As Passed by the House

126th General Assembly Regular Session 2005-2006

Sub. H. B. No. 81

Representatives Smith, G., Webster, McGregor, J., Patton, S., Ujvagi, Perry, Wolpert, Woodard, Peterson, Barrett, Strahorn, Kearns, Taylor, Allen, Law, Reidelbach, Stewart, D., Carano, Flowers, Beatty, Blessing, Brown, Buehrer, Chandler, Collier, DeBose, DeGeeter, Distel, Domenick, Evans, D., Hagan, Hughes, Key, Mason, Otterman, Patton, T., Schneider, Seitz, Willamowski, Williams, Yuko 

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A BILL

To amend sections 109.71, 109.73, 109.79, 119.01,

1

1121.05, 1155.18, 1163.22, 1317.01, 1733.04,

2

1733.16, 1733.22, 1733.24, 1733.25, 1733.251,

3

1733.29 to 1733.33, 1733.37, 1733.38, 1733.412,

4

1733.44, 2101.161, 2105.31, 2109.13, 2109.372,

5

2109.41, 4705.09, 4973.17, 4973.171, and 5725.01

6

of the Revised Code to make changes in the Credit

7

Union Law relating to fields of membership,

8

expansion of authorities, meetings of directors,

9

compensation of officers, fees and interest

10

chargeable on certain loans, record keeping,

11

eligible investments, liquidity fund requirements,

12

public records, amendments to articles, and use of

13

name; to authorize accounts to be held by credit

14

unions under laws relating to probate and

15

intestate succession; to authorize a credit union

16

insured by a credit union share guaranty

17

corporation to maintain interest-bearing trust

18

accounts on behalf of attorneys; to authorize and

19

specify qualifications for designees acting for or

20

on the premises of a financial institution,

21

including a credit union, as police officers; to

22

revise the conditions under which banks, savings

23

and loan associations, and credit unions may

24

achieve parity of authority with other financial

25

institutions; and to exempt credit union

26

transactions involving a credit card from the

27

Retail Installment Sales Act and the Consumer

28

Sales Practices Act.

29

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

Section 1. That sections 109.71, 109.73, 109.79, 119.01,	30
1121.05, 1155.18, 1163.22, 1317.01, 1733.04, 1733.16, 1733.22,	31
1733.24, 1733.25, 1733.251, 1733.29, 1733.30, 1733.31, 1733.32,	32
1733.33, 1733.37, 1733.38, 1733.412, 1733.44, 2101.161, 2105.31,	33
2109.13, 2109.372, 2109.41, 4705.09, 4973.17, 4973.171, and	34
5725.01 of the Revised Code be amended to read as follows:	35

Sec. 109.71.  There is hereby created in the office of the	36
attorney general the Ohio peace officer training commission. The	37
commission shall consist of nine members appointed by the governor	38
with the advice and consent of the senate and selected as follows:	39
one member representing the public; two members who are incumbent	40
sheriffs; two members who are incumbent chiefs of police; one	41
member from the bureau of criminal identification and	42
investigation; one member from the state highway patrol; one	43
member who is the special agent in charge of a field office of the	44
federal bureau of investigation in this state; and one member from	45
the department of education, trade and industrial education	46
services, law enforcement training.	47

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

48

(A) "Peace officer" means:

49

(1) A deputy sheriff, marshal, deputy marshal, member of the	50
organized police department of a township or municipal	51
corporation, member of a township police district or joint	52
township police district police force, member of a police force	53
employed by a metropolitan housing authority under division (D) of	54
section 3735.31 of the Revised Code, or township constable, who is	55
commissioned and employed as a peace officer by a political	56
subdivision of this state or by a metropolitan housing authority,	57
and whose primary duties are to preserve the peace, to protect	58
life and property, and to enforce the laws of this state,	59
ordinances of a municipal corporation, resolutions of a township,	60
or regulations of a board of county commissioners or board of	61
township trustees, or any of those laws, ordinances, resolutions,	62
or regulations;	63

(2) A police officer who is employed by a railroad company	64
and appointed and commissioned by the governorsecretary of state	65
pursuant to sections 4973.17 to 4973.22 of the Revised Code;	66

(3) Employees of the department of taxation engaged in the	67
enforcement of Chapter 5743. of the Revised Code and designated by	68
the tax commissioner for peace officer training for purposes of	69
the delegation of investigation powers under section 5743.45 of	70
the Revised Code;	71

(4) An undercover drug agent;

72

(5) Enforcement agents of the department of public safety	73
whom the director of public safety designates under section	74
5502.14 of the Revised Code;	75

(6) An employee of the department of natural resources who is	76
a natural resources law enforcement staff officer designated	77
pursuant to section 1501.013, a park officer designated pursuant	78
to section 1541.10, a forest officer designated pursuant to	79
section 1503.29, a preserve officer designated pursuant to section	80
1517.10, a wildlife officer designated pursuant to section	81
1531.13, or a state watercraft officer designated pursuant to	82
section 1547.521 of the Revised Code;	83

(7) An employee of a park district who is designated pursuant	84
to section 511.232 or 1545.13 of the Revised Code;	85

(8) An employee of a conservancy district who is designated	86
pursuant to section 6101.75 of the Revised Code;	87

(9) A police officer who is employed by a hospital that	88
employs and maintains its own proprietary police department or	89
security department, and who is appointed and commissioned by the	90
governorsecretary of state pursuant to sections 4973.17 to	91
4973.22 of the Revised Code;	92

(10) Veterans' homes police officers designated under section	93
5907.02 of the Revised Code;	94

(11) A police officer who is employed by a qualified	95
nonprofit corporation police department pursuant to section	96
1702.80 of the Revised Code;	97

(12) A state university law enforcement officer appointed	98
under section 3345.04 of the Revised Code or a person serving as a	99
state university law enforcement officer on a permanent basis on	100
June 19, 1978, who has been awarded a certificate by the executive	101
director of the Ohio peace officer training commission attesting	102
to the person's satisfactory completion of an approved state,	103
county, municipal, or department of natural resources peace	104
officer basic training program;	105

(13) A special police officer employed by the department of	106
mental health pursuant to section 5119.14 of the Revised Code or	107
the department of mental retardation and developmental	108
disabilities pursuant to section 5123.13 of the Revised Code;	109

(14) A member of a campus police department appointed under	110
section 1713.50 of the Revised Code;	111

(15) A member of a police force employed by a regional	112
transit authority under division (Y) of section 306.35 of the	113
Revised Code;	114

(16) Investigators appointed by the auditor of state pursuant	115
to section 117.091 of the Revised Code and engaged in the	116
enforcement of Chapter 117. of the Revised Code;	117

(17) A special police officer designated by the	118
superintendent of the state highway patrol pursuant to section	119
5503.09 of the Revised Code or a person who was serving as a	120
special police officer pursuant to that section on a permanent	121
basis on October 21, 1997, and who has been awarded a certificate	122
by the executive director of the Ohio peace officer training	123
commission attesting to the person's satisfactory completion of an	124
approved state, county, municipal, or department of natural	125
resources peace officer basic training program;	126

(18) A special police officer employed by a port authority	127
under section 4582.04 or 4582.28 of the Revised Code or a person	128
serving as a special police officer employed by a port authority	129
on a permanent basis on May 17, 2000, who has been awarded a	130
certificate by the executive director of the Ohio peace officer	131
training commission attesting to the person's satisfactory	132
completion of an approved state, county, municipal, or department	133
of natural resources peace officer basic training program;	134

(19) A special police officer employed by a municipal	135
corporation who has been awarded a certificate by the executive	136
director of the Ohio peace officer training commission for	137
satisfactory completion of an approved peace officer basic	138
training program and who is employed on a permanent basis on or	139
after March 19, 2003, at a municipal airport, or other municipal	140
air navigation facility, that has scheduled operations, as defined	141
in section 119.3 of Title 14 of the Code of Federal Regulations,	142
14 C.F.R. 119.3, as amended, and that is required to be under a	143
security program and is governed by aviation security rules of the	144
transportation security administration of the United States	145
department of transportation as provided in Parts 1542. and 1544.	146
of Title 49 of the Code of Federal Regulations, as amended;	147

(20) A police officer who is employed by an owner or operator	148
of an amusement park that has an average yearly attendance in	149
excess of six hundred thousand guests and that employs and	150
maintains its own proprietary police department or security	151
department, and who is appointed and commissioned by a judge of	152
the appropriate municipal court or county court pursuant to	153
section 4973.17 of the Revised Code;	154

(21) A police officer who is employed by a bank; savings and	155
loan association; savings bank; credit union; or association of	156
banks, savings and loan associations, savings banks, or credit	157
unions and appointed and commissioned by the secretary of state	158
pursuant to sections 4973.17 to 4973.22 of the Revised Code.	159

(B) "Undercover drug agent" has the same meaning as in	160
division (B)(2) of section 109.79 of the Revised Code.	161

(C) "Crisis intervention training" means training in the use	162
of interpersonal and communication skills to most effectively and	163
sensitively interview victims of rape.	164

(D) "Missing children" has the same meaning as in section	165
2901.30 of the Revised Code.	166

Sec. 109.73.  (A) The Ohio peace officer training commission	167
shall recommend rules to the attorney general with respect to all	168
of the following:	169

(1) The approval, or revocation of approval, of peace officer	170
training schools administered by the state, counties, municipal	171
corporations, public school districts, technical college	172
districts, and the department of natural resources;	173

(2) Minimum courses of study, attendance requirements, and	174
equipment and facilities to be required at approved state, county,	175
municipal, and department of natural resources peace officer	176
training schools;	177

(3) Minimum qualifications for instructors at approved state,	178
county, municipal, and department of natural resources peace	179
officer training schools;	180

(4) The requirements of minimum basic training that peace	181
officers appointed to probationary terms shall complete before	182
being eligible for permanent appointment, which requirements shall	183
include a minimum of fifteen hours of training in the handling of	184
the offense of domestic violence, other types of domestic	185
violence-related offenses and incidents, and protection orders and	186
consent agreements issued or approved under section 2919.26 or	187
3113.31 of the Revised Code,; a minimum of six hours of crisis	188
intervention training,; and a specified amount of training in the	189
handling of missing children and child abuse and neglect cases,;	190
and the time within which such basic training shall be completed	191
following such appointment to a probationary term;	192

(5) The requirements of minimum basic training that peace	193
officers not appointed for probationary terms but appointed on	194
other than a permanent basis shall complete in order to be	195
eligible for continued employment or permanent appointment, which	196
requirements shall include a minimum of fifteen hours of training	197
in the handling of the offense of domestic violence, other types	198
of domestic violence-related offenses and incidents, and	199
protection orders and consent agreements issued or approved under	200
section 2919.26 or 3113.31 of the Revised Code, a minimum of six	201
hours of crisis intervention training, and a specified amount of	202
training in the handling of missing children and child abuse and	203
neglect cases, and the time within which such basic training shall	204
be completed following such appointment on other than a permanent	205
basis;	206

(6) Categories or classifications of advanced in-service	207
training programs for peace officers, including programs in the	208
handling of the offense of domestic violence, other types of	209
domestic violence-related offenses and incidents, and protection	210
orders and consent agreements issued or approved under section	211
2919.26 or 3113.31 of the Revised Code, in crisis intervention,	212
and in the handling of missing children and child abuse and	213
neglect cases, and minimum courses of study and attendance	214
requirements with respect to such categories or classifications;	215

(7) Permitting persons, who are employed as members of a	216
campus police department appointed under section 1713.50 of the	217
Revised Code,; who are employed as police officers by a qualified	218
nonprofit corporation police department pursuant to section	219
1702.80 of the Revised Code,; who are appointed and commissioned	220
as bank, savings and loan association, savings bank, credit union,	221
or association of banks, savings and loan associations, savings	222
banks, or credit unions police officers, as railroad police	223
officers, or as hospital police officers pursuant to sections	224
4973.17 to 4973.22 of the Revised Code,; or who are appointed and	225
commissioned as amusement park police officers pursuant to section	226
4973.17 of the Revised Code, to attend approved peace officer	227
training schools, including the Ohio peace officer training	228
academy, and to receive certificates of satisfactory completion of	229
basic training programs, if the private college or university that	230
established the campus police department,; qualified nonprofit	231
corporation police department,; bank, savings and loan	232
association, savings bank, credit union, or association of banks,	233
savings and loan associations, savings banks, or credit unions;	234
railroad company,; hospital,; or amusement park sponsoring the	235
police officers pays the entire cost of the training and	236
certification and if trainee vacancies are available;	237

(8) Permitting undercover drug agents to attend approved	238
peace officer training schools, other than the Ohio peace officer	239
training academy, and to receive certificates of satisfactory	240
completion of basic training programs, if, for each undercover	241
drug agent, the county, township, or municipal corporation that	242
employs that undercover drug agent pays the entire cost of the	243
training and certification;	244

(9)(a) The requirements for basic training programs for	245
bailiffs and deputy bailiffs of courts of record of this state and	246
for criminal investigators employed by the state public defender	247
that those persons shall complete before they may carry a firearm	248
while on duty;	249

(b) The requirements for any training received by a bailiff	250
or deputy bailiff of a court of record of this state or by a	251
criminal investigator employed by the state public defender prior	252
to June 6, 1986, that is to be considered equivalent to the	253
training described in division (A)(9)(a) of this section.	254

(10) Establishing minimum qualifications and requirements for	255
certification for dogs utilized by law enforcement agencies;	256

(11) Establishing minimum requirements for certification of	257
persons who are employed as correction officers in a full-service	258
jail, five-day facility, or eight-hour holding facility or who	259
provide correction services in such a jail or facility;	260

(12) Establishing requirements for the training of agents of	261
a county humane society under section 1717.06 of the Revised Code,	262
including, without limitation, a requirement that the agents	263
receive instruction on traditional animal husbandry methods and	264
training techniques, including customary owner-performed	265
practices.	266

(B) The commission shall appoint an executive director, with	267
the approval of the attorney general, who shall hold office during	268
the pleasure of the commission. The executive director shall	269
perform such duties as may be assigned by the commission. The	270
executive director shall receive a salary fixed pursuant to	271
Chapter 124. of the Revised Code and reimbursement for expenses	272
within the amounts available by appropriation. The executive	273
director may appoint officers, employees, agents, and consultants	274
as the executive director considers necessary, prescribe their	275
duties, and provide for reimbursement of their expenses within the	276
amounts available for reimbursement by appropriation and with the	277
approval of the commission.	278

(C) The commission may do all of the following:

279

(1) Recommend studies, surveys, and reports to be made by the	280
executive director regarding the carrying out of the objectives	281
and purposes of sections 109.71 to 109.77 of the Revised Code;	282

(2) Visit and inspect any peace officer training school that	283
has been approved by the executive director or for which	284
application for approval has been made;	285

(3) Make recommendations, from time to time, to the executive	286
director, the attorney general, and the general assembly regarding	287
the carrying out of the purposes of sections 109.71 to 109.77 of	288
the Revised Code;	289

(4) Report to the attorney general from time to time, and to	290
the governor and the general assembly at least annually,	291
concerning the activities of the commission;	292

