As Reported by the Senate Finance and Financial Institutions Committee

126th General Assembly Regular Session 2005-2006

Sub. H. B. No. 454

Representatives Coley, Wagoner, Hartnett, Harwood, Brown, Bubp, Allen, Aslanides, Boccieri, Collier, DeBose, Dolan, Domenick, Evans, C., Fende, Hughes, McGregor, J., Patton, T., Reidelbach, Schneider, Seitz, Setzer, Smith, G. 

Senators Carey, Kearney 

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A BILL

To amend sections 109.71, 121.07, 1101.15, 1109.15,

1

1109.43, 1111.02, 1111.04, 1111.06, 1111.07,

2

1111.08, 1121.30, 1151.14, 1151.321, 1161.18,

3

1161.51, 1181.06, 1181.25, 1315.21, 1315.99,

4

1733.25, 3953.30, 3953.32, 3953.33, 4719.01, and

5

4973.17; to enact new sections 1151.348, 1315.01

6

to 1315.11, and 1315.16 to 1315.18; to enact

7

sections 1161.601, 1315.081, 1315.101, 1315.12,

8

1315.121, 1315.122, 1315.13, 1315.14, 1315.15,

9

1315.151, 1315.152, 1315.153, and 1315.161; to

10

repeal sections 1151.348, 1315.01, 1315.02,

11

1315.03, 1315.04, 1315.05, 1315.06, 1315.07,

12

1315.08, 1315.09, 1315.10, 1315.11, 1315.16,

13

1315.17, and 1315.18; and to repeal section

14

1125.28 of the Revised Code, as it results from

15

S.B. 293 of the 121st General Assembly, to modify

16

the Financial Institutions Law with respect to

17

debt suspension and cancellation contracts, trust

18

powers, boards of directors, on premises police

19

officers, and bankers' banks; to revise the Money

20

Transmitters Law, including with respect to

21

licensing, net worth, reporting, investigations,

22

and enforcement; and to modify the Title Insurance

23

Law relative to lender's title insurance, closing

24

or settlement protection, and annual reviews of

25

escrow and other accounts.

26

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:

Section 1. That sections 109.71, 121.07, 1101.15, 1109.15,	27
1109.43, 1111.02, 1111.04, 1111.06, 1111.07, 1111.08, 1121.30,	28
1151.14, 1151.321, 1161.18, 1161.51, 1181.06, 1181.25, 1315.21,	29
1315.99, 1733.25, 3953.30, 3953.32, 3953.33, 4719.01, and 4973.17	30
be amended and new sections 1151.348, 1315.01, 1315.02, 1315.03,	31
1315.04, 1315.05, 1315.06, 1315.07, 1315.08, 1315.09, 1315.10,	32
1315.11, 1315.16, 1315.17, and 1315.18 and sections 1161.601,	33
1315.081, 1315.101, 1315.12, 1315.121, 1315.122, 1315.13, 1315.14,	34
1315.15, 1315.151, 1315.152, 1315.153, and 1315.161 of the Revised	35
Code be enacted to read as follows:	36

Sec. 109.71.  There is hereby created in the office of the	37
attorney general the Ohio peace officer training commission. The	38
commission shall consist of nine members appointed by the governor	39
with the advice and consent of the senate and selected as follows:	40
one member representing the public; two members who are incumbent	41
sheriffs; two members who are incumbent chiefs of police; one	42
member from the bureau of criminal identification and	43
investigation; one member from the state highway patrol; one	44
member who is the special agent in charge of a field office of the	45
federal bureau of investigation in this state; and one member from	46
the department of education, trade and industrial education	47
services, law enforcement training.	48

As used in sections 109.71 to 109.77 of the Revised Code:

49

(A) "Peace officer" means:

50

(1) A deputy sheriff, marshal, deputy marshal, member of the	51
organized police department of a township or municipal	52
corporation, member of a township police district or joint	53
township police district police force, member of a police force	54
employed by a metropolitan housing authority under division (D) of	55
section 3735.31 of the Revised Code, or township constable, who is	56
commissioned and employed as a peace officer by a political	57
subdivision of this state or by a metropolitan housing authority,	58
and whose primary duties are to preserve the peace, to protect	59
life and property, and to enforce the laws of this state,	60
ordinances of a municipal corporation, resolutions of a township,	61
or regulations of a board of county commissioners or board of	62
township trustees, or any of those laws, ordinances, resolutions,	63
or regulations;	64

(2) A police officer who is employed by a railroad company	65
and appointed and commissioned by the secretary of state pursuant	66
to sections 4973.17 to 4973.22 of the Revised Code;	67

(3) Employees of the department of taxation engaged in the	68
enforcement of Chapter 5743. of the Revised Code and designated by	69
the tax commissioner for peace officer training for purposes of	70
the delegation of investigation powers under section 5743.45 of	71
the Revised Code;	72

(4) An undercover drug agent;

73

(5) Enforcement agents of the department of public safety	74
whom the director of public safety designates under section	75
5502.14 of the Revised Code;	76

(6) An employee of the department of natural resources who is	77
a natural resources law enforcement staff officer designated	78
pursuant to section 1501.013, a park officer designated pursuant	79
to section 1541.10, a forest officer designated pursuant to	80
section 1503.29, a preserve officer designated pursuant to section	81
1517.10, a wildlife officer designated pursuant to section	82
1531.13, or a state watercraft officer designated pursuant to	83
section 1547.521 of the Revised Code;	84

(7) An employee of a park district who is designated pursuant	85
to section 511.232 or 1545.13 of the Revised Code;	86

(8) An employee of a conservancy district who is designated	87
pursuant to section 6101.75 of the Revised Code;	88

(9) A police officer who is employed by a hospital that	89
employs and maintains its own proprietary police department or	90
security department, and who is appointed and commissioned by the	91
secretary of state pursuant to sections 4973.17 to 4973.22 of the	92
Revised Code;	93

(10) Veterans' homes police officers designated under section	94
5907.02 of the Revised Code;	95

(11) A police officer who is employed by a qualified	96
nonprofit corporation police department pursuant to section	97
1702.80 of the Revised Code;	98

(12) A state university law enforcement officer appointed	99
under section 3345.04 of the Revised Code or a person serving as a	100
state university law enforcement officer on a permanent basis on	101
June 19, 1978, who has been awarded a certificate by the executive	102
director of the Ohio peace officer training commission attesting	103
to the person's satisfactory completion of an approved state,	104
county, municipal, or department of natural resources peace	105
officer basic training program;	106

(13) A special police officer employed by the department of	107
mental health pursuant to section 5119.14 of the Revised Code or	108
the department of mental retardation and developmental	109
disabilities pursuant to section 5123.13 of the Revised Code;	110

(14) A member of a campus police department appointed under	111
section 1713.50 of the Revised Code;	112

(15) A member of a police force employed by a regional	113
transit authority under division (Y) of section 306.35 of the	114
Revised Code;	115

(16) Investigators appointed by the auditor of state pursuant	116
to section 117.091 of the Revised Code and engaged in the	117
enforcement of Chapter 117. of the Revised Code;	118

(17) A special police officer designated by the	119
superintendent of the state highway patrol pursuant to section	120
5503.09 of the Revised Code or a person who was serving as a	121
special police officer pursuant to that section on a permanent	122
basis on October 21, 1997, and who has been awarded a certificate	123
by the executive director of the Ohio peace officer training	124
commission attesting to the person's satisfactory completion of an	125
approved state, county, municipal, or department of natural	126
resources peace officer basic training program;	127

(18) A special police officer employed by a port authority	128
under section 4582.04 or 4582.28 of the Revised Code or a person	129
serving as a special police officer employed by a port authority	130
on a permanent basis on May 17, 2000, who has been awarded a	131
certificate by the executive director of the Ohio peace officer	132
training commission attesting to the person's satisfactory	133
completion of an approved state, county, municipal, or department	134
of natural resources peace officer basic training program;	135

(19) A special police officer employed by a municipal	136
corporation who has been awarded a certificate by the executive	137
director of the Ohio peace officer training commission for	138
satisfactory completion of an approved peace officer basic	139
training program and who is employed on a permanent basis on or	140
after March 19, 2003, at a municipal airport, or other municipal	141
air navigation facility, that has scheduled operations, as defined	142
in section 119.3 of Title 14 of the Code of Federal Regulations,	143
14 C.F.R. 119.3, as amended, and that is required to be under a	144
security program and is governed by aviation security rules of the	145
transportation security administration of the United States	146
department of transportation as provided in Parts 1542. and 1544.	147
of Title 49 of the Code of Federal Regulations, as amended;	148

(20) A police officer who is employed by an owner or operator	149
of an amusement park that has an average yearly attendance in	150
excess of six hundred thousand guests and that employs and	151
maintains its own proprietary police department or security	152
department, and who is appointed and commissioned by a judge of	153
the appropriate municipal court or county court pursuant to	154
section 4973.17 of the Revised Code;	155

(21) A police officer who is employed by a bank;, savings and	156
loan association;, savings bank;, credit union;, or association of	157
banks, savings and loan associations, savings banks, or credit	158
unions and, who has been appointed and commissioned by the	159
secretary of state pursuant to sections 4973.17 to 4973.22 of the	160
Revised Code, and who has been awarded a certificate by the	161
executive director of the Ohio peace officer training commission	162
attesting to the person's satisfactory completion of a state,	163
county, municipal, or department of natural resources peace	164
officer basic training program.	165

(B) "Undercover drug agent" has the same meaning as in	166
division (B)(2) of section 109.79 of the Revised Code.	167

(C) "Crisis intervention training" means training in the use	168
of interpersonal and communication skills to most effectively and	169
sensitively interview victims of rape.	170

(D) "Missing children" has the same meaning as in section	171
2901.30 of the Revised Code.	172

Sec. 121.07.  (A) Except as otherwise provided in this	173
division, the officers mentioned in sections 121.04 and 121.05 of	174
the Revised Code and the offices and divisions they administer	175
shall be under the direction, supervision, and control of the	176
directors of their respective departments, and shall perform such	177
duties as the directors prescribe. In performing or exercising any	178
of the examination or regulatory functions, powers, or duties	179
vested by Title XI, Chapters 1733. and 1761., and sections 1315.01	180
to 1315.111315.18 of the Revised Code in the superintendent of	181
financial institutions, the superintendent of financial	182
institutions and the division of financial institutions are	183
independent of and are not subject to the control of the	184
department or the director of commerce.	185

(B) With the approval of the governor, the director of each	186
department shall establish divisions within the department, and	187
distribute the work of the department among such divisions. Each	188
officer created by section 121.04 of the Revised Code shall be the	189
head of such a division.	190

With the approval of the governor, the director of each	191
department may consolidate any two or more of the offices created	192
in the department by section 121.04 of the Revised Code, or reduce	193
the number of or create new divisions therein.	194

The director of each department may prescribe rules for the	195
government of the department, the conduct of its employees, the	196
performance of its business, and the custody, use, and	197
preservation of the records, papers, books, documents, and	198
property pertaining thereto.	199

Sec. 1101.15.  (A)(1) Except as provided in division (A)(2)	200
of this section, no person other than a bank doing business under	201
authority granted by the superintendent of financial institutions,	202
the bank chartering authority of another state, the office of the	203
comptroller of the currency, or the bank chartering authority of a	204
foreign country shall do either of the following:	205

(a) Use "bank," "banker," or "banking," or a word or words of	206
similar meaning in any other language, in a designation or name,	207
or as any part of a designation or name, under which business is	208
or may be conducted in this state;	209

(b) Represent itself as a bank.

210

(2)(a) A corporation doing business under Chapter 1151. of	211
the Revised Code may use the word "bank," "banker," or "banking,"	212
or a word or words of similar meaning in any other language, in or	213
as part of a designation or name under which business is or may be	214
conducted in this state, as provided in section 1151.07 of the	215
Revised Code.	216

(b) A corporation doing business under Chapter 1161. of the	217
Revised Code may use the word "bank," "banker," or "banking," or a	218
word or words of similar meaning in any other language, in or as	219
part of a designation or name under which business is or may be	220
conducted in this state, as provided in section 1161.09 of the	221
Revised Code.	222

(c) A corporation doing business under authority granted by	223
the office of thrift supervision may use the word "bank,"	224
"banker," or "banking," or a word or words of similar meaning in	225
any other language, in or as part of a designation or name under	226
which business is or may be conducted in this state.	227

(d) A person, whether operating for profit or not, may use	228
the word "bank," "banker," or "banking," or a word or words of	229
similar meaning in any other language, in or as part of a	230
designation or name under which business is or may be conducted if	231
the superintendent determines the name, on its face, is not likely	232
to mislead the public and authorizes the use of the name.	233

(B)(1) Except as provided in division (B)(2) of this section,	234
no person, other than a corporation licensed in accordance with	235
authority granted in Chapter 1111. of the Revised Code as a trust	236
company, a savings and loan association licensed under section	237
1151.348 of the Revised Code to serve as a fiduciary, a national	238
bank with trust powers, or a federal savings association with	239
trust powers, shall do either of the following:	240

(a) Use the word "trust," or a word or words of similar	241
meaning in any other language, in a designation or name, or as any	242
part of a designation or name, under which business is or may be	243
conducted in this state;	244

(b) Otherwise represent itself as a fiduciary or trust	245
company.	246

(2)(a) A person that is not required to be licensed under	247
Chapter 1111. of the Revised Code may serve as a fiduciary and,	248
when acting in that fiduciary capacity, otherwise represent such	249
person as a fiduciary.	250

(b) A person licensed by another state to serve as a	251
fiduciary and exempt from licensure under Chapter 1111. of the	252
Revised Code may serve as a fiduciary to the extent permitted by	253
the exemption.	254

(c) A savings and loan association may serve as a trustee to	255
the extent authorized by section 1151.191 of the Revised Code.	256

(d) A savings bank may serve as a trustee to the extent	257
authorized by section 1161.24 of the Revised Code.	258

(e) A charitable trust, business trust, real estate	259
investment trust, personal trust, or other bona fide trust may use	260
the word "trust" or a word or words of similar meaning in any	261
other language, in a designation or name, or as part of a	262
designation or name, under which business is or may be conducted.	263

(f) A person, whether operating for profit or not, may use	264
"trust" or a word or words of similar meaning in any other	265
language, in a designation or name, or as part of a designation or	266
name, under which business is or may be conducted, if the	267
superintendent determines the name, on its face, is not likely to	268
mislead the public and authorizes the use of the name.	269

(C) No bank shall use "state" as part of a designation or	270
name under which it transacts business in this state, unless the	271
bank is doing business under authority granted by the	272
superintendent or the bank chartering authority of another state.	273

Sec. 1109.15.  (A)(1) Subject to the restrictions and	274
limitations of the Revised Code, a bank may do any of the	275
following:	276

(a) Loan money, with or without security, and payable on	277
demand, at maturity, in installments, or by any combination of	278
these;	279

(b) Issue, advise, and confirm letters of credit authorizing	280
the beneficiaries of the letters to draw upon the bank or its	281
correspondents;	282

(c) Purchase open accounts, whether or not the accounts	283
represent an evidence of debt.	284

(2) Subject to the margin requirements the superintendent of	285
financial institutions may prescribe by rule, a bank may make	286
loans secured by stocks, bonds, or other securities.	287

(B) Subject to sections 1109.22, 1109.32, and 1109.47 of the	288
Revised Code and any rules the superintendent may adopt	289
prescribes, a bank may purchase obligations of any kind with or	290
without recourse.	291

(C) A bank may acquire personal property for lease to others,	292
if the transaction, as a whole, has the character of an extension	293
of credit.	294

(D)(1) Subject to division (D)(2) of this section, any other	295
restrictions and limitations of the Revised Code, and any	296
restrictions or requirements established by the superintendent, a	297
bank may enter into a debt suspension agreement or debt	298
cancellation contract with a borrower or borrowers in connection	299
with any loan or extension of credit.	300

(2) A bank shall not offer or finance, directly or	301
indirectly, a debt suspension agreement or debt cancellation	302
contract requiring a lump sum, single payment for the agreement or	303
contract payable at the outset of the agreement or contract, if	304
the debt subject to the agreement or contract is secured by one to	305
four family, residential real property.	306

(3) For purposes of division (D) of this section, "debt	307
cancellation contract" and "debt suspension agreement" have the	308
same meanings as in 12 C.F.R part 37.	309

(E) Unless otherwise expressly agreed in writing, the	310
relationship between a bank and its obligor, with respect to any	311
extension of credit, is that of a creditor and debtor, and creates	312
no fiduciary or other relationship between the parties.	313

Sec. 1109.43.  (A) For purposes of this section:

314

(1) "Bankers' bank" means a bank organized to engage	315
exclusively in providing services to other depository institutions	316
and depository institution holding companies and their officers,	317
directors, and employees.	318

(2) "Bankers' bank holding company" means a corporation that	319
owns or controls, directly or indirectly, a majority of the shares	320
of the capital stock of a bankers' bank, or controls in any manner	321
the election of a majority of the directors of a bankers' bank.	322

(3) "Depository institution" means a bank, savings and loan	323
association, savings bank, or credit union.	324

(B) A bank may invest, in the aggregate, up to ten per cent	325
of its stated capital and surplus in shares of a bankers' bank or	326
a bankers' bank holding company, or both.	327

(C)(1) The voting shares of a bankers' bank shall be owned by	328
twenty or more depository institutions or depository institution	329
holding companies, and no depository institution or depository	330
institution holding company shall own, directly or indirectly,	331
more than fifteen per cent of the voting shares of a bankers'	332
bank.	333

(2) The voting shares of a bankers' bank shall be owned,	334
directly or indirectly, exclusively by depository institutions,	335
depository institution holding companies, and persons who hold the	336
shares under, or initially acquired them through, a plan for the	337
benefit of the bankers' bank's officers and employees.	338

(D) No bank or affiliate of a bank shall, directly,	339
indirectly, or acting through one or more other persons, own or	340
control or have the power to vote shares of any of the following:	341

(1) More than one bankers' bank;

342

(2) More than one bankers' bank holding company;

343

(3) Both a bankers' bank and a bankers' bank holding company,	344
unless the bankers' bank is an affiliate of that bankers' bank	345
holding company.	346

Sec. 1111.02.  (A) Except as provided in divisions (B) and	347
(C) of this section, no person shall solicit or engage in trust	348
business in this state except a corporation that is one of the	349
following:	350

(1) A corporation licensed under section 1111.06 of the	351
Revised Code that is one of the following:	352

(a) A bank doing business under authority granted by the	353
superintendent of financial institutions;	354

(b) A savings and loan association doing business under	355
authority granted by the superintendent of financial institutions;	356

(c) A savings bank doing business under authority granted by	357
the superintendent of financial institutions;	358

(d) A bank authorized to accept and execute trusts and doing	359
business under authority granted by the bank chartering authority	360
of another state or country;	361

(c)(e) A corporation organized under the laws of another	362
state or country and authorized to accept and execute trusts in	363
that state or country.	364

(2) A bank authorized to accept and execute trusts and doing	365
business under authority granted by the comptroller of the	366
currency;	367

(3) A savings association authorized to accept and execute	368
trusts and doing business under authority granted by the office of	369
thrift supervision;	370

(4) A savings and loan association licensed under section	371
1151.348 of the Revised Code.	372

(B) This chapter shall not apply to any of the following:

373

(1) A savings and loan association serving as a trustee to	374
the extent authorized by section 1151.191 of the Revised Code;	375

(2) A savings bank serving as a trustee to the extent	376
authorized by section 1161.24 of the Revised Code;	377

(3) A corporation that is incorporated under the laws of	378
another state or the United States, has its principal place of	379
business in another state, is currently qualified to do and is	380
engaging in trust business in the state where the corporation has	381
its principal place of business, and is doing any of the	382
following:	383

(a) Serving as ancillary executor or administrator of	384
property in this state that is in the estate of a decedent, after	385
appointment as executor or administrator of the estate by the	386
courts of the decedent's state of residence;	387

(b) As trustee, acquiring, holding, or transferring a	388
security interest in lands or other property in this state, by	389
mortgage, deed of trust, or other instrument, to secure any	390
evidence of indebtedness;	391

(c) Certifying to any evidence of indebtedness.

