Ohio Code § 1111.06
Ohio Code § 1111.06. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1111.06.
(A) Any person, other than a national bank with trust powers or a federal savings association
with trust powers, proposing to solicit or engage in trust business in this state
shall apply to the superintendent of financial institutions to be licensed as a trust
company. The superintendent shall approve or disapprove the application within sixty days
after accepting it. (B) In determining whether to approve or disapprove an application for a trust company
license, the superintendent shall consider all of the following: (1) Whether the applicant is a corporation described in division (A)(1) of section 1111.02 of the Revised Code ; (2) Whether the applicant's articles of incorporation or association authorize the applicant
to serve as a trustee; (3) If the applicant is not a state bank, whether the applicant is currently qualified
to do and is engaging in trust business in the state or country under the laws of
which the applicant is organized; (4) Whether the applicant satisfies the requirements of section 1111.05 of the Revised Code ; (5) Whether it is reasonable to believe the applicant will comply with applicable laws
and observe sound fiduciary standards in conducting trust business in this state; (6) If the applicant is not a state bank, whether the applicant is subject to comprehensive
supervision and regulation of its fiduciary activities by appropriate authorities
of the state or country under the laws of which the applicant is organized. (C) In approving an application for a trust company license, the superintendent may impose
any condition the superintendent determines to be appropriate. (D) When an applicant has satisfied all prior conditions imposed by the superintendent
in approving the applicant's application for a trust company license and has pledged
securities as required by section 1111.04 of the Revised Code , the superintendent shall issue the applicant a trust company license. A license issued pursuant to this section shall remain in force and effect until
surrendered by the licensee pursuant to section 1111.31 of the Revised Code or suspended or revoked by the superintendent pursuant to section 1111.32 of the Revised Code .
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1111.06
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
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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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What subject does Ohio Revised Code § 1111.06 address?
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Is Ohio Revised Code § 1111.06 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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