Ohio § 1733.20
Full text of Ohio Ohio Revised Code § 1733.20, with citation guidance and answers to common questions.
§ 1733.20.
(A) The officers of the credit union shall consist of a president, a secretary, a treasurer,
and, if desired, a chairman of the board, a vice chairman of the board, one or more
vice-presidents, and such other officers and assistant officers as is provided for
in the regulations, bylaws, or by resolution of the board of directors. The officers shall be elected by directors. The chairman and vice chairman of the board of directors shall be directors. Unless the articles or regulations otherwise provide, none of the other officers
need be a director. (B) Any two offices may be held by the same person, but no officer shall execute, acknowledge,
or verify any instrument in more than one capacity if such instrument is required
by law or by the articles, regulations, or bylaws, to be executed, acknowledged, or
verified by two or more officers. (C) Unless the articles or regulations otherwise provide, all officers shall be elected
annually. (D) Any officer may be removed, with or without cause, by the directors without prejudice
to the contract rights of such officer. The election or appointment of an officer for a given term, or a general provision
in the articles, regulations, or bylaws with respect to term of office, shall not
be deemed to create contract rights. (E) Except with the written consent of the superintendent of credit unions, no person
shall serve as an officer of a credit union, if the person is convicted of a felony
or any criminal offense involving dishonesty or a breach of trust. (F) A credit union shall not retain the services of a person who is presently serving
as a senior management official of another credit union, unless either of the following
conditions has been met: (1) If the person presently serves as a senior management official of a credit union
having assets of less than five million dollars, the credit union, prior to retaining
the person's services, notifies the superintendent in writing that it intends to appoint
the person to a position of a senior management official. (2) If the person presently serves as a senior management official of a credit union
having assets of five million dollars or more, the credit union has obtained the approval
of the superintendent to appoint the person to a position of a senior management official.
Frequently Asked Questions About Ohio § 1733.20
What does Ohio Revised Code § 1733.20 cover?
Section 1733.20 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 § 1733.20?
A common citation format is "Ohio Revised Code § 1733.20" (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 § 1733.20 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.