Effective: January 1, 2018
Latest Legislation: House Bill 49 - 132nd General Assembly
When considering the impact of a proposed action or transaction on the convenience and needs of the community to be served, both of the following shall apply:
(A) The superintendent of financial institutions shall assess whether the facts and circumstances relating to the proposed action or transaction reasonably indicate that the purpose for the proposed action or transaction is to engage in the banking business and provide banking services in the community to be served, rather than to raise funds for other purposes or otherwise serve a nonbanking purpose.
(B) The superintendent shall not require the person proposing the action or transaction to prove any of the following:
(1) There is substantial unmet need for banking services in the community.
(2) The person will bring banking services or other particular advantages to the community that are not presently available there.
(3) The action or transaction will not adversely affect an existing financial institution in the community.
Structure Ohio Revised Code
Title 11 | Banks-Savings and Loan Associations
Chapter 1121 | Banks - Superintendent's Powers
Section 1121.01 | Banks - Superintendent's Powers Definitions.
Section 1121.02 | Superintendent and Deputy Superintendent for Banks - Powers and Duties.
Section 1121.03 | Adoption of Administrative Rules.
Section 1121.05 | Granting Rights to Financial Institutions.
Section 1121.06 | Reducing Disadvantage to Ohio Bank or Trust Company.
Section 1121.10 | Examining Records and Affairs.
Section 1121.101 | Frequency of Bank Examinations.
Section 1121.11 | Alternate, Joint or Concurrent Examinations.
Section 1121.12 | Examining Person Who, Directly or Indirectly, Controls Bank.
Section 1121.13 | Examining Other Corporate Persons Who, Directly or Indirectly, Control Banks.
Section 1121.15 | Maintaining Books and Accounts.
Section 1121.16 | Prohibited Acts; Violations.
Section 1121.17 | Executing Documents.
Section 1121.18 | Confidentiality.
Section 1121.19 | Self-Assessment Report.
Section 1121.21 | Reporting Condition and Income.
Section 1121.23 | Criminal Records Check to Be Requested by Superintendent.
Section 1121.24 | Fee; Incomplete Application or Notice of Proposed Action or Transaction.
Section 1121.25 | Request for Confidentiality.
Section 1121.26 | Considering Impact of Proposed Action or Transaction.
Section 1121.27 | Reasonable and Necessary Conditions.
Section 1121.29 | Assessments.
Section 1121.32 | Notice of Charges and Intent to Issue Cease and Desist Order.
Section 1121.35 | Civil Penalty.
Section 1121.37 | Serving Notice.
Section 1121.38 | Administrative Hearing.
Section 1121.39 | Notice Served Within 6 Years of Resignation, Termination or Separation.
Section 1121.41 | Notice of Charges and Intent to Issue Supervision Order.
Section 1121.43 | Monthly Publication by Superintendent of Violations.
Section 1121.45 | Meeting With Regulated Persons.
Section 1121.47 | Superintendent - Order and Subpoena Powers.
Section 1121.48 | Suits and Court Proceedings.
Section 1121.50 | Independent Auditor.
Section 1121.51 | Action to Secure Condition of Assets.