Ohio Code § 1115.111
Ohio Code § 1115.111. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1115.111.
(A) Except as provided in division (C) of this section, no bank shall pay to any person,
other than reasonable compensation for services provided in the person's capacity
as an employee, any management or consulting fee, including fees for legal, accounting,
brokerage, or other similar professional services, not having a direct relationship
to the value of actual services rendered, based on reasonable costs consistent with
current market values for such services. (B) The records of the bank shall contain adequate information to permit a determination
as to what services are being provided and on what basis they are being priced. At a minimum the records shall disclose a thorough review by the board of directors
demonstrating all of the following: (1) That such fees are paid for specific services provided, as detailed in a fee analysis
presented to the board; (2) The basis for the cost for each function or service; (3) A conclusion by the board of directors that the fees are reasonable. (C) This section does not prevent a bank from paying any of the following: (1) Dividends to shareholders that have been properly declared by the bank; (2) Reasonable compensation to officers and employees of the bank for services rendered
to the bank in their capacities as officers or employees of the bank; (3) Fees to directors for their attendance at meetings of the board of directors, the
executive committee, or other committees established by the board.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1115.111
- 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 § 1115.111?
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 § 1115.111 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 § 1115.111 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.