Ohio Rev. Code » Chapter 1109
Ohio Revised Code

Ohio Rev. Code § 1109.021 (2026)

Election to operate as a savings and loan association

✓ current as of May 2026
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Effective:
January 1, 2018
Latest Legislation:
House Bill 49 - 132nd General Assembly
PDF:
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(A) As used in this section, "portfolio assets" and "qualified thrift investments" have the same meanings as in 12 U.S.C. 1467a, as amended.

(B) A state bank may elect to operate as a savings and loan association by filing a written notice of that election with the superintendent of financial institutions.

(C) Upon filing an election notice, a state bank shall be considered a savings and loan association if both of the following conditions are met:

(1) Its qualified thrift investments equal or exceed sixty-five per cent of its portfolio assets.

(2) Its qualified thrift investments continue to equal or exceed sixty-five per cent of its assets on a monthly average basis in nine out of every twelve months.

(D) A state bank may revoke its election notice at any time by submitting a written notice thereof to the superintendent.
Notes of Decisions
Cited in 1 case, 1989–1989 · leading case: In Re Est. of Touring, 775 S.W.2d 39 (Tex. App.—Houston [14th Dist.] 1989).
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In Re Est. of Touring, 775 S.W.2d 39 (Tex. App.—Houston [14th Dist.] 1989). · cites it 2× “Banking Law § 154 (McKinney 1987); Ohio Rev.Code Ann.§ 1109.021 (Anderson 1986); S.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.