Ohio Code § 1733.242
Ohio Code § 1733.242. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1733.242.
(A) On the terms and conditions the credit union prescribes, a credit union may do all
of the following: (1) Provide safes, vaults, safe deposit boxes, night depositories, and other secure receptacles
for the uses, purposes, and benefits of its members; (2) Receive tangible property and evidence of tangible or intangible property for safekeeping
using the credit union's safes, vaults, secure receptacles, or safekeeping system;
the safes, vaults, secure receptacles, or safekeeping system of another credit union;
or the safekeeping system of a safekeeping agent or custodian. (B)(1) A credit union may enter into an agreement to rent a safe deposit box to a minor
and accept the appointment of a minor as agent or deputy on any deposit or safe deposit
box by any person, including a minor, maintaining the deposit or safe deposit box. (2) When a credit union enters into a safe deposit box rental agreement with a minor
pursuant to division (B)(1) of this section, all of the following apply: (a) The terms and conditions of the safe deposit box rental agreement are binding on
the minor the same as a person of legal age who rents a safe deposit box. (b) The relationship between the credit union and the minor regarding the safe deposit
box rental agreement is in all respects the same as if the minor were a person of
legal age. (c) The credit union shall incur no liability for any transaction regarding the safe
deposit box solely because of doing business with a minor. (3) Nothing in divisions (B)(1) and (2) of this section shall be construed to limit the
parental rights provided under section 2111.08 of the Revised Code or to limit the rights of a guardian appointed pursuant to Chapter 2111. of the Revised
Code. (C) The superintendent of financial institutions shall promulgate rules to qualify a
credit union, safekeeping agent, or custodian that may receive from another credit
union tangible property and evidence of tangible or intangible property for safekeeping
pursuant to division (A) of this section.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1733.242
- 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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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 § 1733.242 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 § 1733.242 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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