Ohio § 1116.19
Full text of Ohio Ohio Revised Code § 1116.19, with citation guidance and answers to common questions.
§ 1116.19.
(A) The board of directors of a mutual holding company may from time to time, by a majority
vote of the directors, do both of the following: (1) Divide equitably any surplus that is in excess of the amount required for the operations
of the mutual holding company or to maintain the safety and soundness of the mutual
holding company; (2) Distribute that surplus to the respective depositors of its subsidiary stock state
banks in accordance with their membership rights. (B) If the superintendent of financial institutions determines that the surplus held
by a mutual holding company is excessive, the superintendent may order the board of
directors of the mutual holding company to make the distribution described in division
(A) of this section.
Frequently Asked Questions About Ohio § 1116.19
What does Ohio Revised Code § 1116.19 cover?
Section 1116.19 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 § 1116.19?
A common citation format is "Ohio Revised Code § 1116.19" (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 § 1116.19 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.