Ohio § 1109.47
Full text of Ohio Ohio Revised Code § 1109.47, with citation guidance and answers to common questions.
§ 1109.47.
(A) Except as provided in division (B) of this section, a state bank shall not invest
more than fifteen per cent of its capital in the shares, obligations, or other securities
of any one issuer. (B) Division (A) of this section does not apply to any of the following: (1) Bonds or other obligations enumerated in divisions (A)(1) to (6) of section 1109.32
of the Revised Code; (2) Investment in a bank subsidiary corporation engaged solely in the business of holding
title to real estate described in division (A) of section 1109.31 of the Revised Code ; (3) Obligations or securities, other than stock, of the federal national mortgage association,
the student loan marketing association, the government national mortgage association,
or the federal home loan mortgage corporation, or their successors; (4) Common and preferred stock, obligations, and other securities of one domestic reinsurance
company with the written permission of the superintendent of financial institutions
as required by division (B) of section 1109.34 of the Revised Code ; (5) Shares, obligations, securities, or other interests of any other issuer with the
written approval of the superintendent. (C) For purposes of this section, no purchase by a state bank of stock in a federal reserve
bank or federal home loan bank is an investment. (D) If a state or political subdivision of a state issues securities, acting solely as
a conduit for the transmission of the proceeds of the sale of the securities to one
or more private entities for economic development purposes and to be repaid solely
by the private entity or entities that received the proceeds of the sale of the securities,
then both of the following apply for purposes of determining the amount a state bank
may invest in accordance with division (A) of this section: (1) The securities are obligations of the private entity or entities in proportion to
their receipt of the proceeds. (2) The securities are not obligations of the issuing state or political subdivision.
Frequently Asked Questions About Ohio § 1109.47
What does Ohio Revised Code § 1109.47 cover?
Section 1109.47 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 § 1109.47?
A common citation format is "Ohio Revised Code § 1109.47" (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 § 1109.47 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.