Ohio Code § 1109.47
Ohio Code § 1109.47. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1109.47.
(A) Except as provided in division (B) of this section, a state bank shall not invest
more than fifteen per cent of its capital in the shares, obligations, or other securities
of any one issuer. (B) Division (A) of this section does not apply to any of the following: (1) Bonds or other obligations enumerated in divisions (A)(1) to (6) of section 1109.32
of the Revised Code; (2) Investment in a bank subsidiary corporation engaged solely in the business of holding
title to real estate described in division (A) of section 1109.31 of the Revised Code ; (3) Obligations or securities, other than stock, of the federal national mortgage association,
the student loan marketing association, the government national mortgage association,
or the federal home loan mortgage corporation, or their successors; (4) Common and preferred stock, obligations, and other securities of one domestic reinsurance
company with the written permission of the superintendent of financial institutions
as required by division (B) of section 1109.34 of the Revised Code ; (5) Shares, obligations, securities, or other interests of any other issuer with the
written approval of the superintendent. (C) For purposes of this section, no purchase by a state bank of stock in a federal reserve
bank or federal home loan bank is an investment. (D) If a state or political subdivision of a state issues securities, acting solely as
a conduit for the transmission of the proceeds of the sale of the securities to one
or more private entities for economic development purposes and to be repaid solely
by the private entity or entities that received the proceeds of the sale of the securities,
then both of the following apply for purposes of determining the amount a state bank
may invest in accordance with division (A) of this section: (1) The securities are obligations of the private entity or entities in proportion to
their receipt of the proceeds. (2) The securities are not obligations of the issuing state or political subdivision.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1109.47
- 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
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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 § 1109.47 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 § 1109.47 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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