(5) Establish fees for the services the commission offers	293
under sections 109.71 to 109.79 of the Revised Code, including,	294
but not limited to, fees for training, certification, and testing;	295

(6) Perform such other acts as are necessary or appropriate	296
to carry out the powers and duties of the commission as set forth	297
in sections 109.71 to 109.77 of the Revised Code.	298

(D) In establishing the requirements, under division (A)(12)	299
of this section, the commission may consider any portions of the	300
curriculum for instruction on the topic of animal husbandry	301
practices, if any, of the Ohio state university college of	302
veterinary medicine. No person or entity that fails to provide	303
instruction on traditional animal husbandry methods and training	304
techniques, including customary owner-performed practices, shall	305
qualify to train a humane agent for appointment under section	306
1717.06 of the Revised Code.	307

Sec. 109.79.  (A) The Ohio peace officer training commission	308
shall establish and conduct a training school for law enforcement	309
officers of any political subdivision of the state or of the state	310
public defender's office. The school shall be known as the Ohio	311
peace officer training academy. No bailiff or deputy bailiff of a	312
court of record of this state and no criminal investigator	313
employed by the state public defender shall be permitted to attend	314
the academy for training unless the employing court of the bailiff	315
or deputy bailiff or the state public defender, whichever is	316
applicable, has authorized the bailiff, deputy bailiff, or	317
investigator to attend the academy.	318

The Ohio peace officer training commission shall develop the	319
training program, which shall include courses in both the civil	320
and criminal functions of law enforcement officers, a course in	321
crisis intervention with six or more hours of training, and	322
training in the handling of missing children and child abuse and	323
neglect cases, and shall establish rules governing qualifications	324
for admission to the academy. The commission may require	325
competitive examinations to determine fitness of prospective	326
trainees, so long as the examinations or other criteria for	327
admission to the academy are consistent with the provisions of	328
Chapter 124. of the Revised Code.	329

The Ohio peace officer training commission shall determine	330
tuition costs which shall be sufficient in the aggregate to pay	331
the costs of operating the academy. The costs of acquiring and	332
equipping the academy shall be paid from appropriations made by	333
the general assembly to the Ohio peace officer training commission	334
for that purpose, from gifts or grants received for that purpose,	335
or from fees for goods related to the academy.	336

The law enforcement officers, during the period of their	337
training, shall receive compensation as determined by the	338
political subdivision that sponsors them or, if the officer is a	339
criminal investigator employed by the state public defender, as	340
determined by the state public defender. The political subdivision	341
may pay the tuition costs of the law enforcement officers they	342
sponsor and the state public defender may pay the tuition costs of	343
criminal investigators of that office who attend the academy.	344

If trainee vacancies exist, the academy may train and issue	345
certificates of satisfactory completion to peace officers who are	346
employed by a campus police department pursuant to section 1713.50	347
of the Revised Code, by a qualified nonprofit corporation police	348
department pursuant to section 1702.80 of the Revised Code, or by	349
a railroad company, who are amusement park police officers	350
appointed and commissioned by a judge of the appropriate municipal	351
court or county court pursuant to section 4973.17 of the Revised	352
Code, or who are bank, savings and loan association, savings bank,	353
credit union, or association of banks, savings and loan	354
associations, savings banks, or credit unions, or hospital police	355
officers appointed and commissioned by the governorsecretary of	356
state pursuant to sections 4973.17 to 4973.22 of the Revised Code,	357
provided that no such officer shall be trained at the academy	358
unless the officer meets the qualifications established for	359
admission to the academy and the qualified nonprofit corporation	360
police department,; bank, savings and loan association, savings	361
bank, credit union, or association of banks, savings and loan	362
associations, savings banks, or credit unions; railroad company,;	363
hospital,; or amusement park or the private college or university	364
that established the campus police department prepays the entire	365
cost of the training. A qualified nonprofit corporation police	366
department,; bank, savings and loan association, savings bank,	367
credit union, or association of banks, savings and loan	368
associations, savings banks, or credit unions; railroad company,;	369
hospital,; or amusement park or a private college or university	370
that has established a campus police department is not entitled to	371
reimbursement from the state for any amount paid for the cost of	372
training the bank, savings and loan association, savings bank,	373
credit union, or association of banks, savings and loan	374
associations, savings banks, or credit unions peace officers; the	375
railroad company's peace officers; or the peace officers of the	376
qualified nonprofit corporation police department, campus police	377
department, hospital, or amusement park.	378

The academy shall permit investigators employed by the state	379
medical board to take selected courses that the board determines	380
are consistent with its responsibilities for initial and	381
continuing training of investigators as required under sections	382
4730.26 and 4731.05 of the Revised Code. The board shall pay the	383
entire cost of training that investigators receive at the academy.	384

(B) As used in this section:

385

(1) "Law enforcement officers" include any undercover drug	386
agent, any bailiff or deputy bailiff of a court of record, and any	387
criminal investigator who is employed by the state public	388
defender.	389

(2) "Undercover drug agent" means any person who:

390

(a) Is employed by a county, township, or municipal	391
corporation for the purposes set forth in division (B)(2)(b) of	392
this section but who is not an employee of a county sheriff's	393
department, of a township constable, or of the police department	394
of a municipal corporation or township;	395

(b) In the course of the person's employment by a county,	396
township, or municipal corporation, investigates and gathers	397
information pertaining to persons who are suspected of violating	398
Chapter 2925. or 3719. of the Revised Code, and generally does not	399
wear a uniform in the performance of the person's duties.	400

(3) "Crisis intervention training" has the same meaning as in	401
section 109.71 of the Revised Code.	402

(4) "Missing children" has the same meaning as in section	403
2901.30 of the Revised Code.	404

Sec. 119.01.  As used in sections 119.01 to 119.13 of the	405
Revised Code:	406

(A)(1) "Agency" means, except as limited by this division,	407
any official, board, or commission having authority to promulgate	408
rules or make adjudications in the civil service commission, the	409
division of liquor control, the department of taxation, the	410
industrial commission, the bureau of workers' compensation, the	411
functions of any administrative or executive officer, department,	412
division, bureau, board, or commission of the government of the	413
state specifically made subject to sections 119.01 to 119.13 of	414
the Revised Code, and the licensing functions of any	415
administrative or executive officer, department, division, bureau,	416
board, or commission of the government of the state having the	417
authority or responsibility of issuing, suspending, revoking, or	418
canceling licenses.	419

Except as otherwise provided in division (I) of this section,	420
sections 119.01 to 119.13 of the Revised Code do not apply to the	421
public utilities commission. Sections 119.01 to 119.13 of the	422
Revised Code do not apply to the utility radiological safety	423
board; to the controlling board; to actions of the superintendent	424
of financial institutions and the superintendent of insurance in	425
the taking possession of, and rehabilitation or liquidation of,	426
the business and property of banks, savings and loan associations,	427
savings banks, credit unions, insurance companies, associations,	428
reciprocal fraternal benefit societies, and bond investment	429
companies; to any action taken by the division of securities under	430
section 1707.201 of the Revised Code; or to any action that may be	431
taken by the superintendent of financial institutions under	432
section 1113.03, 1121.05, 1121.06, 1121.10, 1125.09, 1125.12,	433
1125.18, 1155.18, 1157.01, 1157.02, 1157.10, 1163.22, 1165.01,	434
1165.02, 1165.10, 1349.33, 1733.35, 1733.361, 1733.37, 1733.412,	435
or 1761.03 of the Revised Code.	436

Sections 119.01 to 119.13 of the Revised Code do not apply to	437
actions of the industrial commission or the bureau of workers'	438
compensation under sections 4123.01 to 4123.94 of the Revised Code	439
with respect to all matters of adjudication, and to the actions of	440
the industrial commission and bureau of workers' compensation	441
under division (D) of section 4121.32 and sections 4123.29,	442
4123.34, 4123.341, 4123.342, 4123.40, 4123.411, 4123.44, and	443
4123.442, and divisions (B), (C), and (E) of section 4131.14 of	444
the Revised Code.	445

(2) "Agency" also means any official or work unit having	446
authority to promulgate rules or make adjudications in the	447
department of job and family services, but only with respect to	448
both of the following:	449

(a) The adoption, amendment, or rescission of rules that	450
section 5101.09 of the Revised Code requires be adopted in	451
accordance with this chapter;	452

(b) The issuance, suspension, revocation, or cancellation of	453
licenses.	454

(B) "License" means any license, permit, certificate,	455
commission, or charter issued by any agency. "License" does not	456
include any arrangement whereby a person, institution, or entity	457
furnishes medicaid services under a provider agreement with the	458
department of job and family services pursuant to Title XIX of the	459
"Social Security Act," 49 Stat. 620 (1935), 42 U.S.C. 301, as	460
amended.	461

(C) "Rule" means any rule, regulation, or standard, having a	462
general and uniform operation, adopted, promulgated, and enforced	463
by any agency under the authority of the laws governing such	464
agency, and includes any appendix to a rule. "Rule" does not	465
include any internal management rule of an agency unless the	466
internal management rule affects private rights and does not	467
include any guideline adopted pursuant to section 3301.0714 of the	468
Revised Code.	469

(D) "Adjudication" means the determination by the highest or	470
ultimate authority of an agency of the rights, duties, privileges,	471
benefits, or legal relationships of a specified person, but does	472
not include the issuance of a license in response to an	473
application with respect to which no question is raised, nor other	474
acts of a ministerial nature.	475

(E) "Hearing" means a public hearing by any agency in	476
compliance with procedural safeguards afforded by sections 119.01	477
to 119.13 of the Revised Code.	478

(F) "Person" means a person, firm, corporation, association,	479
or partnership.	480

(G) "Party" means the person whose interests are the subject	481
of an adjudication by an agency.	482

(H) "Appeal" means the procedure by which a person, aggrieved	483
by a finding, decision, order, or adjudication of any agency,	484
invokes the jurisdiction of a court.	485

(I) "Rule-making agency" means any board, commission,	486
department, division, or bureau of the government of the state	487
that is required to file proposed rules, amendments, or	488
rescissions under division (D) of section 111.15 of the Revised	489
Code and any agency that is required to file proposed rules,	490
amendments, or rescissions under divisions (B) and (H) of section	491
119.03 of the Revised Code. "Rule-making agency" includes the	492
public utilities commission. "Rule-making agency" does not include	493
any state-supported college or university.	494

(J) "Substantive revision" means any addition to, elimination	495
from, or other change in a rule, an amendment of a rule, or a	496
rescission of a rule, whether of a substantive or procedural	497
nature, that changes any of the following:	498

(1) That which the rule, amendment, or rescission permits,	499
authorizes, regulates, requires, prohibits, penalizes, rewards, or	500
otherwise affects;	501

(2) The scope or application of the rule, amendment, or	502
rescission.	503

(K) "Internal management rule" means any rule, regulation, or	504
standard governing the day-to-day staff procedures and operations	505
within an agency.	506

Sec. 1121.05.  (A) Notwithstanding any provisions of the	507
Revised Code, except as provided in division (E) of this section,	508
the superintendent of financial institutions mayshall, by rule,	509
grant banks doing business under authority granted by the	510
superintendent any right, power, privilege, or benefit possessed,	511
by virtue of statute, rule, regulation, interpretation, or	512
judicial decision, by any of the following:	513

(1) Banks doing business under authority granted by the	514
comptroller of the currency or the bank regulatory authority of	515
any other state of the United States;	516

(2) Savings associations doing business under authority	517
granted by the superintendent of financial institutions, office of	518
thrift supervision, or the savings and loan association regulatory	519
authority of any other state of the United States;	520

(3) Savings banks doing business under authority granted by	521
the superintendent of financial institutions or the savings bank	522
regulatory authority of any other state of the United States;	523

(4) Credit unions doing business under authority granted by	524
the superintendent of financial institutions, the national credit	525
union administration, or the credit union regulatory authority of	526
any other state of the United States;	527

(5) Any other banks, savings associations, or credit unions	528
with a principal place of business in the United States doing	529
business under authority granted under laws of the United States;	530

(6) Any other persons having an office or other place of	531
business in this state and engaging in the business of lending	532
money, or buying or selling bullion, bills of exchange, notes,	533
bonds, stocks, or other evidences of indebtedness with a view to	534
profit;	535

(7) Small business investment companies licensed under the	536
"Small Business Investment Company Act of 1958," 72 Stat. 689, 15	537
U.S.C. 661, as amended;	538

(8) Persons chartered under the "Farm Credit Act of 1933," 48	539
Stat. 257, 12 U.S.C. 1131(d), as amended.	540

(B) The superintendent shall adopt rules authorized by	541
division (A) of this section in accordance with section 111.15 of	542
the Revised Code. Chapter 119 of the Revised Code does not apply	543
to rules adopted under the authority of this section.	544

(C) A rule adopted by the superintendent pursuant to the	545
authority of this section becomes effective on the later of the	546
following dates:	547

(1) The date the superintendent issues the rule;

548

(2) The date the statute, rule, regulation, interpretation,	549
or judicial decision the superintendent's rule is based on becomes	550
effective.	551

(D) The superintendent may, upon thirty days' written notice,	552
revoke any rule adopted under the authority of this section. A	553
rule adopted under the authority of this section, and not revoked	554
by the superintendent or enacted into law or adopted in accordance	555
with Chapter 119. of the Revised Code, lapses and has no further	556
force and effect thirty months after its effective date; however	557
the superintendent may adopt this rule under section 111.15 of the	558
Revised Code pursuant to the section for an additional	559
thirty-month period.	560

(E) The superintendent shall not adopt any rule dealing with	561
interest rates charged under the authority of this section.	562

Sec. 1155.18.  Notwithstanding any provision of the Revised	563
Code, if federal savings and loan associations organized under the	564
"Home Owners Loan Act of 1933," 48 Stat. 128,12 U.S.C. 1461, and	565
amendments thereto, the home offices of which are located in this	566
state, shall possess a right, power, privilege, or benefit by	567
virtue of statute, rule, regulation, judicial decision, or other	568
administrative process or will possess such right, power,	569
privilege, or benefit by virtue of a statute, rule, regulation, or	570
other administrative process issued but not effective, which	571
right, power, privilege, or benefit is not possessed by a building	572
and loan association organized under the laws of this state, the	573
superintendent of building and loan associations mayshall, by	574
rule, authorize building and loan associations organized under the	575
laws of this state to exercise such right, power, privilege, or	576
benefit. A rule so adopted and promulgated by the superintendent	577
shall become effective on the date of its issuance but if such	578
rule is issued by the superintendent in anticipation of a federal	579
rule or regulation which has been issued but has not then become	580
effective, the effective date of the superintendent's rule shall	581
be the later date on which the federal rule or regulation becomes	582
effective, provided that if such rule adopted and promulgated by	583
the superintendent is not enacted into law or adopted in	584
accordance with Chapter 119. of the Revised Code within thirty	585
months from the date such rule is issued by the superintendent,	586
such rule shall thereupon no longer be of any force or effect,	587
however, the superintendent may adopt the rule under section	588
111.15 of the Revised Code pursuant to this section for an	589
additional thirty-month period. The superintendent of building and	590
loan associations may upon thirty days' written notice to domestic	591
building and loan associations revoke any rule issued by virtue of	592
the authority of this section.	593

