Ohio Code § 1109.26
Ohio Code § 1109.26. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1109.26.
(A)(1) A state bank may own or hold for not more than five years any real estate it acquires
by foreclosure, conveyance in lieu of foreclosure, or other legal proceedings relating
to loan security interests or otherwise in satisfaction of a debt previously contracted. The superintendent of financial institutions may, upon application by a state bank,
grant the bank the power to hold the real estate for a longer time. (2) The superintendent may, at any time, require a state bank to obtain an independent
qualified appraisal of real estate the bank owns or holds in accordance with division
(A)(1) of this section. (3) Real estate sold on contract, but with title remaining in the name of the state bank,
shall not be considered real estate held by the bank for the purpose of divisions
(A)(1) and (2) of this section. (B)(1) A state bank may own or hold for not more than five years shares of companies either
acquired in securing satisfaction of a debt previously contracted in good faith or
taken on a refinancing plan involving an investment that was legal at the time it
was made. The superintendent may, upon application by a state bank, grant the bank the power
to hold the shares for a longer time. (2) The superintendent may, at any time, require a state bank to obtain an independent
qualified appraisal of the shares the bank owns or holds in accordance with division
(B) of this section. (C) The limitations set forth in this section shall not apply to real estate or shares
owned or held by a state bank affiliate, except for a company that is a subsidiary
of the state bank.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1109.26
- 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 § 1109.26?
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 § 1109.26 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 § 1109.26 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.
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No. This is a reference transcription for research. Applying Ohio law to your facts requires a licensed Ohio attorney who can review the specifics.