Section 1101.16 | Soliciting, receiving, or accepting money or its equivalent for deposit as a business.
Effective:
January 1, 2018
Latest Legislation:
House Bill 49 - 132nd General Assembly
(A) No person shall solicit, receive, or accept money or its equivalent for deposit as a business in this state, except a state bank, an entity doing business as a bank, savings bank, or savings association under authority granted by the bank regulatory authority of the United States, another state of the United States, or another country, or a credit union as defined in section 1733.01 of the Revised Code that is authorized to accept deposits in this state.
(B) No bank having its principal place of business in a foreign country shall solicit, receive, or accept deposits or transact any banking business of any kind in this state, except in accordance with Chapter 1115. or 1119. of the Revised Code.
Available Versions of this Section
- May 21, 1997 – Senate Bill 40 - 122nd General Assembly [ View May 21, 1997 Version ]
- January 1, 2018 – Amended by House Bill 49 - 132nd General Assembly [ View January 1, 2018 Version ]