Sec. 1163.22.  Notwithstanding any provision in the Revised	594
Code, if any bank or savings and loan association, the principal	595
place of business of which is located in this state, possesses a	596
right, power, privilege, or benefit by virtue of statute, rule, or	597
judicial decision or will possess that right, power, privilege, or	598
benefit by virtue of a rule or regulation issued but not	599
effective, which right, power, privilege, or benefit is not	600
possessed by a savings bank organized under the laws of this	601
state, the superintendent of savings banks may, shall, by rule,	602
authorize savings banks organized under the laws of this state to	603
exercise that right, power, privilege, or benefit. A rule so	604
adopted and promulgated by the superintendent becomes effective on	605
the date of its issuance but if the rule is issued by the	606
superintendent in anticipation of a federal rule or regulation	607
that has been issued but has not then become effective, the	608
effective date of the superintendent's rule is the later date on	609
which the federal rule or regulation becomes effective, provided	610
that if the rule adopted and promulgated by the superintendent is	611
not enacted into law or adopted in accordance with Chapter 119. of	612
the Revised Code within thirty months from the date the rule is	613
issued by the superintendent, the rule shall thereupon no longer	614
be of any force or effect, however, the superintendent may adopt	615
the rule under section 111.15 of the Revised Code pursuant to this	616
section for an additional thirty-month period. The superintendent	617
may upon thirty days' written notice revoke any rule issued by	618
virtue of the authority of this section.	619

Sec. 1317.01.  As used in this chapter:

620

(A) "Retail installment sale" includes every retail	621
installment contract to sell specific goods, every consumer	622
transaction in which the cash price may be paid in installments	623
over a period of time, and every retail sale of specific goods to	624
any person in which the cash price may be paid in installments	625
over a period of time. "Retail installment sale" does not include	626
a lease-purchase agreement as defined in division (F) of section	627
1351.01 of the Revised Code nor a layaway arrangement as defined	628
in division (S) of this section.	629

(B) "Person" includes an individual, corporation, trust,	630
partnership of two or more persons having a joint or common	631
interest, and any other association.	632

(C)(1) "Goods" means all things, including specially	633
manufactured goods but not including the money in which the price	634
is to be paid or things in action, that satisfy both of the	635
following:	636

(a) They are movable at the time of identification for sale	637
or identification to the contract for sale;	638

(b) They are purchased primarily for personal, family, or	639
household purposes.	640

(2) Nothing in division (C)(1) of this section shall be	641
construed to exempt transactions involving items purchased for	642
other than primarily personal, family, or household purposes from	643
sections 2905.21 to 2905.24 of the Revised Code.	644

(D) "Specific goods" means goods, including related services,	645
identified and agreed upon at the time a contract to sell or a	646
sale is made.	647

(E) "Retail" means to dispose of specific goods to, or to	648
acquire specific goods by, a person for use other than for	649
purposes of resale.	650

(F) "Buyer" means a person whothat buys or agrees to buy	651
goods or any legal successor in interest of such person.	652

(G) "Retail buyer" means a buyer whothat is a party to a	653
retail installment sale, or any legal successor in interest of	654
such person.	655

(H) "Seller" means a person who sells or agrees to sell	656
goods.	657

(I) "Retail seller" means a seller whothat is a party to a	658
retail installment sale.	659

(J) "Holder of the retail installment contract" means any	660
person to whomwhich the money owed by the retail buyer on the	661
retail installment contract has been paid.	662

(K) "Cash price" means the price measured in dollars, agreed	663
upon in good faith by the parties as the price at which the	664
specific goods which are the subject matter of any retail	665
installment sale would be sold if such sale were a sale for cash	666
to be paid upon delivery instead of a retail installment sale.	667
"Cash price" may include sales taxes.	668

(L) "Retail installment contract" means any written	669
instrument that is executed in connection with any retail	670
installment sale and is required by section 1317.02 of the Revised	671
Code or is authorized by section 1317.03 of the Revised Code, and	672
includes all such instruments executed in connection with any	673
retail installment sale.	674

(M) "Contract for sale" and "sale" have the same meanings as	675
in section 1302.01 of the Revised Code; and "security agreement"	676
has the same meaning as in section 1309.102 of the Revised Code.	677

(N) "Finance charge" means the amount that the retail buyer	678
pays or contracts to pay the retail seller for the privilege of	679
paying the principal balance in installments over a period of	680
time. Any advancement in the cash price ordinarily charged by the	681
retail seller is a finance charge when a retail installment sale	682
is made.	683

(O) "Service charge" means the amount that the retail buyer	684
pays or contracts to pay the retail seller for the privilege of	685
paying the principal balance in installments over a period of time	686
in addition to the finance charge for the same privilege.	687

(P) "Consumer transaction" means a sale, lease, assignment,	688
or other transfer of an item of goods, or a service, except those	689
transactions between persons, defined in sections 4905.03 and	690
5725.01 of the Revised Code, and their customers, or between	691
attorneys or physicians and their clients or patients, to an	692
individual for purposes that are primarily personal, family, or	693
household. For the purposes of this chapter only, a "consumer	694
transaction" does not include a lease-purchase agreement.	695

(Q) "Purchase money loan" means a cash advance that is	696
received by a consumer from a creditor in return for a finance	697
charge within the meaning of the "Truth in Lending Act," 82 Stat.	698
146 (1968), 15 U.S.C.A. 1601 and regulation Z thereunder, which is	699
applied in whole or substantial part to a consumer transaction	700
with a seller, whothat either:	701

(1) Cooperates with the creditor to channel consumers to the	702
creditor on a continuing basis;	703

(2) Is affiliated with the creditor by common control,	704
contract, or business arrangement.	705

If a credit card issued by a bank or a, savings and loan	706
association, savings bank, or credit union is used by a consumer	707
in a particular consumer transaction, the bank or, savings and	708
loan association, savings bank, or credit union is not a creditor,	709
within the meaning of this division, with respect to the	710
particular consumer transaction.	711

(R) "Dealer" and "motor vehicle" have the same meanings as in	712
section 4501.01 of the Revised Code.	713

(S)(1) "Layaway arrangement" means a contract for sale at	714
retail, other than one involving the sale of a motor vehicle by a	715
dealer, in which the buyer agrees to buy and the seller agrees to	716
sell specific goods at a future time and both of the following	717
apply:	718

(a) Until such future time, the seller agrees to retain	719
possession of but remove the specific goods from its retail	720
inventory and not offer the specific goods for sale to other	721
persons or promises the availability thereof at the agreed time of	722
delivery; and	723

(b) The buyer agrees to pay the seller the layaway price, in	724
whole or in part, by deposit, down payment, part payment,	725
periodically or in installments or otherwise prior to delivery of	726
the specific goods.	727

(2) A layaway arrangement does not include interest or	728
equivalent financing charges. If a contract of sale is a layaway	729
arrangement, it is not a retail installment sale, and it is not a	730
contract subject to Chapter 1309. or sections 1351.02 to 1351.09	731
or 1317.02 to 1317.16 of the Revised Code.	732

(T) "Layaway price" means the price at which the specific	733
goods whichthat are the subject of a layaway arrangement are	734
offered for sale at retail by the seller if such sale were a sale	735
for cash to be paid in full upon delivery on the date the layaway	736
arrangement was entered into instead of pursuant to a layaway	737
arrangement. Layaway price may include sales taxes.	738

Sec. 1733.04.  (A) In addition to the authority conferred by	739
section 1701.13 of the Revised Code, but subject to any	740
limitations contained in sections 1733.01 to 1733.45 of the	741
Revised Code, and its articles and regulations, a credit union may	742
do any of the following:	743

(1) Make loans as provided in section 1733.25 of the Revised	744
Code;	745

(2) Invest its money as provided in section 1733.30 of the	746
Revised Code;	747

(3) If authorized by the code of regulations, rebate to the	748
borrowing members a portion of the member's interest paid to the	749
credit union;	750

(4) If authorized by the regulations, charge a membership or	751
entrance fee not to exceed one dollar per member;	752

(5) Purchase group savings life insurance and group credit	753
life insurance;	754

(6) Make reasonable contributions to any nonprofit civic,	755
charitable, or service organizations;	756

(7) Act as trustee or custodian, for which reasonable	757
compensation may be received, under any written trust instrument	758
or custodial agreement created or organized in the United States	759
and forming part of a tax-advantaged savings plan that qualifies	760
for specific tax treatment under sections 223, 401(d), 408, 408A,	761
and 530 of the Internal Revenue Code, 26 U.S.C. 223, 401(d), 408,	762
408A, and 530, as amended, for its members or groups of its	763
members, provided that the funds of such plans are invested in	764
share accounts or share certificate accounts of the credit union.	765
These services include, but are not limited to, acting as a	766
trustee or custodian for member retirement, education, or health	767
savings accounts.	768

(B) The authority of a credit union shall be subject to the	769
following restrictions:	770

(1) A credit union may not borrow money in excess of	771
twenty-five per cent of its shares and undivided earnings, without	772
prior specific authorization by the superintendent of credit	773
unions.	774

(2) A credit union may not pay a commission or other	775
compensation to any person for securing members or for the sale of	776
its shares, except that reasonable incentives may be made	777
available directly to members or potential members to promote	778
thrift.	779

(3) A credit union, subject to the approval of the	780
superintendent, may have service facilities other than its home	781
office.	782

(4) No realReal estate shallmay be acquired by lease,	783
purchase, or otherwise excepting as necessary and to the extent	784
required for use of the credit union presently and in the future	785
operation of its office or headquarters, and in case of a purchase	786
of real estate, written approval of the superintendent must first	787
be obtainednotified in writing prior to the purchase of the real	788
estate. The superintendent shall notify the credit union not more	789
than thirty days after receipt of the notification to purchase the	790
real estate if the purchase is denied, approved, or modified. If	791
the superintendent does not respond within thirty days after	792
receipt of the notification to purchase the real estate, it shall	793
be deemed approved. Nothing herein contained shall be deemed to	794
prohibit a credit union from taking title to real estate in	795
connection with a default in the payment of a loan, provided that	796
title to such real estate shall not be held by the credit union	797
for more than two years without the prior written approval of the	798
superintendent. A credit union also may lease space in any real	799
estate it acquires in accordance with rules adopted by the	800
superintendent.	801

(C)(1) As used in division (C) of this section:

802

(a) "School" means an elementary or secondary school.

803

(b) "Student" means a child enrolled in a school.

804

(c) "Student branch" means the designation provided to the	805
credit union for the in-school services and financial education	806
offered to students.	807

(2) A credit union, upon agreement with a school board, in	808
the case of a public school, or the governing authority, in the	809
case of a nonpublic school, and with the permission of the	810
superintendent, may open and maintain a student branch.	811

(3) Notwithstanding any other provision of this section, any	812
student enrolled in the school maintaining a student branch who is	813
not otherwise qualified for membership in the credit union	814
maintaining the student branch is qualified to be a member of that	815
student branch.	816

(4) The student's membership in the student branch expires	817
upon the student's graduation from secondary school.	818

(5) The student branch is for the express use of students and	819
may not be used by faculty, staff, or lineal ancestors or	820
descendents of students.	821

(6) Faculty, staff, or lineal ancestors or descendents of	822
students are not eligible for membership in the credit union	823
maintaining the student branch unless otherwise qualified by this	824
section to be members.	825

(7) The superintendent may adopt rules appropriate to the	826
formation and operation of student branches.	827

(D) A credit union may guarantee the signature of a member in	828
connection with a transaction involving tangible or intangible	829
property in which a member has or seeks to acquire an interest.	830

Sec. 1733.16.  Unless otherwise provided in the articles,	831
regulations, or bylaws, and subject to the exceptions applicable	832
during an emergency, as that term is defined in section 1733.01 of	833
the Revised Code:	834

(A) Meetings of the directors may be called by the chairman	835
of the boardchairperson, thevice-chairperson, president, or any	836
vice-president,of the board or any two directors.	837

(B) Meetings of the directors may be held within or without	838
the state. Unless the articles or regulations prohibit	839
participation by directors at a meeting by means of communication	840
equipment, meetings of the directors may be held through any	841
communication equipment if all the persons participating can hear	842
each other, and participation in the meeting pursuant to this	843
division constitutes presence at the meeting.	844

(C) Notice of the time and place, if any, and time of each	845
meeting of the directors shall be given to each director at the	846
time and in the mannereither by personal delivery or by mail,	847
telegram, cablegram, overnight delivery service, or any other	848
means of communication authorized by the director at least two	849
days before the meeting, unless otherwise specified in the	850
regulations or bylaws. The notice described in this division need	851
not specify the purpose of the meeting.	852

(D) Notice of adjournment of a meeting need not be given, if	853
the time and place to which it is adjourned are fixed and	854
announced at the meeting.	855

Sec. 1733.22. (A) No officer, director, or employee of any	856
credit union shall receive any commission, salary, or other	857
emolument for services arising out of histhe officer's,	858
director's, or employee's association with the credit union except	859
per diem, wages, or salary which hethe officer, director, or	860
employee receives, subject to rules adopted under section 1733.411	861
of the Revised Code, as compensation for his services to the	862
credit union.	863

(B) No director or member of any committee shall receive any	864
compensation for his services as such, but, unless otherwise	865
provided in the articles or regulations, shall beexcept that, a	866
credit union may provide, at its expense, a director or committee	867
member reasonable health, accident, and related types of personal	868
insurance protection. A director or committee member is entitled,	869
subject to rules adopted under section 1733.411 of the Revised	870
Code and when so authorized by the board of directors, to	871
reimbursement for histhe director's or committee member's	872
expenses incurred in connection with the business of the credit	873
union.	874

Sec. 1733.24.  (A) A credit union is authorized to receive	875
funds for deposit in share accounts, share draft accounts, and	876
share certificates from its members, from other credit unions, and	877
from an officer, employee, or agent of the federal, state, or	878
local governments, or political subdivisions of the state, in	879
accordance with such terms, rates, and conditions as may be	880
established by its board of directors.	881

(B) The shares and share accounts of the credit union may be	882
of one or more classes, as designated by the board of directors,	883
subject to approval of the superintendent of credit unions based	884
on rules that shall assure equitable distribution of dividends	885
among classes, considering costs and advantages of each class to	886
the members of the credit union, including without limitation	887
special services rendered, length of ownership, minimum	888
investment, conditions of repurchase, and other appropriate	889
standards or combinations thereof. In the event the articles of	890
incorporation of the credit union indicate the authorized number	891
of shares to be unlimited, the designation of classification of	892
shares and share acountsaccounts of the credit union may be	893
effected by the board of directors, subject to the approval of the	894
superintendent, and does not require amendment of the articles of	895
incorporation. All shares of the credit union shall have a par	896
value per share as set by the board of directors. Redemptions and	897
liquidating dividends shall be prorated to each member on the	898
basis of the price paid the credit union for such share,	899
irrespective of the class of such shares.	900

