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Can you summarize OHRC Chapter 1121?
Banks-Savings and Loan Associations > Banks - Superintendent's Powers
Short Summary
These legal documents, found in the Ohio Revised Code, cover various aspects of the powers and duties of the superintendent and deputy superintendent for banks in Ohio. They include the adoption of rules and standards, issuance of administrative guidelines, granting of rights and privileges to financial institutions, reduction of disadvantage to Ohio bank or trust companies, examination of records and affairs, participation in alternate examinations, examination of persons who control banks, manner and form of keeping books and accounts, prohibited acts and violations, confidentiality of information, privileged status of self-assessment reports, reporting of condition and income, criminal records checks, payment of fees, confidential treatment of information, assessment of convenience and needs, assessment of civil penalties, serving of notices, subpoenas, and orders, suits and court proceedings, independent audits, establishment of reserves, capital restoration plans, limitation of activities, frequency of examinations, and bona fide errors. These documents apply to banks, trust companies, state banks, foreign banks, regulated persons, financial institution regulatory authorities, and other individuals or entities involved in transactions with banks or trust companies. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
The documents apply to banks, trust companies, state banks, foreign banks, regulated persons (directors, officers, employees, agents, persons who control a bank or trust company), financial institution regulatory authorities, and other individuals or entities involved in transactions with banks or trust companies.
What does it govern?
The document covers various aspects of the powers and duties of the superintendent and deputy superintendent for banks in Ohio, including the adoption of rules and standards, issuance of administrative guidelines, granting of rights and privileges to financial institutions, reduction of disadvantage to Ohio bank or trust companies, examination of records and affairs, participation in alternate examinations, examination of persons who control banks, manner and form of keeping books and accounts, prohibited acts and violations, confidentiality of information, privileged status of self-assessment reports, reporting of condition and income, criminal records checks, payment of fees, confidential treatment of information, assessment of convenience and needs, assessment of civil penalties, serving of notices, subpoenas, and orders, suits and court proceedings, independent audits, establishment of reserves, capital restoration plans, limitation of activities, frequency of examinations, bona fide errors
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
The penalties for non-compliance or violation of the provisions are not explicitly mentioned in these documents.
Jurisdiction
Ohio