As Passed by the Senate

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 

Senators Carey, Stivers, Gardner, Clancy, Roberts, Spada, Armbruster, Austria, Cates, Dann, Fedor, Grendell, Harris, Kearney, Niehaus, Schuler, Schuring, Zurz, Miller, Mumper, Hagan, Wilson, Fingerhut, Prentiss 

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A BILL

To amend sections 109.71, 109.73, 109.79, 111.15,

1

119.01, 1121.05, 1155.18, 1163.22, 1317.01,

2

1733.04, 1733.16, 1733.22, 1733.24, 1733.25,

3

1733.251, 1733.29 to 1733.33, 1733.37, 1733.38,

4

1733.412, 1733.44, 2101.161, 2105.31, 2109.13,

5

2109.372, 2109.41, 4705.09, 4973.17, 4973.171, and

6

5725.01 of the Revised Code to make changes in the

7

Credit Union Law relating to general powers and

8

services offered, lending authority, shares issued

9

to minors, meetings of directors, compensation of

10

officers, record keeping, eligible investments,

11

liquidity fund requirements, public records, and

12

use of trade names; to authorize accounts to be

13

held by credit unions and savings banks under laws

14

relating to probate and intestate succession; to

15

authorize a credit union or savings bank to

16

maintain interest-bearing trust accounts on behalf

17

of attorneys; to authorize and specify

18

qualifications for on-premises police officers at

19

any financial institution; to revise the parity

20

rule authority of banks, savings banks, savings

21

and loan associations, and credit unions; and to

22

exempt transactions between credit unions and

23

their customers from the Retail Installment Sales

24

Act and the Consumer Sales Practices Act.

25

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

Section 1. That sections 109.71, 109.73, 109.79, 111.15,	26
119.01, 1121.05, 1155.18, 1163.22, 1317.01, 1733.04, 1733.16,	27
1733.22, 1733.24, 1733.25, 1733.251, 1733.29, 1733.30, 1733.31,	28
1733.32, 1733.33, 1733.37, 1733.38, 1733.412, 1733.44, 2101.161,	29
2105.31, 2109.13, 2109.372, 2109.41, 4705.09, 4973.17, 4973.171,	30
and 5725.01 of the Revised Code be amended to read as follows:	31

Sec. 109.71.  There is hereby created in the office of the	32
attorney general the Ohio peace officer training commission. The	33
commission shall consist of nine members appointed by the governor	34
with the advice and consent of the senate and selected as follows:	35
one member representing the public; two members who are incumbent	36
sheriffs; two members who are incumbent chiefs of police; one	37
member from the bureau of criminal identification and	38
investigation; one member from the state highway patrol; one	39
member who is the special agent in charge of a field office of the	40
federal bureau of investigation in this state; and one member from	41
the department of education, trade and industrial education	42
services, law enforcement training.	43

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

44

(A) "Peace officer" means:

45

(1) A deputy sheriff, marshal, deputy marshal, member of the	46
organized police department of a township or municipal	47
corporation, member of a township police district or joint	48
township police district police force, member of a police force	49
employed by a metropolitan housing authority under division (D) of	50
section 3735.31 of the Revised Code, or township constable, who is	51
commissioned and employed as a peace officer by a political	52
subdivision of this state or by a metropolitan housing authority,	53
and whose primary duties are to preserve the peace, to protect	54
life and property, and to enforce the laws of this state,	55
ordinances of a municipal corporation, resolutions of a township,	56
or regulations of a board of county commissioners or board of	57
township trustees, or any of those laws, ordinances, resolutions,	58
or regulations;	59

(2) A police officer who is employed by a railroad company	60
and appointed and commissioned by the governorsecretary of state	61
pursuant to sections 4973.17 to 4973.22 of the Revised Code;	62

(3) Employees of the department of taxation engaged in the	63
enforcement of Chapter 5743. of the Revised Code and designated by	64
the tax commissioner for peace officer training for purposes of	65
the delegation of investigation powers under section 5743.45 of	66
the Revised Code;	67

(4) An undercover drug agent;

68

(5) Enforcement agents of the department of public safety	69
whom the director of public safety designates under section	70
5502.14 of the Revised Code;	71

(6) An employee of the department of natural resources who is	72
a natural resources law enforcement staff officer designated	73
pursuant to section 1501.013, a park officer designated pursuant	74
to section 1541.10, a forest officer designated pursuant to	75
section 1503.29, a preserve officer designated pursuant to section	76
1517.10, a wildlife officer designated pursuant to section	77
1531.13, or a state watercraft officer designated pursuant to	78
section 1547.521 of the Revised Code;	79

(7) An employee of a park district who is designated pursuant	80
to section 511.232 or 1545.13 of the Revised Code;	81

(8) An employee of a conservancy district who is designated	82
pursuant to section 6101.75 of the Revised Code;	83

(9) A police officer who is employed by a hospital that	84
employs and maintains its own proprietary police department or	85
security department, and who is appointed and commissioned by the	86
governorsecretary of state pursuant to sections 4973.17 to	87
4973.22 of the Revised Code;	88

(10) Veterans' homes police officers designated under section	89
5907.02 of the Revised Code;	90

(11) A police officer who is employed by a qualified	91
nonprofit corporation police department pursuant to section	92
1702.80 of the Revised Code;	93

(12) A state university law enforcement officer appointed	94
under section 3345.04 of the Revised Code or a person serving as a	95
state university law enforcement officer on a permanent basis on	96
June 19, 1978, who has been awarded a certificate by the executive	97
director of the Ohio peace officer training commission attesting	98
to the person's satisfactory completion of an approved state,	99
county, municipal, or department of natural resources peace	100
officer basic training program;	101

(13) A special police officer employed by the department of	102
mental health pursuant to section 5119.14 of the Revised Code or	103
the department of mental retardation and developmental	104
disabilities pursuant to section 5123.13 of the Revised Code;	105

(14) A member of a campus police department appointed under	106
section 1713.50 of the Revised Code;	107

(15) A member of a police force employed by a regional	108
transit authority under division (Y) of section 306.35 of the	109
Revised Code;	110

(16) Investigators appointed by the auditor of state pursuant	111
to section 117.091 of the Revised Code and engaged in the	112
enforcement of Chapter 117. of the Revised Code;	113

(17) A special police officer designated by the	114
superintendent of the state highway patrol pursuant to section	115
5503.09 of the Revised Code or a person who was serving as a	116
special police officer pursuant to that section on a permanent	117
basis on October 21, 1997, and who has been awarded a certificate	118
by the executive director of the Ohio peace officer training	119
commission attesting to the person's satisfactory completion of an	120
approved state, county, municipal, or department of natural	121
resources peace officer basic training program;	122

(18) A special police officer employed by a port authority	123
under section 4582.04 or 4582.28 of the Revised Code or a person	124
serving as a special police officer employed by a port authority	125
on a permanent basis on May 17, 2000, who has been awarded a	126
certificate by the executive director of the Ohio peace officer	127
training commission attesting to the person's satisfactory	128
completion of an approved state, county, municipal, or department	129
of natural resources peace officer basic training program;	130

(19) A special police officer employed by a municipal	131
corporation who has been awarded a certificate by the executive	132
director of the Ohio peace officer training commission for	133
satisfactory completion of an approved peace officer basic	134
training program and who is employed on a permanent basis on or	135
after March 19, 2003, at a municipal airport, or other municipal	136
air navigation facility, that has scheduled operations, as defined	137
in section 119.3 of Title 14 of the Code of Federal Regulations,	138
14 C.F.R. 119.3, as amended, and that is required to be under a	139
security program and is governed by aviation security rules of the	140
transportation security administration of the United States	141
department of transportation as provided in Parts 1542. and 1544.	142
of Title 49 of the Code of Federal Regulations, as amended;	143

(20) A police officer who is employed by an owner or operator	144
of an amusement park that has an average yearly attendance in	145
excess of six hundred thousand guests and that employs and	146
maintains its own proprietary police department or security	147
department, and who is appointed and commissioned by a judge of	148
the appropriate municipal court or county court pursuant to	149
section 4973.17 of the Revised Code;	150

(21) A police officer who is employed by a bank; savings and	151
loan association; savings bank; credit union; or association of	152
banks, savings and loan associations, savings banks, or credit	153
unions and appointed and commissioned by the secretary of state	154
pursuant to sections 4973.17 to 4973.22 of the Revised Code.	155

(B) "Undercover drug agent" has the same meaning as in	156
division (B)(2) of section 109.79 of the Revised Code.	157

(C) "Crisis intervention training" means training in the use	158
of interpersonal and communication skills to most effectively and	159
sensitively interview victims of rape.	160

(D) "Missing children" has the same meaning as in section	161
2901.30 of the Revised Code.	162

Sec. 109.73.  (A) The Ohio peace officer training commission	163
shall recommend rules to the attorney general with respect to all	164
of the following:	165

(1) The approval, or revocation of approval, of peace officer	166
training schools administered by the state, counties, municipal	167
corporations, public school districts, technical college	168
districts, and the department of natural resources;	169

(2) Minimum courses of study, attendance requirements, and	170
equipment and facilities to be required at approved state, county,	171
municipal, and department of natural resources peace officer	172
training schools;	173

(3) Minimum qualifications for instructors at approved state,	174
county, municipal, and department of natural resources peace	175
officer training schools;	176

(4) The requirements of minimum basic training that peace	177
officers appointed to probationary terms shall complete before	178
being eligible for permanent appointment, which requirements shall	179
include a minimum of fifteen hours of training in the handling of	180
the offense of domestic violence, other types of domestic	181
violence-related offenses and incidents, and protection orders and	182
consent agreements issued or approved under section 2919.26 or	183
3113.31 of the Revised Code,; a minimum of six hours of crisis	184
intervention training,; and a specified amount of training in the	185
handling of missing children and child abuse and neglect cases,;	186
and the time within which such basic training shall be completed	187
following such appointment to a probationary term;	188

(5) The requirements of minimum basic training that peace	189
officers not appointed for probationary terms but appointed on	190
other than a permanent basis shall complete in order to be	191
eligible for continued employment or permanent appointment, which	192
requirements shall include a minimum of fifteen hours of training	193
in the handling of the offense of domestic violence, other types	194
of domestic violence-related offenses and incidents, and	195
protection orders and consent agreements issued or approved under	196
section 2919.26 or 3113.31 of the Revised Code, a minimum of six	197
hours of crisis intervention training, and a specified amount of	198
training in the handling of missing children and child abuse and	199
neglect cases, and the time within which such basic training shall	200
be completed following such appointment on other than a permanent	201
basis;	202

(6) Categories or classifications of advanced in-service	203
training programs for peace officers, including programs in the	204
handling of the offense of domestic violence, other types of	205
domestic violence-related offenses and incidents, and protection	206
orders and consent agreements issued or approved under section	207
2919.26 or 3113.31 of the Revised Code, in crisis intervention,	208
and in the handling of missing children and child abuse and	209
neglect cases, and minimum courses of study and attendance	210
requirements with respect to such categories or classifications;	211

(7) Permitting persons, who are employed as members of a	212
campus police department appointed under section 1713.50 of the	213
Revised Code,; who are employed as police officers by a qualified	214
nonprofit corporation police department pursuant to section	215
1702.80 of the Revised Code,; who are appointed and commissioned	216
as bank, savings and loan association, savings bank, credit union,	217
or association of banks, savings and loan associations, savings	218
banks, or credit unions police officers, as railroad police	219
officers, or as hospital police officers pursuant to sections	220
4973.17 to 4973.22 of the Revised Code,; or who are appointed and	221
commissioned as amusement park police officers pursuant to section	222
4973.17 of the Revised Code, to attend approved peace officer	223
training schools, including the Ohio peace officer training	224
academy, and to receive certificates of satisfactory completion of	225
basic training programs, if the private college or university that	226
established the campus police department,; qualified nonprofit	227
corporation police department,; bank, savings and loan	228
association, savings bank, credit union, or association of banks,	229
savings and loan associations, savings banks, or credit unions;	230
railroad company,; hospital,; or amusement park sponsoring the	231
police officers pays the entire cost of the training and	232
certification and if trainee vacancies are available;	233

(8) Permitting undercover drug agents to attend approved	234
peace officer training schools, other than the Ohio peace officer	235
training academy, and to receive certificates of satisfactory	236
completion of basic training programs, if, for each undercover	237
drug agent, the county, township, or municipal corporation that	238
employs that undercover drug agent pays the entire cost of the	239
training and certification;	240

(9)(a) The requirements for basic training programs for	241
bailiffs and deputy bailiffs of courts of record of this state and	242
for criminal investigators employed by the state public defender	243
that those persons shall complete before they may carry a firearm	244
while on duty;	245

(b) The requirements for any training received by a bailiff	246
or deputy bailiff of a court of record of this state or by a	247
criminal investigator employed by the state public defender prior	248
to June 6, 1986, that is to be considered equivalent to the	249
training described in division (A)(9)(a) of this section.	250

(10) Establishing minimum qualifications and requirements for	251
certification for dogs utilized by law enforcement agencies;	252

(11) Establishing minimum requirements for certification of	253
persons who are employed as correction officers in a full-service	254
jail, five-day facility, or eight-hour holding facility or who	255
provide correction services in such a jail or facility;	256

(12) Establishing requirements for the training of agents of	257
a county humane society under section 1717.06 of the Revised Code,	258
including, without limitation, a requirement that the agents	259
receive instruction on traditional animal husbandry methods and	260
training techniques, including customary owner-performed	261
practices.	262

(B) The commission shall appoint an executive director, with	263
the approval of the attorney general, who shall hold office during	264
the pleasure of the commission. The executive director shall	265
perform such duties as may be assigned by the commission. The	266
executive director shall receive a salary fixed pursuant to	267
Chapter 124. of the Revised Code and reimbursement for expenses	268
within the amounts available by appropriation. The executive	269
director may appoint officers, employees, agents, and consultants	270
as the executive director considers necessary, prescribe their	271
duties, and provide for reimbursement of their expenses within the	272
amounts available for reimbursement by appropriation and with the	273
approval of the commission.	274

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

275

(1) Recommend studies, surveys, and reports to be made by the	276
executive director regarding the carrying out of the objectives	277
and purposes of sections 109.71 to 109.77 of the Revised Code;	278

(2) Visit and inspect any peace officer training school that	279
has been approved by the executive director or for which	280
application for approval has been made;	281

(3) Make recommendations, from time to time, to the executive	282
director, the attorney general, and the general assembly regarding	283
the carrying out of the purposes of sections 109.71 to 109.77 of	284
the Revised Code;	285

(4) Report to the attorney general from time to time, and to	286
the governor and the general assembly at least annually,	287
concerning the activities of the commission;	288

(5) Establish fees for the services the commission offers	289
under sections 109.71 to 109.79 of the Revised Code, including,	290
but not limited to, fees for training, certification, and testing;	291

(6) Perform such other acts as are necessary or appropriate	292
to carry out the powers and duties of the commission as set forth	293
in sections 109.71 to 109.77 of the Revised Code.	294

(D) In establishing the requirements, under division (A)(12)	295
of this section, the commission may consider any portions of the	296
curriculum for instruction on the topic of animal husbandry	297
practices, if any, of the Ohio state university college of	298
veterinary medicine. No person or entity that fails to provide	299
instruction on traditional animal husbandry methods and training	300
techniques, including customary owner-performed practices, shall	301
qualify to train a humane agent for appointment under section	302
1717.06 of the Revised Code.	303

Sec. 109.79.  (A) The Ohio peace officer training commission	304
shall establish and conduct a training school for law enforcement	305
officers of any political subdivision of the state or of the state	306
public defender's office. The school shall be known as the Ohio	307
peace officer training academy. No bailiff or deputy bailiff of a	308
court of record of this state and no criminal investigator	309
employed by the state public defender shall be permitted to attend	310
the academy for training unless the employing court of the bailiff	311
or deputy bailiff or the state public defender, whichever is	312
applicable, has authorized the bailiff, deputy bailiff, or	313
investigator to attend the academy.	314

