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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1116.10 | Governance by board of directors.

Ohio Revised Code
/
Title 11 Banks-Savings and Loan Associations
/
Chapter 1116 Mutual Holding Companies
 
Effective:
January 1, 2018
Latest Legislation:
House Bill 49 - 132nd General Assembly
PDF:
Download Authenticated PDF
 

(A) A mutual holding company and any subsidiary holding company shall be governed by a board of directors and in accordance with the articles of incorporation and code of regulations adopted in connection with the reorganization, or as amended in accordance with law or rule after the reorganization.

(B) The board of the mutual holding company and any subsidiary holding company shall have at least five members who, initially, shall consist of the board of directors of the reorganizing mutual state bank. Such members, after the formation of the mutual holding company and any subsidiary holding company, shall continue to serve as directors for the balance of the terms to which they were elected.

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