(C)(1) Each credit union shall have one clsssclass of shares	901
designated as "membership share." The membership shares, or if a	902
credit union has but one class of shares, then all of the shares	903
of the credit union, shall have a par value as set by the board of	904
directors.	905

(2) Two or more persons that are eligible for membership that	906
have jointly subscribed for one or more shares under a joint	907
account each may be admitted to membership.	908

(D) A credit union need not issue certificates for any or all	909
of its classes of shares but irrespective of whether certificates	910
are issued, a registry of shares must be kept, including all of	911
the transactions of saidthe credit union pertaining to such	912
shares.	913

(E) A credit union is authorized to maintain share draft	914
accounts in accordance with rules prescribed by the	915
superintendent. The credit union may pay dividends on share draft	916
accounts, may pay dividends at different rates on different types	917
of share draft accounts, and may permit the owners of such share	918
draft accounts to make withdrawals by negotiable or transferable	919
instruments or other orders for the purpose of making transfers to	920
third parties.	921

(F) Unless otherwise provided by written agreement of the	922
parties, the rights, responsibilities, and liabilities attaching	923
to a share draft withdrawn from, transferred to, or otherwise	924
handled by a credit union are defined in and governed by Chapters	925
1303. and 1304. of the Revised Code, as if the credit union were a	926
bank.	927

(G) Unless otherwise provided in the articles or regulations,	928
a member may designate any person or persons to own or hold	929
shares, or share accounts with himthe member in joint tenancy	930
with right of survivorship and not as tenants in common.	931

(H) Shares or share accounts may be issued in the name of a	932
custodian under the Ohio transfers to minors act or, by a member	933
in trust for a beneficiary, by a fiduciary or custodian in trust	934
for a member beneficiary, or by a fiduciary or custodian in trust	935
upon the death of a member. Redemption of such shares or payment	936
of such share accounts to sucha member shall, to the extent of	937
suchthe payment, dischargedischarges the liability of the credit	938
union to the member and the beneficiary;, and the credit union	939
shall be under no obligation to see to the application of suchthe	940
payment. Unless prior to the death of sucha member, he shall have	941
the member has notified the credit union in writing in a form	942
approved by the credit union of a different beneficiary to receive	943
the proceeds of such shares or share accounts, then suchthe	944
proceeds shall be paid to the beneficiary or to histhe	945
beneficiary's parent or legal representative. Any payment made	946
pursuant to written instructions of the member or pursuant to the	947
provisions herein contained shall be a valid and sufficient	948
release and discharge of the credit union in connection with any	949
such share or share accounts.	950

(I)(1) Except as otherwise provided in the articles or	951
regulations, and subject to the provisions thereof, a minor may	952
purchase shares or share accounts, and except for qualification as	953
a voting member, the credit union may deal with such minor with	954
respect to shares or share accounts owned by himthe minor as if	955
hethe minor were of legal age.	956

(2) If shares are issued in the name of a minor, redemption	957
of any part or all of the shares or withdrawal of funds by payment	958
to the minor of the shares or funds and any declared dividends or	959
interest releases the credit union from all obligation to the	960
minor as to the shares reduced or funds withdrawn.	961

(3) If shares are issued in the name of a minor, the minor	962
shall be assumed to have reached the age of majority and have	963
contractual capacity.	964

(J) The regulations may require advance written notice of a	965
member's intention to withdraw histhe member's shares. Such	966
advance notice shall not exceed sixty days.	967

Sec. 1733.25.  (A) A credit union may make loans or other	968
extensions of credit to members for provident and productive	969
purposes as authorized by law, including rules adopted by the	970
superintendent of credit unions; the articles,; and the	971
regulations,; and subject to policies adopted by the credit	972
committee and approved by the board of directors.	973

(B) Upon the approval of the board of directors, a credit	974
union may make loans or other extensions of credit to other credit	975
unions, provided that loans or other extensions of credit made to	976
other credit unions need not have the approval of the board of	977
directors on a per case basis. The total of all such loans or	978
extensions of credit, including the aggregate of all money paid	979
into any trust established by one or more credit unions for the	980
purpose of making loans or other extensions of credit to other	981
credit unions, shall not exceed twenty-five per cent of the shares	982
and undivided earnings of the lending credit union, except that	983
this percentage limitation does not apply to corporate credit	984
unions.	985

(C) The interest on any loan made by a credit union shall not	986
exceed one and one-half per cent per month on unpaid balances.	987
Such interest may accrue and be chargeable upon a monthly basis,	988
and may be computed upon the unpaid balance of the loan as of the	989
end of the previous calendar month.	990

Such interest may be accrued and charged by any technique	991
approved by the superintendent of credit unions so long as the	992
effective interest rate on any loan does not exceed the amount	993
permitted to be charged by the computation authorized in this	994
division.	995

(D) A credit union may accept security in such form and under	996
such rules as shall be set forth in the articles, the regulations,	997
or established by the credit committee and approved by the board	998
of directors.	999

(E) The total loans to association members shall not exceed	1000
ten per cent of the shares and undivided earnings or the total	1001
value of shares pledged by association members as security for	1002
loans, whichever is greater(1) The credit union shall have a lien	1003
on the membership share, shares, deposits, and accumulated	1004
dividends and interest of a member in an individual, joint, trust,	1005
or payable on death account for any obligation owed to the credit	1006
union by that member or for any loan co-signed or guaranteed by	1007
the member or account holder; provided, however, that a credit	1008
union shall not have a lien upon the funds in an individual	1009
retirement account or an account established pursuant to the	1010
Internal Revenue Code of the United States.	1011

(2) A credit union may refuse to allow withdrawals from any	1012
share or deposit account by a member while the member has any	1013
outstanding obligation to the credit union.	1014

(F) Notwithstanding any limitation contained in law, a credit	1015
union may enter into a loan agreement with a member in accordance	1016
with all of the following:	1017

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

1018

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

1019

(3) The credit union may charge a fee in addition to any	1020
interest authorized by law in connection with the loan, which fee	1021
is not to be included in the computation of interest for any	1022
provision of the Revised Code, including division (C) of this	1023
section, that prescribes, regulates, or limits interest charged,	1024
collected, or received in connection with a transaction.	1025

(4) The total interest, fees, and other costs of the loan	1026
does not exceed ten per cent of the principal amount.	1027

(5) A member shall not have more than one loan under division	1028
(F) of this section outstanding at any one time with the credit	1029
union.	1030

(6) The loan is not being made to a member for purposes of	1031
retiring an existing loan between the credit union and that	1032
member, which existing loan was made pursuant to division (F) of	1033
this section.	1034

Sec. 1733.251. (A) As an alternative to the interest	1035
permitted in division (C) of section 1733.25 of the Revised Code,	1036
a credit union may contract for and receive interest at any rate	1037
or rates agreed upon or consented to by the parties to the loan	1038
contract, but not exceeding an annual percentage rate of	1039
twenty-five per cent.	1040

(B) The computation of the loan or extension of credit	1041
balance on which interest is assessed and the method of	1042
compounding interest on the balance pursuant to this section shall	1043
be as agreed upon by the credit union and the member.	1044

Sec. 1733.29.  (A) A credit union shall keep a permanent	1045
record including:	1046

(1) The original articles and regulations and amendments	1047
thereto and any amended articles or regulations and amendments	1048
thereto, all bearing the approval of the superintendent of credit	1049
unions, and the articles shall bear the certification of the	1050
secretary of state;	1051

(2) The minutes of the incorporators, members, and board of	1052
directors.	1053

(B) A credit union shall keep for a period of not less than	1054
six years the minutes of all committees of the board.	1055

(C) A credit union shall keep and maintain such financial	1056
records as the superintendent shall stipulate in rules issued by	1057
himthe superintendent, which shall also include the minimum	1058
length of time such records must be retained.	1059

(D) A credit union shall maintain an alphabetical listing or	1060
classified listing of the addresses of members of the credit	1061
union.	1062

(E) A credit union shall keep suchany other records of its	1063
business and transactions and maintain the authorized processes	1064
for recording or storing documents or instruments, as may be	1065
required by rules promulgated by the superintendent.	1066

(F) A credit union may keep documents in electronic form if,	1067
in the regular course of business, a credit union possesses,	1068
records, or generates any document, representation, image,	1069
reproduction, or combination thereof, of any agreement,	1070
transaction, act, occurrence, or event, then the recording,	1071
comprising, or reproduction shall have the same force and effect	1072
as one comprised, recorded, or created on paper or other tangible	1073
form by writing, typing, printing, or similar means.	1074

(G)(1) A credit union may make use of electronic signatures	1075
in any communication, acknowledgment, agreement, or contract	1076
between a credit union and its member or any other person, in	1077
which a signature is required or used.	1078

(2)(a) Any party to the communications, acknowledgment,	1079
agreement, or contract may affix a signature by use of a digital	1080
signature.	1081

(b) The digital signature, when lawfully used by the person	1082
whose signature it purports to be, shall have the same force and	1083
effect as the use of a manual signature if it is unique to the	1084
person using it, is capable of verification, is under the sole	1085
control of the person using it, and is linked to data in such a	1086
manner that if the data are changed, the digital signature is	1087
invalidated.	1088

(c) Nothing in this section requires any credit union to use	1089
or permit the use of a digital signature.	1090

(d) As used in division (G)(2) of this section, "digital	1091
signature" means an encrypted electronic identifier, created by	1092
computer, intended by the party using it to have the same force	1093
and effect as the use of a manual signature.	1094

(H) Recordings, copies, photographic images, or stored	1095
representations of original documents, papers, or other	1096
instruments or records made in accordance with this section, or	1097
reproductions of original documents, papers, or other instruments	1098
or records produced from recordings, copies, photographic images,	1099
or stored representations made in accordance with this section,	1100
when properly identified by the officer by whom or under whose	1101
supervision they were made or who has custody of them, have the	1102
same effect at law as the original records or records made by any	1103
other legally authorized means. They may be offered in the same	1104
manner and shall be received in evidence in any court where the	1105
original records, or records made by other legally authorized	1106
means, could have been introduced and received. Certified or	1107
authenticated duplicates of recordings, copies, photographic	1108
images, or stored representations of original documents, papers,	1109
or other instruments or records made in accordance with this	1110
section, or of reproductions of original documents, papers, or	1111
other instruments or records produced from recordings, copies,	1112
photographic images, or stored representations made in accordance	1113
with this section, shall be admitted in evidence in the same	1114
manner as the original documents, papers, or other instruments or	1115
records.	1116

Sec. 1733.30.  (A) A credit union may make any investment of	1117
any funds not required for the purpose of loans, in state or	1118
national banks;or state or federally chartered savings and loan	1119
associations or, savings banks, or credit unions, doing business	1120
in this state; in accounts, deposits, or shares of federally	1121
insured savings and loan associations or savings banks or insured	1122
credit unions, doing business outside this state; in deposits or	1123
accounts of federally insured banks, trust companies, and mutual	1124
savings banks or insured credit unions, doing business outside	1125
this state; in the shares of a corporate credit union subject to	1126
the regulations of that corporate credit union; in shares, stocks,	1127
or obligations of any other organization providing services that	1128
are associated with the routine operations of credit unions; or in	1129
United States government securities or municipal bonds issued by	1130
municipalities of this state; and, with the approval of the	1131
superintendent of credit unions, in securities other than those	1132
specified in this division. All investments under this division	1133
shall be made in United States dollars.	1134

(B) In accordance with rules adopted by, and subject to the	1135
approval of, the superintendent, notes or loans made by or to	1136
individual members of a credit union may be purchased by another	1137
credit union at such prices as may be agreed upon between the	1138
credit unions.	1139

(C) A corporate credit union may make investments provided	1140
the investments are in accordance with rules adopted by the	1141
superintendent, are consistent with the safety and soundness of	1142
the credit union, and are made with due regard to the investment	1143
requirements established by the applicable insurer recognized	1144
under section 1733.041 of the Revised Code.	1145

Sec. 1733.31.  For purposes of this section, "gross income"	1146
means all income, before expenses, earned on risk assets. "Risk	1147
assets" shall be defined by rule adopted by the superintendent of	1148
credit unions.	1149

Each credit union shall establish and maintain reserves as	1150
required by Chapter 1733. of the Revised Code, or by rules adopted	1151
by the superintendent, including the following:	1152

(A) Valuation allowances for delinquent loans, investments,	1153
other risk assets, and contingencies, which shall be established	1154
and maintained pursuant to rules adopted adopted by the	1155
superintendent.	1156

(B) A regular reserve as follows:

1157

(1) A credit union in operation for more than four years and	1158
having assets of five hundred thousand dollars or more shall	1159
reserve ten per cent of its gross income until its regular reserve	1160
equals four per cent of its total risk assets. Once the credit	1161
union has regular reserves equal to four per cent of its total	1162
risk assets, it shall reserve five per cent of its gross income	1163
until its regular reserve equals six per cent of its total risk	1164
assets.	1165

(2) A credit union in operation for less than four years or	1166
having assets of less than five hundred thousand dollars shall	1167
reserve ten per cent of its gross income until its regular reserve	1168
equals seven and one-half per cent of its total risk assets. Once	1169
the credit union has regular reserves equal to seven and one-half	1170
per cent of its total risk assets, it shall reserve five per cent	1171
of its gross income until its regular reserve equals ten per cent	1172
of its total risk assets.	1173

(3) The provision for loan losses, or other such provisions	1174
related to the valuation allowances described in division (A) of	1175
this section, recorded on the credit union's statement of income	1176
for the year shall be deducted from the appropriate regular	1177
reserve calculated under division (B)(1) or (2) of this section.	1178

(4) Once the credit union has closed out its net income or	1179
loss to undivided earnings, it may allocate any extraordinary loss	1180
for the year, as defined by AICPA APB Opinion No. 30 or by rules	1181
as promulgated by the superintendent, to the regular reserve.	1182

(5) If the regular reserve account becomes less than the	1183
percentage required by division (B)(1) or (2) of this section,	1184
then the schedule of allocation shall apply until the required	1185
percentages are achieved.	1186

(6) The superintendent may decrease the reserve requirements	1187
under division (B)(1) or (2) of this section when, in histhe	1188
superintendent's opinion, a decrease is necessary or desirable and	1189
is consistent with the purposes of this section.	1190

(7) Nothing herein shall prevent the superintendent from	1191
requiring a particular credit union or all credit unions to	1192
establish a regular reserve in excess of the percentages required	1193
by division (B)(1) or (2) of this section if, in the opinion of	1194
the superintendent, economic conditions or other appropriate	1195
circumstances so warrant.	1196

(C) Each credit union shall maintain a liquidity fund equal	1197
to five per cent of its shares. The assets included in the	1198
liquidity fund shall be defined by rule adopted by the	1199
superintendent. Nothing herein shall prevent the superintendent	1200
from requiring a particular credit union or all credit unions to	1201
establish a liquidity fund in excess ofgreater than or less than	1202
five per cent of total shares, if, in the opinion of the	1203
superintendent, economic conditions or other appropriate	1204
circumstances so warrant.	1205

