Ohio § 1121.50
Full text of Ohio Ohio Revised Code § 1121.50, with citation guidance and answers to common questions.
§ 1121.50.
(A) As used in this section, “ independent auditor ” means an external, unaffiliated auditor who has a certified public accounting designation
that qualifies the person to provide an auditor's report. (B) The superintendent of financial institutions may, when circumstances warrant, require
a bank or trust company to have an independent auditor conduct agreed upon procedures
prescribed by the superintendent. The independent auditor shall be retained, and the expense of the agreed upon procedures
shall be paid, by the bank or trust company. The agreed upon procedures shall be conducted in accordance with standards established
by the American institute of certified public accountants. (C) The board of directors of the bank or trust company shall, within sixty days after
receipt of the report prepared by the independent auditor for the agreed upon procedures
conducted pursuant to this section, prepare a response to the report and file the
report and the board's response with the superintendent. A report and response filed with the superintendent pursuant to this section may
be disclosed only as provided in section 1121.18 of the Revised Code .
Frequently Asked Questions About Ohio § 1121.50
What does Ohio Revised Code § 1121.50 cover?
Section 1121.50 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 § 1121.50?
A common citation format is "Ohio Revised Code § 1121.50" (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 § 1121.50 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.