The Ohio peace officer training commission shall develop the	315
training program, which shall include courses in both the civil	316
and criminal functions of law enforcement officers, a course in	317
crisis intervention with six or more hours of training, and	318
training in the handling of missing children and child abuse and	319
neglect cases, and shall establish rules governing qualifications	320
for admission to the academy. The commission may require	321
competitive examinations to determine fitness of prospective	322
trainees, so long as the examinations or other criteria for	323
admission to the academy are consistent with the provisions of	324
Chapter 124. of the Revised Code.	325

The Ohio peace officer training commission shall determine	326
tuition costs which shall be sufficient in the aggregate to pay	327
the costs of operating the academy. The costs of acquiring and	328
equipping the academy shall be paid from appropriations made by	329
the general assembly to the Ohio peace officer training commission	330
for that purpose, from gifts or grants received for that purpose,	331
or from fees for goods related to the academy.	332

The law enforcement officers, during the period of their	333
training, shall receive compensation as determined by the	334
political subdivision that sponsors them or, if the officer is a	335
criminal investigator employed by the state public defender, as	336
determined by the state public defender. The political subdivision	337
may pay the tuition costs of the law enforcement officers they	338
sponsor and the state public defender may pay the tuition costs of	339
criminal investigators of that office who attend the academy.	340

If trainee vacancies exist, the academy may train and issue	341
certificates of satisfactory completion to peace officers who are	342
employed by a campus police department pursuant to section 1713.50	343
of the Revised Code, by a qualified nonprofit corporation police	344
department pursuant to section 1702.80 of the Revised Code, or by	345
a railroad company, who are amusement park police officers	346
appointed and commissioned by a judge of the appropriate municipal	347
court or county court pursuant to section 4973.17 of the Revised	348
Code, or who are bank, savings and loan association, savings bank,	349
credit union, or association of banks, savings and loan	350
associations, savings banks, or credit unions, or hospital police	351
officers appointed and commissioned by the governorsecretary of	352
state pursuant to sections 4973.17 to 4973.22 of the Revised Code,	353
provided that no such officer shall be trained at the academy	354
unless the officer meets the qualifications established for	355
admission to the academy and the qualified nonprofit corporation	356
police department,; bank, savings and loan association, savings	357
bank, credit union, or association of banks, savings and loan	358
associations, savings banks, or credit unions; railroad company,;	359
hospital,; or amusement park or the private college or university	360
that established the campus police department prepays the entire	361
cost of the training. A qualified nonprofit corporation police	362
department,; bank, savings and loan association, savings bank,	363
credit union, or association of banks, savings and loan	364
associations, savings banks, or credit unions; railroad company,;	365
hospital,; or amusement park or a private college or university	366
that has established a campus police department is not entitled to	367
reimbursement from the state for any amount paid for the cost of	368
training the bank, savings and loan association, savings bank,	369
credit union, or association of banks, savings and loan	370
associations, savings banks, or credit unions peace officers; the	371
railroad company's peace officers; or the peace officers of the	372
qualified nonprofit corporation police department, campus police	373
department, hospital, or amusement park.	374

The academy shall permit investigators employed by the state	375
medical board to take selected courses that the board determines	376
are consistent with its responsibilities for initial and	377
continuing training of investigators as required under sections	378
4730.26 and 4731.05 of the Revised Code. The board shall pay the	379
entire cost of training that investigators receive at the academy.	380

(B) As used in this section:

381

(1) "Law enforcement officers" include any undercover drug	382
agent, any bailiff or deputy bailiff of a court of record, and any	383
criminal investigator who is employed by the state public	384
defender.	385

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

386

(a) Is employed by a county, township, or municipal	387
corporation for the purposes set forth in division (B)(2)(b) of	388
this section but who is not an employee of a county sheriff's	389
department, of a township constable, or of the police department	390
of a municipal corporation or township;	391

(b) In the course of the person's employment by a county,	392
township, or municipal corporation, investigates and gathers	393
information pertaining to persons who are suspected of violating	394
Chapter 2925. or 3719. of the Revised Code, and generally does not	395
wear a uniform in the performance of the person's duties.	396

(3) "Crisis intervention training" has the same meaning as in	397
section 109.71 of the Revised Code.	398

(4) "Missing children" has the same meaning as in section	399
2901.30 of the Revised Code.	400

Sec. 111.15.  (A) As used in this section:

401

(1) "Rule" includes any rule, regulation, bylaw, or standard	402
having a general and uniform operation adopted by an agency under	403
the authority of the laws governing the agency; any appendix to a	404
rule; and any internal management rule. "Rule" does not include	405
any guideline adopted pursuant to section 3301.0714 of the Revised	406
Code, any order respecting the duties of employees, any finding,	407
any determination of a question of law or fact in a matter	408
presented to an agency, or any rule promulgated pursuant to	409
Chapter 119., section 4141.14, division (C)(1) or (2) of section	410
5117.02, or section 5703.14 of the Revised Code. "Rule" includes	411
any amendment or rescission of a rule.	412

(2) "Agency" means any governmental entity of the state and	413
includes, but is not limited to, any board, department, division,	414
commission, bureau, society, council, institution, state college	415
or university, community college district, technical college	416
district, or state community college. "Agency" does not include	417
the general assembly, the controlling board, the adjutant	418
general's department, or any court.	419

(3) "Internal management rule" means any rule, regulation,	420
bylaw, or standard governing the day-to-day staff procedures and	421
operations within an agency.	422

(4) "Substantive revision" has the same meaning as in	423
division (J) of section 119.01 of the Revised Code.	424

(B)(1) Any rule, other than a rule of an emergency nature,	425
adopted by any agency pursuant to this section shall be effective	426
on the tenth day after the day on which the rule in final form and	427
in compliance with division (B)(3) of this section is filed as	428
follows:	429

(a) The rule shall be filed in electronic form with both the	430
secretary of state and the director of the legislative service	431
commission;	432

(b) The rule shall be filed in electronic form with the joint	433
committee on agency rule review. Division (B)(1)(b) of this	434
section does not apply to any rule to which division (D) of this	435
section does not apply.	436

An agency that adopts or amends a rule that is subject to	437
division (D) of this section shall assign a review date to the	438
rule that is not later than five years after its effective date.	439
If no review date is assigned to a rule, or if a review date	440
assigned to a rule exceeds the five-year maximum, the review date	441
for the rule is five years after its effective date. A rule with a	442
review date is subject to review under section 119.032 of the	443
Revised Code. This paragraph does not apply to a rule of a state	444
college or university, community college district, technical	445
college district, or state community college.	446

If all filings are not completed on the same day, the rule	447
shall be effective on the tenth day after the day on which the	448
latest filing is completed. If an agency in adopting a rule	449
designates an effective date that is later than the effective date	450
provided for by division (B)(1) of this section, the rule if filed	451
as required by such division shall become effective on the later	452
date designated by the agency.	453

Any rule that is required to be filed under division (B)(1)	454
of this section is also subject to division (D) of this section if	455
not exempted by division (D)(1), (2), (3), (4), (5), (6), (7), or	456
(8) of this section.	457

If a rule incorporates a text or other material by reference,	458
the agency shall comply with sections 121.71 to 121.76 of the	459
Revised Code.	460

(2) A rule of an emergency nature necessary for the immediate	461
preservation of the public peace, health, or safety shall state	462
the reasons for the necessity. The emergency rule, in final form	463
and in compliance with division (B)(3) of this section, shall be	464
filed in electronic form with the secretary of state, the director	465
of the legislative service commission, and the joint committee on	466
agency rule review. The emergency rule is effective immediately	467
upon completion of the latest filing, except that if the agency in	468
adopting the emergency rule designates an effective date, or date	469
and time of day, that is later than the effective date and time	470
provided for by division (B)(2) of this section, the emergency	471
rule if filed as required by such division shall become effective	472
at the later date, or later date and time of day, designated by	473
the agency.	474

An emergency rule becomes invalid at the end of the ninetieth	475
day it is in effect. Prior to that date, the agency may file the	476
emergency rule as a nonemergency rule in compliance with division	477
(B)(1) of this section. The agency may not refile the emergency	478
rule in compliance with division (B)(2) of this section so that,	479
upon the emergency rule becoming invalid under such division, the	480
emergency rule will continue in effect without interruption for	481
another ninety-day period.	482

(3) An agency shall file a rule under division (B)(1) or (2)	483
of this section in compliance with the following standards and	484
procedures:	485

(a) The rule shall be numbered in accordance with the	486
numbering system devised by the director for the Ohio	487
administrative code.	488

(b) The rule shall be prepared and submitted in compliance	489
with the rules of the legislative service commission.	490

(c) The rule shall clearly state the date on which it is to	491
be effective and the date on which it will expire, if known.	492

(d) Each rule that amends or rescinds another rule shall	493
clearly refer to the rule that is amended or rescinded. Each	494
amendment shall fully restate the rule as amended.	495

If the director of the legislative service commission or the	496
director's designee gives an agency notice pursuant to section	497
103.05 of the Revised Code that a rule filed by the agency is not	498
in compliance with the rules of the legislative service	499
commission, the agency shall within thirty days after receipt of	500
the notice conform the rule to the rules of the commission as	501
directed in the notice.	502

(C) All rules filed pursuant to divisions (B)(1)(a) and (2)	503
of this section shall be recorded by the secretary of state and	504
the director under the title of the agency adopting the rule and	505
shall be numbered according to the numbering system devised by the	506
director. The secretary of state and the director shall preserve	507
the rules in an accessible manner. Each such rule shall be a	508
public record open to public inspection and may be transmitted to	509
any law publishing company that wishes to reproduce it.	510

(D) At least sixty-five days before a board, commission,	511
department, division, or bureau of the government of the state	512
files a rule under division (B)(1) of this section, it shall file	513
the full text of the proposed rule in electronic form with the	514
joint committee on agency rule review, and the proposed rule is	515
subject to legislative review and invalidation under division (I)	516
of section 119.03 of the Revised Code. If a state board,	517
commission, department, division, or bureau makes a substantive	518
revision in a proposed rule after it is filed with the joint	519
committee, the state board, commission, department, division, or	520
bureau shall promptly file the full text of the proposed rule in	521
its revised form in electronic form with the joint committee. The	522
latest version of a proposed rule as filed with the joint	523
committee supersedes each earlier version of the text of the same	524
proposed rule. Except as provided in division (F) of this section,	525
a state board, commission, department, division, or bureau shall	526
also file the rule summary and fiscal analysis prepared under	527
section 121.24 or 127.18 of the Revised Code, or both, in	528
electronic form along with a proposed rule, and along with a	529
proposed rule in revised form, that is filed under this division.	530

As used in this division, "commission" includes the public	531
utilities commission when adopting rules under a federal or state	532
statute.	533

This division does not apply to any of the following:

534

(1) A proposed rule of an emergency nature;

535

(2) A rule proposed under section 1121.05, 1121.06, 1155.18,	536
1163.22, 1349.33, 1707.201, 1733.412, 4123.29, 4123.34, 4123.341,	537
4123.342, 4123.40, 4123.411, 4123.44, or 4123.442 of the Revised	538
Code;	539

(3) A rule proposed by an agency other than a board,	540
commission, department, division, or bureau of the government of	541
the state;	542

(4) A proposed internal management rule of a board,	543
commission, department, division, or bureau of the government of	544
the state;	545

(5) Any proposed rule that must be adopted verbatim by an	546
agency pursuant to federal law or rule, to become effective within	547
sixty days of adoption, in order to continue the operation of a	548
federally reimbursed program in this state, so long as the	549
proposed rule contains both of the following:	550

(a) A statement that it is proposed for the purpose of	551
complying with a federal law or rule;	552

(b) A citation to the federal law or rule that requires	553
verbatim compliance.	554

(6) An initial rule proposed by the director of health to	555
impose safety standards, quality-of-care standards, and	556
quality-of-care data reporting requirements with respect to a	557
health service specified in section 3702.11 of the Revised Code,	558
or an initial rule proposed by the director to impose quality	559
standards on a facility listed in division (A)(4) of section	560
3702.30 of the Revised Code, if section 3702.12 of the Revised	561
Code requires that the rule be adopted under this section;	562

(7) A rule of the state lottery commission pertaining to	563
instant game rules.	564

If a rule is exempt from legislative review under division	565
(D)(5) of this section, and if the federal law or rule pursuant to	566
which the rule was adopted expires, is repealed or rescinded, or	567
otherwise terminates, the rule is thereafter subject to	568
legislative review under division (D) of this section.	569

(E) Whenever a state board, commission, department, division,	570
or bureau files a proposed rule or a proposed rule in revised form	571
under division (D) of this section, it shall also file the full	572
text of the same proposed rule or proposed rule in revised form in	573
electronic form with the secretary of state and the director of	574
the legislative service commission. Except as provided in division	575
(F) of this section, a state board, commission, department,	576
division, or bureau shall file the rule summary and fiscal	577
analysis prepared under section 121.24 or 127.18 of the Revised	578
Code, or both, in electronic form along with a proposed rule or	579
proposed rule in revised form that is filed with the secretary of	580
state or the director of the legislative service commission.	581

(F) Except as otherwise provided in this division, the	582
auditor of state or the auditor of state's designee is not	583
required to file a rule summary and fiscal analysis along with a	584
proposed rule, or proposed rule in revised form, that the auditor	585
of state proposes under section 117.12, 117.19, 117.38, or 117.43	586
of the Revised Code and files under division (D) or (E) of this	587
section. If, however, the auditor of state or the designee	588
prepares a rule summary and fiscal analysis of the original	589
version of such a proposed rule for purposes of complying with	590
section 121.24 of the Revised Code, the auditor of state or	591
designee shall file the rule summary and fiscal analysis in	592
electronic form along with the original version of the proposed	593
rule filed under division (D) or (E) of this section.	594

Sec. 119.01.  As used in sections 119.01 to 119.13 of the	595
Revised Code:	596

(A)(1) "Agency" means, except as limited by this division,	597
any official, board, or commission having authority to promulgate	598
rules or make adjudications in the civil service commission, the	599
division of liquor control, the department of taxation, the	600
industrial commission, the bureau of workers' compensation, the	601
functions of any administrative or executive officer, department,	602
division, bureau, board, or commission of the government of the	603
state specifically made subject to sections 119.01 to 119.13 of	604
the Revised Code, and the licensing functions of any	605
administrative or executive officer, department, division, bureau,	606
board, or commission of the government of the state having the	607
authority or responsibility of issuing, suspending, revoking, or	608
canceling licenses.	609

Except as otherwise provided in division (I) of this section,	610
sections 119.01 to 119.13 of the Revised Code do not apply to the	611
public utilities commission. Sections 119.01 to 119.13 of the	612
Revised Code do not apply to the utility radiological safety	613
board; to the controlling board; to actions of the superintendent	614
of financial institutions and the superintendent of insurance in	615
the taking possession of, and rehabilitation or liquidation of,	616
the business and property of banks, savings and loan associations,	617
savings banks, credit unions, insurance companies, associations,	618
reciprocal fraternal benefit societies, and bond investment	619
companies; to any action taken by the division of securities under	620
section 1707.201 of the Revised Code; or to any action that may be	621
taken by the superintendent of financial institutions under	622
section 1113.03, 1121.05, 1121.06, 1121.10, 1125.09, 1125.12,	623
1125.18, 1155.18, 1157.01, 1157.02, 1157.10, 1163.22, 1165.01,	624
1165.02, 1165.10, 1349.33, 1733.35, 1733.361, 1733.37, 1733.412,	625
or 1761.03 of the Revised Code.	626

Sections 119.01 to 119.13 of the Revised Code do not apply to	627
actions of the industrial commission or the bureau of workers'	628
compensation under sections 4123.01 to 4123.94 of the Revised Code	629
with respect to all matters of adjudication, and to the actions of	630
the industrial commission and bureau of workers' compensation	631
under division (D) of section 4121.32 and, sections 4123.29,	632
4123.34, 4123.341, 4123.342, 4123.40, 4123.411, 4123.44, and	633
4123.442, and divisions (B), (C), and (E) of section 4131.14 of	634
the Revised Code.	635

(2) "Agency" also means any official or work unit having	636
authority to promulgate rules or make adjudications in the	637
department of job and family services, but only with respect to	638
both of the following:	639

(a) The adoption, amendment, or rescission of rules that	640
section 5101.09 of the Revised Code requires be adopted in	641
accordance with this chapter;	642

