Ohio Code § 1119.14

§ 1119.14.

(A) No license issued to a foreign bank under this chapter is transferable or assignable. (B) When a foreign bank licensed under this chapter is to be a constituent in a reorganization

in which the foreign bank will not be the resulting corporation, or is to sell a representative

office, agency, or branch the foreign bank is licensed to operate in this state, prior

to the reorganization or sale, both of the following must be done, whether or not

the resulting or acquiring corporation will continue to conduct business at any location

where the foreign bank being acquired or selling the representative office, agency,

or branch is conducting business: (1) The corporation that is to be the resulting corporation in the reorganization or

the acquiring corporation shall do either of the following: (a) Obtain an appropriate license to conduct the activities it proposes to conduct in

this state and make all changes to conform the business being acquired to the requirements

and limitations of the license obtained; (b) Obtain the approval of the superintendent of financial institutions to consolidate

the representative office, agency, or branch being acquired with another representative

office, agency, or branch appropriately licensed, whether under this chapter or otherwise,

to conduct the business of the representative office being acquired. (2) The foreign bank licensed to operate the representative office, agency, or branch

shall voluntarily surrender the license to operate the representative office, agency,

or branch in accordance with section 1119.26 of the Revised Code .