392

(C) The following persons shall not be subject to this	393
chapter until July 1, 1997:	394

(1) Any person, other than a person described in division (A)	395
or (B) of this section, that is serving as a fiduciary under a	396
trust instrument, will, or other document executed before July 1,	397
1997;	398

(2) Any person, other than a person described in division (A)	399
or (B) of this section, that is named as a fiduciary in, or is	400
nominated as a fiduciary under, a trust instrument, will, or other	401
document executed before July 1, 1997.	402

Sec. 1111.04.  (A) Prior to soliciting or engaging in trust	403
business in this state, a trust company shall pledge to the	404
treasurer of state interest bearing securities authorized in	405
division (B) of this section, having a par value, not including	406
unaccrued interest, of one hundred thousand dollars, and approved	407
by the superintendent of financial institutions. The trust company	408
may pledge the securities either by delivery to the treasurer of	409
state or by placing the securities with a qualified trustee for	410
safekeeping to the account of the treasurer of state, the	411
corporate fiduciary, and any other person having an interest in	412
the securities under Chapter 1109. of the Revised Code, as their	413
respective interests may appear and be asserted by written notice	414
to or demand upon the qualified trustee or by order of judgment of	415
a court.	416

(B) Securities pledged by a trust company to satisfy the	417
requirements of division (A) of this section shall be one or more	418
of the following:	419

(1) Bonds, notes, or other obligations of or guaranteed by	420
the United States or for which the full faith and credit of the	421
United States is pledged for the payment of principal and	422
interest;	423

(2) Bonds, notes, debentures, or other obligations or	424
securities issued by any agency or instrumentality of the United	425
States;	426

(3) General obligations of this or any other state of the	427
United States or any subdivision of this or any other state of the	428
United States.	429

(C) The treasurer of state shall accept delivery of	430
securities pursuant to this section when accompanied by the	431
superintendent's approval of the securities or the written receipt	432
of a qualified trustee describing the securities and showing the	433
superintendent's approval of the securities, and shall issue a	434
written acknowledgment of the delivery of the securities or the	435
qualified trustee's receipt and the superintendent's approval to	436
the trust company.	437

(D) The superintendent shall approve securities to be pledged	438
by a trust company pursuant to this section if the securities are	439
all of the following:	440

(1) Interest bearing and of the value required by division	441
(A) of this section;	442

(2) Of one or more of the kinds authorized by division (B) of	443
this section and not a derivative of or merely an interest in any	444
of those securities;	445

(3) Not in default.

446

(E) The treasurer of state shall, with the approval of the	447
superintendent, permit a trust company to pledge securities in	448
substitution for securities pledged pursuant to this section and	449
the withdrawal of the securities substituted for so long as the	450
securities remaining pledged satisfy the requirements of division	451
(A) of this section. The treasurer of state shall permit a trust	452
company to collect interest paid on securities pledged pursuant to	453
this section so long as the trust company is solvent. The	454
treasurer of state shall, with the approval of the superintendent,	455
permit a trust company to withdraw securities pledged pursuant to	456
this section when the trust company has ceased to solicit or	457
engage in trust business in this state.	458

(F) For purposes of this section, a qualified trustee is a	459
federal reserve bank located in this state, a branch of a federal	460
reserve bank located in this state regardless of where the branch	461
is located, a federal home loan bank, or a trust company as	462
defined in section 1101.01 of the Revised Code, a bank that has	463
pledged securities pursuant to this section, is authorized to	464
accept and execute trusts, and is doing business under authority	465
granted by the comptroller of currency, or a savings association	466
that has pledged securities pursuant to this section, is	467
authorized to accept and execute trusts, and is doing business	468
under authority granted by the office of thrift supervision except	469
that a bank doing business under authority granted by the	470
comptroller of the currency, a savings association doing business	471
under authority granted by the office of thrift supervision, or a	472
trust company may not act as a qualified trustee for securities it	473
or any of its affiliates is pledging pursuant to this section.	474

(G) The superintendent, with the approval of the treasurer of	475
state and the attorney general, shall prescribe the form of all	476
receipts and acknowledgments provided for by this section, and	477
upon request shall furnish a copy of each form, with the	478
superintendent's certification attached, to each qualified trustee	479
eligible to hold securities for safekeeping under this section.	480

Sec. 1111.06.  (A) Any person, other than a savings and loan	481
association eligible to be licensed under section 1151.348 of the	482
Revised Code, a national bank with trust powers, or a federal	483
savings association with trust powers, proposing to solicit or	484
engage in trust business in this state shall apply to the	485
superintendent of financial institutions to be licensed as a trust	486
company. The superintendent shall approve or disapprove the	487
application within sixty days after accepting it.	488

(B) In determining whether to approve or disapprove an	489
application for a trust company license, the superintendent shall	490
consider all of the following:	491

(1) Whether the applicant is a corporation described in	492
division (A)(1) of section 1111.02 of the Revised Code;	493

(2) Whether the applicant's articles of incorporation or	494
association authorize the applicant to serve as a trustee;	495

(3) If the applicant is not a bank, savings and loan	496
association, or savings bank doing business under authority	497
granted by the superintendent, whether the applicant is currently	498
qualified to do and is engaging in trust business in the state or	499
country under the laws of which the applicant is organized;	500

(4) Whether the applicant satisfies the requirements of	501
section 1111.05 of the Revised Code;	502

(5) Whether it is reasonable to believe the applicant will	503
comply with applicable laws and observe sound fiduciary standards	504
in conducting trust business in this state;	505

(6) If the applicant is not a bank, savings and loan	506
association, or savings bank doing business under authority	507
granted by the superintendent, whether the applicant is subject to	508
comprehensive supervision and regulation of its fiduciary	509
activities by appropriate authorities of the state or country	510
under the laws of which the applicant is organized.	511

(C) In approving an application for a trust company license,	512
the superintendent may impose any condition the superintendent	513
determines to be appropriate.	514

(D) When an applicant has satisfied all prior conditions	515
imposed by the superintendent in approving the applicant's	516
application for a trust company license and has pledged securities	517
as required by section 1111.04 of the Revised Code, the	518
superintendent shall issue the applicant a trust company license.	519
A license issued pursuant to this section shall remain in force	520
and effect until surrendered by the licensee pursuant to section	521
1111.31 of the Revised Code or suspended or revoked by the	522
superintendent pursuant to section 1111.32 of the Revised Code.	523

Sec. 1111.07.  (A) A trust company's license to solicit or	524
engage in trust business in this state is not transferable or	525
assignable.	526

(B) Subject to section 2109.28 of the Revised Code, if any	527
trust company enters into a merger or consolidation in which the	528
trust company is not the surviving corporation, or transfers all	529
or substantially all of its assets and liabilities to another	530
corporation, the resulting, surviving, or transferee corporation	531
shall succeed the trust company as fiduciary as a matter of law	532
and without necessity to do anything further, if the resulting,	533
surviving, or transferee corporation is a trust company, a	534
national bank authorized to accept and execute trusts and doing	535
business under authority granted by the comptroller of the	536
currency, or a federal savings association authorized to accept	537
and execute trusts and doing business under authority granted by	538
the office of thrift supervision, or a savings and loan	539
association licensed under section 1151.348 of the Revised Code.	540
If the trust company is not the surviving corporation of a merger,	541
enters a consolidation, or after transferring substantially all of	542
its assets and liabilities ceases to solicit or engage in trust	543
business in this state, the trust company shall surrender its	544
trust company license in accordance with section 1111.31 of the	545
Revised Code.	546

Sec. 1111.08.  (A) A trust company, a national bank	547
authorized to accept and execute trusts and doing business under	548
authority granted by the comptroller of the currency, or a federal	549
savings association authorized to accept and execute trusts and	550
doing business under authority granted by the office of thrift	551
supervision may transfer all or part of its trust business in this	552
state to another trust company, to a national bank authorized to	553
accept and execute trusts and doing business under authority	554
granted by the comptroller of the currency, or to a federal	555
savings association authorized to accept and execute trusts and	556
doing business under authority granted by the office of thrift	557
supervision, if all of the following have occurred:	558

(1) Not less than sixty days before consummation of the	559
transfer, either the transferor or transferee, or both, for each	560
fiduciary account or relationship to be transferred, has given	561
written notice, by regular mail to the most recent address shown	562
on the records of the transferor, to all of the following that	563
apply:	564

(a) Each court having jurisdiction over the fiduciary account	565
or relationship;	566

(b) Each cofiduciary of the fiduciary account or	567
relationship;	568

(c) Each surviving settlor of the trust;

569

(d) Each person that, alone or in conjunction with others,	570
has the power to remove the trust company as fiduciary or appoint	571
a successor fiduciary;	572

(e) Except in the case of a trust described in section 401(a)	573
of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26	574
U.S.C.A. 401(a), as amended, each adult beneficiary currently	575
receiving or entitled as a matter of right to receive a	576
distribution of principal or income from the trust, estate, or	577
fund;	578

(f) In the case of a trust described in section 401(a) of the	579
"Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A.	580
401(a), as amended, the employer or employee organization, or	581
both, responsible for the maintenance of the trust.	582

(2) The transferor has filed a certified copy of the	583
agreement for the sale with the superintendent of financial	584
institutions.	585

(B)(1) The transfer of a fiduciary account or relationship	586
pursuant to division (A) of this section results in the transferee	587
being substituted for the transferor as fiduciary as a matter of	588
law and without necessity to do anything further.	589

(2) The transfer of a fiduciary account or relationship	590
pursuant to division (A) of this section does neither of the	591
following:	592

(a) Impair the right of any person that, alone or in	593
conjunction with others, has the power to remove a fiduciary or	594
appoint a successor fiduciary;	595

(b) Absolve or discharge a transferor from any liability	596
arising out of its breach of any fiduciary duty or obligation to	597
the account prior to the transfer.	598

Sec. 1121.30.  (A) All assessments, fees, charges, and	599
forfeitures provided for in Chapters 1101. to 1127. and sections	600
1315.02, 1315.10, and 1315.161315.01 to 1315.18 of the Revised	601
Code, except civil penalties assessed pursuant to section 1121.35	602
or 1315.152 of the Revised Code, shall be paid to the	603
superintendent of financial institutions, and the superintendent	604
shall deposit them into the state treasury to the credit of the	605
banks fund, which is hereby created.	606

(B) The superintendent may expend or obligate the banks fund	607
to defray the costs of the division of financial institutions in	608
administering Chapters 1101. to 1127. and sections 1315.01 to	609
1315.11 and 1315.16 to 1315.18 of the Revised Code. The	610
superintendent shall pay from the fund all actual and necessary	611
expenses incurred by the superintendent, including for any	612
services rendered by the department of commerce for the division's	613
administration of Chapters 1101. to 1127. and sections 1315.01 to	614
1315.11 and 1315.16 to 1315.18 of the Revised Code. The fund	615
shall be assessed a proportionate share of the administrative	616
costs of the department and the division of financial	617
institutions. The proportionate share of the administration costs	618
of the division of financial institutions shall be determined in	619
accordance with procedures prescribed by the superintendent and	620
approved by the director of budget and management. The amount	621
assessed for the fund's proportional share of the department's	622
administrative costs and the division's administrative costs shall	623
be paid from the banks fund to the division of administration fund	624
and the division of financial institutions fund respectively.	625

(C) Any money deposited into the state treasury to the credit	626
of the banks fund, but not expended or encumbered by the	627
superintendent to defray the costs of administering Chapters 1101.	628
to 1127. and sections 1315.01 to 1315.11 and 1315.16 to 1315.18 of	629
the Revised Code, shall remain in the banks fund for expenditures	630
by the superintendent in subsequent years.	631

Sec. 1151.14. The board of directors of every(A)(1) A	632
savings and loan association shall hold a regular meeting, at	633
least once in each month, at a day and hour fixed by resolution of	634
the board. Written notice of every special meeting of the board	635
shall be given to each director unless the notice is waived. When	636
any regular or special meeting is adjourned, notice of the	637
adjourned meeting and of the business to be transacted at such	638
adjourned meeting shall be given. A complete record of the board's	639
proceedings shall be kept in a minute book. The vote of each	640
director upon each question shall be recorded in the minutes.	641
association's board of directors shall meet monthly unless the	642
savings and loan association's constitution provides for a	643
different frequency of meetings, which shall not be less than	644
quarterly.	645

(2) Division (A)(1) of this section does not prohibit either	646
of the following:	647

(a) More frequent meetings of a savings and loan	648
association's board of directors than required by division (A)(1)	649
of this section;	650

(b) The superintendent of financial institutions requiring a	651
savings and loan association's board of directors to meet more	652
frequently than required by division (A)(1) of this section if the	653
superintendent determines more frequent meetings are appropriate	654
because of circumstances regarding the savings and loan	655
association.	656

(B) A savings and loan association's constitution may	657
authorize the board of directors to do both of the following:	658

(1) Create an executive committee or any other committee of	659
the board of directors, each consisting of at least three	660
directors;	661

(2) Delegate to an executive committee or other committee of	662
the board of directors described in division (B)(1) of this	663
section, any authority of the board of directors, however	664
conferred, other than the authority to fill vacancies on the board	665
of directors or to fill vacancies on a committee of the board of	666
directors.	667

(C) All of the following apply to any executive committee or	668
other committee described in division (B) of this section:	669

(1) The board of directors may appoint one or more of the	670
directors as alternate members of a committee of the board of	671
directors to take the place of any absent member at any meeting of	672
the committee of the board of directors.	673

(2) Each committee of the board of directors serves at the	674
pleasure of the board of directors, acts only in intervals between	675
meetings of the board of directors, and is subject to the control	676
and direction of the board of directors.	677

(3) Unless otherwise provided in the constitution or ordered	678
by the board of directors, a committee of the board of directors	679
may act by a majority of its members at a meeting or by a writing	680
or writings signed by all of its members.	681

(4) An act or authorization of an act by a committee of the	682
board of directors that is within the authority delegated to the	683
committee is as effective for all purposes as an act or	684
authorization of an act done by the board of directors.	685

Sec. 1151.321. A building(A) Except as provided in division	686
(B) of this section, a savings and loan association may cancel	687
loans mentioned in sections 1151.29 to 1151.32, inclusive, of the	688
Revised Code, and release the securities for them on such terms as	689
its board of directors provides.	690

(B)(1) Subject to division (B)(2) of this section and any	691
restrictions or requirements established by the superintendent of	692
financial institutions, in connection with any loan or extension	693
of credit, a savings and loan association may enter into a debt	694
suspension agreement or debt cancellation contract with the	695
borrower or borrowers.	696

(2) A savings and loan association shall not offer or	697
finance, directly or indirectly, a debt suspension agreement or	698
debt cancellation contract requiring a lump sum, single payment	699
for the agreement or contract payable at the outset of the	700
agreement or contract, if the debt subject to the agreement or	701
contract is secured by one to four family, residential real	702
property.	703

(3) For purposes of division (B) of this section, "debt	704
cancellation contract" and "debt suspension agreement" have the	705
same meanings as in 12 C.F.R part 37.	706

Sec. 1151.348. (A) A savings and loan association authorized	707
to do business by the division of financial institutions pursuant	708
to Chapters 1151. to 1157. of the Revised Code may engage in trust	709
business after obtaining a license under section 1111.06 of the	710
Revised Code.	711

(B) Except as provided in division (C) of this section, a	712
savings and loan association that is licensed under section	713
1111.06 of the Revised Code is a trust company as defined in	714
division (S) of section 1101.01 of the Revised Code for purposes	715
of Chapter 1111. of the Revised Code and of all laws applicable to	716
a trust company.	717

(C) The division shall supervise any savings and loan	718
association licensed as a trust company under Chapter 1111. of the	719
Revised Code pursuant to Chapters 1151. to 1157. of the Revised	720
Code, except that the division may apply provisions in Chapter	721
1111. of the Revised Code in the case of a voluntary or forced	722
liquidation of a savings and loan association's trust business.	723

Sec. 1161.18. The(A)(1) A savings bank's board of directors	724
of every savings bank shall hold a regular meeting, at least once	725
each month, at a day and hour fixed by resolution of the board.	726
Written notice of every special meeting of the board shall be	727
given to each director unless the notice is waived. When any	728
regular or special meeting is adjourned, notice of the adjourned	729
meeting and of the business to be transacted at the adjourned	730
meeting shall be given. A complete record of the board's	731
proceedings shall be kept in a minute book. The vote of each	732
director upon each question shall be recorded in the minutes.	733
shall meet monthly unless the savings bank's constitution provides	734
for a different frequency of meetings, which shall not be less	735
than quarterly.	736

(2) Division (A)(1) of this section does not prohibit either	737
of the following:	738

(a) More frequent meetings of a savings bank's board of	739
directors than required by division (A)(1) of this section;	740

(b) The superintendent of financial institutions requiring a	741
savings bank's board of directors to meet more frequently than	742
required by division (A)(1) of this section if the superintendent	743
determines more frequent meetings are appropriate because of	744
circumstances regarding the savings bank.	745

(B) A savings bank's constitution may authorize the board of	746
directors to do both of the following:	747

(1) Create an executive committee or any other committee of	748
the board of directors, each consisting of at least three	749
directors;	750

(2) Delegate to an executive committee or other committee of	751
the board of directors described in division (B)(1) of this	752
section, any authority of the board of directors, however	753
conferred, other than the authority to fill vacancies on the board	754
of directors or to fill vacancies on a committee of the board of	755
directors.	756

(C) All of the following apply to any executive committee or	757
other committee described in division (B) of this section:	758

(1) The board of directors may appoint one or more of the	759
directors as alternate members of a committee of the board of	760
directors to take the place of any absent member at any meeting of	761
the committee of the board of directors.	762

(2) Each committee of the board of directors serves at the	763
pleasure of the board of directors, acts only in intervals between	764
meetings of the board of directors, and is subject to the control	765
and direction of the board of directors.	766

(3) Unless otherwise provided in the constitution or ordered	767
by the board of directors, a committee of the board of directors	768
may act by a majority of its members at a meeting or by a writing	769
or writings signed by all of its members.	770

(4) An act or authorization of an act by a committee of the	771
board of directors that is within the authority delegated to the	772
committee is as effective for all purposes as an act or	773
authorization of an act done by the board of directors.	774

Sec. 1161.51. A(A) Except as provided in division (B) of	775
this section, a savings bank may cancel loans mentioned in	776
sections 1161.36 to 1161.50 of the Revised Code, and release the	777
securities for them on such terms as its board of directors	778
provides.	779

(B)(1) Subject to division (B)(2) of this section and any	780
restrictions or requirements established by the superintendent of	781
financial institutions, in connection with any loan or extension	782
of credit, a savings bank may enter into a debt suspension	783
agreement or debt cancellation contract with the borrower or	784
borrowers.	785

(2) A savings bank shall not offer or finance, directly or	786
indirectly, a debt suspension agreement or debt cancellation	787
contract requiring a lump sum, single payment for the agreement or	788
contract payable at the outset of the agreement or contract, if	789
the debt subject to the agreement or contract is secured by one to	790
four family, residential real property.	791

(3) For purposes of division (B) of this section, "debt	792
cancellation contract" and "debt suspension agreement" have the	793
same meanings as in 12 C.F.R part 37.	794

Sec. 1161.601. (A) A savings bank authorized to do business	795
by the division of financial institutions pursuant to Chapters	796
1161. to 1165. of the Revised Code may engage in trust business	797
after obtaining a license under section 1111.06 of the Revised	798
Code.	799

(B) Except as provided in division (C) of this section, a	800
savings bank that is licensed under section 1111.06 of the Revised	801
Code is a trust company as defined in division (S) of section	802
1101.01 of the Revised Code for purposes of Chapter 1111. of the	803
Revised Code and of all laws applicable to a trust company.	804