(b) The issuance, suspension, revocation, or cancellation of	643
licenses.	644

(B) "License" means any license, permit, certificate,	645
commission, or charter issued by any agency. "License" does not	646
include any arrangement whereby a person, institution, or entity	647
furnishes medicaid services under a provider agreement with the	648
department of job and family services pursuant to Title XIX of the	649
"Social Security Act," 49 Stat. 620 (1935), 42 U.S.C. 301, as	650
amended.	651

(C) "Rule" means any rule, regulation, or standard, having a	652
general and uniform operation, adopted, promulgated, and enforced	653
by any agency under the authority of the laws governing such	654
agency, and includes any appendix to a rule. "Rule" does not	655
include any internal management rule of an agency unless the	656
internal management rule affects private rights and does not	657
include any guideline adopted pursuant to section 3301.0714 of the	658
Revised Code.	659

(D) "Adjudication" means the determination by the highest or	660
ultimate authority of an agency of the rights, duties, privileges,	661
benefits, or legal relationships of a specified person, but does	662
not include the issuance of a license in response to an	663
application with respect to which no question is raised, nor other	664
acts of a ministerial nature.	665

(E) "Hearing" means a public hearing by any agency in	666
compliance with procedural safeguards afforded by sections 119.01	667
to 119.13 of the Revised Code.	668

(F) "Person" means a person, firm, corporation, association,	669
or partnership.	670

(G) "Party" means the person whose interests are the subject	671
of an adjudication by an agency.	672

(H) "Appeal" means the procedure by which a person, aggrieved	673
by a finding, decision, order, or adjudication of any agency,	674
invokes the jurisdiction of a court.	675

(I) "Rule-making agency" means any board, commission,	676
department, division, or bureau of the government of the state	677
that is required to file proposed rules, amendments, or	678
rescissions under division (D) of section 111.15 of the Revised	679
Code and any agency that is required to file proposed rules,	680
amendments, or rescissions under divisions (B) and (H) of section	681
119.03 of the Revised Code. "Rule-making agency" includes the	682
public utilities commission. "Rule-making agency" does not include	683
any state-supported college or university.	684

(J) "Substantive revision" means any addition to, elimination	685
from, or other change in a rule, an amendment of a rule, or a	686
rescission of a rule, whether of a substantive or procedural	687
nature, that changes any of the following:	688

(1) That which the rule, amendment, or rescission permits,	689
authorizes, regulates, requires, prohibits, penalizes, rewards, or	690
otherwise affects;	691

(2) The scope or application of the rule, amendment, or	692
rescission.	693

(K) "Internal management rule" means any rule, regulation, or	694
standard governing the day-to-day staff procedures and operations	695
within an agency.	696

Sec. 1121.05.  (A) Notwithstanding any provisions of the	697
Revised Code, except as provided in division (E) of this section,	698
the superintendent of financial institutions mayshall, by rule,	699
grant banks doing business under authority granted by the	700
superintendent any right, power, privilege, or benefit possessed,	701
by virtue of statute, rule, regulation, interpretation, or	702
judicial decision, by any of the following:	703

(1) Banks doing business under authority granted by the	704
comptroller of the currency or the bank regulatory authority of	705
any other state of the United States;	706

(2) Savings associations doing business under authority	707
granted by the superintendent of financial institutions, office of	708
thrift supervision, or the savings and loan association regulatory	709
authority of any other state of the United States;	710

(3) Savings banks doing business under authority granted by	711
the superintendent of financial institutions or the savings bank	712
regulatory authority of any other state of the United States;	713

(4) Credit unions doing business under authority granted by	714
the superintendent of financial institutions, the national credit	715
union administration, or the credit union regulatory authority of	716
any other state of the United States;	717

(5) Any other banks, savings associations, or credit unions	718
with a principal place of business in the United States doing	719
business under authority granted under laws of the United States;	720

(6) Any other persons having an office or other place of	721
business in this state and engaging in the business of lending	722
money, or buying or selling bullion, bills of exchange, notes,	723
bonds, stocks, or other evidences of indebtedness with a view to	724
profit;	725

(7) Small business investment companies licensed under the	726
"Small Business Investment Company Act of 1958," 72 Stat. 689, 15	727
U.S.C. 661, as amended;	728

(8) Persons chartered under the "Farm Credit Act of 1933," 48	729
Stat. 257, 12 U.S.C. 1131(d), as amended.	730

(B) The superintendent shall adopt rules authorized by	731
division (A) of this section in accordance with section 111.15 of	732
the Revised Code. Chapter 119 of the Revised Code does not apply	733
to rules adopted under the authority of this section.	734

(C) A rule adopted by the superintendent pursuant to the	735
authority of this section becomes effective on the later of the	736
following dates:	737

(1) The date the superintendent issues the rule;

738

(2) The date the statute, rule, regulation, interpretation,	739
or judicial decision the superintendent's rule is based on becomes	740
effective.	741

(D) The superintendent may, upon thirty days' written notice,	742
revoke any rule adopted under the authority of this section. A	743
rule adopted under the authority of this section, and not revoked	744
by the superintendent, enacted into law, or adopted in accordance	745
with Chapter 119. of the Revised Code, lapses and has no further	746
force and effect thirty months after its effective date; however,	747
the superintendent may adopt the rule under section 111.15 of the	748
Revised Code pursuant to this section for an additional	749
thirty-month period.	750

(E) The superintendent shall not adopt any rule dealing with	751
interest rates charged under the authority of this section.	752

Sec. 1155.18.  Notwithstanding any provision of the Revised	753
Code, if federal savings and loan associations organized under the	754
"Home Owners Loan Act of 1933," 48 Stat. 128,12 U.S.C. 1461, and	755
amendments thereto, the home offices of which are located in this	756
state, shall possess a right, power, privilege, or benefit by	757
virtue of statute, rule, regulation, judicial decision, or other	758
administrative process or will possess such right, power,	759
privilege, or benefit by virtue of a statute, rule, regulation, or	760
other administrative process issued but not effective, which	761
right, power, privilege, or benefit is not possessed by a building	762
and loan association organized under the laws of this state, the	763
superintendent of building and loan associations mayshall, by	764
rule adopted in accordance with section 111.15 of the Revised	765
Code, authorize building and loan associations organized under the	766
laws of this state to exercise such right, power, privilege, or	767
benefit. A rule so adopted and promulgated by the superintendent	768
shall become effective on the date of its issuance but if such	769
rule is issued by the superintendent in anticipation of a federal	770
rule or regulation which has been issued but has not then become	771
effective, the effective date of the superintendent's rule shall	772
be the later date on which the federal rule or regulation becomes	773
effective, provided that if. If such rule adopted and promulgated	774
by the superintendent is not enacted into law or adopted in	775
accordance with Chapter 119. of the Revised Code within thirty	776
months from the date such rule is issued by the superintendent,	777
such rule shall thereupon no longer be of any force or effect;	778
however, the superintendent may adopt the rule under section	779
111.15 of the Revised Code pursuant to this section for an	780
additional thirty-month period. The superintendent of building and	781
loan associations may upon thirty days' written notice to domestic	782
building and loan associations revoke any rule issued by virtue of	783
the authority of this section.	784

Sec. 1163.22.  Notwithstanding any provision in the Revised	785
Code, if any bank or savings and loan association, the principal	786
place of business of which is located in this state, possesses a	787
right, power, privilege, or benefit by virtue of statute, rule, or	788
judicial decision or will possess that right, power, privilege, or	789
benefit by virtue of a rule or regulation issued but not	790
effective, which right, power, privilege, or benefit is not	791
possessed by a savings bank organized under the laws of this	792
state, the superintendent of savings banks mayshall, by rule	793
adopted in accordance with section 111.15 of the Revised Code,	794
authorize savings banks organized under the laws of this state to	795
exercise that right, power, privilege, or benefit. A rule so	796
adopted and promulgated by the superintendent becomes effective on	797
the date of its issuance but if the rule is issued by the	798
superintendent in anticipation of a federal rule or regulation	799
that has been issued but has not then become effective, the	800
effective date of the superintendent's rule is the later date on	801
which the federal rule or regulation becomes effective, provided	802
that if. If the rule adopted and promulgated by the superintendent	803
is not enacted into law or adopted in accordance with Chapter 119.	804
of the Revised Code within thirty months from the date the rule is	805
issued by the superintendent, the rule shall thereupon no longer	806
be of any force or effect; however, the superintendent may adopt	807
the rule under section 111.15 of the Revised Code pursuant to this	808
section for an additional thirty-month period. The superintendent	809
may upon thirty days' written notice revoke any rule issued by	810
virtue of the authority of this section.	811

Sec. 1317.01.  As used in this chapter:

812

(A) "Retail installment sale" includes every retail	813
installment contract to sell specific goods, every consumer	814
transaction in which the cash price may be paid in installments	815
over a period of time, and every retail sale of specific goods to	816
any person in which the cash price may be paid in installments	817
over a period of time. "Retail installment sale" does not include	818
a lease-purchase agreement as defined in division (F) of section	819
1351.01 of the Revised Code nor a layaway arrangement as defined	820
in division (S) of this section.	821

(B) "Person" includes an individual, corporation, trust,	822
partnership of two or more persons having a joint or common	823
interest, and any other association.	824

(C)(1) "Goods" means all things, including specially	825
manufactured goods but not including the money in which the price	826
is to be paid or things in action, that satisfy both of the	827
following:	828

(a) They are movable at the time of identification for sale	829
or identification to the contract for sale;	830

(b) They are purchased primarily for personal, family, or	831
household purposes.	832

(2) Nothing in division (C)(1) of this section shall be	833
construed to exempt transactions involving items purchased for	834
other than primarily personal, family, or household purposes from	835
sections 2905.21 to 2905.24 of the Revised Code.	836

(D) "Specific goods" means goods, including related services,	837
identified and agreed upon at the time a contract to sell or a	838
sale is made.	839

(E) "Retail" means to dispose of specific goods to, or to	840
acquire specific goods by, a person for use other than for	841
purposes of resale.	842

(F) "Buyer" means a person whothat buys or agrees to buy	843
goods or any legal successor in interest of such person.	844

(G) "Retail buyer" means a buyer whothat is a party to a	845
retail installment sale, or any legal successor in interest of	846
such person.	847

(H) "Seller" means a person who sells or agrees to sell	848
goods.	849

(I) "Retail seller" means a seller whothat is a party to a	850
retail installment sale.	851

(J) "Holder of the retail installment contract" means any	852
person to whomwhich the money owed by the retail buyer on the	853
retail installment contract has been paid.	854

(K) "Cash price" means the price measured in dollars, agreed	855
upon in good faith by the parties as the price at which the	856
specific goods which are the subject matter of any retail	857
installment sale would be sold if such sale were a sale for cash	858
to be paid upon delivery instead of a retail installment sale.	859
"Cash price" may include sales taxes.	860

(L) "Retail installment contract" means any written	861
instrument that is executed in connection with any retail	862
installment sale and is required by section 1317.02 of the Revised	863
Code or is authorized by section 1317.03 of the Revised Code, and	864
includes all such instruments executed in connection with any	865
retail installment sale.	866

(M) "Contract for sale" and "sale" have the same meanings as	867
in section 1302.01 of the Revised Code; and "security agreement"	868
has the same meaning as in section 1309.102 of the Revised Code.	869

(N) "Finance charge" means the amount that the retail buyer	870
pays or contracts to pay the retail seller for the privilege of	871
paying the principal balance in installments over a period of	872
time. Any advancement in the cash price ordinarily charged by the	873
retail seller is a finance charge when a retail installment sale	874
is made.	875

(O) "Service charge" means the amount that the retail buyer	876
pays or contracts to pay the retail seller for the privilege of	877
paying the principal balance in installments over a period of time	878
in addition to the finance charge for the same privilege.	879

(P) "Consumer transaction" means a sale, lease, assignment,	880
or other transfer of an item of goods, or a service, except those	881
transactions between persons, defined in sections 4905.03 and	882
5725.01 of the Revised Code, and their customers, or between	883
attorneys or physicians and their clients or patients, to an	884
individual for purposes that are primarily personal, family, or	885
household. For the purposes of this chapter only, a "consumer	886
transaction" does not include a lease-purchase agreement.	887

(Q) "Purchase money loan" means a cash advance that is	888
received by a consumer from a creditor in return for a finance	889
charge within the meaning of the "Truth in Lending Act," 82 Stat.	890
146 (1968), 15 U.S.C.A. 1601 and regulation Z thereunder, which is	891
applied in whole or substantial part to a consumer transaction	892
with a seller, whothat either:	893

(1) Cooperates with the creditor to channel consumers to the	894
creditor on a continuing basis;	895

(2) Is affiliated with the creditor by common control,	896
contract, or business arrangement.	897

If a credit card issued by a bank or a, savings and loan	898
association, savings bank, or credit union is used by a consumer	899
in a particular consumer transaction, the bank or, savings and	900
loan association, savings bank, or credit union is not a creditor,	901
within the meaning of this division, with respect to the	902
particular consumer transaction.	903

(R) "Dealer" and "motor vehicle" have the same meanings as in	904
section 4501.01 of the Revised Code.	905

(S)(1) "Layaway arrangement" means a contract for sale at	906
retail, other than one involving the sale of a motor vehicle by a	907
dealer, in which the buyer agrees to buy and the seller agrees to	908
sell specific goods at a future time and both of the following	909
apply:	910

(a) Until such future time, the seller agrees to retain	911
possession of but remove the specific goods from its retail	912
inventory and not offer the specific goods for sale to other	913
persons or promises the availability thereof at the agreed time of	914
delivery; and	915

(b) The buyer agrees to pay the seller the layaway price, in	916
whole or in part, by deposit, down payment, part payment,	917
periodically or in installments or otherwise prior to delivery of	918
the specific goods.	919

(2) A layaway arrangement does not include interest or	920
equivalent financing charges. If a contract of sale is a layaway	921
arrangement, it is not a retail installment sale, and it is not a	922
contract subject to Chapter 1309. or sections 1351.02 to 1351.09	923
or 1317.02 to 1317.16 of the Revised Code.	924

(T) "Layaway price" means the price at which the specific	925
goods whichthat are the subject of a layaway arrangement are	926
offered for sale at retail by the seller if such sale were a sale	927
for cash to be paid in full upon delivery on the date the layaway	928
arrangement was entered into instead of pursuant to a layaway	929
arrangement. Layaway price may include sales taxes.	930

Sec. 1733.04.  (A) In addition to the authority conferred by	931
section 1701.13 of the Revised Code, but subject to any	932
limitations contained in sections 1733.01 to 1733.45 of the	933
Revised Code, and its articles and regulations, a credit union may	934
do any of the following:	935

(1) Make loans as provided in section 1733.25 of the Revised	936
Code;	937

(2) Invest its money as provided in section 1733.30 of the	938
Revised Code;	939

(3) If authorized by the code of regulations, rebate to the	940
borrowing members a portion of the member's interest paid to the	941
credit union;	942

(4) If authorized by the regulations, charge a membership or	943
entrance fee not to exceed one dollar per member;	944

(5) Purchase group savings life insurance and group credit	945
life insurance;	946

(6) Make reasonable contributions to any nonprofit civic,	947
charitable, or service organizations;	948

(7) Act as trustee or custodian, for which reasonable	949
compensation may be received, under any written trust instrument	950
or custodial agreement created or organized in the United States	951
and forming part of a tax-advantaged savings plan that qualifies	952
for specific tax treatment under sections 223, 401(d), 408, 408A,	953
and 530 of the Internal Revenue Code, 26 U.S.C. 223, 401(d), 408,	954
408A, and 530, as amended, for its members or groups of its	955
members, provided that the funds of such plans are invested in	956
share accounts or share certificate accounts of the credit union.	957
These services include, but are not limited to, acting as a	958
trustee or custodian for member retirement, education, or health	959
savings accounts.	960

(B) The authority of a credit union shall be subject to the	961
following restrictions:	962

(1) A credit union may not borrow money in excess of	963
twenty-five per cent of its shares and undivided earnings, without	964
prior specific authorization by the superintendent of credit	965
unions.	966

(2) A credit union may not pay a commission or other	967
compensation to any person for securing members or for the sale of	968
its shares, except that reasonable incentives may be made	969
available directly to members or potential members to promote	970
thrift.	971

