Ohio § 1121.23

§ 1121.23.

(A) As used in this section: (1) “ Control ” means either of the following: (a) The power to vote, directly or indirectly, at least twenty-five per cent of outstanding

voting shares or voting interests of a licensee or person in control of a licensee; (b) The power to elect or appoint a majority of executive officers or directors. (2) “ Director ” means an individual elected to serve as the director of a for-profit corporation

pursuant to section 1701.55 of the Revised Code or an individual elected to serve as the director of a nonprofit corporation pursuant

to section 1702.26 of the Revised Code . (3) “ Executive officer ” means president, treasurer, secretary, any individual at or above the senior vice-president

level or its functional equivalent, any individual at the vice-president level or

its functional equivalent if the organization does not have senior vice-presidents,

and “manager” as that term is defined in section 1706.01 of the Revised Code . (4) “Incorporator” has the same meaning as in section 1701.01 of the Revised Code . (5) “Organizer” has the same meaning as in section 1706.01 of the Revised Code . (B)(1) A person is presumed to exercise control when the person holds the power to vote,

directly or indirectly, at least ten per cent of outstanding voting shares or voting

interests of a licensee or person in control of a licensee. (2) A person presumed to exercise control under division (B)(1) of this section can rebut

the presumption by establishing, by a preponderance of the evidence, that the person

is a passive investor. (C) For purposes of determining the percentage of a person controlled by any person,

the person's interest shall be aggregated with the interest of any other immediate

family member, including the person's spouse, parents, children, siblings, mothers-

and fathers-in law, sons- and daughters-in law, brothers- and sisters-in law, and

any other person who shares such person's home. (D) Whenever the approval of the superintendent of financial institutions is required

under Chapters 1101. to 1127. of the Revised Code, or under an order or supervisory

action issued or taken under those chapters, for a person to serve as an organizer,

incorporator, director, executive officer, or person who exercises control, the superintendent

shall request the superintendent of the bureau of criminal identification and investigation,

or a vendor approved by the bureau, to conduct a criminal records check based on the

person's fingerprints in accordance with section 109.572 of the Revised Code .  The superintendent of financial institutions shall request that criminal record

information from the federal bureau of investigation be obtained as part of the criminal

records check.  Any fee required under division (C)(3) of section 109.572 of the Revised Code shall be paid by the person who is the subject of the request. (E) Nothing in this section prohibits the superintendent of financial institutions from

conditionally approving a person to serve as an organizer, incorporator, director,

executive officer, or person who exercises control, subject to receiving satisfactory

results of the criminal records check.  If the superintendent does not receive the results within ninety days after the

criminal records check was requested, the superintendent may extend the conditional

approval for not more than ninety days.