(D)(1) Reserves for corporate credit unions shall be	1206
established by the superintendent with due regard for the	1207
reserving requirements for corporate credit unions set by the	1208
applicable insurer recognized under section 1733.041 of the	1209
Revised Code. Specific reserving requirements shall be established	1210
by rule of the superintendent, but shall substantially parallel	1211
the reserving formula set by the applicable insurer recognized	1212
under section 1733.041 of the Revised Code.	1213

(2) Nothing in division (D)(1) of this section shall prevent	1214
the superintendent from requiring a particular corporate credit	1215
union or all corporate credit unions to establish a regular	1216
reserve in excess of those reserves established pursuant to	1217
division (D)(1) of this section if, in the opinion of the	1218
superintendent, economic conditions or other appropriate	1219
circumstances so warrant.	1220

Sec. 1733.32.  (A)(1) The superintendent of financial	1221
institutions shall see that the laws relating to credit unions are	1222
executed and enforced.	1223

(2) The deputy superintendent for credit unions shall be the	1224
principal supervisor of credit unions. In that position, the	1225
deputy superintendent for credit unions shall, notwithstanding	1226
division (A)(3) of this section, be responsible for conducting	1227
examinations and preparing examination reports under that	1228
division. In addition, the deputy superintendent for credit unions	1229
shall, notwithstanding sections 1733.191, 1733.41, 1733.411, and	1230
1733.412 of the Revised Code, have the authority to adopt rules in	1231
accordance with those sections, and, notwithstanding section	1232
1733.05 of the Revised Code, shall have the authority to approve	1233
issues and matters pertaining to fields of membership. In	1234
performing or exercising any of the examination, rule-making, or	1235
other regulatory functions, powers, or duties vested by division	1236
(A)(2) of this section in the deputy superintendent for credit	1237
unions, the deputy superintendent for credit unions shall be	1238
subject to the control of the superintendent of financial	1239
institutions.	1240

(3) The superintendent of financial institutions shall	1241
develop and implement a system for evaluating the safety and	1242
soundness of credit unions and for determining when examinations	1243
and supervisory actions are necessary. Credit unions shall be	1244
subject to periodic examinations, as specified in rules adopted by	1245
the superintendent, and their books, records, and accounts shall	1246
be open to the inspection of the superintendent at all times. For	1247
the purpose of such examination or inspection, the superintendent	1248
may subpoena witnesses, administer oaths, receive testimony, and	1249
order the submission of documents.	1250

(B) Every credit union shall prepare and submit, on forms	1251
provided by the superintendent, a financial report to the	1252
superintendent showing its assets and liabilities whenever	1253
requested to do so by the superintendent. Every financial report	1254
shall be verified by the oaths of the two principal officers in	1255
charge of the affairs of the credit union at the time of such	1256
verification and shall be submitted to the superintendent within	1257
thirty days after the superintendent requests the financial	1258
report.	1259

(C) An annual financial report of the affairs and business of	1260
the credit union, showing its condition as of the thirty-first day	1261
of December unless otherwise authorized by the superintendent,	1262
shall be filed with the superintendent not later than the date	1263
authorized in the rules adopted by the superintendent.	1264

(D) If a financial report or an annual financial report is	1265
not filed with the superintendent in accordance with division (B)	1266
or (C) of this section, the superintendent may do both of the	1267
following:	1268

(1) Assess a fine, determined by rule adopted by the	1269
superintendent, for each day the report is in arrears;	1270

(2) If the superintendent gives written notice to the	1271
president of the credit union of the superintendent's intention to	1272
do so, issue an order revoking the credit union's articles of	1273
incorporation and appointing a liquidating agent to liquidate the	1274
credit union in accordance with section 1733.37 of the Revised	1275
Code.	1276

(E)(1) Except as provided in division (E)(2) of this section,	1277
each credit union doing business in this state shall remit,	1278
semiannually and within fifteen days after billing, to the	1279
treasurer of state, a supervisory fee in an amount determined by	1280
the superintendent and confirmed by the credit union council. The	1281
supervisory fee described in division (E)(1) of this section shall	1282
be based on a percentage of the gross assets of the credit union	1283
as shown by its last annual financial report filed with the	1284
superintendent in accordance with division (C) of this section.	1285
The minimum supervisory fee shall be determined by the	1286
superintendent and confirmed by the credit union council.	1287

(2) Each corporate credit union doing business in this state	1288
shall remit, semiannually and within fifteen days after billing,	1289
to the treasurer of state, a supervisory fee determined by rule	1290
adopted by the superintendent and confirmed by the credit union	1291
council. The aggregate annual amount of the fee shall not exceed	1292
the annual operating fee that the national credit union	1293
administration charges a federally chartered credit union pursuant	1294
to the "Federal Credit Union Act," 84 Stat. 994 (1970), 12	1295
U.S.C.A. 1751.	1296

(3) The superintendent annually shall present to the credit	1297
union council for confirmation the supervisory fees to be billed	1298
credit unions and corporate credit unions pursuant to division (E)	1299
of this section.	1300

(4) If any supervisory fee is not remitted in accordance with	1301
division (E)(1) or (2) of this section, the superintendent may	1302
assess a fine, determined by rule adopted by the superintendent,	1303
for each day that each fee is in arrears.	1304

(5)(a) Subject to division (E)(5)(b) of this section, the	1305
total amount of each semiannual billing to all credit unions and	1306
corporate credit unions combined shall equal one-half of the	1307
appropriation made by the main operating appropriation act,	1308
including any modifications made by the controlling board, to the	1309
division of financial institutions for the regulation of credit	1310
unions for the fiscal year in which the billings occur, except	1311
that the superintendent, in determining the supervisory fees, may	1312
take into consideration any funds lapsed from the appropriation	1313
made in the previous fiscal year.	1314

(b) If during the period between the credit union council's	1315
confirmation of supervisory fees and when supervisory fees	1316
described in this section are collected, the credit union council	1317
determines additional money is required to adequately fund the	1318
operations of the division of financial institutions for that	1319
fiscal year, the credit union council may, by the affirmative vote	1320
of five of its members, increase the supervisory fees billed. The	1321
superintendent promptly shall notify each credit union and	1322
corporate credit union of the increased supervisory fees, and each	1323
credit union or corporate credit union shall pay the increased	1324
supervisory fees billed by the superintendent.	1325

(6) The fees or fines collected pursuant to this section	1326
shall be credited to the credit unions fund created in section	1327
1733.321 of the Revised Code.	1328

(F) A report of such examination shall be forwarded to the	1329
president of each credit union after the completion of the	1330
examination. SuchThe report may contain comments relative to the	1331
management of the affairs of the credit union and also as to the	1332
general condition of its assets. Within thirty days of the receipt	1333
of suchthe report, a meeting of the directors shall be called to	1334
consider matters contained in the report, and the president shall	1335
notify the superintendent of any action taken at suchthe meeting.	1336

(G)(1) The superintendent shall furnish reports of	1337
examinations or other appropriate information to any organization	1338
referred to in section 1733.041 of the Revised Code when requested	1339
by suchthe organization and authorized by the credit union. The	1340
superintendent may charge a fee for such reports and other	1341
information as may be established by rules adopted by the	1342
superintendent.	1343

(2) A report of examination furnished pursuant to division	1344
(G)(1) of this section is the property of the division of credit	1345
unions and may be used by the examined credit union only in the	1346
conduct of its business. Under no circumstances may the credit	1347
union, its current or former directors, officers, employees,	1348
agents, shareholders, participants in the conduct of its affairs,	1349
or their agents disclose or make public, in any manner, a report	1350
of examination or its contents.	1351

(H) Except as provided in this division, information obtained	1352
by the superintendent of financial institutions and the	1353
superintendent's employees as a result of or arising out of the	1354
examination or independent audit of a credit union, from required	1355
reports, or because of their official position, shall be	1356
confidential. Such information may be disclosed only in connection	1357
with criminal proceedings or, subject to section 1733.327 of the	1358
Revised Code, when it is necessary for the superintendent to take	1359
official action pursuant to Chapter 1733. of the Revised Code and	1360
the rules adopted thereunder regarding the affairs of the credit	1361
union examined. Such information may also be introduced into	1362
evidence or disclosed when and in the manner authorized in section	1363
1181.25 of the Revised Code. This division does not prevent the	1364
superintendent from properly exchanging information relating to an	1365
examined credit union pursuant to division (F) or (G) of this	1366
section or, with officials of properly authorized state or federal	1367
financial institution regulatory authorities or, with any insurer	1368
recognized under section 1733.041, or with any surety recognized	1369
under section 1733.23 of the Revised Code. This division also does	1370
not prevent the superintendent from disclosing information	1371
contained in the financial reports or annual financial reports	1372
described in division (B) or (C) of this section to recognized	1373
credit union trade associations, to share guarantee insurance	1374
organizations, to federal or state agencies, or to the general	1375
public. Financial reports and annual financial reports described	1376
in divisions (B) and (C) of this section, call reports, or	1377
financial statements required to be filed with the division of	1378
financial institutions are public records for purposes of section	1379
149.43 of the Revised Code. Information relating to the	1380
examination or independent audit of a credit union other than	1381
information that is permitted to be disclosed by this section or	1382
is a public record are not public records for purposes of section	1383
149.43 of the Revised Code and are subject to this section.	1384

Sec. 1733.33.  (A) The voting members may adopt amendments to	1385
the articles or regulations or amended articles or regulations in	1386
a writing as provided in section 1733.11 of the Revised Code or in	1387
a meeting of members called for that expressly stated purpose by a	1388
vote of two-thirds of the voting members represented at such	1389
meeting; or, if the articles or regulations provide or permit, by	1390
the affirmative vote of a greater or lesser proportion, but not	1391
less than a majority of the voting members represented at such	1392
meeting. The board of directors may, at any duly held meeting,	1393
adopt amendments to the field of membership article or to the	1394
regulations, by an affirmative vote of two-thirds of the number of	1395
directors authorized by the articles or regulations.	1396

(B) The directors may adopt the following amendments to the	1397
articles:	1398

(1) Unless otherwise provided in the articles, an amendment	1399
changing the name of the corporation;	1400

(2) An amendment changing the place in this state where the	1401
principal office of the credit union is located;	1402

(3) An amendment changing the authorized number of shares;	1403
the express terms, if any, of the shares; and if the shares are	1404
classified, as permitted in section 1733.24 of the Revised Code,	1405
the designation of each class, their express terms, and par value,	1406
of any, per share.	1407

(C) In the event amendments to the articles or regulations or	1408
amended articles or regulations are adopted pursuant to section	1409
1733.11 of the Revised Code, a copy of the proposed amendments or	1410
proposed amended articles or regulations shall be distributed to	1411
all of the voting members at or prior to the date on which	1412
solicitation begins for written approval. In the event the	1413
amendments or amended articles or regulations are adopted in a	1414
meeting of members, copies of the proposed amendments or amended	1415
articles or regulations, as the case may be, shall be distributed	1416
to voting members upon request.	1417

(C)(D) Amendments to the articles or regulations or the	1418
amended articles or regulations shall include only such provisions	1419
as may be included in or omitted from original articles or the	1420
amended articles or regulations at the time the amendments or	1421
amended articles or regulations are adopted.	1422

(D)(E) Amended articles or regulations shall contain a	1423
statement that they supersede the existing articles or	1424
regulations, as the case may be.	1425

(E)(F) Any such amendment or amended articles or regulations	1426
shall become effective only when the same shallit or they have	1427
been approved by the superintendent in the same manner as required	1428
for original articles or regulations under section 1733.07 of the	1429
Revised Code. Amendments to the articles or amended articles shall	1430
become effective upon the filing of the same with the secretary of	1431
state.	1432

Sec. 1733.37.  (A) If it appears that any credit union is	1433
bankrupt or insolvent, that its shares are impaired, that it has	1434
violated this chapter, or rules adopted by the superintendent of	1435
credit unions, or that it is operating in an unsafe or unsound	1436
manner, or if the credit union is experiencing a declining trend	1437
in its financial condition and a majority of its board of	1438
directors, by resolution, requests the issuance of an order under	1439
this division, the superintendent may issue an order revoking the	1440
credit union's articles of incorporation and appointing a	1441
liquidating agent to liquidate the credit union in accordance with	1442
this section.	1443

(B) A credit union under order to liquidate or in the course	1444
of liquidation, shall continue in existence for the purpose of	1445
discharging its debts, collecting and distributing its assets, and	1446
doing all acts required in order to wind up its business, and may	1447
sue and be sued for the purpose of enforcing such debts and	1448
obligations until its affairs are fully adjusted. The board of	1449
directors, or in the case of involuntary dissolution, the	1450
liquidating agent, shall use the assets of the credit union to	1451
pay: first, expenses incidental to liquidation, including any	1452
surety bond that may be required; second, any liability due	1453
nonmembers; third, redemption of shares and share accounts. Assets	1454
then remaining shall be distributed to the members proportionately	1455
to the purchase price of shares held by each member as of the date	1456
dissolving was voted, or the date of suspension, as the case may	1457
be.	1458

(C) As soon as the board or the liquidating agent determines	1459
that all assets from which there is a reasonable expectancy of	1460
realization have been liquidated and distributed as set forth in	1461
this section, it shall execute a certificate of dissolution on a	1462
form prescribed by the superintendent of credit unions and submit	1463
the certificate to the secretary of state who shall, after filing	1464
or recording and indexing, forward evidence of the filing to the	1465
superintendent, whereupon the credit union shall be dissolved.	1466

(D) If the articles of a credit union have been canceled for	1467
cause, or if a credit union has filed a certificate of dissolution	1468
or has indicated an intention to file such certificate, and the	1469
directors and officers of the credit union, in the opinion of the	1470
superintendent, are not conducting the liquidation proceedings in	1471
an expeditious, orderly, and efficient manner or in the best	1472
interest of its members, the superintendent may terminate the	1473
liquidation proceedings and issue an order appointing a	1474
liquidating agent to liquidate the credit union in accordance with	1475
this section. Such liquidating agent shall furnish bond for the	1476
faithful discharge of the liquidating agent's duties in an amount	1477
to be approved by the superintendent.	1478

(E) The liquidating agent may, under such rules as the	1479
superintendent prescribes:	1480

(1) Receive and take possession of the books, records,	1481
assets, and property of every description of the credit union in	1482
liquidation; sell, enforce collection of, and liquidate all such	1483
assets and property; compound all bad or doubtful debts, sue in	1484
the name of the credit union in liquidation, and defend such	1485
actions as are brought against the liquidating agent in the	1486
capacity as suchliquidating agent or against the credit union;	1487

(2) Receive, examine, and pass upon all claims against the	1488
credit union in liquidation, including claims of members;	1489

(3) Make distribution and payment to creditors and members as	1490
their interests appear;	1491

(4) Execute such documents and papers and do such other acts	1492
asthat the liquidating agent deems necessary or desirable to	1493
discharge official duties.	1494