(3) A credit union, subject to the approval of the	972
superintendent, may have service facilities other than its home	973
office.	974

(4) No realReal estate shallmay be acquired by lease,	975
purchase, or otherwise excepting as necessary and to the extent	976
required for use of the credit union presently and in the future	977
operation of its office or headquarters, and in case of a purchase	978
of real estate, written approval of the superintendent must first	979
be obtainednotified in writing prior to the purchase of the real	980
estate. The superintendent shall notify the credit union not more	981
than thirty days after receipt of the notification to purchase the	982
real estate if the purchase is denied, approved, or modified. If	983
the superintendent does not respond within thirty days after	984
receipt of the notification to purchase the real estate, it shall	985
be deemed approved. Nothing herein contained shall be deemed to	986
prohibit a credit union from taking title to real estate in	987
connection with a default in the payment of a loan, provided that	988
title to such real estate shall not be held by the credit union	989
for more than two years without the prior written approval of the	990
superintendent. A credit union also may lease space in any real	991
estate it acquires in accordance with rules adopted by the	992
superintendent.	993

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

994

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

995

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

996

(c) "Student branch" means the designation provided to the	997
credit union for the in-school services and financial education	998
offered to students.	999

(2) A credit union, upon agreement with a school board, in	1000
the case of a public school, or the governing authority, in the	1001
case of a nonpublic school, and with the permission of the	1002
superintendent, may open and maintain a student branch.	1003

(3) Notwithstanding any other provision of this section, any	1004
student enrolled in the school maintaining a student branch who is	1005
not otherwise qualified for membership in the credit union	1006
maintaining the student branch is qualified to be a member of that	1007
student branch.	1008

(4) The student's membership in the student branch expires	1009
upon the student's graduation from secondary school.	1010

(5) The student branch is for the express use of students and	1011
may not be used by faculty, staff, or lineal ancestors or	1012
descendents of students.	1013

(6) Faculty, staff, or lineal ancestors or descendents of	1014
students are not eligible for membership in the credit union	1015
maintaining the student branch unless otherwise qualified by this	1016
section to be members.	1017

(7) The superintendent may adopt rules appropriate to the	1018
formation and operation of student branches.	1019

(D) A credit union may guarantee the signature of a member in	1020
connection with a transaction involving tangible or intangible	1021
property in which a member has or seeks to acquire an interest.	1022

Sec. 1733.16.  Unless otherwise provided in the articles,	1023
regulations, or bylaws, and subject to the exceptions applicable	1024
during an emergency, as that term is defined in section 1733.01 of	1025
the Revised Code:	1026

(A) Meetings of the directors may be called by the chairman	1027
of the boardchairperson, thevice-chairperson, president, or any	1028
vice-president,of the board or any two directors.	1029

(B) Meetings of the directors may be held within or without	1030
the state. Unless the articles or regulations prohibit	1031
participation by directors at a meeting by means of communication	1032
equipment, meetings of the directors may be held through any	1033
communication equipment if all the persons participating can hear	1034
each other, and participation in the meeting pursuant to this	1035
division constitutes presence at the meeting.	1036

(C) Notice of the time and place, if any, and time of each	1037
meeting of the directors shall be given to each director at the	1038
time and in the mannereither by personal delivery or by mail,	1039
telegram, cablegram, overnight delivery service, or any other	1040
means of communication authorized by the director at least two	1041
days before the meeting, unless otherwise specified in the	1042
regulations or bylaws. The notice described in this division need	1043
not specify the purpose of the meeting.	1044

(D) Notice of adjournment of a meeting need not be given, if	1045
the time and place to which it is adjourned are fixed and	1046
announced at the meeting.	1047

Sec. 1733.22. (A) No officer, director, or employee of any	1048
credit union shall receive any commission, salary, or other	1049
emolument for services arising out of histhe officer's,	1050
director's, or employee's association with the credit union except	1051
per diem, wages, or salary which hethe officer, director, or	1052
employee receives, subject to rules adopted under section 1733.411	1053
of the Revised Code, as compensation for his services to the	1054
credit union.	1055

(B) No director or member of any committee shall receive any	1056
compensation for his services as such, but; however, unless	1057
otherwise provided in the articles or regulations, shall bea	1058
credit union may provide, at its expense, a director or committee	1059
member reasonable health, accident, and related types of personal	1060
insurance protection. A director or committee member is entitled,	1061
subject to rules adopted under section 1733.411 of the Revised	1062
Code and when so authorized by the board of directors, to	1063
reimbursement for histhe director's or committee member's	1064
expenses incurred in connection with the business of the credit	1065
union.	1066

Sec. 1733.24.  (A) A credit union is authorized to receive	1067
funds for deposit in share accounts, share draft accounts, and	1068
share certificates from its members, from other credit unions, and	1069
from an officer, employee, or agent of the federal, state, or	1070
local governments, or political subdivisions of the state, in	1071
accordance with such terms, rates, and conditions as may be	1072
established by its board of directors.	1073

(B) The shares and share accounts of the credit union may be	1074
of one or more classes, as designated by the board of directors,	1075
subject to approval of the superintendent of credit unions based	1076
on rules that shall assure equitable distribution of dividends	1077
among classes, considering costs and advantages of each class to	1078
the members of the credit union, including without limitation	1079
special services rendered, length of ownership, minimum	1080
investment, conditions of repurchase, and other appropriate	1081
standards or combinations thereof. In the event the articles of	1082
incorporation of the credit union indicate the authorized number	1083
of shares to be unlimited, the designation of classification of	1084
shares and share acountsaccounts of the credit union may be	1085
effected by the board of directors, subject to the approval of the	1086
superintendent, and does not require amendment of the articles of	1087
incorporation. All shares of the credit union shall have a par	1088
value per share as set by the board of directors. Redemptions and	1089
liquidating dividends shall be prorated to each member on the	1090
basis of the price paid the credit union for such share,	1091
irrespective of the class of such shares.	1092

(C)(1) Each credit union shall have one clsssclass of shares	1093
designated as "membership share." The membership shares, or if a	1094
credit union has but one class of shares, then all of the shares	1095
of the credit union, shall have a par value as set by the board of	1096
directors.	1097

(2) Two or more persons that are eligible for membership that	1098
have jointly subscribed for one or more shares under a joint	1099
account each may be admitted to membership.	1100

(D) A credit union need not issue certificates for any or all	1101
of its classes of shares but irrespective of whether certificates	1102
are issued, a registry of shares must be kept, including all of	1103
the transactions of saidthe credit union pertaining to such	1104
shares.	1105

(E) A credit union is authorized to maintain share draft	1106
accounts in accordance with rules prescribed by the	1107
superintendent. The credit union may pay dividends on share draft	1108
accounts, may pay dividends at different rates on different types	1109
of share draft accounts, and may permit the owners of such share	1110
draft accounts to make withdrawals by negotiable or transferable	1111
instruments or other orders for the purpose of making transfers to	1112
third parties.	1113

(F) Unless otherwise provided by written agreement of the	1114
parties, the rights, responsibilities, and liabilities attaching	1115
to a share draft withdrawn from, transferred to, or otherwise	1116
handled by a credit union are defined in and governed by Chapters	1117
1303. and 1304. of the Revised Code, as if the credit union were a	1118
bank.	1119

(G) Unless otherwise provided in the articles or regulations,	1120
a member may designate any person or persons to own or hold	1121
shares, or share accounts with himthe member in joint tenancy	1122
with right of survivorship and not as tenants in common.	1123

(H) Shares or share accounts may be issued in the name of a	1124
custodian under the Ohio transfers to minors act or, a member in	1125
trust for a beneficiary, a fiduciary or custodian in trust for a	1126
member beneficiary, or a fiduciary or custodian in trust upon the	1127
death of a member. Redemption of such shares or payment of such	1128
share accounts to sucha member shall, to the extent of suchthe	1129
payment, dischargedischarges the liability of the credit union to	1130
the member and the beneficiary;, and the credit union shall be	1131
under no obligation to see to the application of suchthe payment.	1132
Unless prior to the death of sucha member, he shall havethe	1133
member has notified the credit union in writing in a form approved	1134
by the credit union of a different beneficiary to receive the	1135
proceeds of such shares or share accounts, then suchthe proceeds	1136
shall be paid to the beneficiary or to histhe beneficiary's	1137
parent or legal representative. Any payment made pursuant to	1138
written instructions of the member or pursuant to the provisions	1139
herein contained shall be a valid and sufficient release and	1140
discharge of the credit union in connection with any such share or	1141
share accounts.	1142

(I)(1) Except as otherwise provided in the articles or	1143
regulations, and subject to the provisions thereof, a minor may	1144
purchase shares or, share accounts, or other depository	1145
instruments, and except for qualification as a voting member, the	1146
credit union may deal with suchthe minor with respect to shares	1147
or, share accounts, or other depository instruments owned by him	1148
the minor as if hethe minor were a person of legal age.	1149

(2) If shares, share accounts, or other depository	1150
instruments are issued in the name of a minor, redemption of any	1151
part or all of the shares or withdrawal of funds by payment to the	1152
minor of the shares or funds and any declared dividends or	1153
interest releases the credit union from all obligation to the	1154
minor as to the shares reduced or funds withdrawn.	1155

(J) The regulations may require advance written notice of a	1156
member's intention to withdraw histhe member's shares. Such	1157
advance notice shall not exceed sixty days.	1158

Sec. 1733.25.  (A) A credit union may make loans or other	1159
extensions of credit to members for provident and productive	1160
purposes as authorized by law, including rules adopted by the	1161
superintendent of credit unions; the articles,; and the	1162
regulations,; and subject to policies adopted by the credit	1163
committee and approved by the board of directors.	1164

(B) Upon the approval of the board of directors, a credit	1165
union may make loans or other extensions of credit to other credit	1166
unions, provided that loans or other extensions of credit made to	1167
other credit unions need not have the approval of the board of	1168
directors on a per case basis. The total of all such loans or	1169
other extensions of credit, including the aggregate of all money	1170
paid into any trust established by one or more credit unions for	1171
the purpose of making loans or other extensions of credit to other	1172
credit unions, shall not exceed twenty-five per cent of the shares	1173
and undivided earnings of the lending credit union, except that	1174
this percentage limitation does not apply to corporate credit	1175
unions.	1176

(C) The interest on any loan or other extension of credit	1177
made by a credit union shall not exceed one and one-half per cent	1178
per month on unpaid balances. Such interest may accrue and be	1179
chargeable upon a monthly basis, and may be computed upon the	1180
unpaid balance of the loan or other extension of credit as of the	1181
end of the previous calendar month.	1182

Such interest may be accrued and charged by any technique	1183
approved by the superintendent of credit unions so long as the	1184
effective interest rate on any loan or other extension of credit	1185
does not exceed the amount permitted to be charged by the	1186
computation authorized in this division.	1187

(D) A credit union may accept security in such form and under	1188
such rules as shall be set forth in the articles, the regulations,	1189
or established by the credit committee and approved by the board	1190
of directors.	1191

(E) The total loans to association members shall not exceed	1192
ten per cent of the shares and undivided earnings or the total	1193
value of shares pledged by association members as security for	1194
loans, whichever is greater(1) The credit union shall have a lien	1195
on the membership share, shares, deposits, and accumulated	1196
dividends and interest of a member in an individual, joint, trust,	1197
or payable on death account for any obligation owed to the credit	1198
union by that member or for any loan co-signed or guaranteed by	1199
the member or account holder; provided, however, that a credit	1200
union shall not have a lien upon the funds in an individual	1201
retirement account or an account established pursuant to the	1202
Internal Revenue Code of the United States.	1203

(2) A credit union may refuse to allow withdrawals from any	1204
share or deposit account by a member while the member has any	1205
outstanding obligation to the credit union.	1206

(F) Notwithstanding any limitation provided in any other	1207
provision of this chapter or Chapter 1343. of the Revised Code, a	1208
credit union may enter into a loan agreement with a member in	1209
accordance with all of the following:	1210

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

1211

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

1212

(3) The credit union may charge a fee in addition to any	1213
interest authorized by law in connection with the loan, which fee	1214
is not to be included in the computation of interest for any	1215
provision of the Revised Code, including division (C) of this	1216
section, that prescribes, regulates, or limits interest charged,	1217
collected, or received in connection with a transaction.	1218

(4) The total interest, fees, and other costs of the loan	1219
does not exceed ten per cent of the principal amount.	1220

(5) A member shall not have more than one loan under division	1221
(F) of this section outstanding at any one time with the credit	1222
union.	1223

(6) The loan is not being made to a member for purposes of	1224
retiring an existing loan between the credit union and that	1225
member, which existing loan was made pursuant to division (F) of	1226
this section.	1227

Sec. 1733.251. (A) As an alternative to the interest	1228
permitted in division (C) of section 1733.25 of the Revised Code,	1229
a credit union may contract for and receive interest at any rate	1230
or rates agreed upon or consented to by the parties to the loan	1231
contract for the loan or other extension of credit, but not	1232
exceeding an annual percentage rate of twenty-five per cent.	1233

(B) The computation of the loan or other extension of credit	1234
balance on which interest is assessed and the method of	1235
compounding interest on the balance pursuant to this section shall	1236
be as agreed upon by the credit union and the member.	1237

Sec. 1733.29.  (A) A credit union shall keep a permanent	1238
record including:	1239

(1) The original articles and regulations and amendments	1240
thereto and any amended articles or regulations and amendments	1241
thereto, all bearing the approval of the superintendent of credit	1242
unions, and the articles shall bear the certification of the	1243
secretary of state;	1244

(2) The minutes of the incorporators, members, and board of	1245
directors.	1246

(B) A credit union shall keep for a period of not less than	1247
six years the minutes of all committees of the board.	1248

(C) A credit union shall keep and maintain such financial	1249
records as the superintendent shall stipulate in rules issued by	1250
himthe superintendent, which shall also include the minimum	1251
length of time such records must be retained.	1252

(D) A credit union shall maintain an alphabetical listing or	1253
classified listing of the addresses of members of the credit	1254
union.	1255

(E) A credit union shall keep suchany other records of its	1256
business and transactions and maintain the authorized processes	1257
for recording or storing documents or instruments, as may be	1258
required by rules promulgated by the superintendent.	1259

(F) A credit union may keep documents in electronic form if,	1260
in the regular course of business, a credit union possesses,	1261
records, or generates any document, representation, image,	1262
reproduction, or combination thereof, of any agreement,	1263
transaction, act, occurrence, or event, then the recording,	1264
comprising, or reproduction shall have the same force and effect	1265
as one comprised, recorded, or created on paper or other tangible	1266
form by writing, typing, printing, or similar means.	1267

(G)(1) A credit union may make use of digital signatures in	1268
any communication, acknowledgment, agreement, or contract between	1269
a credit union and its member or any other person, in which a	1270
signature is required or used.	1271

(2)(a) Any party to the communication, acknowledgment,	1272
agreement, or contract may affix a signature by use of a digital	1273
signature.	1274

(b) The digital signature, when lawfully used by the person	1275
whose signature it purports to be, shall have the same force and	1276
effect as the use of a manual signature if it is unique to the	1277
person using it, is capable of verification, is under the sole	1278
control of the person using it, and is linked to data in such a	1279
manner that if the data are changed, the digital signature is	1280
invalidated.	1281

(c) Nothing in this section requires any credit union to use	1282
or permit the use of a digital signature.	1283

(d) As used in division (G) of this section, "digital	1284
signature" means an encrypted electronic identifier, created by	1285
computer, intended by the party using it to have the same force	1286
and effect as the use of a manual signature.	1287

(H) Recordings, copies, photographic images, or stored	1288
representations of original documents, papers, or other	1289
instruments or records made in accordance with this section, or	1290
reproductions of original documents, papers, or other instruments	1291
or records produced from recordings, copies, photographic images,	1292
or stored representations made in accordance with this section,	1293
when properly identified by the officer by whom or under whose	1294
supervision they were made or who has custody of them, have the	1295
same effect at law as the original records or records made by any	1296
other legally authorized means. They may be offered in the same	1297
manner and shall be received in evidence in any court where the	1298
original records, or records made by other legally authorized	1299
means, could have been introduced and received. Certified or	1300
authenticated duplicates of recordings, copies, photographic	1301
images, or stored representations of original documents, papers,	1302
or other instruments or records made in accordance with this	1303
section, or of reproductions of original documents, papers, or	1304
other instruments or records produced from recordings, copies,	1305
photographic images, or stored representations made in accordance	1306
with this section, shall be admitted in evidence in the same	1307
manner as the original documents, papers, or other instruments or	1308
records.	1309

