Find Laws Find Lawyers Free Legal Forms USA State Laws

OHIO STATUTES AND CODES

1105.02 Qualifications of board members.

1105.02 Qualifications of board members.

(A)(1) Of the directors on the board of directors of a bank:

(a) A majority of the directors shall be outside directors. However, if eighty per cent or more of any class of the bank’s voting shares are owned by a company, a majority of the directors may be officers or directors of one or more affiliates of the bank.

(b) A majority of the directors shall be residents of this state or live within one hundred miles of this state.

(2)(a) If during a term of office a director causes the total membership of the board to be in violation of division (A)(1)(a) or (b) of this section, the director forfeits the directorship, and the director’s office is then vacant.

(b) If the membership of a board of directors of a bank on July 14, 1987, is composed in violation of division (A)(1)(a) or (b) of this section, the directors who are holding office on that date may continue to hold office, and may be reelected or reappointed if there is no interruption in their respective service.

(c) No new director, or former director who is elected or appointed to the board after an interruption in service, shall be elected or appointed in violation of division (A)(1)(a) or (b) of this section.

(B)(1) No person who has been convicted of, or has pleaded guilty to, a felony involving dishonesty or breach of trust shall take office as a director.

(2) If during a term of office any director is convicted of, or pleads guilty to, a felony described under division (B)(1) of this section, the director forfeits the directorship, and the director’s office is then vacant.

Effective Date: 01-01-1997

Ohio Forms by Issue

Ohio Court Forms
> DUI
> Probate
Ohio Name Change Forms
Ohio Real Estate Forms
Ohio Tax Forms

Ohio Law

Ohio State Laws
    > Ohio Child Support
    > Ohio Child Support Payment Status
    > Ohio Gun Law
    > Ohio Statutes
Ohio Labor Laws
    > Ohio Unemployment
Ohio State
    > Ohio Counties
    > Ohio Zip Codes
Ohio Tax
    > Ohio Sales Tax
    > Ohio State Tax
Ohio Court
    > Brandenburg v. Ohio
    > Mapp v. Ohio
    > Ohio Attorney General
    > Ohio Supreme Court
Ohio Agencies
    > Ohio Department of Corrections
    > Ohio Department of Education
    > Ohio Department of Health
    > Ohio Department of Insurance
    > Ohio Department of Taxation
    > Ohio Department of Transporation
    > Ohio DMV
    > Ohio Secretary of State Business Name Search

Ohio Court Map

Tips