(F) The expenses incurred by the liquidating agent in the	1495
liquidation of the credit union include the compensation of the	1496
liquidating agent and any other necessary or proper expenses	1497
connected therewith, all of which shall be paid in order of	1498
priority out of the property of suchthe credit union in the hands	1499
of the liquidating agent. Such expensesExpenses of liquidation,	1500
including the compensation of the liquidating agent, are subject	1501
to approval by the superintendent unless such agent is appointed	1502
by the court. In no event shall the total of suchthe expenses	1503
exceed ten per cent of the assets of the credit union existing at	1504
the date of the appointment of the liquidating agent, nor shall	1505
the compensation of such agent exceed five per cent of such assets	1506
upon suchthat date or five thousand dollars, whichever is the	1507
lesser amount.	1508

(G) Subject to the prior approval of the superintendent, a	1509
credit union may enter into a purchase and assumption agreement to	1510
purchase any of the assets or assume any of the liabilities of a	1511
credit union for which a liquidating agent has been appointed by	1512
order of the superintendent in accordance with this section. All	1513
persons, associations, and select groups eligible for membership	1514
in the credit unions that are parties to the purchase and	1515
assumption agreement shall be deemed to have a common bond of	1516
association. The assumption of the field of membership may be	1517
restricted, as specified in the purchase and assumption agreement.	1518

Sec. 1733.38.  A credit union organized and duly qualified as	1519
a credit union in another state may qualify to do business as a	1520
credit union in this state provided:	1521

(A) Such credit union is organized under credit union law	1522
substantially similar to sections 1733.01 to 1733.45, inclusive,	1523
of the Revised Code;	1524

(B) The interest rate of such credit union on loans made to	1525
members in this state does not exceed the maximum interest rate	1526
permitted by sections 1733.01 to 1733.45, inclusive, of the	1527
Revised Code;	1528

(C) A credit union organized and doing business under the	1529
laws of this state is permitted to do business in suchthe other	1530
state or territory where it is permitted to conduct business as a	1531
credit union, under conditions substantially similar to the	1532
provisions of this section.	1533

Sec. 1733.412. (A) Notwithstanding any provision in Chapter	1534
1733. of the Revised Code, if federala credit unions,union	1535
operating in this state that is organized or chartered under this	1536
chapter or the laws of the United States, the home offices of	1537
which are located in this state, shall possess apossesses any	1538
right, power, privilege, or benefit by virtue of a statute, rule,	1539
orpolicy, regulation, interpretation, or judicial decision or	1540
will possess the right, power, privilege, or benefit by virtue of	1541
a rule or regulation issued but not effective, which right, power,	1542
privilege, or benefit is not possessed by a credit union organized	1543
under the laws of this state, the superintendent of credit unions	1544
may byshall adopt a rule authorizeunder section 111.15 of the	1545
Revised Code granting any credit unions organized under the laws	1546
of this stateunion doing business under authority granted by the	1547
superintendent authority to exercise the respective right, power,	1548
privilege, or benefit. A	1549

(B) The rule so adopted by the superintendent shall become	1550
pursuant to the authority of this section becomes effective on the	1551
date of its issuance, but if the rule is issued by the	1552
superintendent in anticipation of a federal rule or regulation	1553
which has been issued but has not then become effective, the	1554
effective date of the superintendent's rule shall be the later	1555
date on which the federal rule or regulation becomes effective	1556
later of the following dates:	1557

(1) The date the superintendent issues the rule;

1558

(2) The date, the statute, rule, policy, regulation,	1559
interpretation, or judicial decision on which the superintendent's	1560
rule is based becomes effective. However, if	1561

(C) If the rule adopted by the superintendent pursuant to	1562
this section is not enacted into law or adopted in accordance with	1563
Chapter 119. of the Revised Code within thirty months from theits	1564
effective date the rule is issued by the superintendent, the rule	1565
shall thereupon no longer be of any force or effect, however, the	1566
superintendent may adopt the rule under section 111.15 of the	1567
Revised Code pursuant to this section for an additional	1568
thirty-month period. The	1569

(D) The superintendent, upon thirty days' written notice to	1570
state-chartered credit unions, may revoke any rule issued by	1571
virtue of the authority of this section.	1572

Sec. 1733.44. (A) No person, partnership, association, or	1573
corporation, other than credit unions and associations of such	1574
credit unions, to which all credit unions in their respective	1575
jurisdictions are eligible, shall use any name or title containing	1576
the words "credit union" or represent themselves, in advertising	1577
or elsewhere, as conducting business as a credit union.	1578

(B) Subject to all of the following, a credit union may adopt	1579
one or more trade names:	1580

(1) The credit union shall give written notice of the	1581
proposed trade name to the superintendent of credit unions at	1582
least thirty days before using the trade name.	1583

(2) The superintendent may deny a credit union the right to	1584
use a given trade name or terminate a credit union's right to use	1585
a trade name for any reason.	1586

(3) A credit union may use a trade name or a name other than	1587
its official charter name in advertising or signage, so long as it	1588
uses its official charter name in communications with the division	1589
of financial institutions and for share certificates or	1590
certificates of deposit, signature cards, loan agreements, account	1591
statements, checks, drafts, and other legal documents.	1592

(4) A trade name shall be registered with the secretary of	1593
state pursuant to the laws of this state and the registration	1594
shall be accompanied by any written documentation issued by the	1595
superintendent relating to the right to use, denial to use, or	1596
termination of a trade name.	1597

Sec. 2101.161.  The probate court may order that prepaid and	1598
unearned costs be deposited with a bank, savings bank, savings and	1599
loan association, credit union, or trust company incorporated	1600
under the laws of this state or of the United States. The order	1601
shall be entered on the journal of the court and may specify that	1602
deposited costs are to be held in an account, or invested in an	1603
investment, supervised by the bank, savings bank, association,	1604
credit union, or company. Interest earned on deposited costs shall	1605
be paid into the county treasury by the end of the calendar year	1606
in which it is received.	1607

Sec. 2105.31. As used in sections 2105.31 to 2105.39 of the	1608
Revised Code:	1609

(A) "Co-owners with right of survivorship" includes joint	1610
tenants, tenants by the entireties, and other co-owners of real or	1611
personal property,; insurance or other policies,; or bank, savings	1612
bank, credit union, or other accounts, held under circumstances	1613
that entitle one or more persons to the whole of the property or	1614
account on the death of the other person or persons.	1615

(B) "Governing instrument" means a deed, will, trust,	1616
insurance or annuity policy, account with a transfer-on-death	1617
designation or the abbreviation TOD, account with a	1618
payable-on-death designation or the abbreviation POD, pension,	1619
profit-sharing, retirement, or similar benefit plan, instrument	1620
creating or exercising a power of appointment or a power of	1621
attorney, or a dispositive, appointive, or nominative instrument	1622
of any similar type.	1623

(C) "Payor" means a trustee, insurer, business entity,	1624
employer, governmental agency, political subdivision, or any other	1625
person authorized or obligated by law or a governing instrument to	1626
make payments or transfers.	1627

(D) "Event" includes the death of another person.

1628

Sec. 2109.13.  In any case in which a bond is required by the	1629
probate court from a fiduciary and the value of the estate or fund	1630
is such that the court deems it inexpedient to require security in	1631
the full amount prescribed by section 2109.04 of the Revised Code,	1632
the court may direct the deposit of any suitable personal property	1633
belonging to the estate or fund with a bank, building and loan	1634
association,savings bank, savings and loan association, credit	1635
union, or trust company incorporated under the laws of this state	1636
or of the United States, as may be designated by order of the	1637
court.	1638

The deposit shall be made in the name of the fiduciary, and	1639
the personal property deposited shall not be withdrawn from the	1640
custody of the bank, savings bank, association, credit union, or	1641
trust company except upon the special order of the court. No	1642
fiduciary shall receive or collect the whole or any part of the	1643
principal represented by the personal property without the special	1644
order of the court. Such an order can be made in favor of the	1645
fiduciary only if the court within its discretion, having regard	1646
for the purpose for which the order is requested, the disposition	1647
to be made of the assets as may be released, the value of the	1648
assets as related to the total value of the estate, and the period	1649
of time the assets will remain in the possession of the fiduciary,	1650
finds that the original bond previously given and then in force	1651
will be sufficient to protect the estate; otherwise, the court, as	1652
a condition to the release of the personal property deposited,	1653
shall require the fiduciary to execute an additional bond in an	1654
amount that the court determines.	1655

After the deposit has been made and after the filing with the	1656
court of a receipt for the personal property executed by the	1657
designated bank, savings bank, association, credit union, or	1658
company, which receipt shall acknowledge that the personal	1659
property is held by the bank, savings bank, association, credit	1660
union, or company subject to the order of the court, the court may	1661
fix or reduce the amount of the bond so that the amount of the	1662
penalty of the bond is determined with respect to the value of the	1663
remainder only of the estate or fund, without including the value	1664
of the personal property deposited. Neither the fiduciary nor his	1665
the fiduciary's sureties shall be liable for any loss to the trust	1666
estate resulting from the deposit as is authorized and directed by	1667
the court pursuant to this section, if the fiduciary has acted in	1668
good faith.	1669

This section may be invoked simultaneously with the initial	1670
application for appointment of the fiduciary if an interim receipt	1671
of the bank, savings bank, association, credit union, or company	1672
for which the application for appointment as depositary is being	1673
made, acknowledging that it already has received temporary deposit	1674
of the personal property described in the application for	1675
appointment as depositary, accompanies the simultaneous	1676
applications for appointment of fiduciary and for appointment of	1677
the depositary.	1678

Sec. 2109.372.  (A) As used in this section:

1679

(1) "Short term trust-quality investment fund" means a short	1680
term investment fund that meets both of the following conditions:	1681

(a) The fund may be either a collective investment fund	1682
established in accordance with section 1111.14 of the Revised Code	1683
or a registered investment company, including any affiliated	1684
investment company whether or not the fiduciary has invested other	1685
funds held by it in an agency or other nonfiduciary capacity in	1686
the securities of the same registered investment company or	1687
affiliated investment company.	1688

(b) The fund is invested in any one or more of the following	1689
manners:	1690

(i) In obligations of the United States or of its agencies;

1691

(ii) In obligations of one or more of the states of the	1692
United States or their political subdivisions;	1693

(iii) In variable demand notes, corporate money market	1694
instruments including, but not limited to, commercial paper rated	1695
at the time of purchase in either of the two highest	1696
classifications established by at least one nationally recognized	1697
standard rating service;	1698

(iv) Deposits in banks, savings banks, or savings and loan	1699
associations, whose deposits are insured by the federal deposit	1700
insurance corporation, or in credit unions insured by the national	1701
credit union administration or by a credit union share guaranty	1702
corporation established under Chapter 1761. of the Revised Code,	1703
if the rate of interest paid on such deposits is at least equal to	1704
the rate of interest generally paid by such banks or, savings	1705
banks, savings and loan associations, or credit unions on deposits	1706
of similar terms or amounts;	1707

(v) In fully collateralized repurchase agreements or other	1708
evidences of indebtedness that are of trust quality and are	1709
payable on demand or have a maturity date consistent with the	1710
purpose of the fund and the duty of fiduciary prudence.	1711

(2) "Registered investment company" means any investment	1712
company that is defined in and registered under sections 3 and 8	1713
of the "Investment Company Act of 1940," 54 Stat. 789, 15 U.S.C.A.	1714
80a-3 and 80a-8.	1715

(3) "Affiliated investment company" has the same meaning as	1716
in division (E)(1) of section 1111.13 of the Revised Code.	1717

(B) A fiduciary is not required to invest cash that belongs	1718
to the trust and may hold that cash for the period prior to	1719
distribution if either of the following applies:	1720

(1) The fiduciary reasonably expects to do either of the	1721
following:	1722

(a) Distribute the cash to beneficiaries of the trust on a	1723
quarterly or more frequent basis;	1724

(b) Use the cash for the payment of debts, taxes, or expenses	1725
of administration within the ninety-day period following the	1726
receipt of the cash by the fiduciary.	1727

(2) Determined on the basis of the facilities available to	1728
the fiduciary and the amount of the income that reasonably could	1729
be earned by the investment of the cash, the amount of the cash	1730
does not justify the administrative burden or expense associated	1731
with its investment.	1732

(C) If a fiduciary wishes to hold funds that belong to the	1733
trust in liquid form and division (B) of this section does not	1734
apply, the fiduciary may so hold the funds as long as they are	1735
temporarily invested as described in division (D) of this section.	1736

(D)(1) A fiduciary may make a temporary investment of cash	1737
that the fiduciary may hold uninvested in accordance with division	1738
(B) of this section, and shall make a temporary investment of	1739
funds held in liquid form pursuant to division (C) of this	1740
section, in any of the following investments, unless the governing	1741
instrument provides for other investments in which the temporary	1742
investment of cash or funds is permitted:	1743

(a) A short term trust-quality investment fund;

1744

(b) Direct obligations of the United States or of its	1745
agencies;	1746

(c) A deposit with a bank or, savings bank, savings and loan	1747
association, or credit union, including a deposit with the	1748
fiduciary itself or any bank subsidiary corporation owned or	1749
controlled by the bank holding company that owns or controls the	1750
fiduciary, whose deposits are insured by the federal deposit	1751
insurance corporation, if the rate of interest paid on that	1752
deposit is at least equal to the rate of interest generally paid	1753
by that bank or, savings bank, savings and loan association, or	1754
credit union on deposits of similar terms or amounts.	1755

(2) A fiduciary that makes a temporary investment of cash or	1756
funds pursuant to division (D)(1) of this section may charge a	1757
reasonable fee for the services associated with that investment.	1758
The fee shall be in addition to the compensation to which the	1759
fiduciary is entitled for his ordinary fiduciary services.	1760

(3) Fiduciaries that make one or more temporary investments	1761
of cash or funds pursuant to division (D)(1) of this section shall	1762
provide to the beneficiaries of the trusts involved, that are	1763
currently receiving income or have a right to receive income, a	1764
written disclosure of their temporary investment practices and, if	1765
applicable, the method of computing reasonable fees for their	1766
temporary investment services pursuant to division (D)(2) of this	1767
section. Fiduciaries may comply with this requirement in any	1768
appropriate written document, including, but not limited to, any	1769
periodic statement or account.	1770

(4) A fiduciary that makes a temporary investment of cash or	1771
funds in an affiliated investment company pursuant to division	1772
(D)(1)(a) of this section shall, when providing any periodic	1773
account statements of its temporary investment practices, report	1774
the net asset value of the shares comprising the investment in the	1775
affiliated investment company.	1776

(5) If a fiduciary that makes a temporary investment of cash	1777
or funds in an affiliated investment company pursuant to division	1778
(D)(1)(a) of this section invests in any mutual fund, the	1779
fiduciary shall provide to the beneficiaries of the trust	1780
involved, that are currently receiving income or have a right to	1781
receive income, a written disclosure, in at least ten-point	1782
boldface type, that the mutual fund is not insured or guaranteed	1783
by the federal deposit insurance corporation or by any other	1784
government agency or government-sponsored agency of the federal	1785
government or of this state.	1786