(C) The division shall supervise any savings bank licensed as	805
a trust company under Chapter 1111. of the Revised Code pursuant	806
to Chapters 1161. to 1165. of the Revised Code, except that the	807
division may apply provisions in Chapter 1111. of the Revised Code	808
in the case of a voluntary or forced liquidation of a savings	809
bank's trust business.	810

Sec. 1181.06.  There is hereby created in the state treasury	811
the financial institutions fund. The fund shall receive	812
assessments on the banks fund established under section 1125.28	813
1121.30 of the Revised Code, the savings institutions fund	814
established under section 1181.18 of the Revised Code, the credit	815
unions fund established under section 1733.321 of the Revised	816
Code, and the consumer finance fund established under section	817
1321.21 of the Revised Code in accordance with procedures	818
prescribed by the superintendent of financial institutions and	819
approved by the director of budget and management. Such	820
assessments shall be in addition to any assessments on these funds	821
required under division (G) of section 121.08 of the Revised Code.	822
All operating expenses of the division of financial institutions	823
shall be paid from the financial institutions fund.	824

Sec. 1181.25. The superintendent of financial institutions	825
may introduce into evidence or disclose, or authorize to be	826
introduced into evidence or disclosed, information that, under	827
sections 1121.18, 1155.16, 1163.20, 1315.122, 1321.09, 1321.55,	828
1321.76, 1322.06, 1322.061, 1733.32, 1733.327, and 4727.18 of the	829
Revised Code, is privileged, confidential, or otherwise not public	830
information or a public record, provided that the superintendent	831
acts only as provided in those sections or in the following	832
circumstances:	833

(A) When in the opinion of the superintendent, it is	834
appropriate with regard to any enforcement actions taken and	835
decisions made by the superintendent under Chapters 1315., 1321.,	836
1322., 1733., 4712., 4727., and 4728. of the Revised Code or Title	837
XI of the Revised Code;	838

(B) When litigation has been initiated by the superintendent	839
in furtherance of the powers, duties, and obligations imposed upon	840
the superintendent by Chapters 1315., 1321., 1322., 1733., 4712.,	841
4727., and 4728. of the Revised Code or Title XI of the Revised	842
Code;	843

(C) When in the opinion of the superintendent, it is	844
appropriate with regard to enforcement actions taken or decisions	845
made by other financial institution regulatory authorities to whom	846
the superintendent has provided the information pursuant to	847
authority in Chapters 1315., 1321., 1322., 1733., 4712., 4727.,	848
and 4728. of the Revised Code or Title XI of the Revised Code.	849

Sec. 1315.01.  Except when the context otherwise requires, as	850
used in sections 1315.01 to 1315.18 of the Revised Code:	851

(A) "Authorized delegate" means a person designated by a	852
licensee under section 1315.11 of the Revised Code to receive,	853
directly or indirectly, money or its equivalent for transmission	854
by the licensee.	855

(B) "Control" means the power, directly or indirectly, to	856
direct the management and policies of a licensee or the ownership,	857
control of, or power to vote twenty-five per cent or more of any	858
class of the outstanding voting securities of a controlling	859
person. For purposes of determining the percentage of a licensee	860
controlled by any person, the person's interest shall be	861
aggregated with the interest of any other person controlled by the	862
person or by any spouse, parent, or child of the person.	863

(C) "Controlling person" means any person that controls a	864
licensee.	865

(D) "Executive officer" means the licensee's president,	866
treasurer, secretary, each senior officer responsible for the	867
licensee's business, and any other person that performs similar	868
functions.	869

(E) "Licensee" means a person licensed under sections 1315.01	870
to 1315.18 of the Revised Code to receive, directly or indirectly,	871
for transmission, money or its equivalent from persons located in	872
this state.	873

(F) "Outstandings" means the total of all moneys received for	874
transmission that are not yet delivered, paid, or accessed.	875

(G) "Transmit money" means to receive, directly or indirectly	876
and by any means, money or its equivalent from a person and to	877
deliver, pay, or make accessible, by any means, method, manner, or	878
device, whether or not a payment instrument is used, the money	879
received or its equivalent to the same or another person, at the	880
same or another time, and at the same or another place, but does	881
not include transactions in which the recipient of the money or	882
its equivalent is the principal or authorized representative of	883
the principal in a transaction for which the money or its	884
equivalent is received, other than the transmission of money or	885
its equivalent. "Transmit money" also includes the sale of checks	886
and other payment instruments.	887

Sec. 1315.02.  (A) No person, regardless of the location of	888
that person, its facilities, or its agents, shall receive,	889
directly or indirectly and by any means, money or its equivalent	890
for transmission from a person located in this state, unless that	891
person receiving the money or its equivalent for transmission is a	892
licensee, an authorized delegate of a licensee that is not itself	893
required to be licensed under division (B) of this section, or is	894
one of the following:	895

(1) The United States or any department, agency, or	896
instrumentality of the United States;	897

(2) The United States postal service;

898

(3) A state of the United States or any political subdivision	899
of a state of the United States;	900

(4) A bank, credit union, savings and loan association,	901
savings association, or savings bank organized under the laws of	902
the United States or any state of the United States or doing	903
business under a license granted under Chapter 1119. of the	904
Revised Code, a subsidiary or affiliate of a bank, savings and	905
loan association, or savings bank, a credit union service	906
organization, or an authorized representative of any of these;	907

(5) A contractor providing electronic transfer of government	908
benefits on behalf of the United States or any department, agency,	909
or instrumentality of the United States or on behalf of any state	910
or any political subdivision of any state of the United States;	911

(6) A person the only money transmitter activity of which is	912
to deliver payroll money on behalf of employers to employees by	913
check or deposit in a checking or savings account at a bank,	914
savings bank, savings and loan association, savings association,	915
or credit union;	916

(7) A person the only money transmitter activity of which is	917
to accept prepayment for future purchases of that person's goods	918
or services that are other than money transmitter services;	919

(8) A licensed securities, insurance, mortgage, or real	920
estate broker or agent acting within the scope of its license;	921

(9) A person the only money transmitter activity of which is	922
receiving money or its equivalent as an intermediary facilitating	923
the closing of a sale of property or a loan;	924

(10) A retail seller of goods and services the only money	925
transmitter activities of which are receipt of money or its	926
equivalent from and to be delivered at the direction of an obligor	927
on a credit card account for a credit card to be used solely for	928
purchases from that retail seller or branded with the name of that	929
retail seller or an affiliate of that retail seller;	930

(11) A person, the regulation of money transmitter activities	931
under sections 1315.01 to 1315.18 of the Revised Code of which,	932
the superintendent of financial institutions determines would not	933
serve the intended purposes of the regulation.	934

(B) No authorized delegate of a licensee also shall do	935
accounting, verification, or reconciliation of transmissions	936
completed or bank statements for a licensee, unless the authorized	937
delegate also is a licensee.	938

Sec. 1315.03. (A) Each application for a money transmitter	939
license shall be in the form prescribed by the superintendent of	940
financial institutions and accompanied by an application fee	941
established in section 1315.13 of the Revised Code.	942

(B)(1) The superintendent shall approve or deny every	943
application for a license under this section within one hundred	944
eighty days after the date that the superintendent accepts the	945
application as complete, unless the applicant has, by written	946
consent, agreed to a longer time for the superintendent to make a	947
determination on the application.	948

(2) Subject to division (D) of this section, an application	949
is not complete and the superintendent shall not accept it for	950
processing until the applicant pays the application fee described	951
in division (A) of this section. The time described in division	952
(B)(1) of this section in which the superintendent must make a	953
determination on an application does not begin until the	954
superintendent has determined that the application is complete and	955
has accepted it for processing.	956

(3) A determination by the superintendent that an application	957
is complete and is accepted for processing means only that the	958
application, on its face, appears to include all of the items and	959
to address all of the matters that are required, and is not an	960
assessment of the substance of the application or of the	961
sufficiency of the information provided.	962

(C)(1) The superintendent may grant confidential treatment	963
for information in or related to an application described in	964
division (A) of this section, if confidential treatment is	965
requested by the applicant in compliance with division (C)(2) of	966
this section and any of the following applies:	967

(a) The information is of a commercial or financial nature,	968
disclosure of which likely would result in substantial harm to the	969
competitive position of the applicant or its affiliates or to any	970
party to the transaction or its affiliates.	971

(b) The information is of a personal, medical, financial, or	972
similar nature, disclosure of which would result in a clearly	973
unwarranted invasion of personal privacy.	974

(c) The information is contained in, related to, or derived	975
from examinations, operating or condition reports, agreements,	976
orders, or actions prepared by, on behalf of, or for the use of a	977
governmental agency or authority.	978

(d) The information has been filed with a governmental agency	979
or authority and has not been approved for disclosure by that	980
agency or authority.	981

(e) The information specifically is excepted from disclosure	982
by statute.	983

(2)(a) An applicant requesting confidential treatment under	984
division (C) of this section shall do so in writing at the time	985
that the application containing the information, or additional	986
information related to an application, is submitted.	987

(b) The request described in division (C)(2)(a) of this	988
section separately shall address each item of information for	989
which confidential treatment is requested, explaining the	990
applicability of the asserted justification for confidential	991
treatment and either specifically demonstrating the harm that	992
would result from public disclosure of the item of information or	993
setting forth the reason that the applicant cannot authorize	994
public disclosure of the item of information.	995

(c) The applicant separately shall bind and identify all	996
items of information for which confidential treatment is requested	997
under division (C) of this section and shall make specific	998
reference to those items in the remainder of the application or	999
additional information related to the application.	1000

(3)(a) The superintendent shall review a request for	1001
confidential treatment under division (C) of this section and	1002
provide the applicant with written notice of the superintendent's	1003
decision on granting confidential treatment for each item of	1004
information for which it is requested.	1005

(b) If the superintendent's decision provided pursuant to	1006
division (C)(3)(a) of this section is not to grant confidential	1007
treatment to an item of information, the applicant may withdraw	1008
the item of information by written notice within ten days after	1009
the applicant's receipt of the superintendent's decision. If the	1010
applicant fails to withdraw the item of information within the	1011
ten-day period, the applicant is deemed to have waived the right	1012
to withdraw, and the item of information is a part of the	1013
application available to the public.	1014

(4)(a) An item of information submitted with a request for	1015
confidential treatment under division (C) of this section is not	1016
deemed filed with the superintendent until the superintendent	1017
grants confidential treatment or the applicant is deemed to have	1018
waived the right to withdraw the item of information.	1019

(b) Until the item of information submitted with a request	1020
for confidential treatment is filed in accordance with division	1021
(C)(4)(a) of this section, no person shall copy or inspect the	1022
item of information or anything derived from the item of	1023
information, except as necessary to assist the superintendent in	1024
deciding whether to grant confidential treatment to the item of	1025
information in accordance with division (C) of this section.	1026

(5) When an item of information is filed following the	1027
superintendent's decision to grant it confidential treatment	1028
pursuant to division (C)(3)(a) of this section, the item of	1029
information is not a public record as defined in section 149.43 of	1030
the Revised Code and only the superintendent shall use it in	1031
connection with the performance of the duties and exercise of the	1032
powers of the superintendent. Without prior notice to the	1033
applicant, the superintendent may disclose or comment on any of	1034
the contents of the application in an order, statement, or opinion	1035
issued by the superintendent in connection with a decision on the	1036
application.	1037

(D) Division (B)(2) of this section does not prohibit either	1038
of the following:	1039

(1) The superintendent denying an application described in	1040
division (A) of this section prior to the superintendent's	1041
acceptance of the application for processing, on the basis that	1042
the applicant failed to include all of the items and address all	1043
of the issues required for the application, if both of the	1044
following apply:	1045

(a) The superintendent advised the applicant that the	1046
application was incomplete.	1047

(b) After being advised by the superintendent pursuant to	1048
division (D)(1)(a) of this section that the application was	1049
incomplete, the applicant did not, within a reasonable period of	1050
time, complete the application.	1051

(2) The superintendent denying an application described in	1052
division (A) of this section on the basis that the applicant	1053
failed to provide the information necessary for the superintendent	1054
to consider the application adequately after the superintendent's	1055
acceptance of the application for processing, if both of the	1056
following apply:	1057

(a) After beginning to process the application, the	1058
superintendent determined and advised the applicant additional	1059
information was necessary to consider the application adequately.	1060

(b) After the superintendent advised the applicant pursuant	1061
to division (D)(2)(a) of this section that additional information	1062
was necessary to consider the application adequately, the	1063
applicant did not, within a reasonable period of time, provide	1064
that information.	1065

Sec. 1315.04.  (A)(1) After accepting an application for a	1066
money transmitter license described in section 1315.03 of the	1067
Revised Code, the superintendent of financial institutions shall	1068
examine all the facts and circumstances relating to the	1069
application.	1070

(2) At the applicant's expense, the superintendent may	1071
conduct an on-site examination of the applicant's books, records,	1072
and operations. If the superintendent requests, the applicant	1073
shall advance to the superintendent the superintendent's estimate	1074
of the cost of the on-site examination, with any unconsumed	1075
portion to be returned to the applicant.	1076

(3) The applicant shall pay the cost of its examination	1077
described in division (A) of this section, or any balance of the	1078
cost of its examination in the case of an applicant that advanced	1079
the estimated cost of its examination, within fourteen days after	1080
receiving an invoice for payment.	1081

(B) In making a determination on an application described in	1082
division (A)(1) of this section, the superintendent shall consider	1083
all of the following:	1084

(1) The applicant's financial condition;

1085

(2) The applicant's business practices;

1086

(3) The applicant's and its directors', executive officers',	1087
and controlling persons' experience, competence, character, and	1088
history of compliance with applicable laws.	1089

(C) The superintendent shall not approve an application	1090
described in division (A)(1) of this section if the applicant does	1091
not meet both of the following requirements:	1092

(1) The applicant is a legally established business entity	1093
that is capitalized separately and distinctly from every other	1094
legal entity and is qualified to do business in this state.	1095

(2) The applicant has a minimum net worth of not less than	1096
five hundred thousand dollars, calculated according to generally	1097
accepted accounting principles, but excluding any assets that the	1098
superintendent disqualifies and including any off-balance sheet	1099
liabilities that the superintendent requires.	1100

(D)(1) In approving an application for a money transmitter	1101
license, the superintendent may impose any condition the	1102
superintendent determines to be appropriate.	1103

(2) When an applicant has satisfied all prior conditions	1104
imposed by the superintendent in approving the applicant's	1105
application for a money transmitter license and has provided a	1106
security device as required by section 1315.07 of the Revised	1107
Code, the superintendent shall issue the applicant a money	1108
transmitter license. A license issued pursuant to this section	1109
remains in force and effect until surrendered by the licensee	1110
pursuant to section 1315.18 of the Revised Code or suspended or	1111
revoked by the superintendent pursuant to section 1315.151 of the	1112
Revised Code.	1113

(E) On or before the first day of July of each year, each	1114
licensee shall pay to the superintendent an annual fee for	1115
carrying on the business as a money transmitter, which fee is	1116
established by the superintendent pursuant to division (B) of	1117
section 1315.13 of the Revised Code.	1118

Sec. 1315.05. Each licensee, at all times, shall meet both of	1119
the following requirements:	1120

(A) Be a legally established business entity that is	1121
capitalized separately and distinctly from every other legal	1122
entity and qualified to do business in this state;	1123

(B) Have a minimum net worth of not less than five hundred	1124
thousand dollars, calculated according to generally accepted	1125
accounting principles, but excluding any assets that the	1126
superintendent of financial institutions disqualifies and	1127
including any off-balance sheet liabilities that the	1128
superintendent requires.	1129

(C) No licensee shall fail to comply with this section.

1130

Sec. 1315.06. (A)(1)(a) Subject to division (A)(2) of this	1131
section, each licensee shall maintain permissible investments	1132
described in division (B) of this section having an aggregate	1133
market value of not less than the aggregate amount of all of the	1134
licensee's outstandings received from persons in the United	1135
States, directly and through authorized delegates, to the extent	1136
reported to the licensee.	1137

(b) For purposes of division (A)(1)(a) of this section, a	1138
licensee's permissible investments, even if commingled with other	1139
assets of the licensee, and a licensee's other assets to the	1140
extent necessary to equal the licensee's outstandings, are, by	1141
operation of law, impressed with a trust and held for the benefit	1142
of persons the money of which the licensee holds for transmission,	1143
and these permissible investments are not available to satisfy any	1144
other of the licensee's creditors.	1145

(2) The superintendent of financial institutions may waive	1146
the requirement described in division (A)(1)(a) of this section if	1147
the volume of a licensee's outstandings does not exceed the	1148
licensee's security device provided pursuant to section 1315.07 of	1149
the Revised Code.	1150

(B) All of the following are permissible investments by a	1151
licensee:	1152

(1) Cash;

1153

(2) Certificates of deposit or other debt obligations of a	1154
depository institution, either domestic or foreign;	1155

(3) Bills of exchange or time drafts drawn on and accepted by	1156
a commercial bank, otherwise known as bankers' acceptances, that	1157
are eligible for purchase by member banks of the federal reserve	1158
system;	1159

(4) Any investment bearing a rating of one of the three	1160
highest grades as defined by a nationally recognized organization	1161
that rates securities;	1162

(5) Investment securities that are obligations of the United	1163
States or its agencies or instrumentalities; obligations that are	1164
guaranteed fully as to principal and interest by the United	1165
States; or any obligations of any state, municipality, or	1166
political subdivision of a state;	1167

(6) Shares in a money market mutual fund; interest-bearing	1168
bills, notes, bonds, debentures, or preferred stock traded on any	1169
national securities exchange or on a national over-the-counter	1170
market; or mutual funds primarily composed of such securities or a	1171
fund composed of one or more permissible investments described in	1172
division (B) of this section;	1173

(7) Any demand borrowing agreement or agreements made to a	1174
corporation or a subsidiary of a corporation the capital stock of	1175
which is listed on a national exchange, provided that the total	1176
borrowing agreements with any one borrower do not exceed ten per	1177
cent of the licensee's outstandings;	1178

(8) To the extent permitted by the superintendent,	1179
receivables that are due to a licensee from its authorized	1180
delegates and are not past due or doubtful of collection;	1181

(9) Any other investments approved by the superintendent.

1182

(C) No licensee shall fail to comply with this section.

1183

Sec. 1315.07. (A)(1) In a form satisfactory to the	1184
superintendent of financial institutions, each licensee shall	1185
provide and maintain a security device of one or more of the types	1186
described in division (B) of this section of not less than three	1187
hundred thousand dollars or such greater amount as the	1188
superintendent finds appropriate but, except pursuant to a	1189
supervisory action, not exceeding two million dollars.	1190

(2) By control agreement or terms of the bond, the security	1191
device described in division (A)(1) of this section shall run to	1192
the superintendent for the benefit of any claimants against the	1193
licensee, to secure the faithful performance of the obligations of	1194
the licensee with respect to its receipt of money from persons in	1195
this state for transmission. In the case of a bond, the	1196
superintendent may bring suit on behalf of claimants, either in	1197
one action or in successive actions, or may authorize claimants to	1198
bring their own actions on the bond.	1199

(B) The security device required by division (A) of this	1200
section shall be one or more of the following:	1201

(1) A pledge, with a holder acceptable to the superintendent	1202
and subject to a control agreement with the superintendent, of any	1203
of the following:	1204

(a) Cash;

1205

(b) Interest-bearing stocks, bonds, notes, debentures, or	1206
other obligations of the United States or any agency or	1207
instrumentality of the United States, or guaranteed by the United	1208
States;	1209

(c) Interest bearing stocks, bonds, notes, debentures, or	1210
other obligations of this state, or of a city, county, town,	1211
village, school district, or instrumentality of this state, or	1212
guaranteed by this state.	1213

(2) A surety bond;

1214

(3) Any other security device approved by the superintendent.

