{"data":{"id":"us-oh/ohio-rev.-code-1109.021","jurisdiction":"us-oh","citation":"Ohio Rev. Code § 1109.021","heading":"Election to operate as a savings and loan association.","body":"(A) As used in this section, \"portfolio assets\" and \"qualified thrift investments\" have the same meanings as in 12 U.S.C. 1467a, as amended.\n(B) A state bank may elect to operate as a savings and loan association by filing a written notice of that election with the superintendent of financial institutions.\n(C) Upon filing an election notice, a state bank shall be considered a savings and loan association if both of the following conditions are met:\n(1) Its qualified thrift investments equal or exceed sixty-five per cent of its portfolio assets.\n(2) Its qualified thrift investments continue to equal or exceed sixty-five per cent of its assets on a monthly average basis in nine out of every twelve months.\n(D) A state bank may revoke its election notice at any time by submitting a written notice thereof to the superintendent.","path":["Title 11 Banks-Savings and Loan Associations","Chapter 1109 State Banks - Powers"],"source_url":"https://codes.ohio.gov/ohio-revised-code/section-1109.021","current_through":"2018-01-01 (House Bill 49 - 132nd General Assembly)","vintage":"","retrieved_at":"2026-09-14T19:24:28Z","sha256":"51fb5be3bd27ac8496e25481fd779793abcde43bbdc1aa0f7cda394a021b5341","source_id":"us-oh","stale":false,"prev":"us-oh/ohio-rev.-code-1109.02","next":"us-oh/ohio-rev.-code-1109.03"},"notice":"GroundRules: Original legal text. Not legal advice."}