Sec. 1733.30.  (A) A credit union may make any investment of	1310
any funds not required for the purpose of loans, in state or	1311
national banks;or state or federally chartered savings and loan	1312
associations or, savings banks, or credit unions, doing business	1313
in this state; in accounts, deposits, or shares of federally	1314
insured savings and loan associations or savings banks or insured	1315
credit unions, doing business outside this state; in deposits or	1316
accounts of federally insured banks, trust companies, and mutual	1317
savings banks doing business outside this state; in the shares of	1318
a corporate credit union subject to the regulations of that	1319
corporate credit union; in shares, stocks, or obligations of any	1320
other organization providing services that are associated with the	1321
routine operations of credit unions; or in United States	1322
government securities or municipal bonds issued by municipalities	1323
of this state; and, with the approval of the superintendent of	1324
credit unions, in securities other than those specified in this	1325
division. All investments under this division shall be made in	1326
United States dollars.	1327

(B) In accordance with rules adopted by, and subject to the	1328
approval of, the superintendent, notes or loans made by or to	1329
individual members of a credit union may be purchased by another	1330
credit union at such prices as may be agreed upon between the	1331
credit unions.	1332

(C) A corporate credit union may make investments provided	1333
the investments are in accordance with rules adopted by the	1334
superintendent, are consistent with the safety and soundness of	1335
the credit union, and are made with due regard to the investment	1336
requirements established by the applicable insurer recognized	1337
under section 1733.041 of the Revised Code.	1338

Sec. 1733.31.  For purposes of this section, "gross income"	1339
means all income, before expenses, earned on risk assets. "Risk	1340
assets" shall be defined by rule adopted by the superintendent of	1341
credit unions.	1342

Each credit union shall establish and maintain reserves as	1343
required by Chapter 1733. of the Revised Code, or by rules adopted	1344
by the superintendent, including the following:	1345

(A) Valuation allowances for delinquent loans, investments,	1346
other risk assets, and contingencies, which shall be established	1347
and maintained pursuant to rules adopted adopted by the	1348
superintendent.	1349

(B) A regular reserve as follows:

1350

(1) A credit union in operation for more than four years and	1351
having assets of five hundred thousand dollars or more shall	1352
reserve ten per cent of its gross income until its regular reserve	1353
equals four per cent of its total risk assets. Once the credit	1354
union has regular reserves equal to four per cent of its total	1355
risk assets, it shall reserve five per cent of its gross income	1356
until its regular reserve equals six per cent of its total risk	1357
assets.	1358

(2) A credit union in operation for less than four years or	1359
having assets of less than five hundred thousand dollars shall	1360
reserve ten per cent of its gross income until its regular reserve	1361
equals seven and one-half per cent of its total risk assets. Once	1362
the credit union has regular reserves equal to seven and one-half	1363
per cent of its total risk assets, it shall reserve five per cent	1364
of its gross income until its regular reserve equals ten per cent	1365
of its total risk assets.	1366

(3) The provision for loan losses, or other such provisions	1367
related to the valuation allowances described in division (A) of	1368
this section, recorded on the credit union's statement of income	1369
for the year shall be deducted from the appropriate regular	1370
reserve calculated under division (B)(1) or (2) of this section.	1371

(4) Once the credit union has closed out its net income or	1372
loss to undivided earnings, it may allocate any extraordinary loss	1373
for the year, as defined by AICPA APB Opinion No. 30 or by rules	1374
as promulgated by the superintendent, to the regular reserve.	1375

(5) If the regular reserve account becomes less than the	1376
percentage required by division (B)(1) or (2) of this section,	1377
then the schedule of allocation shall apply until the required	1378
percentages are achieved.	1379

(6) The superintendent may decrease the reserve requirements	1380
under division (B)(1) or (2) of this section when, in histhe	1381
superintendent's opinion, a decrease is necessary or desirable and	1382
is consistent with the purposes of this section.	1383

(7) Nothing herein shall prevent the superintendent from	1384
requiring a particular credit union or all credit unions to	1385
establish a regular reserve in excess of the percentages required	1386
by division (B)(1) or (2) of this section if, in the opinion of	1387
the superintendent, economic conditions or other appropriate	1388
circumstances so warrant.	1389

(C) EachExcept as otherwise provided in this division, each	1390
credit union shall maintain a liquidity fund equal to five per	1391
cent of its shares. The assets included in the liquidity fund	1392
shall be defined by rule adopted by the superintendent. Nothing	1393
herein shall prevent theThe superintendent from requiringmay	1394
require a particular credit union or all credit unions to	1395
establish a liquidity fund in excess ofgreater than or less than	1396
five per cent of total shares, if, in the opinion of the	1397
superintendent, economic conditions or other appropriate	1398
circumstances so warrant.	1399

(D)(1) Reserves for corporate credit unions shall be	1400
established by the superintendent with due regard for the	1401
reserving requirements for corporate credit unions set by the	1402
applicable insurer recognized under section 1733.041 of the	1403
Revised Code. Specific reserving requirements shall be established	1404
by rule of the superintendent, but shall substantially parallel	1405
the reserving formula set by the applicable insurer recognized	1406
under section 1733.041 of the Revised Code.	1407

(2) Nothing in division (D)(1) of this section shall prevent	1408
the superintendent from requiring a particular corporate credit	1409
union or all corporate credit unions to establish a regular	1410
reserve in excess of those reserves established pursuant to	1411
division (D)(1) of this section if, in the opinion of the	1412
superintendent, economic conditions or other appropriate	1413
circumstances so warrant.	1414

Sec. 1733.32.  (A)(1) The superintendent of financial	1415
institutions shall see that the laws relating to credit unions are	1416
executed and enforced.	1417

(2) The deputy superintendent for credit unions shall be the	1418
principal supervisor of credit unions. In that position, the	1419
deputy superintendent for credit unions shall, notwithstanding	1420
division (A)(3) of this section, be responsible for conducting	1421
examinations and preparing examination reports under that	1422
division. In addition, the deputy superintendent for credit unions	1423
shall, notwithstanding sections 1733.191, 1733.41, 1733.411, and	1424
1733.412 of the Revised Code, have the authority to adopt rules in	1425
accordance with those sections, and, notwithstanding section	1426
1733.05 of the Revised Code, shall have the authority to approve	1427
issues and matters pertaining to fields of membership. In	1428
performing or exercising any of the examination, rule-making, or	1429
other regulatory functions, powers, or duties vested by division	1430
(A)(2) of this section in the deputy superintendent for credit	1431
unions, the deputy superintendent for credit unions shall be	1432
subject to the control of the superintendent of financial	1433
institutions.	1434

(3) The superintendent of financial institutions shall	1435
develop and implement a system for evaluating the safety and	1436
soundness of credit unions and for determining when examinations	1437
and supervisory actions are necessary. Credit unions shall be	1438
subject to periodic examinations, as specified in rules adopted by	1439
the superintendent, and their books, records, and accounts shall	1440
be open to the inspection of the superintendent at all times. For	1441
the purpose of such examination or inspection, the superintendent	1442
may subpoena witnesses, administer oaths, receive testimony, and	1443
order the submission of documents.	1444

(B) Every credit union shall prepare and submit, on forms	1445
provided by the superintendent, a financial report to the	1446
superintendent showing its assets and liabilities whenever	1447
requested to do so by the superintendent. Every financial report	1448
shall be verified by the oaths of the two principal officers in	1449
charge of the affairs of the credit union at the time of such	1450
verification and shall be submitted to the superintendent within	1451
thirty days after the superintendent requests the financial	1452
report.	1453

(C) An annual financial report of the affairs and business of	1454
the credit union, showing its condition as of the thirty-first day	1455
of December unless otherwise authorized by the superintendent,	1456
shall be filed with the superintendent not later than the date	1457
authorized in the rules adopted by the superintendent.	1458

(D) If a financial report or an annual financial report is	1459
not filed with the superintendent in accordance with division (B)	1460
or (C) of this section, the superintendent may do both of the	1461
following:	1462

(1) Assess a fine, determined by rule adopted by the	1463
superintendent, for each day the report is in arrears;	1464

(2) If the superintendent gives written notice to the	1465
president of the credit union of the superintendent's intention to	1466
do so, issue an order revoking the credit union's articles of	1467
incorporation and appointing a liquidating agent to liquidate the	1468
credit union in accordance with section 1733.37 of the Revised	1469
Code.	1470

(E)(1) Except as provided in division (E)(2) of this section,	1471
each credit union doing business in this state shall remit,	1472
semiannually and within fifteen days after billing, to the	1473
treasurer of state, a supervisory fee in an amount determined by	1474
the superintendent and confirmed by the credit union council. The	1475
supervisory fee described in division (E)(1) of this section shall	1476
be based on a percentage of the gross assets of the credit union	1477
as shown by its last annual financial report filed with the	1478
superintendent in accordance with division (C) of this section.	1479
The minimum supervisory fee shall be determined by the	1480
superintendent and confirmed by the credit union council.	1481

(2) Each corporate credit union doing business in this state	1482
shall remit, semiannually and within fifteen days after billing,	1483
to the treasurer of state, a supervisory fee determined by rule	1484
adopted by the superintendent and confirmed by the credit union	1485
council. The aggregate annual amount of the fee shall not exceed	1486
the annual operating fee that the national credit union	1487
administration charges a federally chartered credit union pursuant	1488
to the "Federal Credit Union Act," 84 Stat. 994 (1970), 12	1489
U.S.C.A. 1751.	1490

(3) The superintendent annually shall present to the credit	1491
union council for confirmation the supervisory fees to be billed	1492
credit unions and corporate credit unions pursuant to division (E)	1493
of this section.	1494

(4) If any supervisory fee is not remitted in accordance with	1495
division (E)(1) or (2) of this section, the superintendent may	1496
assess a fine, determined by rule adopted by the superintendent,	1497
for each day that each fee is in arrears.	1498

(5)(a) Subject to division (E)(5)(b) of this section, the	1499
total amount of each semiannual billing to all credit unions and	1500
corporate credit unions combined shall equal one-half of the	1501
appropriation made by the main operating appropriation act,	1502
including any modifications made by the controlling board, to the	1503
division of financial institutions for the regulation of credit	1504
unions for the fiscal year in which the billings occur, except	1505
that the superintendent, in determining the supervisory fees, may	1506
take into consideration any funds lapsed from the appropriation	1507
made in the previous fiscal year.	1508

(b) If during the period between the credit union council's	1509
confirmation of supervisory fees and when supervisory fees	1510
described in this section are collected, the credit union council	1511
determines additional money is required to adequately fund the	1512
operations of the division of financial institutions for that	1513
fiscal year, the credit union council may, by the affirmative vote	1514
of five of its members, increase the supervisory fees billed. The	1515
superintendent promptly shall notify each credit union and	1516
corporate credit union of the increased supervisory fees, and each	1517
credit union or corporate credit union shall pay the increased	1518
supervisory fees billed by the superintendent.	1519

(6) The fees or fines collected pursuant to this section	1520
shall be credited to the credit unions fund created in section	1521
1733.321 of the Revised Code.	1522

(F) A report of such examination shall be forwarded to the	1523
president of each credit union after the completion of the	1524
examination. SuchThe report may contain comments relative to the	1525
management of the affairs of the credit union and also as to the	1526
general condition of its assets. Within thirty days of the receipt	1527
of suchthe report, a meeting of the directors shall be called to	1528
consider matters contained in the report, and the president shall	1529
notify the superintendent of any action taken at suchthe meeting.	1530

(G)(1) The superintendent shall furnish reports of	1531
examinations or other appropriate information to any organization	1532
referred to in section 1733.041 of the Revised Code when requested	1533
by suchthe organization and authorized by the credit union. The	1534
superintendent may charge a fee for such reports and other	1535
information as may be established by rules adopted by the	1536
superintendent.	1537

(2) A report of examination furnished pursuant to division	1538
(G)(1) of this section is the property of the division of credit	1539
unions and may be used by the examined credit union only in the	1540
conduct of its business. Under no circumstances may the credit	1541
union, its current or former directors, officers, employees,	1542
agents, shareholders, participants in the conduct of its affairs,	1543
or their agents disclose or make public, in any manner, a report	1544
of examination or its contents.	1545

(H) Except as provided in this division, information obtained	1546
by the superintendent of financial institutions and the	1547
superintendent's employees as a result of or arising out of the	1548
examination or independent audit of a credit union, from required	1549
reports, or because of their official position, shall be	1550
confidential. Such information may be disclosed only in connection	1551
with criminal proceedings or, subject to section 1733.327 of the	1552
Revised Code, when it is necessary for the superintendent to take	1553
official action pursuant to Chapter 1733. of the Revised Code and	1554
the rules adopted thereunder regarding the affairs of the credit	1555
union examined. Such information may also be introduced into	1556
evidence or disclosed when and in the manner authorized in section	1557
1181.25 of the Revised Code. This division does not prevent the	1558
superintendent from properly exchanging information relating to an	1559
examined credit union pursuant to division (F) or (G) of this	1560
section or, with officials of properly authorized state or federal	1561
financial institution regulatory authorities or, with any insurer	1562
recognized under section 1733.041, or with any surety recognized	1563
under section 1733.23 of the Revised Code. This division also does	1564
not prevent the superintendent from disclosing information	1565
contained in the financial reports or annual financial reports	1566
described in division (B) or (C) of this section to recognized	1567
credit union trade associations, to share guarantee insurance	1568
organizations, to federal or state agencies, or to the general	1569
public. Financial reports and annual financial reports described	1570
in divisions (B) and (C) of this section, call reports, or	1571
financial statements required to be filed with the division of	1572
financial institutions are public records for purposes of section	1573
149.43 of the Revised Code. Information relating to the	1574
examination or independent audit of a credit union, other than	1575
information that is permitted to be disclosed by this section or	1576
is a public record, is not a public record for purposes of section	1577
149.43 of the Revised Code.	1578

Sec. 1733.33.  (A) The voting members may adopt amendments to	1579
the articles or regulations or amended articles or regulations in	1580
a writing as provided in section 1733.11 of the Revised Code or in	1581
a meeting of members called for that expressly stated purpose by a	1582
vote of two-thirds of the voting members represented at such	1583
meeting; or, if the articles or regulations provide or permit, by	1584
the affirmative vote of a greater or lesser proportion, but not	1585
less than a majority of the voting members represented at such	1586
meeting. The board of directors may, at any duly held meeting,	1587
adopt amendments to the field of membership article or to the	1588
regulations, by an affirmative vote of two-thirds of the number of	1589
directors authorized by the articles or regulations.	1590

(B) The directors may adopt the following amendments to the	1591
articles:	1592

(1) Unless otherwise provided in the articles, an amendment	1593
changing the name of the corporation;	1594

(2) An amendment changing the place in this state where the	1595
principal office of the credit union is located;	1596

(3) An amendment changing the authorized number of shares;	1597
the express terms, if any, of the shares; and if the shares are	1598
classified, as permitted in section 1733.24 of the Revised Code,	1599
the designation of each class, their express terms, and par value,	1600
of any, per share.	1601

(C) In the event amendments to the articles or regulations or	1602
amended articles or regulations are adopted pursuant to section	1603
1733.11 of the Revised Code, a copy of the proposed amendments or	1604
proposed amended articles or regulations shall be distributed to	1605
all of the voting members at or prior to the date on which	1606
solicitation begins for written approval. In the event the	1607
amendments or amended articles or regulations are adopted in a	1608
meeting of members, copies of the proposed amendments or amended	1609
articles or regulations, as the case may be, shall be distributed	1610
to voting members upon request.	1611

(C)(D) Amendments to the articles or regulations or the	1612
amended articles or regulations shall include only such provisions	1613
as may be included in or omitted from original articles or the	1614
amended articles or regulations at the time the amendments or	1615
amended articles or regulations are adopted.	1616

(D)(E) Amended articles or regulations shall contain a	1617
statement that they supersede the existing articles or	1618
regulations, as the case may be.	1619