1215

(C)(1)(a) In the case of a security device provided in the	1216
form of a pledge of securities, the securities pledged shall be	1217
valued at the lower of principal amount or market value.	1218

(b) The licensee is entitled to receive all interest and	1219
dividends on cash or securities pledged and, with the approval of	1220
the superintendent, may substitute pledged securities, which	1221
substitution also may be ordered by the superintendent pursuant to	1222
a written order.	1223

(2) In the case of a security device provided in the form of	1224
a surety bond, both of the following apply:	1225

(a) The surety bond shall remain in effect until canceled,	1226
which may occur only after thirty days' written notice to the	1227
superintendent.	1228

(b) Cancellation of a surety bond does not affect any	1229
liability incurred or accrued during the bond's effective period.	1230

(D) A licensee shall maintain the security device required by	1231
division (A) of this section after the licensee ceases money	1232
transmission operations in this state, until the licensee's	1233
outstandings in this state all have been satisfied or properly	1234
reported to the division of unclaimed funds. However, the	1235
superintendent may permit the security device to be reduced to the	1236
extent that the amount of the licensee's outstandings in this	1237
state are reduced.	1238

(E) No licensee shall fail to comply with this section.

1239

Sec. 1315.08.  (A) Within forty-five days after the end of	1240
each calendar quarter, each licensee shall submit to the	1241
superintendent of financial institutions all of the following in	1242
the form prescribed by the superintendent:	1243

(1) The licensee's unaudited, unconsolidated financial	1244
statements as of the end of the calendar quarter, including a	1245
balance sheet, income statement, statement of changes in	1246
shareholder's equity, and statement of cash flows;	1247

(2) A statement for the calendar quarter of the number of	1248
money transmission transactions undertaken by the licensee in this	1249
state and in the United States in total, the dollar amount of	1250
those transactions, and the number and dollar amount of those	1251
transactions currently outstanding;	1252

(3) A schedule of the licensee's permissible investments and	1253
their market values as of the end of the calendar quarter;	1254

(4) A schedule of the locations, if any, within this state at	1255
which the licensee is conducting business directly or through its	1256
authorized delegates;	1257

(5) Any other information that the superintendent requires.

1258

(B) Annually, not more than one hundred twenty days after the	1259
end of its fiscal year, each licensee shall submit to the	1260
superintendent its audited unconsolidated financial statements for	1261
the fiscal year, including a balance sheet, income statement,	1262
statement of changes in shareholder equity, and statement of cash	1263
flows. If the licensee is a subsidiary of another company, the	1264
licensee also shall submit the audited consolidated financial	1265
statements of its parent company.	1266

(C) No licensee shall fail to comply with this section.

1267

Sec. 1315.081. (A) Within fifteen business days after the	1268
occurrence of any of the events listed below, a licensee shall	1269
file a written report with the superintendent describing the event	1270
and its expected impact on the licensee's activities in the state:	1271

(1) Any material changes in information provided in a	1272
licensee's application or any report submitted to the	1273
superintendent under sections 1315.01 to 1315.18 of the Revised	1274
Code;	1275

(2) The licensee's filing for bankruptcy or reorganization;

1276

(3) The institution of revocation or suspension proceedings	1277
against the licensee by any state or governmental authority with	1278
regard to the licensee's money transmission activities;	1279

(4) Any felony indictment of the licensee, or any of its	1280
controlling persons, directors, officers, or employees, related to	1281
money transmission activities;	1282

(5) Any felony conviction of the licensee, or any of its	1283
controlling persons, directors, officers, or employees, related to	1284
money transmission activities;	1285

(6) Any proposed change of control of the licensee;

1286

(7) The licensee's decision to voluntarily surrender or not	1287
to renew a money transmitter license it holds in another	1288
jurisdiction.	1289

(B)(1) No person shall make a false statement,	1290
misrepresentation, or false certification to the division of	1291
financial institutions or in a record filed or required to be	1292
maintained under sections 1315.01 to 1315.18 of the Revised Code	1293
or make a false entry or omit a material entry in a record filed	1294
or required to be maintained under sections 1315.01 to 1315.18 of	1295
the Revised Code or made available to the division.	1296

(2) No licensee shall fail to comply with this section.

1297

Sec. 1315.09. (A) Each licensee shall make, keep, and	1298
preserve with respect to the licensee the following books,	1299
accounts, and other records for a period of five years to be open	1300
to inspection by the superintendent of financial institutions:	1301

(1) A record or records of each money transmission	1302
transaction;	1303

(2) A general ledger containing all assets, liabilities,	1304
capital, income, and expense accounts, posted at least monthly;	1305

(3) All bank statements and bank reconciliation records;

1306

(4) A record of all outstandings;

1307

(5) A record of all payments made;

1308

(6) The names and addresses of all authorized delegates of	1309
the licensee;	1310

(7) Any other records that the superintendent requires.

1311

(B) For purposes of this section, a licensee may retain a	1312
document, paper, or other instrument or record by use of a process	1313
to record, copy, photograph, or store a representation of the	1314
original document, paper, or other instrument or record, if all of	1315
the following apply:	1316

(1) The process correctly and accurately copies or	1317
reproduces, or provides a means for correctly and accurately	1318
copying or reproducing, the original document, paper, or other	1319
instrument or record with regard to both its substance and	1320
appearance, except that the copy or reproduction need not reflect	1321
the original paper or other medium, size, or color, unless the	1322
medium, size, or color is necessary to establish the authenticity	1323
of the original.	1324

(2) The process does not permit the recording, copy,	1325
photographic image, or stored representation of the original	1326
document, paper, or other instrument or record to be altered or	1327
manipulated.	1328

(3) The medium the process uses to record, copy, photograph,	1329
or store a representation of an original document, paper, or other	1330
instrument or record is a durable medium for retaining and	1331
reproducing records.	1332

(C) A licensee may maintain its records described in division	1333
(A) of this section at a location other than within this state, so	1334
long as the licensee makes its records accessible to the	1335
superintendent on seven business days written notice.	1336

(D) No licensee shall fail to comply with this section.

1337

Sec. 1315.10. (A) Subject to division (F) of this section, no	1338
person, alone or acting in concert with other persons, shall,	1339
directly or indirectly, acquire control of a licensee without the	1340
prior approval of the superintendent of financial institutions.	1341

(B) A person or group of persons proposing to acquire control	1342
of a licensee shall submit an application for the superintendent's	1343
approval in the form prescribed by the superintendent.	1344

(C)(1) The superintendent may grant confidential treatment	1345
for information in or related to an application described in	1346
division (B) of this section, if confidential treatment is	1347
requested by the applicant in compliance with division (C)(2) of	1348
this section and any of the following applies:	1349

(a) The information is of a commercial or financial nature,	1350
disclosure of which likely would result in substantial harm to the	1351
competitive position of the applicant or its affiliates or to any	1352
party to the transaction or its affiliates.	1353

(b) The information is of a personal, medical, financial, or	1354
similar nature, disclosure of which would result in a clearly	1355
unwarranted invasion of personal privacy.	1356

(c) The information is contained in, related to, or derived	1357
from examinations, operating or condition reports, agreements,	1358
orders, or actions prepared by, on behalf of, or for the use of a	1359
governmental agency or authority.	1360

(d) The information has been filed with a governmental agency	1361
or authority and has not been approved for disclosure by that	1362
agency or authority.	1363

(e) The information specifically is excepted from disclosure	1364
by statute.	1365

(2)(a) An applicant requesting confidential treatment under	1366
division (C) of this section shall do so in writing at the time	1367
the application containing the information, or additional	1368
information related to an application, is submitted.	1369

(b) The request described in division (C)(2)(a) of this	1370
section separately shall address each item of information for	1371
which confidential treatment is requested, explaining the	1372
applicability of the asserted justification for confidential	1373
treatment and either specifically demonstrating the harm that	1374
would result from public disclosure of the item of information or	1375
setting forth the reason that the applicant cannot authorize	1376
public disclosure of the item of information.	1377

(c) The applicant separately shall bind and identify all	1378
items of information for which confidential treatment is requested	1379
under division (C) of this section and make specific reference to	1380
those items in the remainder of the application or additional	1381
information related to the application.	1382

(3)(a) The superintendent shall review a request for	1383
confidential treatment under division (C) of this section and	1384
provide the applicant with written notice of the superintendent's	1385
decision on granting confidential treatment for each item of	1386
information for which it is requested.	1387

(b) If the superintendent's decision provided pursuant to	1388
division (C)(3)(a) of this section is not to grant confidential	1389
treatment to an item of information, the applicant may withdraw	1390
the item of information by written notice within ten days after	1391
the applicant's receipt of the superintendent's decision. If the	1392
applicant fails to withdraw the item of information within the	1393
ten-day period, the applicant is deemed to have waived the right	1394
to withdraw, and the item of information is deemed a part of the	1395
application available to the public.	1396

(4)(a) An item of information submitted with a request for	1397
confidential treatment under division (C) of this section is not	1398
deemed filed with the superintendent until the superintendent	1399
grants confidential treatment, or the applicant is deemed to have	1400
waived the right to withdraw the item of information.	1401

(b) Until the item of information submitted with a request	1402
for confidential treatment is filed in accordance with division	1403
(C)(4)(a) of this section, no person shall copy or inspect the	1404
item of information or anything derived from the item of	1405
information, except as is necessary to assist the superintendent	1406
in deciding whether to grant confidential treatment to the item of	1407
information in accordance with division (C) of this section.	1408

(5) When an item of information is filed following the	1409
superintendent's decision to grant it confidential treatment	1410
pursuant to division (C)(3)(a) of this section, the item of	1411
information is not a public record as defined in section 149.43 of	1412
the Revised Code and only the superintendent shall use it in	1413
connection with the performance of the duties and exercise of the	1414
powers of the superintendent. Without prior notice to the	1415
applicant, the superintendent may disclose or comment on any of	1416
the contents of the application in an order, statement, or opinion	1417
issued by the superintendent in connection with a decision on the	1418
application.	1419

(D)(1) If the superintendent requests, the applicant shall	1420
bear the expense of the examination conducted in accordance with	1421
section 1315.101 of the Revised Code, and upon the	1422
superintendent's request, shall advance to the superintendent the	1423
superintendent's estimate of the cost of the examination, with any	1424
unconsumed portion to be returned to the applicant.	1425

(2) If the superintendent requests payment pursuant to	1426
division (D)(1) of this section, the applicant shall pay the cost	1427
of its examination described in section 1315.101 of the Revised	1428
Code, or any balance of the cost of its examination in the case of	1429
an applicant that advanced the estimated cost of its examination,	1430
within fourteen days after receiving an invoice for payment.	1431

(E) The superintendent may do either of the following:

1432

(1) Deny an application described in division (B) of this	1433
section prior to the superintendent's acceptance of the	1434
application for processing, on the basis that the applicant failed	1435
to include all of the items and address all of the issues required	1436
for the application, if both of the following apply:	1437

(a) The superintendent advised the person that the	1438
application was incomplete.	1439

(b) After being advised by the superintendent pursuant to	1440
division (E)(1)(a) of this section that the application was	1441
incomplete, the person, within a reasonable period of time, did	1442
not complete the application.	1443

(2) Deny an application described in division (B) of this	1444
section on the basis that the applicant failed to provide the	1445
information necessary for the superintendent to consider the	1446
application adequately after the superintendent's acceptance of	1447
the application for processing, if both of the following apply:	1448

(a) After beginning to process the application, the	1449
superintendent determined and advised the applicant that	1450
additional information was necessary to consider the application	1451
adequately.	1452

(b) After being advised by the superintendent pursuant to	1453
division (E)(2)(a) of this section that additional information was	1454
necessary to consider the application adequately, the applicant,	1455
within a reasonable period of time, did not provide that	1456
information.	1457

(F)(1) Division (A) of this section requiring prior approval	1458
to obtain control, directly or indirectly, of a licensee does not	1459
apply to any of the following persons, but these persons shall	1460
notify the superintendent of a change of control:	1461

(a) A person that acts as a proxy for the sole purpose of	1462
voting at a designated meeting of the shareholders or holders of	1463
voting interests of a licensee or person in control of a licensee;	1464

(b) A person that acquires control of a licensee by devise or	1465
descent;	1466

(c) A person that acquires control as a personal	1467
representative, custodian, guardian, conservator, or trustee, or	1468
as an officer appointed by a court of competent jurisdiction or by	1469
operation of law;	1470

(d) A person that the superintendent by rule or order	1471
determines is not subject to division (A) of this section based on	1472
the public interest.	1473

(2) Division (A) of this section does not apply to public	1474
offerings of securities.	1475

(3) Before filing an application described in division (A) of	1476
this section, a person may request in writing a determination from	1477
the superintendent of whether the person would be considered a	1478
person in control of a licensee upon consummation of a proposed	1479
transaction. If the superintendent determines that the person	1480
would not be a person in control of a licensee, the person and the	1481
proposed transaction are not subject to the requirements of	1482
division (A) of this section.	1483

(G) No person shall fail to comply with this section.

1484

Sec. 1315.101.  (A) After accepting an application to acquire	1485
control of a licensee described in section 1315.10 of the Revised	1486
Code, the superintendent of financial institutions shall examine	1487
all of the facts and circumstances relating to the application.	1488

(B) The superintendent shall approve the application	1489
described in division (A) of this section if the superintendent	1490
determines both of the following:	1491

(1) The competence, experience, and character of the	1492
applicant or applicants seeking to acquire control of a licensee	1493
and the applicant's or applicants' general fitness to operate the	1494
licensee or person in control of the licensee in a lawful and	1495
proper manner are acceptable.	1496

(2) The interests of the public are not jeopardized by the	1497
change of control.	1498

Sec. 1315.11.  (A) A licensee that chooses to conduct money	1499
transmission activities in this state through an authorized	1500
delegate shall execute an express written contract with the	1501
authorized delegate that, at a minimum, sets forth all of the	1502
following:	1503

(1) The duties and responsibilities of the authorized	1504
delegate regarding money or its equivalent received from persons	1505
located in this state for transmission by the licensee;	1506

(2) The duties and responsibilities of the authorized	1507
delegate regarding instruments, devices, or processes used by the	1508
licensee to transmit money;	1509

(3) The duties and responsibilities of the authorized	1510
delegate with regard to compliance with laws regulating money	1511
transmission activities.	1512

(B) A licensee shall monitor the activities of its authorized	1513
delegate with regard to money or its equivalent received from	1514
persons in this state for transmission by the licensee and for	1515
compliance with all of the following:	1516

(1) The written contract between the licensee and the	1517
authorized delegate;	1518

(2) Sections 1315.01 to 1315.18 of the Revised Code;

1519

(3) Other laws applicable to the business of transmitting	1520
money.	1521

(C) As part of the examination of a licensee authorized by	1522
section 1315.12 of the Revised Code, the superintendent of	1523
financial institutions may examine the books and records and	1524
policies and procedures of the licensee's authorized delegate.	1525

(D)(1) An authorized delegate or other person that receives	1526
money or its equivalent for transmission by a licensee shall keep	1527
it separate and shall not commingle it with other money or	1528
receipts. All money or its equivalent, less fees, that is received	1529
by an authorized delegate or by any other person for transmission	1530
by a licensee, from the time received until remitted to the	1531
licensee, shall constitute funds owned by and belonging to the	1532
licensee and shall be impressed with a trust for the benefit of	1533
the person from which the money or its equivalent is received.	1534

(2) If an authorized delegate or other person fails to comply	1535
with division (D)(1) of this section and commingles any money or	1536
its equivalent received for transmission by a licensee with any	1537
other funds or property owned or controlled by the authorized	1538
delegate or other person, all commingled proceeds and other	1539
property shall be impressed with a trust in favor of the licensee	1540
in an amount equal to the amount due the licensee.	1541

(E) No licensee shall fail to comply with division (A) or (B)	1542
of this section, and no authorized delegate or other person that	1543
receives money or its equivalent for transmission by a licensee	1544
shall fail to comply with division (D) of this section.	1545

Sec. 1315.12. (A) As often as the superintendent of financial	1546
institutions considers necessary, the superintendent, or any	1547
deputy or examiner appointed or any contractor engaged by the	1548
superintendent for that purpose, thoroughly shall examine the	1549
records and affairs of each licensee. The examination shall	1550
include a review of all of the following:	1551

(1) Compliance with law;

1552

(2) Safety and soundness;

1553

(3) Other matters that the superintendent determines.

1554

(B) The superintendent may conduct all aspects of an	1555
examination described in division (A) of this section concurrently	1556
or may divide the examination into constituent parts and conduct	1557
them at various times.	1558

(C)(1) The licensee shall bear the expense of the	1559
examination. If the superintendent requests, the licensee shall	1560
advance to the superintendent the superintendent's estimate of the	1561
cost of the examination, with any unconsumed portion to be	1562
returned to the licensee.	1563

(2) A licensee shall pay the cost of its examination	1564
conducted pursuant to this section, or any balance of the cost of	1565
its examination in the case of a licensee that advanced the	1566
estimated cost of its examination, within fourteen days of	1567
receiving an invoice for payment.	1568

(D) The superintendent shall preserve the report of each	1569
examination conducted pursuant to this section, including related	1570
correspondence received and copies of related correspondence sent,	1571
for twenty years after the examination date.	1572

Sec. 1315.121.  (A) In administering sections 1315.01 to	1573
1315.18 of the Revised Code and fulfilling the duties imposed by	1574
those sections, including the duty imposed by section 1315.12 of	1575
the Revised Code, the superintendent of financial institutions may	1576
do any of the following:	1577

(1) Participate with financial institution regulatory	1578
authorities of this and other states, the United States, and other	1579
countries in any of the following:	1580

(a) Programs for alternate examinations of the records and	1581
affairs of licensees and other money transmitters over which they	1582
have concurrent jurisdiction;	1583

(b) Joint or concurrent examinations of the records and	1584
affairs of licensees and other money transmitters over which they	1585
have concurrent jurisdiction;	1586

(c) Coordinated examinations of the records and affairs of	1587
licensees and other money transmitters over which they have	1588
collective jurisdiction.	1589

(2) Conduct, participate in, or coordinate independent,	1590
concurrent, joint, or coordinated examinations of the records and	1591
affairs of licensees and other money transmitters and otherwise	1592
act on behalf of financial institution regulatory authorities of	1593
this and other states, the United States, and other countries	1594
having jurisdiction over the licensees and other money	1595
transmitters;	1596

(3) Rely on information leading to, arising from, or obtained	1597
in the course of examinations conducted by financial institution	1598
regulatory authorities of this and other states, the United	1599
States, and other countries when both of the following apply:	1600

(a) Pursuant to agreement and applicable law, the	1601
superintendent may receive and use the information leading to,	1602
arising from, or obtained in the course of the other regulatory	1603
authorities' examinations in administering sections 1315.01 to	1604
1315.18 of the Revised Code and acting under the authority of	1605
those sections;	1606

(b) In the superintendent's judgment the other regulatory	1607
authorities' personnel, practices, and authority warrant the	1608
superintendent's reliance.	1609

(4) Authorize financial institution regulatory authorities of	1610
this and other states, the United States, and other countries to	1611
receive and use information leading to, arising from, or obtained	1612
in the course of examinations conducted by the division of	1613
financial institutions in the same manner and for the purposes	1614
they could use information leading to, arising from, or obtained	1615
in the course of their own examinations when both of the following	1616
apply:	1617

(a) Pursuant to applicable law, information leading to,	1618
arising from, or obtained in the course of examinations the other	1619
regulatory authorities conduct is protected from general	1620
disclosure and may only be disclosed for purposes similar to those	1621
provided in section 1315.122 of the Revised Code, which are	1622
principally regulatory in nature, for disclosure of information	1623
leading to, arising from, or obtained in the course of	1624
examinations conducted by the division;	1625

(b) Pursuant to agreement and applicable law, information	1626
leading to, arising from, or obtained in the course of	1627
examinations conducted by the division will, in the other	1628
regulatory authorities' possession or the possession of any	1629
persons to whom the other regulatory authorities disclosed the	1630
information as a part of examinations of those persons, be	1631
protected from disclosure to the same extent as information	1632
leading to, arising from, or obtained in the course of those	1633
regulatory authorities' examinations.	1634

