Ohio § 1109.03
Full text of Ohio Ohio Revised Code § 1109.03, with citation guidance and answers to common questions.
§ 1109.03.
(A) No bank shall transact business in this state unless its deposit accounts are insured
by the federal deposit insurance corporation, except a bank that by the terms of its
articles of incorporation or articles of association is not permitted to solicit or
accept deposits other than trust funds. Each bank whose deposit accounts are insured by the federal deposit insurance corporation
shall maintain that insurance as a condition of doing business in this state. (B) Each bank doing business in this state shall comply with the reserve requirements
of the “Federal Reserve Act of 1913,” as amended. (C) Any bank doing business in this state may become a member of the federal reserve
system as permitted under federal law and do all things necessary to maintain that
membership in accordance with the “Federal Reserve Act of 1913,” as amended. (D) Any bank doing business in this state may become a member of a federal home loan
bank and do all things necessary to maintain that membership in accordance with the
“Federal Home Loan Bank Act of 1932,” 47 Stat. 725, 12 U.S.C.A. 1421 , as amended. A bank may purchase and hold stock in a federal home loan bank in excess of the
amount required for membership, if that purchase and holding of stock is consistent
with the financial condition of the bank and prudent banking practice.
Frequently Asked Questions About Ohio § 1109.03
What does Ohio Revised Code § 1109.03 cover?
Section 1109.03 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 § 1109.03?
A common citation format is "Ohio Revised Code § 1109.03" (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 § 1109.03 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.