(E)(F) Any such amendment or amended articles or regulations	1620
shall become effective only when the same shallit or they have	1621
been approved by the superintendent in the same manner as required	1622
for original articles or regulations under section 1733.07 of the	1623
Revised Code. Amendments to the articles or amended articles shall	1624
become effective upon the filing of the same with the secretary of	1625
state.	1626

Sec. 1733.37.  (A) If it appears that any credit union is	1627
bankrupt or insolvent, that its shares are impaired, that it has	1628
violated this chapter, or rules adopted by the superintendent of	1629
credit unions, or that it is operating in an unsafe or unsound	1630
manner, or if the credit union is experiencing a declining trend	1631
in its financial condition and a majority of its board of	1632
directors, by resolution, requests the issuance of an order under	1633
this division, the superintendent may issue an order revoking the	1634
credit union's articles of incorporation and appointing a	1635
liquidating agent to liquidate the credit union in accordance with	1636
this section.	1637

(B) A credit union under order to liquidate or in the course	1638
of liquidation, shall continue in existence for the purpose of	1639
discharging its debts, collecting and distributing its assets, and	1640
doing all acts required in order to wind up its business, and may	1641
sue and be sued for the purpose of enforcing such debts and	1642
obligations until its affairs are fully adjusted. The board of	1643
directors, or in the case of involuntary dissolution, the	1644
liquidating agent, shall use the assets of the credit union to	1645
pay: first, expenses incidental to liquidation, including any	1646
surety bond that may be required; second, any liability due	1647
nonmembers; third, redemption of shares and share accounts. Assets	1648
then remaining shall be distributed to the members proportionately	1649
to the purchase price of shares held by each member as of the date	1650
dissolving was voted, or the date of suspension, as the case may	1651
be.	1652

(C) As soon as the board or the liquidating agent determines	1653
that all assets from which there is a reasonable expectancy of	1654
realization have been liquidated and distributed as set forth in	1655
this section, it shall execute a certificate of dissolution on a	1656
form prescribed by the superintendent of credit unions and submit	1657
the certificate to the secretary of state who shall, after filing	1658
or recording and indexing, forward evidence of the filing to the	1659
superintendent, whereupon the credit union shall be dissolved.	1660

(D) If the articles of a credit union have been canceled for	1661
cause, or if a credit union has filed a certificate of dissolution	1662
or has indicated an intention to file such certificate, and the	1663
directors and officers of the credit union, in the opinion of the	1664
superintendent, are not conducting the liquidation proceedings in	1665
an expeditious, orderly, and efficient manner or in the best	1666
interest of its members, the superintendent may terminate the	1667
liquidation proceedings and issue an order appointing a	1668
liquidating agent to liquidate the credit union in accordance with	1669
this section. Such liquidating agent shall furnish bond for the	1670
faithful discharge of the liquidating agent's duties in an amount	1671
to be approved by the superintendent.	1672

(E) The liquidating agent may, under such rules as the	1673
superintendent prescribes:	1674

(1) Receive and take possession of the books, records,	1675
assets, and property of every description of the credit union in	1676
liquidation; sell, enforce collection of, and liquidate all such	1677
assets and property; compound all bad or doubtful debts, sue in	1678
the name of the credit union in liquidation, and defend such	1679
actions as are brought against the liquidating agent in the	1680
capacity as suchliquidating agent or against the credit union;	1681

(2) Receive, examine, and pass upon all claims against the	1682
credit union in liquidation, including claims of members;	1683

(3) Make distribution and payment to creditors and members as	1684
their interests appear;	1685

(4) Execute such documents and papers and do such other acts	1686
asthat the liquidating agent deems necessary or desirable to	1687
discharge official duties.	1688

(F) The expenses incurred by the liquidating agent in the	1689
liquidation of the credit union include the compensation of the	1690
liquidating agent and any other necessary or proper expenses	1691
connected therewith, all of which shall be paid in order of	1692
priority out of the property of suchthe credit union in the hands	1693
of the liquidating agent. Such expensesExpenses of liquidation,	1694
including the compensation of the liquidating agent, are subject	1695
to approval by the superintendent unless such agent is appointed	1696
by the court. In no event shall the total of suchthe expenses	1697
exceed ten per cent of the assets of the credit union existing at	1698
the date of the appointment of the liquidating agent, nor shall	1699
the compensation of such agent exceed five per cent of such assets	1700
upon suchthat date or five thousand dollars, whichever is the	1701
lesser amount.	1702

(G) Subject to the prior approval of the superintendent, a	1703
credit union may enter into a purchase and assumption agreement to	1704
purchase any of the assets or assume any of the liabilities of a	1705
credit union for which a liquidating agent has been appointed by	1706
order of the superintendent in accordance with this section. All	1707
persons, associations, and select groups eligible for membership	1708
in the credit unions that are parties to the purchase and	1709
assumption agreement shall be deemed to have a common bond of	1710
association. The assumption of the field of membership may be	1711
restricted, as specified in the purchase and assumption agreement.	1712

Sec. 1733.38.  A credit union organized and duly qualified as	1713
a credit union in another state or territory may qualify to do	1714
business as a credit union in this state provided:	1715

(A) Such credit union is organized under credit union law	1716
substantially similar to sections 1733.01 to 1733.45, inclusive,	1717
of the Revised Code;	1718

(B) The interest rate of such credit union on loans made to	1719
members in this state does not exceed the maximum interest rate	1720
permitted by sections 1733.01 to 1733.45, inclusive, of the	1721
Revised Code;	1722

(C) A credit union organized and doing business under the	1723
laws of this state is permitted to do business in such other state	1724
or territory under conditions substantially similar to the	1725
provisions of this section.	1726

Sec. 1733.412. (A) Notwithstanding any provision in Chapter	1727
1733. of the Revised Code, if federala credit unions,union	1728
operating in this state that is organized or chartered under this	1729
chapter or the laws of the United States, the home offices of	1730
which are located in this state, shall possess apossesses any	1731
right, power, privilege, or benefit by virtue of a statute, rule,	1732
orpolicy, regulation, interpretation, or judicial decision or	1733
will possess the right, power, privilege, or benefit by virtue of	1734
a rule or regulation issued but not effective, which right, power,	1735
privilege, or benefit is not possessed by a credit union organized	1736
under the laws of this state, the superintendent of credit unions	1737
may byshall adopt a rule authorizeunder section 111.15 of the	1738
Revised Code granting any credit unions organized under the laws	1739
of this stateunion doing business under authority granted by the	1740
superintendent authority to exercise the respective right, power,	1741
privilege, or benefit. A	1742

(B) The rule so adopted by the superintendent shall become	1743
pursuant to the authority of this section becomes effective on the	1744
date of its issuance, but if the rule is issued by the	1745
superintendent in anticipation of a federal rule or regulation	1746
which has been issued but has not then become effective, the	1747
effective date of the superintendent's rule shall be the later	1748
date on which the federal rule or regulation becomes effective	1749
later of the following dates:	1750

(1) The date the superintendent issues the rule;

1751

(2) The date the statute, rule, policy, regulation,	1752
interpretation, or judicial decision on which the superintendent's	1753
rule is based becomes effective. However, if	1754

(C) If the rule adopted by the superintendent pursuant to	1755
this section is not enacted into law or adopted in accordance with	1756
Chapter 119. of the Revised Code within thirty months from theits	1757
effective date the rule is issued by the superintendent, the rule	1758
shall thereupon no longer be of any force or effect; however, the	1759
superintendent may adopt the rule under section 111.15 of the	1760
Revised Code pursuant to this section for an additional	1761
thirty-month period. The	1762

(D) The superintendent, upon thirty days' written notice to	1763
state-chartered credit unions, may revoke any rule issued by	1764
virtue of the authority of this section.	1765

Sec. 1733.44. (A) No person, partnership, association, or	1766
corporation, other than credit unions and associations of such	1767
credit unions, to which all credit unions in their respective	1768
jurisdictions are eligible, shall use any name or title containing	1769
the words "credit union" or represent themselves, in advertising	1770
or elsewhere, as conducting business as a credit union.	1771

(B) Subject to all of the following, a credit union may adopt	1772
one or more trade names:	1773

(1) The credit union shall give written notice of the	1774
proposed trade name to the superintendent of credit unions at	1775
least thirty days before using the trade name.	1776

(2) The superintendent may deny a credit union the right to	1777
use a given trade name or terminate a credit union's right to use	1778
a trade name for any reason.	1779

(3) A credit union may use a trade name or a name other than	1780
its official charter name in advertising or signage, so long as it	1781
uses its official charter name in communications with the division	1782
of financial institutions and for share certificates or	1783
certificates of deposit, signature cards, loan agreements, account	1784
statements, checks, drafts, and other legal documents.	1785

(4) A trade name shall be registered with the secretary of	1786
state pursuant to the laws of this state and the registration	1787
shall be accompanied by any written documentation issued by the	1788
superintendent relating to the right to use, denial to use, or	1789
termination of a trade name.	1790

Sec. 2101.161.  The probate court may order that prepaid and	1791
unearned costs be deposited with a bank, savings bank, savings and	1792
loan association, credit union, or trust company incorporated	1793
under the laws of this state or of the United States. The order	1794
shall be entered on the journal of the court and may specify that	1795
deposited costs are to be held in an account, or invested in an	1796
investment, supervised by the bank, savings bank, association,	1797
credit union, or company. Interest earned on deposited costs shall	1798
be paid into the county treasury by the end of the calendar year	1799
in which it is received.	1800

Sec. 2105.31. As used in sections 2105.31 to 2105.39 of the	1801
Revised Code:	1802

(A) "Co-owners with right of survivorship" includes joint	1803
tenants, tenants by the entireties, and other co-owners of real or	1804
personal property,; insurance or other policies,; or bank, savings	1805
bank, credit union, or other accounts, held under circumstances	1806
that entitle one or more persons to the whole of the property or	1807
account on the death of the other person or persons.	1808

(B) "Governing instrument" means a deed, will, trust,	1809
insurance or annuity policy, account with a transfer-on-death	1810
designation or the abbreviation TOD, account with a	1811
payable-on-death designation or the abbreviation POD, pension,	1812
profit-sharing, retirement, or similar benefit plan, instrument	1813
creating or exercising a power of appointment or a power of	1814
attorney, or a dispositive, appointive, or nominative instrument	1815
of any similar type.	1816

(C) "Payor" means a trustee, insurer, business entity,	1817
employer, governmental agency, political subdivision, or any other	1818
person authorized or obligated by law or a governing instrument to	1819
make payments or transfers.	1820

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

1821

Sec. 2109.13.  In any case in which a bond is required by the	1822
probate court from a fiduciary and the value of the estate or fund	1823
is such that the court deems it inexpedient to require security in	1824
the full amount prescribed by section 2109.04 of the Revised Code,	1825
the court may direct the deposit of any suitable personal property	1826
belonging to the estate or fund with a bank, building and loan	1827
associationsavings bank, savings and loan association, credit	1828
union, or trust company incorporated under the laws of this state	1829
or of the United States, as may be designated by order of the	1830
court.	1831

The deposit shall be made in the name of the fiduciary, and	1832
the personal property deposited shall not be withdrawn from the	1833
custody of the bank, savings bank, association, credit union, or	1834
trust company except upon the special order of the court. No	1835
fiduciary shall receive or collect the whole or any part of the	1836
principal represented by the personal property without the special	1837
order of the court. Such an order can be made in favor of the	1838
fiduciary only if the court within its discretion, having regard	1839
for the purpose for which the order is requested, the disposition	1840
to be made of the assets as may be released, the value of the	1841
assets as related to the total value of the estate, and the period	1842
of time the assets will remain in the possession of the fiduciary,	1843
finds that the original bond previously given and then in force	1844
will be sufficient to protect the estate; otherwise, the court, as	1845
a condition to the release of the personal property deposited,	1846
shall require the fiduciary to execute an additional bond in an	1847
amount that the court determines.	1848

After the deposit has been made and after the filing with the	1849
court of a receipt for the personal property executed by the	1850
designated bank, savings bank, association, credit union, or	1851
company, which receipt shall acknowledge that the personal	1852
property is held by the bank, savings bank, association, credit	1853
union, or company subject to the order of the court, the court may	1854
fix or reduce the amount of the bond so that the amount of the	1855
penalty of the bond is determined with respect to the value of the	1856
remainder only of the estate or fund, without including the value	1857
of the personal property deposited. Neither the fiduciary nor his	1858
the fiduciary's sureties shall be liable for any loss to the trust	1859
estate resulting from the deposit as is authorized and directed by	1860
the court pursuant to this section, if the fiduciary has acted in	1861
good faith.	1862

This section may be invoked simultaneously with the initial	1863
application for appointment of the fiduciary if an interim receipt	1864
of the bank, savings bank, association, credit union, or company	1865
for which the application for appointment as depositary is being	1866
made, acknowledging that it already has received temporary deposit	1867
of the personal property described in the application for	1868
appointment as depositary, accompanies the simultaneous	1869
applications for appointment of fiduciary and for appointment of	1870
the depositary.	1871

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

1872

(1) "Short term trust-quality investment fund" means a short	1873
term investment fund that meets both of the following conditions:	1874

(a) The fund may be either a collective investment fund	1875
established in accordance with section 1111.14 of the Revised Code	1876
or a registered investment company, including any affiliated	1877
investment company whether or not the fiduciary has invested other	1878
funds held by it in an agency or other nonfiduciary capacity in	1879
the securities of the same registered investment company or	1880
affiliated investment company.	1881

(b) The fund is invested in any one or more of the following	1882
manners:	1883

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

1884

(ii) In obligations of one or more of the states of the	1885
United States or their political subdivisions;	1886

(iii) In variable demand notes, corporate money market	1887
instruments including, but not limited to, commercial paper rated	1888
at the time of purchase in either of the two highest	1889
classifications established by at least one nationally recognized	1890
standard rating service;	1891

(iv) Deposits in banks, savings banks, or savings and loan	1892
associations, whose deposits are insured by the federal deposit	1893
insurance corporation, or in credit unions insured by the national	1894
credit union administration or by a credit union share guaranty	1895
corporation established under Chapter 1761. of the Revised Code,	1896
if the rate of interest paid on such deposits is at least equal to	1897
the rate of interest generally paid by such banks or, savings	1898
banks, savings and loan associations, or credit unions on deposits	1899
of similar terms or amounts;	1900

(v) In fully collateralized repurchase agreements or other	1901
evidences of indebtedness that are of trust quality and are	1902
payable on demand or have a maturity date consistent with the	1903
purpose of the fund and the duty of fiduciary prudence.	1904

(2) "Registered investment company" means any investment	1905
company that is defined in and registered under sections 3 and 8	1906
of the "Investment Company Act of 1940," 54 Stat. 789, 15 U.S.C.A.	1907
80a-3 and 80a-8.	1908

(3) "Affiliated investment company" has the same meaning as	1909
in division (E)(1) of section 1111.13 of the Revised Code.	1910

(B) A fiduciary is not required to invest cash that belongs	1911
to the trust and may hold that cash for the period prior to	1912
distribution if either of the following applies:	1913

(1) The fiduciary reasonably expects to do either of the	1914
following:	1915

(a) Distribute the cash to beneficiaries of the trust on a	1916
quarterly or more frequent basis;	1917

(b) Use the cash for the payment of debts, taxes, or expenses	1918
of administration within the ninety-day period following the	1919
receipt of the cash by the fiduciary.	1920

(2) Determined on the basis of the facilities available to	1921
the fiduciary and the amount of the income that reasonably could	1922
be earned by the investment of the cash, the amount of the cash	1923
does not justify the administrative burden or expense associated	1924
with its investment.	1925

(C) If a fiduciary wishes to hold funds that belong to the	1926
trust in liquid form and division (B) of this section does not	1927
apply, the fiduciary may so hold the funds as long as they are	1928
temporarily invested as described in division (D) of this section.	1929

(D)(1) A fiduciary may make a temporary investment of cash	1930
that the fiduciary may hold uninvested in accordance with division	1931
(B) of this section, and shall make a temporary investment of	1932
funds held in liquid form pursuant to division (C) of this	1933
section, in any of the following investments, unless the governing	1934
instrument provides for other investments in which the temporary	1935
investment of cash or funds is permitted:	1936