(5) Rely on the actions of financial institution regulatory	1635
authorities of this and other states, the United States, or other	1636
countries, or participate with them jointly, in responding to	1637
violations of law, unsafe or unsound practices, breaches of	1638
fiduciary duty, or other regulatory concerns affecting licensees	1639
and other money transmitters over which they have concurrent	1640
jurisdiction when the other regulatory authorities have adequate	1641
personnel, practices, and authority to warrant the reliance;	1642

(6) Implement other cooperative arrangements with financial	1643
institution regulatory authorities of this and other states, the	1644
United States, and other countries consistent with safety and	1645
soundness.	1646

(B) No person shall use any reliance by the superintendent,	1647
in whole or in part, on financial institution regulatory	1648
authorities of this or other states, the United States, or other	1649
countries in accordance with division (A) of this section to	1650
support any assertion of either of the following:	1651

(1) Failure of the superintendent or division to properly	1652
administer sections 1315.01 to 1315.18 of the Revised Code or	1653
fulfill the duties imposed by those sections;	1654

(2) Disagreement by the superintendent or division with any	1655
action taken by financial institution regulatory authorities of	1656
this or other states, the United States, or other countries.	1657

(C) In conducting, participating in, or coordinating	1658
independent, concurrent, joint, or coordinated examinations of the	1659
records and affairs of licensees and other money transmitters, the	1660
superintendent may purchase services from financial institution	1661
regulatory authorities of this and other states, the United	1662
States, and other countries, including services provided by	1663
employees of other financial institution regulatory authorities in	1664
their capacities as employees of other financial institution	1665
regulatory authorities. The purchase of services from one or more	1666
financial institution regulatory authorities of this and other	1667
states, the United States, or other countries is the purchase of	1668
services from a sole source provider and is not the employment of	1669
any financial institution regulatory authority or any of its	1670
employees.	1671

The authority to purchase services pursuant to this division	1672
does not impair the superintendent's authority to purchase	1673
services from any other source.	1674

Sec. 1315.122.  (A) Information leading to, arising from, or	1675
obtained in the course of the examination of a licensee or other	1676
person conducted pursuant to the authority of sections 1315.01 to	1677
1315.18 of the Revised Code is privileged and confidential. No	1678
person, including any person to whom the information is disclosed	1679
under the authority of this section, shall disclose information	1680
leading to, arising from, or obtained in the course of an	1681
examination, except as specifically provided in this section.	1682

(B) The superintendent of financial institutions and the	1683
superintendent's agents and employees may disclose information	1684
leading to, arising from, or obtained in the course of an	1685
examination conducted pursuant to section 1315.12 or 1315.121 of	1686
the Revised Code as follows:	1687

(1) To the governor, director of commerce, or deputy director	1688
of commerce to enable them to act in the interests of the public;	1689

(2) To the banking commission, created pursuant to section	1690
1123.01 of the Revised Code, to enable the commission to	1691
effectively advise the superintendent and take action on any	1692
matter the superintendent presents to the commission;	1693

(3) To financial institution regulatory authorities of this	1694
and other states, the United States, and other countries to assist	1695
them in their regulatory duties;	1696

(4) To the directors, officers, agents, and parent company of	1697
the licensee or other money transmitter examined to assist them in	1698
conducting the business of the licensee or other money transmitter	1699
examined in a safe and sound manner and in compliance with the	1700
law;	1701

(5) To law enforcement authorities conducting criminal	1702
investigations.	1703

(C) Information leading to, arising from, or obtained in the	1704
course of an examination of a licensee or other person pursuant to	1705
sections 1315.01 to 1315.18 of the Revised Code shall not be	1706
discoverable from any source. The information shall not be	1707
introduced into evidence, except in the following circumstances:	1708

(1) In connection with criminal proceedings;

1709

(2) When, in the opinion of the superintendent, it is	1710
appropriate with regard to enforcement actions taken and decisions	1711
made by the superintendent under the authority of sections 1315.01	1712
to 1315.18 of the Revised Code regarding a licensee or other	1713
person;	1714

(3) When litigation has been initiated by the superintendent	1715
in furtherance of the powers, duties, and obligations imposed upon	1716
the superintendent by sections 1315.01 to 1315.18 of the Revised	1717
Code;	1718

(4) When authorized by agreements between the superintendent	1719
and financial institution regulatory authorities of this and other	1720
states, the United States, and other countries authorized by	1721
section 1315.121 of the Revised Code;	1722

(5) When and in the manner authorized in section 1181.25 of	1723
the Revised Code.	1724

(D) A report of an examination conducted pursuant to section	1725
1315.12 or 1315.121 of the Revised Code is the property of the	1726
division of financial institutions. Under no circumstances may the	1727
licensee or other money transmitter examined, its directors,	1728
officers, employees, agents, regulated persons, or contractors, or	1729
any person having knowledge or possession of a report of	1730
examination, or any of its contents, disclose or make public in	1731
any manner the report of examination or its contents. The	1732
authority provided in division (B)(4) of this section for use of	1733
examination information to assist in conducting the business of	1734
the licensee or other money transmitter examined in a safe and	1735
sound manner and in compliance with law shall not be construed to	1736
authorize disclosure of a report of examination or any of its	1737
contents in conducting business with the examined licensee's or	1738
other money transmitter's customers, creditors, or shareholders,	1739
or with other persons.	1740

(E) Whoever violates this section shall be removed from	1741
office, shall be liable, with the violator's bonder in damages to	1742
the person injured by the disclosure of information, and is guilty	1743
of a felony of the fourth degree.	1744

Sec. 1315.13. Annually, the superintendent shall establish	1745
both of the following:	1746

(A) The application fee for an application for a license to	1747
transmit money under section 1315.03 of the Revised Code;	1748

(B) An annual fee described in division (E) of section	1749
1315.04 of the Revised Code for each licensee to carry on the	1750
business of a money transmitter. When establishing the annual fee	1751
for each licensee, the superintendent may consider the number of	1752
offices and authorized delegates the licensee has and the volume	1753
of business the licensee does in this state.	1754

Sec. 1315.14.  The superintendent of financial institutions	1755
may adopt rules that, in the superintendent's judgment, are	1756
necessary or appropriate to carry out the purposes of sections	1757
1315.01 to 1315.18 of the Revised Code.	1758

Sec. 1315.15.  (A) The superintendent of financial	1759
institutions may issue and serve a notice of charges and intent to	1760
issue a cease and desist order upon a licensee or other person if,	1761
in the opinion of the superintendent, either of the following	1762
applies to the licensee or other person:	1763

(1) The licensee or other person is engaging, has engaged,	1764
or, the superintendent has reasonable cause to believe, is about	1765
to engage in an unsafe or unsound practice in conducting the	1766
business of transmitting money.	1767

(2) The licensee or other person is violating, has violated,	1768
or, the superintendent has reasonable cause to believe, is about	1769
to violate any of the following:	1770

(a) A law or rule;

1771

(b) A condition imposed in writing by the superintendent in	1772
connection with granting an application or other request by the	1773
licensee or other person;	1774

(c) A written agreement entered into with the superintendent.

1775

(B) The notice of charges and intent to issue a cease and	1776
desist order described in division (A) of this section shall	1777
include all of the following:	1778

(1) A statement of the violation or violations or unsafe or	1779
unsound practice or practices alleged;	1780

(2) A statement of the facts constituting the violation or	1781
violations or unsafe or unsound practice or practices alleged;	1782

(3) Notice that the licensee or other person is entitled to a	1783
hearing, in accordance with section 1315.17 of the Revised Code,	1784
to determine whether a cease and desist order should be issued	1785
against the licensee or other person, if the licensee or other	1786
person requests the hearing within thirty days of service of the	1787
notice;	1788

(4) Notice that, if the licensee or other person makes a	1789
timely request for a hearing, the licensee or other person may	1790
appear at the hearing in person or by attorney or by presenting	1791
positions, arguments, and contentions in writing, and at the	1792
hearing may present evidence and examine witnesses for and against	1793
the licensee or other person.	1794

(5) Notice that failure of the licensee or other person to	1795
make a timely request for a hearing to determine whether a cease	1796
and desist order should be issued or to appear at the hearing, in	1797
person, by attorney, or by writing, is consent by the licensee or	1798
other person to the issuance of the cease and desist order.	1799

(C) The superintendent may issue a cease and desist order	1800
against the licensee or other person if any of the following	1801
applies:	1802

(1) The licensee or other person consents to the issuance of	1803
the cease and desist order.	1804

(2) Upon the record of the hearing described in division (B)	1805
of this section, the superintendent finds that a violation or	1806
unsafe or unsound practice has been established.	1807

(3) The superintendent determines that the licensee's or	1808
other person's books and records are too incomplete or inaccurate	1809
to permit the superintendent, through the normal supervisory	1810
process, to determine the financial condition of the licensee or	1811
other person or the details or purpose of one or more transactions	1812
that may have a material effect on the financial condition of the	1813
licensee or other person.	1814

(4) The superintendent finds that the violation or unsafe or	1815
unsound practice alleged in division (B) of this section is	1816
likely, prior to completion of the hearing described in that	1817
division, to cause any of the following:	1818

(a) The licensee's or other person's insolvency;

1819

(b) Significant dissipation of the licensee's or other	1820
person's earnings or assets;	1821

(c) Weakening of the licensee's or other person's condition	1822
or other prejudice to the interests of the licensee's or other	1823
person's customers.	1824

(D) A cease and desist order may require the licensee or	1825
other person to cease and desist from each violation or unsafe or	1826
unsound practice, to correct or remedy the conditions resulting	1827
from each violation or unsafe or unsound practice, and to take	1828
affirmative action, including any of the following:	1829

(1) Make restitution or provide reimbursement,	1830
indemnification, or guarantee against loss, if either of the	1831
following applies:	1832

(a) The licensee or other person was or will be unjustly	1833
enriched in connection with the violation or practice.	1834

(b) The violation or practice involved a reckless disregard	1835
for the law or any applicable rule or prior order of the	1836
superintendent.	1837

(2) Restrict the licensee's or other person's growth;

1838

(3) Dispose of any loan or asset involved;

1839

(4) Rescind agreements or contracts;

1840

(5) Employ qualified officers or employees, who may be	1841
subject to approval by the superintendent;	1842

(6) Take any other action that the superintendent determines	1843
appropriate.	1844

(E) A cease and desist order issued by the superintendent	1845
pursuant to division (C) of this section is effective at the time	1846
specified in the order, which shall be as follows:	1847

(1) In the case of a cease and desist order issued pursuant	1848
to division (C)(2) of this section, not less than thirty days	1849
after service of the order upon the licensee or other person;	1850

(2) In the case of a cease and desist order issued pursuant	1851
to division (C)(1), (3), or (4) of this section, immediately upon	1852
service of the order on the licensee or other person.	1853

(F) A cease and desist order shall remain effective and	1854
enforceable as provided in the order except to the extent it is	1855
stayed, modified, terminated, or set aside by action of the	1856
superintendent or a reviewing court. If, upon the record of a	1857
hearing, the superintendent determines not to issue a cease and	1858
desist order, any cease and desist order issued pursuant to	1859
division (C)(3) or (4) of this section is terminated.	1860

(G) Within ten days after being served a cease and desist	1861
order issued pursuant to division (C)(3) or (4) of this section, a	1862
licensee or other person may apply to the court of common pleas of	1863
the county in which the principal place of business of the	1864
licensee or other person is located, or to the court of common	1865
pleas of Franklin county, for an injunction setting aside,	1866
limiting, or suspending the enforcement, operation, or	1867
effectiveness of the cease and desist order pending completion of	1868
the hearing to determine whether a cease and desist order should	1869
be issued against the licensee or other person pursuant to	1870
division (C)(2) of this section, and the court has jurisdiction to	1871
issue the injunction.	1872

Sec. 1315.151.  (A) The superintendent of financial	1873
institutions may issue and serve a notice of charges and intent to	1874
suspend or revoke a licensee's license, if the superintendent	1875
finds that any of the following applies:	1876

(1) Any fact or condition exists that, if it had existed at	1877
the time when the licensee applied for its license, would have	1878
been grounds for denying the application.	1879

(2) The licensee's net worth becomes inadequate and the	1880
licensee, after ten days' written notice from the superintendent,	1881
fails to take steps that the superintendent considers necessary to	1882
remedy the deficiency.	1883

(3) The licensee knowingly violates any material provision of	1884
sections 1315.01 to 1315.18 of the Revised Code or any rule or	1885
order adopted by the superintendent.	1886

(4) The licensee is conducting its business in an unsafe or	1887
unsound manner.	1888

(5) The licensee is insolvent.

1889

(6) The licensee has suspended payment of its obligations,	1890
has made an assignment for the benefit of its creditors, or has	1891
admitted in writing its inability to pay its debts as they become	1892
due.	1893

(7) The licensee has applied for an adjudication of	1894
bankruptcy, reorganization, arrangement, or other relief relating	1895
to bankruptcy.	1896

(8) The licensee refuses to permit the superintendent to make	1897
any examination authorized by sections 1315.01 to 1315.18 of the	1898
Revised Code.	1899

(9) The licensee willfully fails to make any report required	1900
by sections 1315.01 to 1315.18 of the Revised Code.	1901

(10) The competence, experience, character, or general	1902
fitness of the licensee indicates that it is not in the public	1903
interest to permit the licensee to continue to transmit money in	1904
this state.	1905

(B) The notice of charges and intent to suspend or revoke a	1906
license described in division (A) of this section shall include	1907
all of the following:	1908

(1) A statement of the grounds alleged;

1909

(2) A statement of the facts constituting the grounds	1910
alleged;	1911

(3) Notice that the licensee is entitled to a hearing, in	1912
accordance with section 1315.17 of the Revised Code, to determine	1913
whether a license should be suspended or revoked, if the licensee	1914
requests the hearing within thirty days of service of the notice;	1915

(4) Notice that, if the licensee makes a timely request for a	1916
hearing, the licensee may appear at the hearing in person or by	1917
attorney or by presenting positions, arguments, and contentions in	1918
writing, and at the hearing may present evidence and examine	1919
witnesses for and against the licensee.	1920

(5) Notice that failure of the licensee to make a timely	1921
request for a hearing to determine whether the license should be	1922
suspended or revoked or to appear at the hearing, in person, by	1923
attorney, or by writing, is consent by the licensee to the	1924
suspension or revocation of the license.	1925

(C) The superintendent may order a license suspended or	1926
revoked, if any of the following applies:	1927

(1) The licensee consents to the suspension or revocation.

1928

(2) Upon the record of the hearing described in division (B)	1929
of this section, the superintendent finds that one or more grounds	1930
alleged pursuant to that division have been established.	1931

(3) The superintendent determines that the licensee's books	1932
and records are too incomplete or inaccurate to permit the	1933
superintendent, through the normal supervisory process, to	1934
determine the financial condition of the licensee or the details	1935
or purpose of one or more transactions that may have a material	1936
effect on the financial condition of the licensee.	1937

(4) The superintendent finds that one or more of the grounds	1938
alleged pursuant to division (B) of this section are likely, prior	1939
to completion of the hearing described in that division, to cause	1940
any of the following:	1941

(a) The licensee's insolvency;

1942

(b) Significant dissipation of the licensee's earnings or	1943
assets;	1944

(c) Weakening of the licensee's condition or other prejudice	1945
to the interests of the licensee's customers.	1946

(D) A suspension or revocation of a license order issued by	1947
the superintendent pursuant to division (C) of this section is	1948
effective at the time specified in the order, which shall be as	1949
follows:	1950

(1) In the case of a suspension or revocation order issued	1951
pursuant to division (C)(2) of this section, not less than thirty	1952
days after service of the order upon the licensee;	1953

(2) In the case of a suspension or revocation order issued	1954
pursuant to division (C)(1), (3), or (4) of this section,	1955
immediately upon service of the order on the licensee.	1956

(E) A suspension or revocation of a license order shall	1957
remain effective and enforceable as provided in the order except	1958
to the extent it is stayed, modified, terminated, or set aside by	1959
action of the superintendent or a reviewing court. If, upon the	1960
record of a hearing, the superintendent determines not to suspend	1961
or revoke a license, any suspension or revocation order issued	1962
pursuant to division (C)(3) or (4) of this section is terminated.	1963

(F) Within ten days after being served a suspension or	1964
revocation of a license order issued pursuant to division (C)(3)	1965
or (4) of this section, a licensee may apply to the court of	1966
common pleas of the county in which the principal place of	1967
business of the licensee is located, or to the court of common	1968
pleas of Franklin county, for an injunction setting aside,	1969
limiting, or suspending the enforcement, operation, or	1970
effectiveness of the suspension or revocation order pending	1971
completion of the hearing to determine whether a suspension or	1972
revocation order should be issued against the licensee pursuant to	1973
division (C)(2) of this section, and the court has jurisdiction to	1974
issue the injunction.	1975

Sec. 1315.152.  (A) The superintendent of financial	1976
institutions may assess civil penalties against a licensee or	1977
other person for each day a violation, unsafe or unsound practice,	1978
or breach continues as follows:	1979

(1) The superintendent may assess a civil penalty of not more	1980
than five hundred dollars per day if the licensee or other person	1981
violates any of the following:	1982

(a) Any law or rule;

1983

(b) Any order issued pursuant to section 1315.15 or 1315.151	1984
of the Revised Code;	1985

(c) Any condition imposed in writing by the superintendent in	1986
connection with granting any application by the licensee or other	1987
person;	1988

(d) A written agreement between the licensee or other person	1989
and the superintendent.	1990

(2) The superintendent may assess a civil penalty of not more	1991
than one thousand dollars per day if both of the following apply:	1992

(a) The licensee or other person does any of the following:

1993

(i) Commits any violation listed in division (A)(1) of this	1994
section;	1995

(ii) Recklessly engages in an unsafe or unsound practice;

1996

(iii) Breaches any fiduciary duty.

1997

(b) The violation, unsafe or unsound practice, or breach is	1998
part of a pattern of misconduct or causes or is likely to cause	1999
more than a minimal loss to the licensee or other person.	2000

(B) A notice of assessment of a civil penalty shall include	2001
all of the following:	2002

(1) A statement of the violation or violations or unsafe or	2003
unsound practice or practices or breach or breaches alleged;	2004

(2) A statement of the facts supporting the assessment of the	2005
civil penalty;	2006

(3) Notice that the licensee or other person is entitled to a	2007
hearing, in accordance with section 1315.17 of the Revised Code to	2008
determine whether a civil penalty should be assessed against the	2009
licensee or other person, if the licensee or other person requests	2010
the hearing within thirty days of service of the notice of	2011
assessment of a civil penalty;	2012

(4) Notice that, if the licensee or other person makes a	2013
timely request for a hearing, the licensee or other person may	2014
appear at the hearing in person, by attorney, or by presenting	2015
positions, arguments, and contentions in writing, and at the	2016
hearing may present evidence and examine witnesses for and against	2017
the licensee or other person;	2018

(5) Notice that failure of the licensee or other person to	2019
make a timely request for a hearing to determine whether a civil	2020
penalty should be assessed against the licensee or other person,	2021
or to appear at the hearing, in person, by attorney, or by	2022
writing, is consent by the licensee or other person to the	2023
assessment of the civil penalty.	2024

(C) The superintendent may assess a civil penalty if either	2025
of the following applies:	2026

(1) The licensee or other person consents to the assessment	2027
of the civil penalty.	2028

(2) Upon the record of the hearing described in division (B)	2029
of this section the superintendent finds a violation, unsafe or	2030
unsound practice, or breach has been established.	2031

(D) In determining the amount of the civil penalty to be	2032
assessed pursuant to this section, the superintendent shall	2033
consider all of the following:	2034

(1) The seriousness of and the risk posed by the violation,	2035
unsafe or unsound practice, or breach;	2036

(2) The licensee's or other person's good faith efforts to	2037
prevent the violation, unsafe or unsound practice, or breach;	2038

(3) The licensee's or other person's history regarding	2039
violations, unsafe or unsound practices, and breaches;	2040

(4) The licensee's or other person's financial resources;

2041

(5) Any other matters justice may require.

