Ohio Code § 1114.05
Ohio Code § 1114.05. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1114.05.
(A) As used in the section, “ authorized capital ” means the initial funding required to organize a mutual state bank. (B) The authorized capital of a mutual state bank shall be of such amount as the superintendent
of financial institutions may determine based upon the amount and character of the
anticipated business of the bank and the safety of prospective depositors. In addition, the superintendent may, in the superintendent's discretion, fix the
amount of the expense fund for operating losses to be created by nonrefundable contributions. (C) The organization of the mutual state bank may be completed when a sum equal to five
per cent of the authorized capital, as determined by the superintendent, is paid in
and the names and addresses of its officers, its code of regulations, and its bylaws
have been filed with and approved by the superintendent. (D) Five years after the mutual state bank commences business, any remaining balance
in the expense fund shall be transferred to retained earnings, if the bank is on a
profitable operating basis as determined by the superintendent.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1114.05
- 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 § 1114.05?
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 § 1114.05 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 § 1114.05 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Statutes are amended, repealed, and renumbered every session.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.