires stock state banks to obtain prior approval before purchasing shares of their own stock. The last document provides guidelines for the superintendent’s review and approval of applications to convert to a state bank charter. Additionally, there is a document that outlines the management responsibilities of state banks in relation to shareholder meetings, including requirements for proxy forms and solicitation statements. Lastly, there is a document that provides guidelines for trust companies in Ohio to become qualified trustees, requiring an application and investigation by the division of financial institutions. These documents apply to entities operating in the banking and trust industry in Ohio, trust companies, state banks, directors, and officers of state banks.
Whom does it apply to?
Entities operating in the banking and trust industry in Ohio, trust companies, state banks, directors and officers of state banks
What does it govern?
Notice of meetings of the Banking Board in Ohio, capital requirements for trust companies in Ohio, lending limits and standards for state banks, relocation of banking offices, change in bank control, closing of banking offices, agency agreement between a bank and its affiliate, stock state banks purchasing shares of its own stock, review and approval of applications to convert to a state bank charter, management of state banks and their responsibilities in relation to shareholder meetings, guidelines for trust companies in Ohio to become qualified trustees
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Ohio