2042

(E) Any licensee's or other person assessed a civil penalty	2043
pursuant to this section shall pay the civil penalty to the	2044
superintendent, and the superintendent shall deposit any civil	2045
penalty paid into the state treasury to the credit of the general	2046
revenue fund.	2047

Sec. 1315.153.  If the superintendent of financial	2048
institutions has reason to believe that a person has violated or	2049
is violating section 1315.02 of the Revised Code, the	2050
superintendent may petition the court of common pleas of the	2051
county where the person's principal place of business or residence	2052
is located or, if the person's principal place of business or	2053
residence is not in this state, the court of common pleas of	2054
Franklin county for the issuance of a temporary restraining order	2055
or an injunction.	2056

Sec. 1315.16.  (A) The superintendent of financial	2057
institutions may do both of the following:	2058

(1) Summon and compel, by order or subpoena, witnesses to	2059
appear before the superintendent, deputy superintendent, examiner,	2060
or attorney examiner, and testify under oath regarding the affairs	2061
of a licensee or other person;	2062

(2) Compel, by order or subpoena, the production of any	2063
record, book, paper, document, item, or other thing pertaining to	2064
a licensee or other person.	2065

(B) The superintendent shall serve an order or subpoena	2066
issued pursuant to division (A) of this section in any manner	2067
provided by section 1315.161 of the Revised Code.	2068

(C) If a person fails to comply with an order or subpoena of	2069
the superintendent or refuses to testify to any matter regarding	2070
which the person is lawfully interrogated before the	2071
superintendent, on application of the superintendent, the court of	2072
common pleas of the county in which the person resides or in which	2073
the principal place of business of the person is located, or a	2074
judge of the court, shall compel compliance by attachment	2075
proceedings as for contempt in the case of noncompliance with a	2076
subpoena issued from the court or refusal to testify in the court.	2077

Sec. 1315.161.  (A) The superintendent of financial	2078
institutions may serve any notice that the superintendent is	2079
required or authorized to give and any subpoena or order that the	2080
superintendent is required or authorized to issue pursuant to	2081
sections 1315.01 to 1315.18 of the Revised Code, at the sole	2082
discretion of the superintendent, by any of the following means:	2083

(1) In person by the superintendent or an employee or agent	2084
of the division of financial institutions;	2085

(2) By regular mail;

2086

(3) By registered or certified mail;

2087

(4) By private carrier;

2088

(5) By any other means permitted by the Rules of Civil	2089
Procedure for service of process;	2090

(6) By any other manner the superintendent provides, by rule	2091
or otherwise, that is reasonably calculated to give notice,	2092
including by publication.	2093

(B) A notice, subpoena, or order served by the superintendent	2094
in accordance with this section is effective upon delivery with	2095
respect to divisions (A)(1) and (4) of this section, upon placing	2096
in the regular mail with respect to divisions (A)(2) and (3) of	2097
this section, and upon publication or completion of the act	2098
reasonably calculated to give notice with respect to division	2099
(A)(6) of this section.	2100

(C) Fees for service of a notice, subpoena, or order	2101
described in division (A) of this section shall be paid from	2102
amounts appropriated to the division of financial institutions for	2103
that purpose.	2104

Sec. 1315.17.  (A)(1) Upon a licensee's or other person's	2105
request for an administrative hearing authorized in section	2106
1315.15, 1315.151, or 1315.152 of the Revised Code, the division	2107
of financial institutions shall set a reasonable time, date, and	2108
place in this state for the hearing and notify the licensee or	2109
other person requesting the hearing. Within ninety days after the	2110
hearing, the superintendent of financial institutions shall render	2111
a decision, which shall include findings of fact upon which the	2112
decision is predicated, and shall issue and serve on the licensee	2113
or other person the decision and an order consistent with the	2114
decision. Judicial review of the order exclusively is as provided	2115
in division (B) of this section. Unless a notice of appeal is	2116
filed within thirty days after service of the superintendent's	2117
order as provided in division (B) of this section, and until the	2118
record of the administrative hearing has been filed, the	2119
superintendent may, at anytime, upon the notice and in the manner	2120
that the superintendent considers proper, modify, terminate, or	2121
set aside the superintendent's order. After filing the record, the	2122
superintendent may modify, terminate, or set aside the	2123
superintendent's order with permission of the court.	2124

(2) In the course of, or in connection with, an	2125
administrative hearing governed by this section, the	2126
superintendent, or a person designated by the superintendent to	2127
conduct the hearing, may administer oaths and affirmations; take	2128
or cause depositions to be taken; and issue, revoke, quash, or	2129
modify subpoenas and subpoenas duces tecum. The superintendent may	2130
adopt rules regarding these hearings. The attendance of witnesses	2131
and the production of documents provided for in this section may	2132
be required from any place within or outside the state. A party to	2133
a hearing governed by this section may apply to the court of	2134
common pleas of Franklin county, or the court of common pleas of	2135
the county in which the hearing is being conducted or the witness	2136
resides or carries on business, for enforcement of a subpoena or	2137
subpoena duces tecum issued pursuant to this section, and the	2138
courts have jurisdiction and power to order and require compliance	2139
with the subpoena. Witnesses subpoenaed under this section shall	2140
be paid the same fees and mileage that are paid witnesses in the	2141
courts of common pleas in civil cases.	2142

(B)(1) A licensee or other person against whom the	2143
superintendent issues an order upon the record of a hearing under	2144
the authority of section 1315.15, 1315.151, or 1315.152 of the	2145
Revised Code may obtain a review of the order by filing a notice	2146
of appeal in the court of common pleas in the county in which the	2147
principal place of business of the licensee or other person, or	2148
the residence of the other person, is located, or in the court of	2149
common pleas of Franklin county, within thirty days after the date	2150
of service of the superintendent's order. The clerk of the court	2151
promptly shall transmit a copy of the notice of appeal to the	2152
superintendent, and the superintendent shall file the record of	2153
the administrative hearing. Upon the filing of the notice of	2154
appeal, the court has jurisdiction, which upon the filing of the	2155
record of the administrative hearing is exclusive, to affirm,	2156
modify, terminate, or set aside, in whole or in part, the	2157
superintendent's order.	2158

(2) The commencement of proceedings for judicial review	2159
pursuant to division (B) of this section does not, unless	2160
specifically ordered by the court, operate as a stay of any order	2161
issued by the superintendent. If it appears to the court an	2162
unusual hardship to the appellant will result from the execution	2163
of the superintendent's order pending determination of the appeal,	2164
and the interests of the public will not be threatened by a stay	2165
of the order, the court may grant a stay and fix its terms.	2166

(C) The superintendent may, in the sole discretion of the	2167
superintendent, apply to the court of common pleas of the county	2168
in which the principal place of business of the licensee or other	2169
person, or the residence of the other person, is located, or the	2170
court of common pleas of Franklin county, for the enforcement of	2171
an effective and outstanding superintendent's order issued under	2172
section 1315.15, 1315.151, or 1315.152 of the Revised Code, and	2173
the court has jurisdiction and power to order and require	2174
compliance with the superintendent's order. In an action by the	2175
superintendent pursuant to this division to enforce an order	2176
assessing a civil penalty issued under section 1315.152 of the	2177
Revised Code, the validity and appropriateness of the civil	2178
penalty is not subject to review.	2179

(D) No court has jurisdiction to affect, by injunction or	2180
otherwise, the issuance or enforcement of an order issued under	2181
section 1315.15, 1315.151, or 1315.152 of the Revised Code or to	2182
review, modify, suspend, terminate, or set aside an order issued	2183
under section 1315.15, 1315.151, or 1315.152 of the Revised Code,	2184
except as provided in this section, in division (G) of section	2185
1315.15 of the Revised Code for an order issued pursuant to	2186
division (C)(3) or (4) of section 1315.15 of the Revised Code, or	2187
in division (F) of section 1315.151 of the Revised Code for an	2188
order issued pursuant to division (C)(3) or (4) of section	2189
1315.151 of the Revised Code.	2190

(E) Nothing in this section or in any other section of the	2191
Revised Code or rules implementing this or any other section of	2192
the Revised Code shall prohibit or limit the superintendent from	2193
doing any of the following:	2194

(1) Issuing orders pursuant to section 1315.15, 1315.151, or	2195
1315.152 of the Revised Code;	2196

(2) Individually or contemporaneously taking any other action	2197
provided by law or rule with respect to a licensee or other	2198
person;	2199

(3) Taking any action provided by law or rule, whether alone	2200
or in conjunction with another regulatory agency or authority,	2201
with respect to a licensee or other person.	2202

Sec. 1315.18.  (A) A licensee that ceases to do business in	2203
this state shall do so in accordance with a plan approved by the	2204
superintendent of financial institutions or pursuant to directions	2205
issued by the superintendent in connection with the revocation or	2206
suspension of the licensee's license pursuant to section 1315.151	2207
of the Revised Code.	2208

(B) When a licensee ceases to do business in this state, if	2209
the superintendent considers it necessary to protect the interests	2210
of the licensee's customers, the superintendent may do either of	2211
the following:	2212

(1) Take control of permissible investments or other assets	2213
owned by the licensee equal in value to the licensee's	2214
outstandings in this state;	2215

(2) Require the sale of the licensee's contracts for	2216
continuing services or require the licensee's termination of those	2217
contracts with compensation to the customers for loss of the	2218
services.	2219

(C) No licensee shall fail to comply with this section.

2220

Sec. 1315.21.  As used in sections 1315.21 to 1315.30 of the	2221
Revised Code:	2222

(A) "Check" means any check, draft, money order, or other	2223
instrument for the transmission or payment of money. "Check" does	2224
not include a travelers check.	2225

(B) "Check-cashing business" means any person whothat	2226
engages in the business of cashing checks for a fee.	2227
"Check-cashing business" does not include any of the following:	2228

(1) A licensee as defined in section 1321.01 of the Revised	2229
Code;	2230

(2) A registrant as defined in section 1321.51 of the Revised	2231
Code;	2232

(3) A financial institution;

2233

(4) A person whothat is primarily engaged in the business of	2234
selling tangible personal property or services at retail and does	2235
not derive more than five per cent of histhe person's gross	2236
income from the cashing of checks;	2237

(5) A person licensed under sections 1315.01 to 1315.11	2238
1315.18 of the Revised Code, or any agent of that person, to the	2239
extent that the person or the agent is engaged in cashing checks	2240
or travelers checks issued by the licensed person.	2241

(C) "Financial institution" means any bank, trust company,	2242
savings bank, savings and loan association, or credit union, which	2243
that is incorporated or organized under the laws of the United	2244
States or of any state thereof, or of Canada or any province	2245
thereof, and subject to regulation or supervision by such country,	2246
state, or province.	2247

(D) "Superintendent of financial institutions" includes the	2248
deputy superintendent for consumer finance as provided in section	2249
1181.21 of the Revised Code.	2250

Sec. 1315.99.  (A) Whoever violates section 1315.11, section	2251
1315.17, division (A) or (B) of section 1315.28, section 1315.41,	2252
or division (E)(2) of section 1315.53 of the Revised Code is	2253
guilty of a misdemeanor of the first degree.	2254

(B) Whoever violates division (F)(1) of section 1315.53 or	2255
division (B) of section 1315.54 of the Revised Code is guilty of a	2256
felony of the fourth degree.	2257

(C) Whoever violates division (A) of section 1315.55 of the	2258
Revised Code is guilty of money laundering. A violation of	2259
division (A)(1), (2), (3), (4), or (5) of that section is a felony	2260
of the third degree, and, in addition, the court may impose a fine	2261
of seven thousand five hundred dollars or twice the value of the	2262
property involved, whichever is greater.	2263

(D) Whoever knowingly violates division (A) of section	2264
1315.02, or intentionally violates division (B)(1) of section	2265
1315.081, of the Revised Code is guilty of a felony of the fourth	2266
degree.	2267

Sec. 1733.25.  (A) A credit union may make loans or other	2268
extensions of credit to members for provident and productive	2269
purposes as authorized by law, including rules adopted by the	2270
superintendent of credit unions; the articles; and the	2271
regulations; and subject to policies adopted by the credit	2272
committee and approved by the board of directors.	2273

(B) Upon the approval of the board of directors, a credit	2274
union may make loans or other extensions of credit to other credit	2275
unions, provided that loans or other extensions of credit made to	2276
other credit unions need not have the approval of the board of	2277
directors on a per case basis. The total of all such loans or	2278
other extensions of credit, including the aggregate of all money	2279
paid into any trust established by one or more credit unions for	2280
the purpose of making loans or other extensions of credit to other	2281
credit unions, shall not exceed twenty-five per cent of the shares	2282
and undivided earnings of the lending credit union, except that	2283
this percentage limitation does not apply to corporate credit	2284
unions.	2285

(C) The interest on any loan or other extension of credit	2286
made by a credit union shall not exceed one and one-half per cent	2287
per month on unpaid balances. Such interest may accrue and be	2288
chargeable upon a monthly basis, and may be computed upon the	2289
unpaid balance of the loan or other extension of credit as of the	2290
end of the previous calendar month.	2291

Such interest may be accrued and charged by any technique	2292
approved by the superintendent so long as the effective interest	2293
rate on any loan or other extension of credit does not exceed the	2294
amount permitted to be charged by the computation authorized in	2295
this division.	2296

(D) A credit union may accept security in such form and under	2297
rules as shall be set forth in the articles, the regulations, or	2298
established by the credit committee and approved by the board of	2299
directors.	2300

(E)(1) The credit union shall have a lien on the membership	2301
share, shares, deposits, and accumulated dividends and interest of	2302
a member in an individual, joint, trust, or payable on death	2303
account for any obligation owed to the credit union by that member	2304
or for any loan co-signed or guaranteed by the member or account	2305
holder; provided, however, that a credit union shall not have a	2306
lien upon the funds in an individual retirement account or an	2307
account established pursuant to the Internal Revenue Code of the	2308
United States.	2309

(2) A credit union may refuse to allow withdrawals from any	2310
share or deposit account by a member while the member has any	2311
outstanding obligation to the credit union.	2312

(F) Notwithstanding any limitation provided in any other	2313
provision of this chapter or Chapter 1343. of the Revised Code, a	2314
credit union may enter into a loan agreement with a member in	2315
accordance with all of the following:	2316

(1) The loan is for any amount up to one thousand dollars.

2317

(2) The term of the loan is thirty days or less.

2318

(3) The credit union may charge a fee in addition to any	2319
interest authorized by law in connection with the loan, which fee	2320
is not to be included in the computation of interest for any	2321
provision of the Revised Code, including division (C) of this	2322
section, that prescribes, regulates, or limits interest charged,	2323
collected, or received in connection with a transaction.	2324

(4) The total interest, fees, and other costs of the loan	2325
does not exceed ten per cent of the principal amount.	2326

(5) A member shall not have more than one loan under division	2327
(F) of this section outstanding at any one time with the credit	2328
union.	2329

(6) The loan is not being made to a member for purposes of	2330
retiring an existing loan between the credit union and that	2331
member, which existing loan was made pursuant to division (F) of	2332
this section.	2333

(G)(1) Subject to division (G)(2) of this section and any	2334
restrictions or requirements established by the superintendent, in	2335
connection with any loan or extension of credit, a credit union	2336
may enter into a debt suspension agreement or debt cancellation	2337
contract with the borrower or borrowers.	2338

(2) A credit union shall not offer or finance, directly or	2339
indirectly, a debt suspension agreement or debt cancellation	2340
contract requiring a lump sum, single payment for the agreement or	2341
contract payable at the outset of the agreement or contract, if	2342
the debt subject to the agreement or contract is secured by one to	2343
four family, residential real property.	2344

(3) For purposes of division (G) of this section, "debt	2345
cancellation contract" and "debt suspension agreement" have the	2346
same meanings as in 12 C.F.R part 37.	2347

Sec. 3953.30. (A) As used in this section:

2348

(1) "Residential mortgage loan" means an obligation to pay a	2349
sum of money evidenced by a note and secured by a lien upon real	2350
property located within this state containing two or fewer	2351
residential units or on which two or fewer residential units are	2352
to be constructed and includes such an obligation on a residential	2353
condominium or cooperative unit.	2354

(2) "Residential mortgage lender" means any person,	2355
including, but not limited to, banks, savings and loan	2356
associations, mortgage brokers, credit unions, or savings banks,	2357
that lends money or extends or grants credit and obtains a	2358
residential mortgage to assure payment of the debt.	2359

(B) A title insurance agent issuing a lender's title	2360
insurance policy in conjunction with a residential mortgage loan	2361
made simultaneously with the purchase of all or part of the real	2362
property securing the loan, where no owner's title insurance	2363
policy has been requested, shall give written notice, on a form	2364
prescribed or approved by the superintendent of insurance, to the	2365
mortgagor at the time the commitment is prepared. The notice shall	2366
explain that a lender's title insurance policy is to be issued	2367
protecting the residential mortgage lender, and that the policy	2368
does not provide title insurance protection to the mortgagor as	2369
the owner of the property being purchased. The notice shall	2370
explain what an owner's title insurance policy insures against and	2371
what possible exposures exist for the mortgagor that could be	2372
insured against through the purchase of an owner's title insurance	2373
policy. The notice shall state that the mortgagor may obtain an	2374
owner's title insurance policy protecting the mortgagor as the	2375
owner of the property, either at a specified cost or at an	2376
approximate cost if the proposed coverages or amount of insurance	2377
is not then known. The title insurance agent shall maintain a copy	2378
of the notice, signed by the mortgagor, in the relevant	2379
underwriting file for at least ten years after the effective date	2380
of the lender's title insurance policy.	2381

Sec. 3953.32. (A) At the time of closean order is placed	2382
with a title insurance company for issuance of a title insurance	2383
policy, the title insurance company or the title insurance agent	2384
shall offer closing or settlement protection to the lender,	2385
borrower, and seller of the property, and to any applicant for	2386
title insurance.	2387

(B) The closing or settlement protection offered pursuant to	2388
this section shall indemnify any lender, borrower, seller, and	2389
applicant that has requested the protection, both individually and	2390
collectively, against the loss of settlement funds resulting from	2391
any of the following acts of the title insurance company's named	2392
title insurance agent or anyone acting on the agent's behalf:	2393

(1) Theft, misappropriation, fraud, or any other failure to	2394
properly disburse settlement, closing, or escrow funds;	2395

(2) Failure to comply with any applicable written closing	2396
instructions, when agreed to by the title insurance agent.	2397

(C) The issuance of closing or settlement protection by a	2398
title insurance company pursuant to division (A) of this section	2399
is part of the business of title insurance for purposes of Chapter	2400
3953. of the Revised Code.	2401

(D) Except as provided in division (A) of this section, a	2402
title insurance company shall not offer or issue any coverage	2403
purporting to indemnify against a person's improper acts or	2404
omissions in connection with escrow, settlement, or closing	2405
services.	2406

(E) The superintendent of insurance may adopt rules in	2407
accordance with Chapter 119. of the Revised Code as the	2408
superintendent considers necessary to carry out the purposes of	2409
this section, including, but not limited to, rules that detail the	2410
specific language that must be included in the written document	2411
offering closing or settlement protection as provided for in	2412
division (A) of this section.	2413

Sec. 3953.33. (A) Every title insurance agent or agency that	2414
handles escrow, settlement, closing, or security deposit accounts	2415
shall have an annual independent review made of its escrow,	2416
settlement, closing, and security deposit accounts on a	2417
calendar-yearfiscal-year basis within ninety days after the close	2418
of the previous fiscal year. The title insurance agent or agency	2419
shall provide proof of the annual review to each title insurance	2420
company that it represents. The superintendent of insurance shall	2421
promulgate rules under Chapter 119. of the Revised Code setting	2422
forth the minimum threshold level at which a review is required,	2423
the standards of the review, the minimum qualifications of the	2424
independent party conducting the review, and the form of the	2425
report that is required. The superintendent may also require title	2426
insurance agents or agencies to provide a copy of their annual	2427
review reports to the superintendent. The annual review required	2428
by this division does not apply to interest on lawyer's trust	2429
accounts established and maintained by an attorney pursuant to	2430
sections 4705.09 and 4705.10 of the Revised Code.	2431

