Ohio § 1119.16
Full text of Ohio Ohio Revised Code § 1119.16, with citation guidance and answers to common questions.
§ 1119.16.
(A)(1) Except as provided in division (A)(2) of this section, each foreign bank licensed
to operate a representative office, agency, or branch in this state shall do all of
the following: (a) Maintain in this state all of each licensed representative office's, agency's, or
branch's records. (b) Segregate each licensed representative office's, agency's, or branch's records from
all of the foreign bank's and its affiliates' other records; (c) Maintain each licensed representative office's, agency's, or branch's assets separate
and apart from the foreign bank's other assets. (2) A foreign bank that operates more than one licensed representative office, agency,
or branch in this state may, as permitted by the superintendent of financial institutions,
do both of the following: (a) Combine the records of those licensed representative offices, agencies, and branches
and maintain the records at one location in this state; (b) Collectively maintain the assets of those licensed representative offices, agencies,
and branches. (B) All deposits of money, or its equivalent, in any agency or branch licensed under
this chapter shall be entered on the agency's or branch's books in terms of money
of the United States. (C) The superintendent may prescribe the manner and form of keeping the books and records
of representative offices, agencies, and branches licensed under this chapter. (D) The superintendent may retain, at the expense of the foreign bank, any advisors necessary
to assist in the review or examination of the records and affairs of any representative
office, agency, or branch of a foreign bank licensed under this chapter.
Frequently Asked Questions About Ohio § 1119.16
What does Ohio Revised Code § 1119.16 cover?
Section 1119.16 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 § 1119.16?
A common citation format is "Ohio Revised Code § 1119.16" (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 § 1119.16 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.