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

1937

(b) Direct obligations of the United States or of its	1938
agencies;	1939

(c) A deposit with a bank or, savings bank, savings and loan	1940
association, or credit union, including a deposit with the	1941
fiduciary itself or any bank subsidiary corporation owned or	1942
controlled by the bank holding company that owns or controls the	1943
fiduciary, whose deposits are insured by the federal deposit	1944
insurance corporation, if the rate of interest paid on that	1945
deposit is at least equal to the rate of interest generally paid	1946
by that bank or, savings bank, savings and loan association, or	1947
credit union on deposits of similar terms or amounts.	1948

(2) A fiduciary that makes a temporary investment of cash or	1949
funds pursuant to division (D)(1) of this section may charge a	1950
reasonable fee for the services associated with that investment.	1951
The fee shall be in addition to the compensation to which the	1952
fiduciary is entitled for his ordinary fiduciary services.	1953

(3) Fiduciaries that make one or more temporary investments	1954
of cash or funds pursuant to division (D)(1) of this section shall	1955
provide to the beneficiaries of the trusts involved, that are	1956
currently receiving income or have a right to receive income, a	1957
written disclosure of their temporary investment practices and, if	1958
applicable, the method of computing reasonable fees for their	1959
temporary investment services pursuant to division (D)(2) of this	1960
section. Fiduciaries may comply with this requirement in any	1961
appropriate written document, including, but not limited to, any	1962
periodic statement or account.	1963

(4) A fiduciary that makes a temporary investment of cash or	1964
funds in an affiliated investment company pursuant to division	1965
(D)(1)(a) of this section shall, when providing any periodic	1966
account statements of its temporary investment practices, report	1967
the net asset value of the shares comprising the investment in the	1968
affiliated investment company.	1969

(5) If a fiduciary that makes a temporary investment of cash	1970
or funds in an affiliated investment company pursuant to division	1971
(D)(1)(a) of this section invests in any mutual fund, the	1972
fiduciary shall provide to the beneficiaries of the trust	1973
involved, that are currently receiving income or have a right to	1974
receive income, a written disclosure, in at least ten-point	1975
boldface type, that the mutual fund is not insured or guaranteed	1976
by the federal deposit insurance corporation or by any other	1977
government agency or government-sponsored agency of the federal	1978
government or of this state.	1979

Sec. 2109.41.  Immediately after appointment and throughout	1980
the administration of a trust, but subject to section 2109.372 of	1981
the Revised Code, every fiduciary, pending payment of current	1982
obligations of histhe fiduciary's trust, distribution, or	1983
investment pursuant to law, shall deposit all funds received by	1984
himthe fiduciary in histhe fiduciary's name as such fiduciary in	1985
one or more depositaries. Each depositary shall be a bank or,	1986
savings bank, savings and loan association, or credit union	1987
located in this state. A corporate fiduciary, authorized to	1988
receive deposits of fiduciaries, may be the depository of funds	1989
held by it as such fiduciary. All deposits made pursuant to this	1990
section shall be in such class of account as will be most	1991
advantageous to the trust, and each depositary shall pay interest	1992
at the highest rate customarily paid to its patrons on deposits in	1993
accounts of the same class.	1994

The placing of such funds in such depositaries under the	1995
joint control of the fiduciary and a surety on the bond of the	1996
fiduciary shall not increase the liability of the fiduciary.	1997

Sec. 4705.09.  (A)(1) Any person admitted to the practice of	1998
law in this state by order of the supreme court in accordance with	1999
its prescribed and published rules, or any law firm or legal	2000
professional association, may establish and maintain an	2001
interest-bearing trust account, for purposes of depositing client	2002
funds held by the attorney, firm, or association that are nominal	2003
in amount or are to be held by the attorney, firm, or association	2004
for a short period of time, with any bank, savings bank, or	2005
savings and loan association that is authorized to do business in	2006
this state and is insured by the federal deposit insurance	2007
corporation or the successor to that corporation, or any credit	2008
union insured by the national credit union administration	2009
operating under the "Federal Credit Union Act," 84 Stat. 994	2010
(1970), 12 U.S.C.A. 1751, or insured by a credit union share	2011
guaranty corporation established under Chapter 1761. of the	2012
Revised Code. Each account established under this division shall	2013
be in the name of the attorney, firm, or association that	2014
established and is maintaining it and shall be identified as an	2015
IOLTA or an interest on lawyer's trust account. The name of the	2016
account may contain additional identifying features to distinguish	2017
it from other trust accounts established and maintained by the	2018
attorney, firm, or association.	2019

(2) Each attorney who receives funds belonging to a client	2020
shall do one of the following:	2021

(a) Establish and maintain one or more interest-bearing trust	2022
accounts in accordance with division (A)(1) of this section or	2023
maintain one or more interest-bearing trust accounts previously	2024
established in accordance with that division, and deposit all	2025
client funds held that are nominal in amount or are to be held by	2026
the attorney for a short period of time in the account or	2027
accounts;	2028

(b) If the attorney is affiliated with a law firm or legal	2029
professional association, comply with division (A)(2)(a) of this	2030
section or deposit all client funds held that are nominal in	2031
amount or are to be held by the attorney for a short period of	2032
time in one or more interest-bearing trust accounts established	2033
and maintained by the firm or association in accordance with	2034
division (A)(1) of this section.	2035

(3) No funds belonging to any attorney, firm, or legal	2036
professional association shall be deposited in any	2037
interest-bearing IOLTAtrust account established under division	2038
(A)(1) or (2) of this section, except that funds sufficient to pay	2039
or enable a waiver of depository institution service charges on	2040
the account shall be deposited in the account and other funds	2041
belonging to the attorney, firm, or association may be deposited	2042
as authorized by the Code of Professional Responsibility adopted	2043
by the supreme court. The determinations of whether funds held are	2044
nominal or more than nominal in amount and of whether funds are to	2045
be held for a short period or longer than a short period of time	2046
rests in the sound judgment of the particular attorney. No	2047
imputation of professional misconduct shall arise from the	2048
attorney's exercise of judgment in these matters.	2049

(B) All interest earned on funds deposited in an	2050
interest-bearing trust account established under division (A)(1)	2051
or (2) of this section shall be transmitted to the treasurer of	2052
state for deposit in the legal aid fund established under section	2053
120.52 of the Revised Code. No part of the interest earned on	2054
funds deposited in an interest-bearing trust account established	2055
under division (A)(1) or (2) of this section shall be paid to, or	2056
inure to the benefit of, the attorney, the attorney's law firm or	2057
legal professional association, the client or other person who	2058
owns or has a beneficial ownership of the funds deposited, or any	2059
other person other than in accordance with this section, section	2060
4705.10, and sections 120.51 to 120.55 of the Revised Code.	2061

(C) No liability arising out of any act or omission by any	2062
attorney, law firm, or legal professional association with respect	2063
to any interest-bearing trust account established under division	2064
(A)(1) or (2) of this section shall be imputed to the depository	2065
institution.	2066

(D) The supreme court may adopt and enforce rules of	2067
professional conduct that pertain to the use, by attorneys, law	2068
firms, or legal professional associations, of interest-bearing	2069
trust accounts established under division (A)(1) or (2) of this	2070
section, and that pertain to the enforcement of division (A)(2) of	2071
this section. Any rules adopted by the supreme court under this	2072
authority shall conform to the provisions of this section, section	2073
4705.10, and sections 120.51 to 120.55 of the Revised Code.	2074

Sec. 4973.17.  (A) Upon the application of any bank,	2075
building; savings and loan association,; savings bank; credit	2076
union; or association of banks or building, savings and loan	2077
associations, savings banks, or credit unions in this state, the	2078
secretary of state may appoint and commission any persons that the	2079
bank, building; savings and loan association,; savings bank;	2080
credit union; or association of banks or building, savings and	2081
loan associations, savings banks, or credit unions designates, or	2082
as many of those persons as the secretary of state considers	2083
proper, to act as police officers for and on the premises of that	2084
bank, building; savings and loan association,; savings bank;	2085
credit union; or association of banks or building, savings and	2086
loan associations, savings banks, or credit unions; or elsewhere,	2087
when directly in the discharge of their duties. Police officers so	2088
appointed shall be citizens of this state and of good character	2089
and shall have successfully completed a training program approved	2090
by the Ohio peace officer training commission described in section	2091
109.71 of the Revised Code and be certified by the commission.	2092
They shall hold office for three years, unless, for good cause	2093
shown, their commission is revoked by the secretary of state, or	2094
by the bank, building; savings and loan association,; savings	2095
bank; credit union; or association of banks or building, savings	2096
and loan associations, savings banks, or credit unions, as	2097
provided by law.	2098

(B) Upon the application of a company owning or using a	2099
railroad in this state and subject to section 4973.171 of the	2100
Revised Code, the secretary of state may appoint and commission	2101
any persons that the railroad company designates, or as many of	2102
those persons as the secretary of state considers proper, to act	2103
as police officers for and on the premises of the railroad	2104
company, its affiliates or subsidiaries, or elsewhere, when	2105
directly in the discharge of their duties. Police officers so	2106
appointed, within the time set by the Ohio peace officer training	2107
commission, shall successfully complete a commission approved	2108
training program and be certified by the commission. They shall	2109
hold office for three years, unless, for good cause shown, their	2110
commission is revoked by the secretary of state, or railroad	2111
company, as provided by law.	2112

Any person holding a similar commission in another state may	2113
be commissioned and may hold office in this state without	2114
completing the approved training program required by this division	2115
provided that the person has completed a substantially equivalent	2116
training program in the other state. The Ohio peace officer	2117
training commission shall determine whether a training program in	2118
another state meets the requirements of this division.	2119

(C) Upon the application of any company under contract with	2120
the United States atomic energy commission for the construction or	2121
operation of a plant at a site owned by the commission, the	2122
secretary of state may appoint and commission persons the company	2123
designates, not to exceed one hundred fifty, to act as police	2124
officers for the company at the plant or site owned by the	2125
commission. Police officers so appointed shall be citizens of this	2126
state and of good character. They shall hold office for three	2127
years, unless, for good cause shown, their commission is revoked	2128
by the secretary of state or by the company, as provided by law.	2129

(D)(1) Upon the application of any hospital that is operated	2130
by a public hospital agency or a nonprofit hospital agency and	2131
that employs and maintains its own proprietary police department	2132
or security department and subject to section 4973.171 of the	2133
Revised Code, the secretary of state may appoint and commission	2134
any persons that the hospital designates, or as many of those	2135
persons as the secretary of state considers proper, to act as	2136
police officers for the hospital. No person who is appointed as a	2137
police officer under this division shall engage in any duties or	2138
activities as a police officer for the hospital or any affiliate	2139
or subsidiary of the hospital unless all of the following apply:	2140

(a) The chief of police of the municipal corporation in which	2141
the hospital is located or, if the hospital is located in the	2142
unincorporated area of a county, the sheriff of that county has	2143
granted approval to the hospital to permit persons appointed as	2144
police officers under this division to engage in those duties and	2145
activities. The approval required by this division is general in	2146
nature and is intended to cover in the aggregate all persons	2147
appointed as police officers for the hospital under this division;	2148
a separate approval is not required for each appointee on an	2149
individual basis.	2150

(b) Subsequent to the grant of approval described in division	2151
(D)(1)(a) of this section, the hospital has entered into a written	2152
agreement with the chief of police of the municipal corporation in	2153
which the hospital is located or, if the hospital is located in	2154
the unincorporated area of a county, with the sheriff of that	2155
county, that sets forth the standards and criteria to govern the	2156
interaction and cooperation between persons appointed as police	2157
officers for the hospital under this division and law enforcement	2158
officers serving the agency represented by the chief of police or	2159
sheriff who signed the agreement in areas of their concurrent	2160
jurisdiction. The written agreement shall be signed by the	2161
appointing authority of the hospital and by the chief of police or	2162
sheriff. The standards and criteria may include, but are not	2163
limited to, provisions governing the reporting of offenses	2164
discovered by hospital police officers to the agency represented	2165
by the chief of police or sheriff, provisions governing	2166
investigatory responsibilities relative to offenses committed on	2167
hospital property, and provisions governing the processing and	2168
confinement of persons arrested for offenses committed on hospital	2169
property. The agreement required by this division is intended to	2170
apply in the aggregate to all persons appointed as police officers	2171
for the hospital under this division; a separate agreement is not	2172
required for each appointee on an individual basis.	2173

(c) The person has successfully completed a training program	2174
approved by the Ohio peace officer training commission and has	2175
been certified by the commission. A person appointed as a police	2176
officer under this division may attend a training program approved	2177
by the commission and be certified by the commission regardless of	2178
whether the appropriate chief of police or sheriff has granted the	2179
approval described in division (D)(1)(a) of this section and	2180
regardless of whether the hospital has entered into the written	2181
agreement described in division (D)(1)(b) of this section with the	2182
appropriate chief of police or sheriff.	2183

(2)(a) A person who is appointed as a police officer under	2184
division (D)(1) of this section is entitled, upon the grant of	2185
approval described in division (D)(1)(a) of this section and upon	2186
the person's and the hospital's compliance with the requirements	2187
of divisions (D)(1)(b) and (c) of this section, to act as a police	2188
officer for the hospital on the premises of the hospital and of	2189
its affiliates and subsidiaries that are within the territory of	2190
the municipal corporation served by the chief of police or the	2191
unincorporated area of the county served by the sheriff who signed	2192
the written agreement described in division (D)(1)(b) of this	2193
section, whichever is applicable, and anywhere else within the	2194
territory of that municipal corporation or within the	2195
unincorporated area of that county. The authority to act as a	2196
police officer as described in this division is granted only if	2197
the person, when engaging in that activity, is directly in the	2198
discharge of the person's duties as a police officer for the	2199
hospital. The authority to act as a police officer as described in	2200
this division shall be exercised in accordance with the standards	2201
and criteria set forth in the written agreement described in	2202
division (D)(1)(b) of this section.	2203

(b) Additionally, a person appointed as a police officer	2204
under division (D)(1) of this section is entitled, upon the grant	2205
of approval described in division (D)(1)(a) of this section and	2206
upon the person's and the hospital's compliance with the	2207
requirements of divisions (D)(1)(b) and (c) of this section, to	2208
act as a police officer elsewhere, within the territory of a	2209
municipal corporation or within the unincorporated area of a	2210
county, if the chief of police of that municipal corporation or	2211
the sheriff of that county, respectively, has granted approval for	2212
that activity to the hospital, police department, or security	2213
department served by the person as a police officer and if the	2214
person, when engaging in that activity, is directly in the	2215
discharge of the person's duties as a police officer for the	2216
hospital. The approval described in this division may be general	2217
in nature or may be limited in scope, duration, or applicability,	2218
as determined by the chief of police or sheriff granting the	2219
approval.	2220

(3) Police officers appointed under division (D)(1) of this	2221
section shall hold office for three years, unless, for good cause	2222
shown, their commission is revoked by the secretary of state or by	2223
the hospital, as provided by law. As used in divisions (D)(1) to	2224
(3) of this section, "public hospital agency" and "nonprofit	2225
hospital agency" have the same meanings as in section 140.01 of	2226
the Revised Code.	2227

(E)(1) Upon the application of any owner or operator of an	2228
amusement park that has an average yearly attendance in excess of	2229
six hundred thousand guests and that employs and maintains its own	2230
proprietary police department or security department and subject	2231
to section 4973.171 of the Revised Code, any judge of the	2232
municipal court or county court that has territorial jurisdiction	2233
over the amusement park may appoint and commission any persons	2234
that the owner or operator designates, or as many of those persons	2235
as the judge considers proper, to act as police officers for the	2236
amusement park. If the amusement park is located in more than one	2237
county, any judge of the municipal court or county court of any of	2238
those counties may make the appointments and commissions as	2239
described in this division. No person who is appointed as a police	2240
officer under this division shall engage in any duties or	2241
activities as a police officer for the amusement park or any	2242
affiliate or subsidiary of the owner or operator of the amusement	2243
park unless all of the following apply:	2244

