Ohio Code § 1116.19
Ohio Code § 1116.19. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1116.19.
(A) The board of directors of a mutual holding company may from time to time, by a majority
vote of the directors, do both of the following: (1) Divide equitably any surplus that is in excess of the amount required for the operations
of the mutual holding company or to maintain the safety and soundness of the mutual
holding company; (2) Distribute that surplus to the respective depositors of its subsidiary stock state
banks in accordance with their membership rights. (B) If the superintendent of financial institutions determines that the surplus held
by a mutual holding company is excessive, the superintendent may order the board of
directors of the mutual holding company to make the distribution described in division
(A) of this section.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1116.19
- 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 § 1116.19?
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 § 1116.19 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 § 1116.19 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Statutes are amended, repealed, and renumbered every session.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.