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Can you summarize OHRC Chapter 1103?
Banks-Savings and Loan Associations > State Banks - Corporate Governance
Short Summary
The provided legal document content pertains to the naming requirements for state banks and the filing requirements for state bank documents with the secretary of state. According to the Ohio Revised Code, the name of a state bank must include certain terms specified in the document. The name should not mislead the public and should be distinguishable from existing financial institutions’ names. To reserve a name for a state bank, an application must be submitted to the superintendent, who will endorse approval and forward the reservation to the secretary of state for filing. The reservation provides the exclusive right to use the name for a specified period. Using the name of a state bank in a misleading manner is prohibited, and violations can lead to legal action by the injured state bank. The document also outlines the requirements for filing state bank documents with the secretary of state. The person responsible for producing the document must deliver a properly completed document, along with the required fee, to the superintendent of financial institutions. The superintendent then files the document, along with any necessary approval, with the secretary of state. A certified copy of the document is sent to both the superintendent and the state bank or person on whose behalf the superintendent filed the document. Failure to comply with the filing requirements renders the action or transaction unauthorized or ineffective. The document does not mention any specific exemptions or penalties.
Whom does it apply to?
State banks, persons responsible for filing state bank documents
What does it govern?
Naming requirements for state banks, filing requirements for state bank documents with the secretary of state
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Ohio