1155.42 Depositor assistance corporation definitions. - Ohio Statutes

1155.42 Depositor assistance corporation definitions.

As used in sections 1155.41 to 1155.47 of the Revised Code:

(A) “Acquisition” means acquiring, directly or indirectly, any voting shares of, interest in, or all or a portion of the assets (and assuming all or a portion of the liabilities) of, a depository institution whose principal office is located in this state, including without limitation the acquisition of a newly chartered bank or savings and loan association referred to in section 1155.45 of the Revised Code.

(B) “Affiliate” of any company means any person controlled by, controlling, or under common control with such company.

(C) “Acquiring bank” means a bank subsidiary of a purchaser that assumes certain of the liabilities of an insolvent depository institution.

(D) “Bank holding company act” means the “Federal Bank Holding Company Act of 1956,” 70 Stat. 133, 12 U.S.C. 1841, et seq., as amended.

(E) “Depository institution” means an institution chartered by the state or federal government to accept deposits and includes a bank or a building and loan association.

(F) “Domestic bank holding company” means a company which is defined as a bank holding company under the bank holding company act and which on the effective date of this section conducted its principal banking business in Ohio.

(G) “Foreign bank holding company” means a company which is defined as a bank holding company under the bank holding company act and which on the effective date of this section conducted its principal banking business in a jurisdiction of the United States other than Ohio.

(H) “Insolvent depository institution” means a depository institution for which a conservator has or had been appointed and which had as of the date of such appointment at least fifty thousand deposit accounts, and includes any subsidiary thereof.

(I) “Purchaser” means a bank holding company that directly or indirectly purchases certain of the assets of, and, directly or through a bank subsidiary, assumes certain liabilities of, an insolvent depository institution.

(J) “Successor-in-interest” means any successor appointed pursuant to the provisions of Chapter 1157. of the Revised Code to all of the legal or equitable interests of a savings and loan association.

Effective Date: 05-21-1985