(B) Title insurance agents and agencies shall allow the	2432
superintendent and each and every title insurer that they	2433
represent reasonable access to all of their escrow, settlement,	2434
closing, and security deposit accounts and any and all supporting	2435
account information in order to ascertain the safety and security	2436
of the funds held by the title insurance agent or agency.	2437

(C) Title insurance agents and agencies shall maintain	2438
sufficient records of their affairs, including their escrow	2439
operations and escrow trust accounts, so that the superintendent	2440
may adequately ensure that the title insurance agent or agency is	2441
in compliance of this chapter. Records kept pursuant to this	2442
section shall be kept for a period of not less than ten years	2443
following the transactions to which the records relate. The	2444
superintendent may prescribe the specific records and documents to	2445
be kept.	2446

Sec. 4719.01.  (A) As used in sections 4719.01 to 4719.18 of	2447
the Revised Code:	2448

(1) "Affiliate" means a business entity that is owned by,	2449
operated by, controlled by, or under common control with another	2450
business entity.	2451

(2) "Communication" means a written or oral notification or	2452
advertisement that meets both of the following criteria, as	2453
applicable:	2454

(a) The notification or advertisement is transmitted by or on	2455
behalf of the seller of goods or services and by or through any	2456
printed, audio, video, cinematic, telephonic, or electronic means.	2457

(b) In the case of a notification or advertisement other than	2458
by telephone, either of the following conditions is met:	2459

(i) The notification or advertisement is followed by a	2460
telephone call from a telephone solicitor or salesperson.	2461

(ii) The notification or advertisement invites a response by	2462
telephone, and, during the course of that response, a telephone	2463
solicitor or salesperson attempts to make or makes a sale of goods	2464
or services. As used in division (A)(2)(b)(ii) of this section,	2465
"invites a response by telephone" excludes the mere listing or	2466
inclusion of a telephone number in a notification or	2467
advertisement.	2468

(3) "Gift, award, or prize" means anything of value that is	2469
offered or purportedly offered, or given or purportedly given by	2470
chance, at no cost to the receiver and with no obligation to	2471
purchase goods or services. As used in this division, "chance"	2472
includes a situation in which a person is guaranteed to receive an	2473
item and, at the time of the offer or purported offer, the	2474
telephone solicitor does not identify the specific item that the	2475
person will receive.	2476

(4) "Goods or services" means any real property or any	2477
tangible or intangible personal property, or services of any kind	2478
provided or offered to a person. "Goods or services" includes, but	2479
is not limited to, advertising; labor performed for the benefit of	2480
a person; personal property intended to be attached to or	2481
installed in any real property, regardless of whether it is so	2482
attached or installed; timeshare estates or licenses; and extended	2483
service contracts.	2484

(5) "Purchaser" means a person that is solicited to become or	2485
does become financially obligated as a result of a telephone	2486
solicitation.	2487

(6) "Salesperson" means an individual who is employed,	2488
appointed, or authorized by a telephone solicitor to make	2489
telephone solicitations but does not mean any of the following:	2490

(a) An individual who comes within one of the exemptions in	2491
division (B) of this section;	2492

(b) An individual employed, appointed, or authorized by a	2493
person who comes within one of the exemptions in division (B) of	2494
this section;	2495

(c) An individual under a written contract with a person who	2496
comes within one of the exemptions in division (B) of this	2497
section, if liability for all transactions with purchasers is	2498
assumed by the person so exempted.	2499

(7) "Telephone solicitation" means a communication to a	2500
person that meets both of the following criteria:	2501

(a) The communication is initiated by or on behalf of a	2502
telephone solicitor or by a salesperson.	2503

(b) The communication either represents a price or the	2504
quality or availability of goods or services or is used to induce	2505
the person to purchase goods or services, including, but not	2506
limited to, inducement through the offering of a gift, award, or	2507
prize.	2508

(8) "Telephone solicitor" means a person that engages in	2509
telephone solicitation directly or through one or more	2510
salespersons either from a location in this state, or from a	2511
location outside this state to persons in this state. "Telephone	2512
solicitor" includes, but is not limited to, any such person that	2513
is an owner, operator, officer, or director of, partner in, or	2514
other individual engaged in the management activities of, a	2515
business.	2516

(B) A telephone solicitor is exempt from the provisions of	2517
sections 4719.02 to 4719.18 and section 4719.99 of the Revised	2518
Code if the telephone solicitor is any one of the following:	2519

(1) A person engaging in a telephone solicitation that is a	2520
one-time or infrequent transaction not done in the course of a	2521
pattern of repeated transactions of a like nature;	2522

(2) A person engaged in telephone solicitation solely for	2523
religious or political purposes; a charitable organization,	2524
fund-raising counsel, or professional solicitor in compliance with	2525
the registration and reporting requirements of Chapter 1716. of	2526
the Revised Code; or any person or other entity exempt under	2527
section 1716.03 of the Revised Code from filing a registration	2528
statement under section 1716.02 of the Revised Code;	2529

(3) A person, making a telephone solicitation involving a	2530
home solicitation sale as defined in section 1345.21 of the	2531
Revised Code, that makes the sales presentation and completes the	2532
sale at a later, face-to-face meeting between the seller and the	2533
purchaser rather than during the telephone solicitation. However,	2534
if the person, following the telephone solicitation, causes	2535
another person to collect the payment of any money, this exemption	2536
does not apply.	2537

(4) A licensed securities, commodities, or investment broker,	2538
dealer, investment advisor, or associated person when making a	2539
telephone solicitation within the scope of the person's license.	2540
As used in division (B)(4) of this section, "licensed securities,	2541
commodities, or investment broker, dealer, investment advisor, or	2542
associated person" means a person subject to licensure or	2543
registration as such by the securities and exchange commission;	2544
the National Association of Securities Dealers or other	2545
self-regulatory organization, as defined by 15 U.S.C.A. 78c; by	2546
the division of securities under Chapter 1707. of the Revised	2547
Code; or by an official or agency of any other state of the United	2548
States.	2549

(5)(a) A person primarily engaged in soliciting the sale of a	2550
newspaper of general circulation;	2551

(b) As used in division (B)(5)(a) of this section, "newspaper	2552
of general circulation" includes, but is not limited to, both of	2553
the following:	2554

(i) A newspaper that is a daily law journal designated as an	2555
official publisher of court calendars pursuant to section 2701.09	2556
of the Revised Code;	2557

(ii) A newspaper or publication that has at least twenty-five	2558
per cent editorial, non-advertising content, exclusive of inserts,	2559
measured relative to total publication space, and an audited	2560
circulation to at least fifty per cent of the households in the	2561
newspaper's retail trade zone as defined by the audit.	2562

(6)(a) An issuer, or its subsidiary, that has a class of	2563
securities to which all of the following apply:	2564

(i) The class of securities is subject to section 12 of the	2565
"Securities Exchange Act of 1934," 15 U.S.C.A. 78l, and is	2566
registered or is exempt from registration under 15 U.S.C.A.	2567
78l(g)(2)(A), (B), (C), (E), (F), (G), or (H);	2568

(ii) The class of securities is listed on the New York stock	2569
exchange, the American stock exchange, or the NASDAQ national	2570
market system;	2571

(iii) The class of securities is a reported security as	2572
defined in 17 C.F.R. 240.11Aa3-1(a)(4).	2573

(b) An issuer, or its subsidiary, that formerly had a class	2574
of securities that met the criteria set forth in division	2575
(B)(6)(a) of this section if the issuer, or its subsidiary, has a	2576
net worth in excess of one hundred million dollars, files or its	2577
parent files with the securities and exchange commission an S.E.C.	2578
form 10-K, and has continued in substantially the same business	2579
since it had a class of securities that met the criteria in	2580
division (B)(6)(a) of this section. As used in division (B)(6)(b)	2581
of this section, "issuer" and "subsidiary" include the successor	2582
to an issuer or subsidiary.	2583

(7) A person soliciting a transaction regulated by the	2584
commodity futures trading commission, if the person is registered	2585
or temporarily registered for that activity with the commission	2586
under 7 U.S.C.A. 1 et. seq. and the registration or temporary	2587
registration has not expired or been suspended or revoked;	2588

(8) A person soliciting the sale of any book, record, audio	2589
tape, compact disc, or video, if the person allows the purchaser	2590
to review the merchandise for at least seven days and provides a	2591
full refund within thirty days to a purchaser who returns the	2592
merchandise or if the person solicits the sale on behalf of a	2593
membership club operating in compliance with regulations adopted	2594
by the federal trade commission in 16 C.F.R. 425;	2595

(9) A supervised financial institution or its subsidiary. As	2596
used in division (B)(9) of this section, "supervised financial	2597
institution" means a bank, trust company, savings and loan	2598
association, savings bank, credit union, industrial loan company,	2599
consumer finance lender, commercial finance lender, or institution	2600
described in section 2(c)(2)(F) of the "Bank Holding Company Act	2601
of 1956," 12 U.S.C.A. 1841(c)(2)(F), as amended, supervised by an	2602
official or agency of the United States, this state, or any other	2603
state of the United States; or a licensee or registrant under	2604
sections 1321.01 to 1321.19, 1321.51 to 1321.60, or 1321.71 to	2605
1321.83 of the Revised Code.	2606

(10)(a) An insurance company, association, or other	2607
organization that is licensed or authorized to conduct business in	2608
this state by the superintendent of insurance pursuant to Title	2609
XXXIX of the Revised Code or Chapter 1751. of the Revised Code,	2610
when soliciting within the scope of its license or authorization.	2611

(b) A licensed insurance broker, agent, or solicitor when	2612
soliciting within the scope of the person's license. As used in	2613
division (B)(10)(b) of this section, "licensed insurance broker,	2614
agent, or solicitor" means any person licensed as an insurance	2615
broker, agent, or solicitor by the superintendent of insurance	2616
pursuant to Title XXXIX of the Revised Code.	2617

(11) A person soliciting the sale of services provided by a	2618
cable television system operating under authority of a	2619
governmental franchise or permit;	2620

(12) A person soliciting a business-to-business sale under	2621
which any of the following conditions are met:	2622

(a) The telephone solicitor has been operating continuously	2623
for at least three years under the same business name under which	2624
it solicits purchasers, and at least fifty-one per cent of its	2625
gross dollar volume of sales consists of repeat sales to existing	2626
customers to whom it has made sales under the same business name.	2627

(b) The purchaser business intends to resell the goods	2628
purchased.	2629

(c) The purchaser business intends to use the goods or	2630
services purchased in a recycling, reuse, manufacturing, or	2631
remanufacturing process.	2632

(d) The telephone solicitor is a publisher of a periodical or	2633
of magazines distributed as controlled circulation publications as	2634
defined in division (CC) of section 5739.01 of the Revised Code	2635
and is soliciting sales of advertising, subscriptions, reprints,	2636
lists, information databases, conference participation or	2637
sponsorships, trade shows or media products related to the	2638
periodical or magazine, or other publishing services provided by	2639
the controlled circulation publication.	2640

(13) A person that, not less often than once each year,	2641
publishes and delivers to potential purchasers a catalog that	2642
complies with both of the following:	2643

(a) It includes all of the following:

2644

(i) The business address of the seller;

2645

(ii) A written description or illustration of each good or	2646
service offered for sale;	2647

(iii) A clear and conspicuous disclosure of the sale price of	2648
each good or service; shipping, handling, and other charges; and	2649
return policy;	2650

(b) One of the following applies:

2651

(i) The catalog includes at least twenty-four pages of	2652
written material and illustrations, is distributed in more than	2653
one state, and has an annual postage-paid mail circulation of not	2654
less than two hundred fifty thousand households;	2655

(ii) The catalog includes at least ten pages of written	2656
material or an equivalent amount of material in electronic form on	2657
the internet or an on-line computer service, the person does not	2658
solicit customers by telephone but solely receives telephone calls	2659
made in response to the catalog, and during the calls the person	2660
takes orders but does not engage in further solicitation of the	2661
purchaser. As used in division (B)(13)(b)(ii) of this section,	2662
"further solicitation" does not include providing the purchaser	2663
with information about, or attempting to sell, any other item in	2664
the catalog that prompted the purchaser's call or in a	2665
substantially similar catalog issued by the seller.	2666

(14) A political subdivision or instrumentality of the United	2667
States, this state, or any state of the United States;	2668

(15) A college or university or any other public or private	2669
institution of higher education in this state;	2670

(16) A public utility as defined in section 4905.02 of the	2671
Revised Code or a retail natural gas supplier as defined in	2672
section 4929.01 of the Revised Code, if the utility or supplier is	2673
subject to regulation by the public utilities commission, or the	2674
affiliate of the utility or supplier;	2675

(17) A person that solicits sales through a television	2676
program or advertisement that is presented in the same market area	2677
no fewer than twenty days per month or offers for sale no fewer	2678
than ten distinct items of goods or services; and offers to the	2679
purchaser an unconditional right to return any good or service	2680
purchased within a period of at least seven days and to receive a	2681
full refund within thirty days after the purchaser returns the	2682
good or cancels the service;	2683

(18)(a) A person that, for at least one year, has been	2684
operating a retail business under the same name as that used in	2685
connection with telephone solicitation and both of the following	2686
occur on a continuing basis:	2687

(i) The person either displays goods and offers them for	2688
retail sale at the person's business premises or offers services	2689
for sale and provides them at the person's business premises.	2690

(ii) At least fifty-one per cent of the person's gross dollar	2691
volume of retail sales involves purchases of goods or services at	2692
the person's business premises.	2693

(b) An affiliate of a person that meets the requirements in	2694
division (B)(18)(a) of this section if the affiliate meets all of	2695
the following requirements:	2696

(i) The affiliate has operated a retail business for a period	2697
of less than one year;	2698

(ii) The affiliate either displays goods and offers them for	2699
retail sale at the affiliate's business premises or offers	2700
services for sale and provides them at the affiliate's business	2701
premises;	2702

(iii) At least fifty-one per cent of the affiliate's gross	2703
dollar volume of retail sales involves purchases of goods or	2704
services at the affiliate's business premises.	2705

(c) A person that, for a period of less than one year, has	2706
been operating a retail business in this state under the same name	2707
as that used in connection with telephone solicitation, as long as	2708
all of the following requirements are met:	2709

(i) The person either displays goods and offers them for	2710
retail sale at the person's business premises or offers services	2711
for sale and provides them at the person's business premises;	2712

(ii) The goods or services that are the subject of telephone	2713
solicitation are sold at the person's business premises, and at	2714
least sixty-five per cent of the person's gross dollar volume of	2715
retail sales involves purchases of goods or services at the	2716
person's business premises;	2717

(iii) The person conducts all telephone solicitation	2718
activities according to sections 310.3, 310.4, and 310.5 of the	2719
telemarketing sales rule adopted by the federal trade commission	2720
in 16 C.F.R. part 310.	2721

(19) A person who performs telephone solicitation sales	2722
services on behalf of other persons and to whom one of the	2723
following applies:	2724

(a) The person has operated under the same ownership,	2725
control, and business name for at least five years, and the person	2726
receives at least seventy-five per cent of its gross revenues from	2727
written telephone solicitation contracts with persons who come	2728
within one of the exemptions in division (B) of this section.	2729

(b) The person is an affiliate of one or more exempt persons	2730
and makes telephone solicitations on behalf of only the exempt	2731
persons of which it is an affiliate.	2732

(c) The person makes telephone solicitations on behalf of	2733
only exempt persons, the person and each exempt person on whose	2734
behalf telephone solicitations are made have entered into a	2735
written contract that specifies the manner in which the telephone	2736
solicitations are to be conducted and that at a minimum requires	2737
compliance with the telemarketing sales rule adopted by the	2738
federal trade commission in 16 C.F.R. part 310, and the person	2739
conducts the telephone solicitations in the manner specified in	2740
the written contract.	2741

(d) The person performs telephone solicitation for religious	2742
or political purposes, a charitable organization, a fund-raising	2743
council, or a professional solicitor in compliance with the	2744
registration and reporting requirements of Chapter 1716. of the	2745
Revised Code; and meets all of the following requirements:	2746

(i) The person has operated under the same ownership,	2747
control, and business name for at least five years, and the person	2748
receives at least fifty-one per cent of its gross revenues from	2749
written telephone solicitation contracts with persons who come	2750
within the exemption in division (B)(2) of this section;	2751

(ii) The person does not conduct a prize promotion or offer	2752
the sale of an investment opportunity; and	2753

(iii) The person conducts all telephone solicitation	2754
activities according to sections 310.3, 310.4, and 310.5 of the	2755
telemarketing sales rules adopted by the federal trade commission	2756
in 16 C.F.R. part 310.	2757

(20) A person that is a licensed real estate salesperson or	2758
broker under Chapter 4735. of the Revised Code when soliciting	2759
within the scope of the person's license;	2760

(21)(a) Either of the following:

2761

(i) A publisher that solicits the sale of the publisher's	2762
periodical or magazine of general, paid circulation, or a person	2763
that solicits a sale of that nature on behalf of a publisher under	2764
a written agreement directly between the publisher and the person.	2765

(ii) A publisher that solicits the sale of the publisher's	2766
periodical or magazine of general, paid circulation, or a person	2767
that solicits a sale of that nature as authorized by a publisher	2768
under a written agreement directly with a publisher's	2769
clearinghouse provided the person is a resident of Ohio for more	2770
than three years and initiates all telephone solicitations from	2771
Ohio and the person conducts the solicitation and sale in	2772
compliance with 16 C.F.R. Partpart 310, as adopted by the federal	2773
trade commission.	2774

(b) As used in division (B)(21) of this section, "periodical	2775
or magazine of general, paid circulation" excludes a periodical or	2776
magazine circulated only as part of a membership package or given	2777
as a free gift or prize from the publisher or person.	2778

(22) A person that solicits the sale of food, as defined in	2779
section 3715.01 of the Revised Code, or the sale of products of	2780
horticulture, as defined in section 5739.01 of the Revised Code,	2781
if the person does not intend the solicitation to result in, or	2782
the solicitation actually does not result in, a sale that costs	2783
the purchaser an amount greater than five hundred dollars.	2784

(23) A funeral director licensed pursuant to Chapter 4717. of	2785
the Revised Code when soliciting within the scope of that license,	2786
if both of the following apply:	2787

(a) The solicitation and sale are conducted in compliance	2788
with 16 C.F.R. part 453, as adopted by the federal trade	2789
commission, and with sections 1107.33 and 1345.21 to 1345.28 of	2790
the Revised Code;	2791

(b) The person provides to the purchaser of any preneed	2792
funeral contract a notice that clearly and conspicuously sets	2793
forth the cancellation rights specified in division (G) of section	2794
1107.33 of the Revised Code, and retains a copy of the notice	2795
signed by the purchaser.	2796

(24) A person, or affiliate thereof, licensed to sell or	2797
issue Ohio instruments designated as travelers checks pursuant to	2798
sections 1315.01 to 1315.111315.18 of the Revised Code.	2799

(25) A person that solicits sales from its previous	2800
purchasers and meets all of the following requirements:	2801

(a) The solicitation is made under the same business name	2802
that was previously used to sell goods or services to the	2803
purchaser;	2804

(b) The person has, for a period of not less than three	2805
years, operated a business under the same business name as that	2806
used in connection with telephone solicitation;	2807

(c) The person does not conduct a prize promotion or offer	2808
the sale of an investment opportunity;	2809

(d) The person conducts all telephone solicitation activities	2810
according to sections 310.3, 310.4, and 310.5 of the telemarketing	2811
sales rules adopted by the federal trade commission in 16 C.F.R.	2812
part 310;	2813