Sec. 2109.41.  Immediately after appointment and throughout	1787
the administration of a trust, but subject to section 2109.372 of	1788
the Revised Code, every fiduciary, pending payment of current	1789
obligations of histhe fiduciary's trust, distribution, or	1790
investment pursuant to law, shall deposit all funds received by	1791
himthe fiduciary in histhe fiduciary's name as such fiduciary in	1792
one or more depositaries. Each depositary shall be a bank or,	1793
savings bank, savings and loan association, or credit union	1794
located in this state. A corporate fiduciary, authorized to	1795
receive deposits of fiduciaries, may be the depository of funds	1796
held by it as such fiduciary. All deposits made pursuant to this	1797
section shall be in such class of account as will be most	1798
advantageous to the trust, and each depositary shall pay interest	1799
at the highest rate customarily paid to its patrons on deposits in	1800
accounts of the same class.	1801

The placing of such funds in such depositaries under the	1802
joint control of the fiduciary and a surety on the bond of the	1803
fiduciary shall not increase the liability of the fiduciary.	1804

Sec. 4705.09.  (A)(1) Any person admitted to the practice of	1805
law in this state by order of the supreme court in accordance with	1806
its prescribed and published rules, or any law firm or legal	1807
professional association, may establish and maintain an	1808
interest-bearing trust account, for purposes of depositing client	1809
funds held by the attorney, firm, or association that are nominal	1810
in amount or are to be held by the attorney, firm, or association	1811
for a short period of time, with any bank or, savings bank,	1812
savings and loan association that is authorized to do business in	1813
this state and is insured by the federal deposit insurance	1814
corporation or the successor to that corporation, or any credit	1815
union insured by the national credit union administration	1816
operating under the "Federal Credit Union Act," 84 Stat. 994	1817
(1970), 12 U.S.C.A. 1751, or insured by a credit union share	1818
guaranty corporation established under Chapter 1761. of the	1819
Revised Code. Each account established under this division shall	1820
be in the name of the attorney, firm, or association that	1821
established and is maintaining it and shall be identified as an	1822
IOLTA or an interest on lawyer's trust account. The name of the	1823
account may contain additional identifying features to distinguish	1824
it from other trust accounts established and maintained by the	1825
attorney, firm, or association.	1826

(2) Each attorney who receives funds belonging to a client	1827
shall do one of the following:	1828

(a) Establish and maintain one or more interest-bearing trust	1829
accounts in accordance with division (A)(1) of this section or	1830
maintain one or more interest-bearing trust accounts previously	1831
established in accordance with that division, and deposit all	1832
client funds held that are nominal in amount or are to be held by	1833
the attorney for a short period of time in the account or	1834
accounts;	1835

(b) If the attorney is affiliated with a law firm or legal	1836
professional association, comply with division (A)(2)(a) of this	1837
section or deposit all client funds held that are nominal in	1838
amount or are to be held by the attorney for a short period of	1839
time in one or more interest-bearing trust accounts established	1840
and maintained by the firm or association in accordance with	1841
division (A)(1) of this section.	1842

(3) No funds belonging to any attorney, firm, or legal	1843
professional association shall be deposited in any	1844
interest-bearing IOLTAtrust account established under division	1845
(A)(1) or (2) of this section, except that funds sufficient to pay	1846
or enable a waiver of depository institution service charges on	1847
the account shall be deposited in the account and other funds	1848
belonging to the attorney, firm, or association may be deposited	1849
as authorized by the Code of Professional Responsibility adopted	1850
by the supreme court. The determinations of whether funds held are	1851
nominal or more than nominal in amount and of whether funds are to	1852
be held for a short period or longer than a short period of time	1853
rests in the sound judgment of the particular attorney. No	1854
imputation of professional misconduct shall arise from the	1855
attorney's exercise of judgment in these matters.	1856

(B) All interest earned on funds deposited in an	1857
interest-bearing trust account established under division (A)(1)	1858
or (2) of this section shall be transmitted to the treasurer of	1859
state for deposit in the legal aid fund established under section	1860
120.52 of the Revised Code. No part of the interest earned on	1861
funds deposited in an interest-bearing trust account established	1862
under division (A)(1) or (2) of this section shall be paid to, or	1863
inure to the benefit of, the attorney, the attorney's law firm or	1864
legal professional association, the client or other person who	1865
owns or has a beneficial ownership of the funds deposited, or any	1866
other person other than in accordance with this section, section	1867
4705.10, and sections 120.51 to 120.55 of the Revised Code.	1868

(C) No liability arising out of any act or omission by any	1869
attorney, law firm, or legal professional association with respect	1870
to any interest-bearing trust account established under division	1871
(A)(1) or (2) of this section shall be imputed to the depository	1872
institution.	1873

(D) The supreme court may adopt and enforce rules of	1874
professional conduct that pertain to the use, by attorneys, law	1875
firms, or legal professional associations, of interest-bearing	1876
trust accounts established under division (A)(1) or (2) of this	1877
section, and that pertain to the enforcement of division (A)(2) of	1878
this section. Any rules adopted by the supreme court under this	1879
authority shall conform to the provisions of this section, section	1880
4705.10, and sections 120.51 to 120.55 of the Revised Code.	1881

Sec. 4973.17.  (A) Upon the application of any bank,	1882
building; savings and loan association,; savings bank; credit	1883
union; or association of banks or building, savings and loan	1884
associations, savings banks, or credit unions in this state, the	1885
secretary of state may appoint and commission any persons that the	1886
bank, building; savings and loan association,; savings bank;	1887
credit union; or association of banks or building, savings and	1888
loan associations, savings banks, or credit unions designates, or	1889
as many of those persons as the secretary of state considers	1890
proper, to act as police officers for and on the premises of that	1891
bank, building; savings and loan association,; savings bank;	1892
credit union; or association of banks or building, savings and	1893
loan associations, savings banks, or credit unions; or elsewhere,	1894
when directly in the discharge of their duties. Police officers so	1895
appointed shall be citizens of this state and of good character	1896
and shall have successfully completed a training program approved	1897
by the Ohio peace officer training commission described in section	1898
109.71 of the Revised Code and be certified by the commission.	1899
They shall hold office for three years, unless, for good cause	1900
shown, their commission is revoked by the secretary of state, or	1901
by the bank, building; savings and loan association,; savings	1902
bank; credit union; or association of banks or building, savings	1903
and loan associations, savings banks, or credit unions, as	1904
provided by law.	1905

(B) Upon the application of a company owning or using a	1906
railroad in this state and subject to section 4973.171 of the	1907
Revised Code, the secretary of state may appoint and commission	1908
any persons that the railroad company designates, or as many of	1909
those persons as the secretary of state considers proper, to act	1910
as police officers for and on the premises of the railroad	1911
company, its affiliates or subsidiaries, or elsewhere, when	1912
directly in the discharge of their duties. Police officers so	1913
appointed, within the time set by the Ohio peace officer training	1914
commission, shall successfully complete a commission approved	1915
training program and be certified by the commission. They shall	1916
hold office for three years, unless, for good cause shown, their	1917
commission is revoked by the secretary of state, or railroad	1918
company, as provided by law.	1919

Any person holding a similar commission in another state may	1920
be commissioned and may hold office in this state without	1921
completing the approved training program required by this division	1922
provided that the person has completed a substantially equivalent	1923
training program in the other state. The Ohio peace officer	1924
training commission shall determine whether a training program in	1925
another state meets the requirements of this division.	1926

(C) Upon the application of any company under contract with	1927
the United States atomic energy commission for the construction or	1928
operation of a plant at a site owned by the commission, the	1929
secretary of state may appoint and commission persons the company	1930
designates, not to exceed one hundred fifty, to act as police	1931
officers for the company at the plant or site owned by the	1932
commission. Police officers so appointed shall be citizens of this	1933
state and of good character. They shall hold office for three	1934
years, unless, for good cause shown, their commission is revoked	1935
by the secretary of state or by the company, as provided by law.	1936

(D)(1) Upon the application of any hospital that is operated	1937
by a public hospital agency or a nonprofit hospital agency and	1938
that employs and maintains its own proprietary police department	1939
or security department and subject to section 4973.171 of the	1940
Revised Code, the secretary of state may appoint and commission	1941
any persons that the hospital designates, or as many of those	1942
persons as the secretary of state considers proper, to act as	1943
police officers for the hospital. No person who is appointed as a	1944
police officer under this division shall engage in any duties or	1945
activities as a police officer for the hospital or any affiliate	1946
or subsidiary of the hospital unless all of the following apply:	1947

(a) The chief of police of the municipal corporation in which	1948
the hospital is located or, if the hospital is located in the	1949
unincorporated area of a county, the sheriff of that county has	1950
granted approval to the hospital to permit persons appointed as	1951
police officers under this division to engage in those duties and	1952
activities. The approval required by this division is general in	1953
nature and is intended to cover in the aggregate all persons	1954
appointed as police officers for the hospital under this division;	1955
a separate approval is not required for each appointee on an	1956
individual basis.	1957

(b) Subsequent to the grant of approval described in division	1958
(D)(1)(a) of this section, the hospital has entered into a written	1959
agreement with the chief of police of the municipal corporation in	1960
which the hospital is located or, if the hospital is located in	1961
the unincorporated area of a county, with the sheriff of that	1962
county, that sets forth the standards and criteria to govern the	1963
interaction and cooperation between persons appointed as police	1964
officers for the hospital under this division and law enforcement	1965
officers serving the agency represented by the chief of police or	1966
sheriff who signed the agreement in areas of their concurrent	1967
jurisdiction. The written agreement shall be signed by the	1968
appointing authority of the hospital and by the chief of police or	1969
sheriff. The standards and criteria may include, but are not	1970
limited to, provisions governing the reporting of offenses	1971
discovered by hospital police officers to the agency represented	1972
by the chief of police or sheriff, provisions governing	1973
investigatory responsibilities relative to offenses committed on	1974
hospital property, and provisions governing the processing and	1975
confinement of persons arrested for offenses committed on hospital	1976
property. The agreement required by this division is intended to	1977
apply in the aggregate to all persons appointed as police officers	1978
for the hospital under this division; a separate agreement is not	1979
required for each appointee on an individual basis.	1980

(c) The person has successfully completed a training program	1981
approved by the Ohio peace officer training commission and has	1982
been certified by the commission. A person appointed as a police	1983
officer under this division may attend a training program approved	1984
by the commission and be certified by the commission regardless of	1985
whether the appropriate chief of police or sheriff has granted the	1986
approval described in division (D)(1)(a) of this section and	1987
regardless of whether the hospital has entered into the written	1988
agreement described in division (D)(1)(b) of this section with the	1989
appropriate chief of police or sheriff.	1990

(2)(a) A person who is appointed as a police officer under	1991
division (D)(1) of this section is entitled, upon the grant of	1992
approval described in division (D)(1)(a) of this section and upon	1993
the person's and the hospital's compliance with the requirements	1994
of divisions (D)(1)(b) and (c) of this section, to act as a police	1995
officer for the hospital on the premises of the hospital and of	1996
its affiliates and subsidiaries that are within the territory of	1997
the municipal corporation served by the chief of police or the	1998
unincorporated area of the county served by the sheriff who signed	1999
the written agreement described in division (D)(1)(b) of this	2000
section, whichever is applicable, and anywhere else within the	2001
territory of that municipal corporation or within the	2002
unincorporated area of that county. The authority to act as a	2003
police officer as described in this division is granted only if	2004
the person, when engaging in that activity, is directly in the	2005
discharge of the person's duties as a police officer for the	2006
hospital. The authority to act as a police officer as described in	2007
this division shall be exercised in accordance with the standards	2008
and criteria set forth in the written agreement described in	2009
division (D)(1)(b) of this section.	2010

(b) Additionally, a person appointed as a police officer	2011
under division (D)(1) of this section is entitled, upon the grant	2012
of approval described in division (D)(1)(a) of this section and	2013
upon the person's and the hospital's compliance with the	2014
requirements of divisions (D)(1)(b) and (c) of this section, to	2015
act as a police officer elsewhere, within the territory of a	2016
municipal corporation or within the unincorporated area of a	2017
county, if the chief of police of that municipal corporation or	2018
the sheriff of that county, respectively, has granted approval for	2019
that activity to the hospital, police department, or security	2020
department served by the person as a police officer and if the	2021
person, when engaging in that activity, is directly in the	2022
discharge of the person's duties as a police officer for the	2023
hospital. The approval described in this division may be general	2024
in nature or may be limited in scope, duration, or applicability,	2025
as determined by the chief of police or sheriff granting the	2026
approval.	2027

(3) Police officers appointed under division (D)(1) of this	2028
section shall hold office for three years, unless, for good cause	2029
shown, their commission is revoked by the secretary of state or by	2030
the hospital, as provided by law. As used in divisions (D)(1) to	2031
(3) of this section, "public hospital agency" and "nonprofit	2032
hospital agency" have the same meanings as in section 140.01 of	2033
the Revised Code.	2034

(E)(1) Upon the application of any owner or operator of an	2035
amusement park that has an average yearly attendance in excess of	2036
six hundred thousand guests and that employs and maintains its own	2037
proprietary police department or security department and subject	2038
to section 4973.171 of the Revised Code, any judge of the	2039
municipal court or county court that has territorial jurisdiction	2040
over the amusement park may appoint and commission any persons	2041
that the owner or operator designates, or as many of those persons	2042
as the judge considers proper, to act as police officers for the	2043
amusement park. If the amusement park is located in more than one	2044
county, any judge of the municipal court or county court of any of	2045
those counties may make the appointments and commissions as	2046
described in this division. No person who is appointed as a police	2047
officer under this division shall engage in any duties or	2048
activities as a police officer for the amusement park or any	2049
affiliate or subsidiary of the owner or operator of the amusement	2050
park unless all of the following apply:	2051

(a) The appropriate chief or chiefs of police of the	2052
political subdivision or subdivisions in which the amusement park	2053
is located as specified in this division have granted approval to	2054
the owner or operator of the amusement park to permit persons	2055
appointed as police officers under this division to engage in	2056
those duties and activities. If the amusement park is located in a	2057
single municipal corporation or a single township, the chief of	2058
police of that municipal corporation or township is the	2059
appropriate chief of police for the grant of approval under this	2060
division. If the amusement park is located in two or more	2061
townships, two or more municipal corporations, or one or more	2062
townships and one or more municipal corporations, the chiefs of	2063
police of all of the affected townships and municipal corporations	2064
are the appropriate chiefs of police for the grant of approval	2065
under this division, and the approval must be jointly granted by	2066
all of those chiefs of police. The approval required by this	2067
division is general in nature and is intended to cover in the	2068
aggregate all persons appointed as police officers for the	2069
amusement park under this division. A separate approval is not	2070
required for each appointee on an individual basis.	2071

