Ohio § 1119.11
Full text of Ohio Ohio Revised Code § 1119.11, with citation guidance and answers to common questions.
§ 1119.11.
(A) When a foreign bank engages in an activity or undertakes an action through an agency
or branch licensed under this chapter, the foreign bank is subject to the same limitations
on and requirements of engaging in the activity or taking the action that apply to
a state bank. (B)(1) A foreign bank licensed to operate an agency shall not accept deposits from citizens
or residents of the United States or exercise fiduciary powers. An account that carries a credit balance in connection with the distribution of
loan proceeds is not a deposit for purposes of this section. (2) A foreign bank licensed to operate an agency may, in addition to conducting all of
the permissible activities of a representative office set forth in division (B) of section 1119.06 of the Revised Code , conduct limited banking activities at or through a licensed agency, including all
of the following: (a) Lending money; (b) Maintaining credit balances that are incidental to or arise out of the distribution
of loan proceeds; (c) Receiving funds as agent to be forwarded for deposit to an existing account at another
office authorized to accept deposits. (C) A foreign bank licensed to operate a branch may, in addition to conducting all of
the permissible activities of a representative office set forth in division (B) of section 1119.06 of the Revised Code and all of the permissible activities of an agency set forth in division (B)(2) of
this section, conduct the following activities at or through a licensed branch: (1) Accepting deposits, the acceptance of which does not constitute engaging in domestic
retail deposit activities; (2) If qualified under Chapter 1111. of the Revised Code, exercising fiduciary powers; (3) Other activities authorized for state banks. (D) Each foreign bank licensed to operate an agency or branch shall, in the manner the
superintendent of financial institutions prescribes, give notice to the agency's or
branch's customers that deposits with that agency or branch are not insured by the
federal deposit insurance corporation or otherwise.
Frequently Asked Questions About Ohio § 1119.11
What does Ohio Revised Code § 1119.11 cover?
Section 1119.11 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 1119.11?
A common citation format is "Ohio Revised Code § 1119.11" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1119.11 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.