Ohio Code § 1109.03
Ohio Code § 1109.03. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1109.03.
(A) No bank shall transact business in this state unless its deposit accounts are insured
by the federal deposit insurance corporation, except a bank that by the terms of its
articles of incorporation or articles of association is not permitted to solicit or
accept deposits other than trust funds. Each bank whose deposit accounts are insured by the federal deposit insurance corporation
shall maintain that insurance as a condition of doing business in this state. (B) Each bank doing business in this state shall comply with the reserve requirements
of the “Federal Reserve Act of 1913,” as amended. (C) Any bank doing business in this state may become a member of the federal reserve
system as permitted under federal law and do all things necessary to maintain that
membership in accordance with the “Federal Reserve Act of 1913,” as amended. (D) Any bank doing business in this state may become a member of a federal home loan
bank and do all things necessary to maintain that membership in accordance with the
“Federal Home Loan Bank Act of 1932,” 47 Stat. 725, 12 U.S.C.A. 1421 , as amended. A bank may purchase and hold stock in a federal home loan bank in excess of the
amount required for membership, if that purchase and holding of stock is consistent
with the financial condition of the bank and prudent banking practice.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1109.03
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Ohio Revised Code. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Ohio attorney.
Common questions
What is the source of Ohio Revised Code § 1109.03?
The text above is transcribed from the Ohio Revised Code, the codified statutes of Ohio. The official publisher link appears under "Verify the text" on this page.
What subject does Ohio Revised Code § 1109.03 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Ohio Revised Code § 1109.03 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Ohio source before relying on this text.
Can this page be used as legal advice?
No. This is a reference transcription for research. Applying Ohio law to your facts requires a licensed Ohio attorney who can review the specifics.