(b) Subsequent to the grant of approval described in division	2072
(E)(1)(a) of this section, the owner or operator has entered into	2073
a written agreement with the appropriate chief or chiefs of police	2074
of the political subdivision or subdivisions in which the	2075
amusement park is located as specified in this division and has	2076
provided the sheriff of the county in which the political	2077
subdivision or subdivisions are located with a copy of the	2078
agreement. If the amusement park is located in a single municipal	2079
corporation or a single township, the chief of police of that	2080
municipal corporation or township is the appropriate chief of	2081
police for entering into the written agreement under this	2082
division. If the amusement park is located in two or more	2083
townships, two or more municipal corporations, or one or more	2084
townships and one or more municipal corporations, the chiefs of	2085
police of all of the affected townships and municipal corporations	2086
are the appropriate chiefs of police for entering into the written	2087
agreement under this division, and the written agreement must be	2088
jointly entered into by all of those chiefs of police. The written	2089
agreement between the owner or operator and the chief or chiefs of	2090
police shall address the scope of activities, the duration of the	2091
agreement, and mutual aid arrangements and shall set forth the	2092
standards and criteria to govern the interaction and cooperation	2093
between persons appointed as police officers for the amusement	2094
park under this division and law enforcement officers serving the	2095
agency represented by the chief of police who signed the	2096
agreement. The written agreement shall be signed by the owner or	2097
operator and by the chief or chiefs of police who enter into it.	2098
The standards and criteria may include, but are not limited to,	2099
provisions governing the reporting of offenses discovered by the	2100
amusement park's police officers to the agency represented by the	2101
chief of police of the municipal corporation or township in which	2102
the offense occurred, provisions governing investigatory	2103
responsibilities relative to offenses committed on amusement park	2104
property, and provisions governing the processing and confinement	2105
of persons arrested for offenses committed on amusement park	2106
property. The agreement required by this division is intended to	2107
apply in the aggregate to all persons appointed as police officers	2108
for the amusement park under this division. A separate agreement	2109
is not required for each appointee on an individual basis.	2110

(c) The person has successfully completed a training program	2111
approved by the Ohio peace officer training commission and has	2112
been certified by the commission. A person appointed as a police	2113
officer under this division may attend a training program approved	2114
by the commission and be certified by the commission regardless of	2115
whether the appropriate chief of police has granted the approval	2116
described in division (E)(1)(a) of this section and regardless of	2117
whether the owner or operator of the amusement park has entered	2118
into the written agreement described in division (E)(1)(b) of this	2119
section with the appropriate chief of police.	2120

(2)(a) A person who is appointed as a police officer under	2121
division (E)(1) of this section is entitled, upon the grant of	2122
approval described in section (E)(1)(a) of this section and upon	2123
the person's and the owner or operator's compliance with the	2124
requirements of division (E)(1)(b) and (c) of this section, to act	2125
as a police officer for the amusement park and its affiliates and	2126
subsidiaries that are within the territory of the political	2127
subdivision or subdivisions served by the chief of police, or	2128
respective chiefs of police, who signed the written agreement	2129
described in division (E)(1)(b) of this section, and upon any	2130
contiguous real property of the amusement park that is covered by	2131
the written agreement, whether within or adjacent to the political	2132
subdivision or subdivisions. The authority to act as a police	2133
officer as described in this division is granted only if the	2134
person, when engaging in that activity, is directly in the	2135
discharge of the person's duties as a police officer for the	2136
amusement park. The authority to act as a police officer as	2137
described in this division shall be exercised in accordance with	2138
the standards and criteria set forth in the written agreement	2139
described in division (E)(1)(b) of this section.	2140

(b) In addition to the authority granted under division	2141
(E)(2)(a) of this section, a person appointed as a police officer	2142
under division (E)(1) of this section is entitled, upon the grant	2143
of approval described in division (E)(1)(a) of this section and	2144
upon the person's and the owner or operator's compliance with the	2145
requirements of divisions (E)(1)(b) and (c) of this section, to	2146
act as a police officer elsewhere within the territory of a	2147
municipal corporation or township if the chief of police of that	2148
municipal corporation or township has granted approval for that	2149
activity to the owner or operator served by the person as a police	2150
officer and if the person, when engaging in that activity, is	2151
directly in the discharge of the person's duties as a police	2152
officer for the amusement park. The approval described in this	2153
division may be general in nature or may be limited in scope,	2154
duration, or applicability, as determined by the chief of police	2155
granting the approval.	2156

(3) Police officers appointed under division (E)(1) of this	2157
section shall hold office for five years, unless, for good cause	2158
shown, their commission is revoked by the appointing judge or the	2159
judge's successor or by the owner or operator, as provided by law.	2160

(F) A fee of fifteen dollars for each commission applied for	2161
under this section shall be paid at the time the application is	2162
made, and this amount shall be returned if for any reason a	2163
commission is not issued.	2164

Sec. 4973.171.  (A) As used in this section, "felony" has the	2165
same meaning as in section 109.511 of the Revised Code.	2166

(B)(1) The secretary of state shall not appoint or commission	2167
a person as a police officer for a bank, savings and loan	2168
association, credit union, or association of banks, savings and	2169
loan associations, or credit unions under division (A) of section	2170
4973.17 of the Revised Code; for a railroad company under division	2171
(B) of section 4973.17 of the Revised Code and shall not appoint	2172
or commission a person as a police officer; or for a hospital	2173
under division (D) of section 4973.17 of the Revised Code on a	2174
permanent basis, on a temporary basis, for a probationary term, or	2175
on other than a permanent basis if the person previously has been	2176
convicted of or has pleaded guilty to a felony.	2177

(2)(a) The secretary of state shall revoke the appointment or	2178
commission of a person appointed or commissioned as a police	2179
officer for a bank, savings and loan association, credit union, or	2180
association of banks, savings and loan associations, or credit	2181
unions; for a railroad company; or as a police officer for a	2182
hospital under division (A), (B), or (D) of section 4973.17 of the	2183
Revised Code if that person does either of the following:	2184

(i) Pleads guilty to a felony;

2185

(ii) Pleads guilty to a misdemeanor pursuant to a negotiated	2186
plea agreement as provided in division (D) of section 2929.43 of	2187
the Revised Code in which the person agrees to surrender the	2188
certificate awarded to that person under section 109.77 of the	2189
Revised Code.	2190

(b) The secretary of state shall suspend the appointment or	2191
commission of a person appointed or commissioned as a police	2192
officer for a bank, savings and loan association, credit union, or	2193
association of banks, savings and loan associations, or credit	2194
unions; for a railroad company; or as a police officer for a	2195
hospital under division (A), (B), or (D) of section 4973.17 of the	2196
Revised Code if that person is convicted, after trial, of a	2197
felony. If the person files an appeal from that conviction and the	2198
conviction is upheld by the highest court to which the appeal is	2199
taken or if the person does not file a timely appeal, the	2200
secretary of state shall revoke the appointment or commission of	2201
that person as a police officer for a bank, savings and loan	2202
association, credit union, or association of banks, savings and	2203
loan associations, or credit unions; for a railroad company; or as	2204
a police officer for a hospital. If the person files an appeal	2205
that results in that person's acquittal of the felony or	2206
conviction of a misdemeanor, or in the dismissal of the felony	2207
charge against that person, the secretary of state shall reinstate	2208
the appointment or commission of that person as a police officer	2209
for a bank, savings and loan association, credit union, or	2210
association of banks, savings and loan associations, or credit	2211
unions; for a railroad company; or as a police officer for a	2212
hospital. A person whose appointment or commission is reinstated	2213
under division (B)(2)(b) of this section shall not receive any	2214
back pay unless that person's conviction of the felony was	2215
reversed on appeal, or the felony charge was dismissed, because	2216
the court found insufficient evidence to convict the person of the	2217
felony.	2218

(3) Division (B) of this section does not apply regarding an	2219
offense that was committed prior to January 1, 1997.	2220

(4) The suspension or revocation of the appointment or	2221
commission of a person as a police officer for a bank, savings and	2222
loan association, credit union, or association of banks, savings	2223
and loan associations, or credit unions; for a railroad company;	2224
or as a police officer for a hospital under division (B)(2) of	2225
this section shall be in accordance with Chapter 119. of the	2226
Revised Code.	2227

(C)(1) A judge of a municipal court or county court that has	2228
territorial jurisdiction over an amusement park shall not appoint	2229
or commission a person as a police officer for the amusement park	2230
under division (E) of section 4973.17 of the Revised Code on a	2231
permanent basis, on a temporary basis, for a probationary term, or	2232
on other than a permanent basis if the person previously has been	2233
convicted of or has pleaded guilty to a felony.	2234

(2) The judge shall revoke the appointment or commission of a	2235
person appointed or commissioned as a police officer for an	2236
amusement park under division (E) of section 4973.17 of the	2237
Revised Code if that person does either of the following:	2238

(a) Pleads guilty to a felony;

2239

(b) Pleads guilty to a misdemeanor pursuant to a negotiated	2240
plea agreement as provided in division (D) of section 2929.43 of	2241
the Revised Code in which the person agrees to surrender the	2242
certificate awarded to that person under section 109.77 of the	2243
Revised Code.	2244

(3) The judge shall suspend the appointment or commission of	2245
a person appointed or commissioned as a police officer for an	2246
amusement park under division (E) of section 4973.17 of the	2247
Revised Code if that person is convicted, after trial, of a	2248
felony. If the person files an appeal from that conviction and	2249
that conviction is upheld by the highest court to which the appeal	2250
is taken or if the person does not file a timely appeal, the judge	2251
shall revoke the appointment or commission of that person as a	2252
police officer for an amusement park. If the person files an	2253
appeal that results in that person's acquittal of the felony or	2254
conviction of a misdemeanor or in the dismissal of the felony	2255
charge against that person, the judge shall reinstate the	2256
appointment or commission of that person as a police officer for	2257
an amusement park. A person whose appointment or commission is	2258
reinstated under division (C)(3) of this section shall not receive	2259
any back pay unless that person's conviction of the felony was	2260
reversed on appeal, or the felony charge was dismissed, because	2261
the court found insufficient evidence to convict the person of a	2262
felony.	2263

(4) Division (C) of this section does not apply regarding an	2264
offense that was committed prior to January 1, 1997.	2265

(5) The suspension or revocation of the appointment or	2266
commission of a person as a police officer for an amusement park	2267
under division (C)(2) of this section shall be in accordance with	2268
Chapter 119. of the Revised Code.	2269

Sec. 5725.01.  As used in sections 5725.01 to 5725.26 of the	2270
Revised Code:	2271

(A) "Financial institution" means:

2272

(1) A national bank organized and existing as a national bank	2273
association pursuant to the "National Bank Act," 12 U.S.C. 21;	2274

(2) A federal savings association or federal savings bank	2275
that is chartered under 12 U.S.C. 1464;	2276

(3) A bank, banking association, trust company, savings and	2277
loan association, savings bank, or other banking institution that	2278
is incorporated or organized under the laws of any state;	2279

(4) Any corporation organized under 12 U.S.C. 611 to 631;

2280

(5) Any agency or branch of a foreign depository as defined	2281
in 12 U.S.C. 3101;	2282

(6) A company licensed as a small business investment company	2283
under the "Small Business Investment Act of 1958," 72 Stat. 689,	2284
15 U.S.C. 66l, as amended; or	2285

(7) A company chartered under the "Farm Credit Act of 1933,"	2286
48 Stat. 257, 12 U.S.C. 1131(d), as amended.	2287

Corporations or institutions organized under the "Federal	2288
Farm Loan Act" and amendments thereto, insurance companies, and	2289
credit unions shall not be considered financial institutions or	2290
dealers in intangibles within the meaning of such sections.	2291

(B)(1) "Dealer in intangibles" includes every person who	2292
keeps an office or other place of business in this state and	2293
engages at such office or other place in a business that consists	2294
primarily of lending money, or discounting, buying, or selling	2295
bills of exchange, drafts, acceptances, notes, mortgages, or other	2296
evidences of indebtedness, or of buying or selling bonds, stocks,	2297
or other investment securities, whether on the person's own	2298
account with a view to profit, or as agent or broker for others,	2299
with a view to profit or personal earnings. Dealer in intangibles	2300
excludes institutions used exclusively for charitable purposes,	2301
insurance companies, and financial institutions. The investment of	2302
funds as personal accumulations or as business reserves or working	2303
capital does not constitute engaging in a business within the	2304
meaning of this division; but a person who, having engaged in a	2305
business that consists primarily of lending money, or discounting,	2306
buying, or selling bills of exchange, drafts, acceptances, notes,	2307
mortgages, or other evidences of indebtedness on the person's own	2308
account, remains in business primarily for the purpose of	2309
realizing upon the assets of the business is deemed a dealer in	2310
intangibles, though not presently engaged in a business that	2311
consists primarily of lending money or discounting or buying such	2312
securities.	2313

(2) The tax commissioner shall adopt a rule defining	2314
"primarily" as that term is used in division (B)(1) of this	2315
section.	2316

(C) "Insurance company" includes every corporation,	2317
association, and society engaged in the business of insurance of	2318
any character, or engaged in the business of entering into	2319
contracts substantially amounting to insurance of any character,	2320
or of indemnifying or guaranteeing against loss or damage, or	2321
acting as surety on bonds or undertakings. "Insurance company"	2322
also includes any health insuring corporation as defined in	2323
section 1751.01 of the Revised Code.	2324

(D) "Domestic insurance company" includes every insurance	2325
company organized and existing under the laws of this state, and	2326
every unincorporated association and society formed under the laws	2327
of this state for the purpose of engaging in said business, except	2328
a company, association, or society that is an insurance holding	2329
company affiliate controlled by a nonresident affiliate and has	2330
risks in this state formerly written by its foreign affiliates in	2331
a total amount exceeding the risks outstanding on the taxpayer's	2332
latest annual report that arise from business initially written by	2333
it in this state; and excludes every foreign insurance company. As	2334
used in this division, terms defined in section 3901.32 of the	2335
Revised Code have the same meanings given to them in that section.	2336

(E) "Foreign insurance company" includes every insurance	2337
company organized or existing under the laws of any other state,	2338
territory, country, or the United States and every insurance	2339
holding company affiliate excepted under division (D) of this	2340
section.	2341

(F) "Credit union" means a nonprofit cooperative financial	2342
institution organized or chartered under the laws of this state,	2343
of another state, or of the United States.	2344

Section 2. That existing sections 109.71, 109.73, 109.79,	2345
119.01, 1121.05, 1155.18, 1163.22, 1317.01, 1733.04, 1733.16,	2346
1733.22, 1733.24, 1733.25, 1733.251, 1733.29, 1733.30, 1733.31,	2347
1733.32, 1733.33, 1733.37, 1733.38, 1733.412, 1733.44, 2101.161,	2348
2105.31, 2109.13, 2109.372, 2109.41, 4705.09, 4973.17, 4973.171,	2349
and 5725.01 of the Revised Code are hereby repealed.	2350

Section 3.  Section 119.01 of the Revised Code is presented	2351
in this act as a composite of the section as amended by both Sub.	2352
H.B. 386 and Am. Sub. S.B. 138 of the 124th General Assembly. The	2353
General Assembly, applying the principle stated in division (B) of	2354
section 1.52 of the Revised Code that amendments are to be	2355
harmonized if reasonably capable of simultaneous operation, finds	2356
that the composites are the resulting versions of the sections in	2357
effect prior to the effective date of the sections as presented in	2358
this act.	2359