(a) The appropriate chief or chiefs of police of the	2245
political subdivision or subdivisions in which the amusement park	2246
is located as specified in this division have granted approval to	2247
the owner or operator of the amusement park to permit persons	2248
appointed as police officers under this division to engage in	2249
those duties and activities. If the amusement park is located in a	2250
single municipal corporation or a single township, the chief of	2251
police of that municipal corporation or township is the	2252
appropriate chief of police for the grant of approval under this	2253
division. If the amusement park is located in two or more	2254
townships, two or more municipal corporations, or one or more	2255
townships and one or more municipal corporations, the chiefs of	2256
police of all of the affected townships and municipal corporations	2257
are the appropriate chiefs of police for the grant of approval	2258
under this division, and the approval must be jointly granted by	2259
all of those chiefs of police. The approval required by this	2260
division is general in nature and is intended to cover in the	2261
aggregate all persons appointed as police officers for the	2262
amusement park under this division. A separate approval is not	2263
required for each appointee on an individual basis.	2264

(b) Subsequent to the grant of approval described in division	2265
(E)(1)(a) of this section, the owner or operator has entered into	2266
a written agreement with the appropriate chief or chiefs of police	2267
of the political subdivision or subdivisions in which the	2268
amusement park is located as specified in this division and has	2269
provided the sheriff of the county in which the political	2270
subdivision or subdivisions are located with a copy of the	2271
agreement. If the amusement park is located in a single municipal	2272
corporation or a single township, the chief of police of that	2273
municipal corporation or township is the appropriate chief of	2274
police for entering into the written agreement under this	2275
division. If the amusement park is located in two or more	2276
townships, two or more municipal corporations, or one or more	2277
townships and one or more municipal corporations, the chiefs of	2278
police of all of the affected townships and municipal corporations	2279
are the appropriate chiefs of police for entering into the written	2280
agreement under this division, and the written agreement must be	2281
jointly entered into by all of those chiefs of police. The written	2282
agreement between the owner or operator and the chief or chiefs of	2283
police shall address the scope of activities, the duration of the	2284
agreement, and mutual aid arrangements and shall set forth the	2285
standards and criteria to govern the interaction and cooperation	2286
between persons appointed as police officers for the amusement	2287
park under this division and law enforcement officers serving the	2288
agency represented by the chief of police who signed the	2289
agreement. The written agreement shall be signed by the owner or	2290
operator and by the chief or chiefs of police who enter into it.	2291
The standards and criteria may include, but are not limited to,	2292
provisions governing the reporting of offenses discovered by the	2293
amusement park's police officers to the agency represented by the	2294
chief of police of the municipal corporation or township in which	2295
the offense occurred, provisions governing investigatory	2296
responsibilities relative to offenses committed on amusement park	2297
property, and provisions governing the processing and confinement	2298
of persons arrested for offenses committed on amusement park	2299
property. The agreement required by this division is intended to	2300
apply in the aggregate to all persons appointed as police officers	2301
for the amusement park under this division. A separate agreement	2302
is not required for each appointee on an individual basis.	2303

(c) The person has successfully completed a training program	2304
approved by the Ohio peace officer training commission and has	2305
been certified by the commission. A person appointed as a police	2306
officer under this division may attend a training program approved	2307
by the commission and be certified by the commission regardless of	2308
whether the appropriate chief of police has granted the approval	2309
described in division (E)(1)(a) of this section and regardless of	2310
whether the owner or operator of the amusement park has entered	2311
into the written agreement described in division (E)(1)(b) of this	2312
section with the appropriate chief of police.	2313

(2)(a) A person who is appointed as a police officer under	2314
division (E)(1) of this section is entitled, upon the grant of	2315
approval described in section (E)(1)(a) of this section and upon	2316
the person's and the owner or operator's compliance with the	2317
requirements of division (E)(1)(b) and (c) of this section, to act	2318
as a police officer for the amusement park and its affiliates and	2319
subsidiaries that are within the territory of the political	2320
subdivision or subdivisions served by the chief of police, or	2321
respective chiefs of police, who signed the written agreement	2322
described in division (E)(1)(b) of this section, and upon any	2323
contiguous real property of the amusement park that is covered by	2324
the written agreement, whether within or adjacent to the political	2325
subdivision or subdivisions. The authority to act as a police	2326
officer as described in this division is granted only if the	2327
person, when engaging in that activity, is directly in the	2328
discharge of the person's duties as a police officer for the	2329
amusement park. The authority to act as a police officer as	2330
described in this division shall be exercised in accordance with	2331
the standards and criteria set forth in the written agreement	2332
described in division (E)(1)(b) of this section.	2333

(b) In addition to the authority granted under division	2334
(E)(2)(a) of this section, a person appointed as a police officer	2335
under division (E)(1) of this section is entitled, upon the grant	2336
of approval described in division (E)(1)(a) of this section and	2337
upon the person's and the owner or operator's compliance with the	2338
requirements of divisions (E)(1)(b) and (c) of this section, to	2339
act as a police officer elsewhere within the territory of a	2340
municipal corporation or township if the chief of police of that	2341
municipal corporation or township has granted approval for that	2342
activity to the owner or operator served by the person as a police	2343
officer and if the person, when engaging in that activity, is	2344
directly in the discharge of the person's duties as a police	2345
officer for the amusement park. The approval described in this	2346
division may be general in nature or may be limited in scope,	2347
duration, or applicability, as determined by the chief of police	2348
granting the approval.	2349

(3) Police officers appointed under division (E)(1) of this	2350
section shall hold office for five years, unless, for good cause	2351
shown, their commission is revoked by the appointing judge or the	2352
judge's successor or by the owner or operator, as provided by law.	2353

(F) A fee of fifteen dollars for each commission applied for	2354
under this section shall be paid at the time the application is	2355
made, and this amount shall be returned if for any reason a	2356
commission is not issued.	2357

Sec. 4973.171.  (A) As used in this section, "felony" has the	2358
same meaning as in section 109.511 of the Revised Code.	2359

(B)(1) The secretary of state shall not appoint or commission	2360
a person as a police officer for a bank, savings and loan	2361
association, credit union, or association of banks, savings and	2362
loan associations, or credit unions under division (A) of section	2363
4973.17 of the Revised Code; for a railroad company under division	2364
(B) of section 4973.17 of the Revised Code and shall not appoint	2365
or commission a person as a police officer; or for a hospital	2366
under division (D) of section 4973.17 of the Revised Code on a	2367
permanent basis, on a temporary basis, for a probationary term, or	2368
on other than a permanent basis if the person previously has been	2369
convicted of or has pleaded guilty to a felony.	2370

(2)(a) The secretary of state shall revoke the appointment or	2371
commission of a person appointed or commissioned as a police	2372
officer for a bank, savings and loan association, credit union, or	2373
association of banks, savings and loan associations, or credit	2374
unions; for a railroad company; or as a police officer for a	2375
hospital under division (A), (B), or (D) of section 4973.17 of the	2376
Revised Code if that person does either of the following:	2377

(i) Pleads guilty to a felony;

2378

(ii) Pleads guilty to a misdemeanor pursuant to a negotiated	2379
plea agreement as provided in division (D) of section 2929.43 of	2380
the Revised Code in which the person agrees to surrender the	2381
certificate awarded to that person under section 109.77 of the	2382
Revised Code.	2383

(b) The secretary of state shall suspend the appointment or	2384
commission of a person appointed or commissioned as a police	2385
officer for a bank, savings and loan association, credit union, or	2386
association of banks, savings and loan associations, or credit	2387
unions; for a railroad company; or as a police officer for a	2388
hospital under division (A), (B), or (D) of section 4973.17 of the	2389
Revised Code if that person is convicted, after trial, of a	2390
felony. If the person files an appeal from that conviction and the	2391
conviction is upheld by the highest court to which the appeal is	2392
taken or if the person does not file a timely appeal, the	2393
secretary of state shall revoke the appointment or commission of	2394
that person as a police officer for a bank, savings and loan	2395
association, credit union, or association of banks, savings and	2396
loan associations, or credit unions; for a railroad company; or as	2397
a police officer for a hospital. If the person files an appeal	2398
that results in that person's acquittal of the felony or	2399
conviction of a misdemeanor, or in the dismissal of the felony	2400
charge against that person, the secretary of state shall reinstate	2401
the appointment or commission of that person as a police officer	2402
for a bank, savings and loan association, credit union, or	2403
association of banks, savings and loan associations, or credit	2404
unions; for a railroad company; or as a police officer for a	2405
hospital. A person whose appointment or commission is reinstated	2406
under division (B)(2)(b) of this section shall not receive any	2407
back pay unless that person's conviction of the felony was	2408
reversed on appeal, or the felony charge was dismissed, because	2409
the court found insufficient evidence to convict the person of the	2410
felony.	2411

(3) Division (B) of this section does not apply regarding an	2412
offense that was committed prior to January 1, 1997.	2413

(4) The suspension or revocation of the appointment or	2414
commission of a person as a police officer for a bank, savings and	2415
loan association, credit union, or association of banks, savings	2416
and loan associations, or credit unions; for a railroad company;	2417
or as a police officer for a hospital under division (B)(2) of	2418
this section shall be in accordance with Chapter 119. of the	2419
Revised Code.	2420

(C)(1) A judge of a municipal court or county court that has	2421
territorial jurisdiction over an amusement park shall not appoint	2422
or commission a person as a police officer for the amusement park	2423
under division (E) of section 4973.17 of the Revised Code on a	2424
permanent basis, on a temporary basis, for a probationary term, or	2425
on other than a permanent basis if the person previously has been	2426
convicted of or has pleaded guilty to a felony.	2427

(2) The judge shall revoke the appointment or commission of a	2428
person appointed or commissioned as a police officer for an	2429
amusement park under division (E) of section 4973.17 of the	2430
Revised Code if that person does either of the following:	2431

(a) Pleads guilty to a felony;

2432

(b) Pleads guilty to a misdemeanor pursuant to a negotiated	2433
plea agreement as provided in division (D) of section 2929.43 of	2434
the Revised Code in which the person agrees to surrender the	2435
certificate awarded to that person under section 109.77 of the	2436
Revised Code.	2437

(3) The judge shall suspend the appointment or commission of	2438
a person appointed or commissioned as a police officer for an	2439
amusement park under division (E) of section 4973.17 of the	2440
Revised Code if that person is convicted, after trial, of a	2441
felony. If the person files an appeal from that conviction and	2442
that conviction is upheld by the highest court to which the appeal	2443
is taken or if the person does not file a timely appeal, the judge	2444
shall revoke the appointment or commission of that person as a	2445
police officer for an amusement park. If the person files an	2446
appeal that results in that person's acquittal of the felony or	2447
conviction of a misdemeanor or in the dismissal of the felony	2448
charge against that person, the judge shall reinstate the	2449
appointment or commission of that person as a police officer for	2450
an amusement park. A person whose appointment or commission is	2451
reinstated under division (C)(3) of this section shall not receive	2452
any back pay unless that person's conviction of the felony was	2453
reversed on appeal, or the felony charge was dismissed, because	2454
the court found insufficient evidence to convict the person of a	2455
felony.	2456

(4) Division (C) of this section does not apply regarding an	2457
offense that was committed prior to January 1, 1997.	2458

(5) The suspension or revocation of the appointment or	2459
commission of a person as a police officer for an amusement park	2460
under division (C)(2) of this section shall be in accordance with	2461
Chapter 119. of the Revised Code.	2462

Sec. 5725.01.  As used in sections 5725.01 to 5725.26 of the	2463
Revised Code:	2464

(A) "Financial institution" means:

2465

(1) A national bank organized and existing as a national bank	2466
association pursuant to the "National Bank Act," 12 U.S.C. 21;	2467

(2) A federal savings association or federal savings bank	2468
that is chartered under 12 U.S.C. 1464;	2469

(3) A bank, banking association, trust company, savings and	2470
loan association, savings bank, or other banking institution that	2471
is incorporated or organized under the laws of any state;	2472

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

2473

(5) Any agency or branch of a foreign depository as defined	2474
in 12 U.S.C. 3101;	2475

(6) A company licensed as a small business investment company	2476
under the "Small Business Investment Act of 1958," 72 Stat. 689,	2477
15 U.S.C. 66l, as amended; or	2478

(7) A company chartered under the "Farm Credit Act of 1933,"	2479
48 Stat. 257, 12 U.S.C. 1131(d), as amended.	2480

Corporations or institutions organized under the "Federal	2481
Farm Loan Act" and amendments thereto, insurance companies, and	2482
credit unions shall not be considered financial institutions or	2483
dealers in intangibles within the meaning of such sections.	2484

(B)(1) "Dealer in intangibles" includes every person who	2485
keeps an office or other place of business in this state and	2486
engages at such office or other place in a business that consists	2487
primarily of lending money, or discounting, buying, or selling	2488
bills of exchange, drafts, acceptances, notes, mortgages, or other	2489
evidences of indebtedness, or of buying or selling bonds, stocks,	2490
or other investment securities, whether on the person's own	2491
account with a view to profit, or as agent or broker for others,	2492
with a view to profit or personal earnings. Dealer in intangibles	2493
excludes institutions used exclusively for charitable purposes,	2494
insurance companies, and financial institutions. The investment of	2495
funds as personal accumulations or as business reserves or working	2496
capital does not constitute engaging in a business within the	2497
meaning of this division; but a person who, having engaged in a	2498
business that consists primarily of lending money, or discounting,	2499
buying, or selling bills of exchange, drafts, acceptances, notes,	2500
mortgages, or other evidences of indebtedness on the person's own	2501
account, remains in business primarily for the purpose of	2502
realizing upon the assets of the business is deemed a dealer in	2503
intangibles, though not presently engaged in a business that	2504
consists primarily of lending money or discounting or buying such	2505
securities.	2506

(2) The tax commissioner shall adopt a rule defining	2507
"primarily" as that term is used in division (B)(1) of this	2508
section.	2509

(C) "Insurance company" includes every corporation,	2510
association, and society engaged in the business of insurance of	2511
any character, or engaged in the business of entering into	2512
contracts substantially amounting to insurance of any character,	2513
or of indemnifying or guaranteeing against loss or damage, or	2514
acting as surety on bonds or undertakings. "Insurance company"	2515
also includes any health insuring corporation as defined in	2516
section 1751.01 of the Revised Code.	2517

(D) "Domestic insurance company" includes every insurance	2518
company organized and existing under the laws of this state, and	2519
every unincorporated association and society formed under the laws	2520
of this state for the purpose of engaging in said business, except	2521
a company, association, or society that is an insurance holding	2522
company affiliate controlled by a nonresident affiliate and has	2523
risks in this state formerly written by its foreign affiliates in	2524
a total amount exceeding the risks outstanding on the taxpayer's	2525
latest annual report that arise from business initially written by	2526
it in this state; and excludes every foreign insurance company. As	2527
used in this division, terms defined in section 3901.32 of the	2528
Revised Code have the same meanings given to them in that section.	2529

(E) "Foreign insurance company" includes every insurance	2530
company organized or existing under the laws of any other state,	2531
territory, country, or the United States and every insurance	2532
holding company affiliate excepted under division (D) of this	2533
section.	2534

(F) "Credit union" means a nonprofit cooperative financial	2535
institution organized or chartered under the laws of this state,	2536
of another state, or of the United States.	2537

Section 2. That existing sections 109.71, 109.73, 109.79,	2538
111.15, 119.01, 1121.05, 1155.18, 1163.22, 1317.01, 1733.04,	2539
1733.16, 1733.22, 1733.24, 1733.25, 1733.251, 1733.29, 1733.30,	2540
1733.31, 1733.32, 1733.33, 1733.37, 1733.38, 1733.412, 1733.44,	2541
2101.161, 2105.31, 2109.13, 2109.372, 2109.41, 4705.09, 4973.17,	2542
4973.171, and 5725.01 of the Revised Code are hereby repealed.	2543

Section 3.  Section 119.01 of the Revised Code is presented	2544
in this act as a composite of the section as amended by both Sub.	2545
H.B. 386 and Am. Sub. S.B. 138 of the 124th General Assembly. The	2546
General Assembly, applying the principle stated in division (B) of	2547
section 1.52 of the Revised Code that amendments are to be	2548
harmonized if reasonably capable of simultaneous operation, finds	2549
that the composites are the resulting versions of the sections in	2550
effect prior to the effective date of the sections as presented in	2551
this act.	2552