(e) Neither the person nor any of its principals has been	2814
convicted of, pleaded guilty to, or has entered a plea of no	2815
contest for a felony or a theft offense as defined in sections	2816
2901.02 and 2913.01 of the Revised Code or similar law of another	2817
state or of the United States;	2818

(f) Neither the person nor any of its principals has had	2819
entered against them an injunction or a final judgment or order,	2820
including an agreed judgment or order, an assurance of voluntary	2821
compliance, or any similar instrument, in any civil or	2822
administrative action involving engaging in a pattern of corrupt	2823
practices, fraud, theft, embezzlement, fraudulent conversion, or	2824
misappropriation of property; the use of any untrue, deceptive, or	2825
misleading representation; or the use of any unfair, unlawful,	2826
deceptive, or unconscionable trade act or practice.	2827

(26) An institution defined as a home health agency in	2828
section 3701.881 of the Revised Code, that conducts all telephone	2829
solicitation activities according to sections 310.3, 310.4, and	2830
310.5 of the telemarketing sales rules adopted by the federal	2831
trade commission in 16 C.F.R. part 310, and engages in telephone	2832
solicitation only within the scope of the institution's	2833
certification, accreditation, contract with the department of	2834
aging, or status as a home health agency; and that meets one of	2835
the following requirements:	2836

(a) The institution is certified as a provider of home health	2837
services under Title XVIII of the Social Security Act, 49 Stat.	2838
620, 42 U.S.C. 301, as amended;	2839

(b) The institution is accredited by either the joint	2840
commission on accreditation of health care organizations or the	2841
community health accreditation program;	2842

(c) The institution is providing passport services under the	2843
direction of the Ohio department of aging under section 173.40 of	2844
the Revised Code;	2845

(d) An affiliate of an institution that meets the	2846
requirements of division (B)(26)(a), (b), or (c) of this section	2847
when offering for sale substantially the same goods and services	2848
as those that are offered by the institution that meets the	2849
requirements of division (B)(26)(a), (b), or (c) of this section.	2850

(27) A person licensed to provide a hospice care program by	2851
the department of health pursuant to section 3712.04 of the	2852
Revised Code when conducting telephone solicitations within the	2853
scope of the person's license and according to sections 310.3,	2854
310.4, and 310.5 of the telemarketing sales rules adopted by the	2855
federal trade commission in 16 C.F.R. part 310.	2856

Sec. 4973.17.  (A)(1) Upon the application of any bank;	2857
savings and loan association; savings bank; credit union; or	2858
association of banks, savings and loan associations, savings	2859
banks, or credit unions in this state, the secretary of state may	2860
appoint and commission any persons that the bank; savings and loan	2861
association; savings bank; credit union; or association of banks,	2862
savings and loan associations, savings banks, or credit unions	2863
designates, or as many of those persons as the secretary of state	2864
considers proper, to act as police officers for and on the	2865
premises of that bank; savings and loan association; savings bank;	2866
credit union; or association of banks, savings and loan	2867
associations, savings banks, or credit unions; or elsewhere, when	2868
directly in the discharge of their duties. Police officers so	2869
appointed shall be citizens of this state and of good character	2870
and. Police officers so appointed who start to perform their	2871
duties on or after April 14, 2006, shall have successfully	2872
completedcomplete a training program approved by the Ohio peace	2873
officer training commission described in section 109.71 of the	2874
Revised Code and be certified by the commission within six months	2875
after starting to perform their duties. TheyPolice officers so	2876
appointed shall hold office for three years, unless, for good	2877
cause shown, their commission is revoked by the secretary of	2878
state, or by the bank; savings and loan association; savings bank;	2879
credit union; or association of banks, savings and loan	2880
associations, savings banks, or credit unions, as provided by law.	2881

(2) Persons commissioned as police officers pursuant to	2882
division (A) of this section prior to April 14, 2006, who have not	2883
successfully completed a training program approved by the Ohio	2884
peace officer training commission, and who have not been certified	2885
by the commission, may be reappointed and re-commissioned by the	2886
secretary of state only during the person's continuous employment	2887
as a police officer by the institution for which the person was	2888
employed on April 14, 2006, or by a successor institution to the	2889
institution for which the person was employed on April 14, 2006.	2890
The secretary of state shall note on such appointments and	2891
commissions that the person is not a peace officer as defined in	2892
section 109.71 of the Revised Code.	2893

(3) For the exclusive purpose of assigning break in service	2894
update training as prescribed in rule 109:2-1-12 (D) of the	2895
Administrative Code, a police officer appointed under division (A)	2896
of this section, who began performing police officer duties on or	2897
before April 14, 2006, shall be credited as holding a valid peace	2898
officer appointment retroactive to the date on which the officer	2899
began performing these duties.	2900

(B) Upon the application of a company owning or using a	2901
railroad in this state and subject to section 4973.171 of the	2902
Revised Code, the secretary of state may appoint and commission	2903
any persons that the railroad company designates, or as many of	2904
those persons as the secretary of state considers proper, to act	2905
as police officers for and on the premises of the railroad	2906
company, its affiliates or subsidiaries, or elsewhere, when	2907
directly in the discharge of their duties. Police officers so	2908
appointed, within the time set by the Ohio peace officer training	2909
commission, shall successfully complete a commission approved	2910
training program and be certified by the commission. They shall	2911
hold office for three years, unless, for good cause shown, their	2912
commission is revoked by the secretary of state, or railroad	2913
company, as provided by law.	2914

Any person holding a similar commission in another state may	2915
be commissioned and may hold office in this state without	2916
completing the approved training program required by this division	2917
provided that the person has completed a substantially equivalent	2918
training program in the other state. The Ohio peace officer	2919
training commission shall determine whether a training program in	2920
another state meets the requirements of this division.	2921

(C) Upon the application of any company under contract with	2922
the United States atomic energy commission for the construction or	2923
operation of a plant at a site owned by the commission, the	2924
secretary of state may appoint and commission persons the company	2925
designates, not to exceed one hundred fifty, to act as police	2926
officers for the company at the plant or site owned by the	2927
commission. Police officers so appointed shall be citizens of this	2928
state and of good character. They shall hold office for three	2929
years, unless, for good cause shown, their commission is revoked	2930
by the secretary of state or by the company, as provided by law.	2931

(D)(1) Upon the application of any hospital that is operated	2932
by a public hospital agency or a nonprofit hospital agency and	2933
that employs and maintains its own proprietary police department	2934
or security department and subject to section 4973.171 of the	2935
Revised Code, the secretary of state may appoint and commission	2936
any persons that the hospital designates, or as many of those	2937
persons as the secretary of state considers proper, to act as	2938
police officers for the hospital. No person who is appointed as a	2939
police officer under this division shall engage in any duties or	2940
activities as a police officer for the hospital or any affiliate	2941
or subsidiary of the hospital unless all of the following apply:	2942

(a) The chief of police of the municipal corporation in which	2943
the hospital is located or, if the hospital is located in the	2944
unincorporated area of a county, the sheriff of that county has	2945
granted approval to the hospital to permit persons appointed as	2946
police officers under this division to engage in those duties and	2947
activities. The approval required by this division is general in	2948
nature and is intended to cover in the aggregate all persons	2949
appointed as police officers for the hospital under this division;	2950
a separate approval is not required for each appointee on an	2951
individual basis.	2952

(b) Subsequent to the grant of approval described in division	2953
(D)(1)(a) of this section, the hospital has entered into a written	2954
agreement with the chief of police of the municipal corporation in	2955
which the hospital is located or, if the hospital is located in	2956
the unincorporated area of a county, with the sheriff of that	2957
county, that sets forth the standards and criteria to govern the	2958
interaction and cooperation between persons appointed as police	2959
officers for the hospital under this division and law enforcement	2960
officers serving the agency represented by the chief of police or	2961
sheriff who signed the agreement in areas of their concurrent	2962
jurisdiction. The written agreement shall be signed by the	2963
appointing authority of the hospital and by the chief of police or	2964
sheriff. The standards and criteria may include, but are not	2965
limited to, provisions governing the reporting of offenses	2966
discovered by hospital police officers to the agency represented	2967
by the chief of police or sheriff, provisions governing	2968
investigatory responsibilities relative to offenses committed on	2969
hospital property, and provisions governing the processing and	2970
confinement of persons arrested for offenses committed on hospital	2971
property. The agreement required by this division is intended to	2972
apply in the aggregate to all persons appointed as police officers	2973
for the hospital under this division; a separate agreement is not	2974
required for each appointee on an individual basis.	2975

(c) The person has successfully completed a training program	2976
approved by the Ohio peace officer training commission and has	2977
been certified by the commission. A person appointed as a police	2978
officer under this division may attend a training program approved	2979
by the commission and be certified by the commission regardless of	2980
whether the appropriate chief of police or sheriff has granted the	2981
approval described in division (D)(1)(a) of this section and	2982
regardless of whether the hospital has entered into the written	2983
agreement described in division (D)(1)(b) of this section with the	2984
appropriate chief of police or sheriff.	2985

(2)(a) A person who is appointed as a police officer under	2986
division (D)(1) of this section is entitled, upon the grant of	2987
approval described in division (D)(1)(a) of this section and upon	2988
the person's and the hospital's compliance with the requirements	2989
of divisions (D)(1)(b) and (c) of this section, to act as a police	2990
officer for the hospital on the premises of the hospital and of	2991
its affiliates and subsidiaries that are within the territory of	2992
the municipal corporation served by the chief of police or the	2993
unincorporated area of the county served by the sheriff who signed	2994
the written agreement described in division (D)(1)(b) of this	2995
section, whichever is applicable, and anywhere else within the	2996
territory of that municipal corporation or within the	2997
unincorporated area of that county. The authority to act as a	2998
police officer as described in this division is granted only if	2999
the person, when engaging in that activity, is directly in the	3000
discharge of the person's duties as a police officer for the	3001
hospital. The authority to act as a police officer as described in	3002
this division shall be exercised in accordance with the standards	3003
and criteria set forth in the written agreement described in	3004
division (D)(1)(b) of this section.	3005

(b) Additionally, a person appointed as a police officer	3006
under division (D)(1) of this section is entitled, upon the grant	3007
of approval described in division (D)(1)(a) of this section and	3008
upon the person's and the hospital's compliance with the	3009
requirements of divisions (D)(1)(b) and (c) of this section, to	3010
act as a police officer elsewhere, within the territory of a	3011
municipal corporation or within the unincorporated area of a	3012
county, if the chief of police of that municipal corporation or	3013
the sheriff of that county, respectively, has granted approval for	3014
that activity to the hospital, police department, or security	3015
department served by the person as a police officer and if the	3016
person, when engaging in that activity, is directly in the	3017
discharge of the person's duties as a police officer for the	3018
hospital. The approval described in this division may be general	3019
in nature or may be limited in scope, duration, or applicability,	3020
as determined by the chief of police or sheriff granting the	3021
approval.	3022

(3) Police officers appointed under division (D)(1) of this	3023
section shall hold office for three years, unless, for good cause	3024
shown, their commission is revoked by the secretary of state or by	3025
the hospital, as provided by law. As used in divisions (D)(1) to	3026
(3) of this section, "public hospital agency" and "nonprofit	3027
hospital agency" have the same meanings as in section 140.01 of	3028
the Revised Code.	3029

(E)(1) Upon the application of any owner or operator of an	3030
amusement park that has an average yearly attendance in excess of	3031
six hundred thousand guests and that employs and maintains its own	3032
proprietary police department or security department and subject	3033
to section 4973.171 of the Revised Code, any judge of the	3034
municipal court or county court that has territorial jurisdiction	3035
over the amusement park may appoint and commission any persons	3036
that the owner or operator designates, or as many of those persons	3037
as the judge considers proper, to act as police officers for the	3038
amusement park. If the amusement park is located in more than one	3039
county, any judge of the municipal court or county court of any of	3040
those counties may make the appointments and commissions as	3041
described in this division. No person who is appointed as a police	3042
officer under this division shall engage in any duties or	3043
activities as a police officer for the amusement park or any	3044
affiliate or subsidiary of the owner or operator of the amusement	3045
park unless all of the following apply:	3046

(a) The appropriate chief or chiefs of police of the	3047
political subdivision or subdivisions in which the amusement park	3048
is located as specified in this division have granted approval to	3049
the owner or operator of the amusement park to permit persons	3050
appointed as police officers under this division to engage in	3051
those duties and activities. If the amusement park is located in a	3052
single municipal corporation or a single township, the chief of	3053
police of that municipal corporation or township is the	3054
appropriate chief of police for the grant of approval under this	3055
division. If the amusement park is located in two or more	3056
townships, two or more municipal corporations, or one or more	3057
townships and one or more municipal corporations, the chiefs of	3058
police of all of the affected townships and municipal corporations	3059
are the appropriate chiefs of police for the grant of approval	3060
under this division, and the approval must be jointly granted by	3061
all of those chiefs of police. The approval required by this	3062
division is general in nature and is intended to cover in the	3063
aggregate all persons appointed as police officers for the	3064
amusement park under this division. A separate approval is not	3065
required for each appointee on an individual basis.	3066

(b) Subsequent to the grant of approval described in division	3067
(E)(1)(a) of this section, the owner or operator has entered into	3068
a written agreement with the appropriate chief or chiefs of police	3069
of the political subdivision or subdivisions in which the	3070
amusement park is located as specified in this division and has	3071
provided the sheriff of the county in which the political	3072
subdivision or subdivisions are located with a copy of the	3073
agreement. If the amusement park is located in a single municipal	3074
corporation or a single township, the chief of police of that	3075
municipal corporation or township is the appropriate chief of	3076
police for entering into the written agreement under this	3077
division. If the amusement park is located in two or more	3078
townships, two or more municipal corporations, or one or more	3079
townships and one or more municipal corporations, the chiefs of	3080
police of all of the affected townships and municipal corporations	3081
are the appropriate chiefs of police for entering into the written	3082
agreement under this division, and the written agreement must be	3083
jointly entered into by all of those chiefs of police. The written	3084
agreement between the owner or operator and the chief or chiefs of	3085
police shall address the scope of activities, the duration of the	3086
agreement, and mutual aid arrangements and shall set forth the	3087
standards and criteria to govern the interaction and cooperation	3088
between persons appointed as police officers for the amusement	3089
park under this division and law enforcement officers serving the	3090
agency represented by the chief of police who signed the	3091
agreement. The written agreement shall be signed by the owner or	3092
operator and by the chief or chiefs of police who enter into it.	3093
The standards and criteria may include, but are not limited to,	3094
provisions governing the reporting of offenses discovered by the	3095
amusement park's police officers to the agency represented by the	3096
chief of police of the municipal corporation or township in which	3097
the offense occurred, provisions governing investigatory	3098
responsibilities relative to offenses committed on amusement park	3099
property, and provisions governing the processing and confinement	3100
of persons arrested for offenses committed on amusement park	3101
property. The agreement required by this division is intended to	3102
apply in the aggregate to all persons appointed as police officers	3103
for the amusement park under this division. A separate agreement	3104
is not required for each appointee on an individual basis.	3105

(c) The person has successfully completed a training program	3106
approved by the Ohio peace officer training commission and has	3107
been certified by the commission. A person appointed as a police	3108
officer under this division may attend a training program approved	3109
by the commission and be certified by the commission regardless of	3110
whether the appropriate chief of police has granted the approval	3111
described in division (E)(1)(a) of this section and regardless of	3112
whether the owner or operator of the amusement park has entered	3113
into the written agreement described in division (E)(1)(b) of this	3114
section with the appropriate chief of police.	3115

(2)(a) A person who is appointed as a police officer under	3116
division (E)(1) of this section is entitled, upon the grant of	3117
approval described in section (E)(1)(a) of this section and upon	3118
the person's and the owner or operator's compliance with the	3119
requirements of division (E)(1)(b) and (c) of this section, to act	3120
as a police officer for the amusement park and its affiliates and	3121
subsidiaries that are within the territory of the political	3122
subdivision or subdivisions served by the chief of police, or	3123
respective chiefs of police, who signed the written agreement	3124
described in division (E)(1)(b) of this section, and upon any	3125
contiguous real property of the amusement park that is covered by	3126
the written agreement, whether within or adjacent to the political	3127
subdivision or subdivisions. The authority to act as a police	3128
officer as described in this division is granted only if the	3129
person, when engaging in that activity, is directly in the	3130
discharge of the person's duties as a police officer for the	3131
amusement park. The authority to act as a police officer as	3132
described in this division shall be exercised in accordance with	3133
the standards and criteria set forth in the written agreement	3134
described in division (E)(1)(b) of this section.	3135

(b) In addition to the authority granted under division	3136
(E)(2)(a) of this section, a person appointed as a police officer	3137
under division (E)(1) of this section is entitled, upon the grant	3138
of approval described in division (E)(1)(a) of this section and	3139
upon the person's and the owner or operator's compliance with the	3140
requirements of divisions (E)(1)(b) and (c) of this section, to	3141
act as a police officer elsewhere within the territory of a	3142
municipal corporation or township if the chief of police of that	3143
municipal corporation or township has granted approval for that	3144
activity to the owner or operator served by the person as a police	3145
officer and if the person, when engaging in that activity, is	3146
directly in the discharge of the person's duties as a police	3147
officer for the amusement park. The approval described in this	3148
division may be general in nature or may be limited in scope,	3149
duration, or applicability, as determined by the chief of police	3150
granting the approval.	3151

(3) Police officers appointed under division (E)(1) of this	3152
section shall hold office for five years, unless, for good cause	3153
shown, their commission is revoked by the appointing judge or the	3154
judge's successor or by the owner or operator, as provided by law.	3155

(F) A fee of fifteen dollars for each commission applied for	3156
under this section shall be paid at the time the application is	3157
made, and this amount shall be returned if for any reason a	3158
commission is not issued.	3159

Section 2. That existing sections 109.71, 121.07, 1101.15,	3160
1109.15, 1109.43, 1111.02, 1111.04, 1111.06, 1111.07, 1111.08,	3161
1121.30, 1151.14, 1151.321, 1161.18, 1161.51, 1181.06, 1181.25,	3162
1315.21, 1315.99, 1733.25, 3953.30, 3953.32, 3953.33, 4719.01, and	3163
4973.17 and sections 1151.348, 1315.01, 1315.02, 1315.03, 1315.04,	3164
1315.05, 1315.06, 1315.07, 1315.08, 1315.09, 1315.10, 1315.11,	3165
1315,16, 1315.17, and 1315.18 of the Revised Code are hereby	3166
repealed.	3167

Section 3. That section 1125.28 of the Revised Code, as it	3168
results from S.B. 293 of the 121st General Assembly, is hereby	3169
repealed. The version of section 1125.28 of the Revised Code, as	3170
it results from H.B. 538 of the 121st General Assembly, is not	3171
affected by this repeal.	3172

Section 4. A license issued under sections 1315.01 to 1315.11	3173
of the Revised Code that is in effect immediately prior to the	3174
effective date of this act shall remain in force as a license	3175
under sections 1315.01 to 1315.18 of the Revised Code as enacted	3176
by this act until the license's expiration date. Thereafter, the	3177
licensee shall be treated as if it had applied for and had	3178
received a license under sections 1315.01 to 1315.18 of the	3179
Revised Code and shall be required to comply with sections 1315.01	3180
to 1315.18 of the Revised Code.	3181

Section 5. Section 1315.21 of the Revised Code is presented	3182
in this act as a composite of the section as amended by both Am.	3183
Sub. S.B. 293 and Am. Sub. H.B. 538 of the 121st General Assembly.	3184
Section 1315.99 of the Revised Code is presented in this act as a	3185
composite of the section as amended by both Am. Sub. H.B. 333 and	3186
Am. Sub. H.B. 538 of the 121st General Assembly. The General	3187
Assembly, applying the principle stated in division (B) of section	3188
1.52 of the Revised Code that amendments are to be harmonized if	3189
reasonably capable of simultaneous operation, finds that the	3190
composites are the resulting versions of the sections in effect	3191
prior to the effective date of the sections as presented in this	3192
act.	3193