Ohio Code § 1733.34
Ohio Code § 1733.34. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1733.34.
(A) Any credit union may, with the approval of the superintendent of credit unions, merge
with any other credit union under the existing charter of the other credit union,
pursuant to any plan approved by the board of directors of each credit union joining
in the merger, and approved by a majority of the members of each credit union represented
at a meeting of members in person, by ballot, or by proxy, duly called for such purpose,
at which a quorum of the entire membership is present, unless such meeting of members
of either credit union has been waived by the superintendent. The superintendent may waive the members' vote if it is in the interest of the members,
credit union, or for any other reason the superintendent deems proper. After such approval of the board and members of each credit union, the president
or chairperson of the board and secretary of each credit union shall execute a certificate
of merger, which shall set forth all of the following: (1) The time and place of the meeting of the board of directors at which the plan was
agreed upon; (2) The vote in favor of adoption of the plan; (3) A copy of the resolution or other action by which the plan was agreed upon; (4) The time and place of the meeting of the members at which the plan agreed upon was
approved; (5) The vote by which the plan was approved by the members. (B) Such certificates and a copy of the plan of merger agreed upon shall be forwarded
to the superintendent and, upon approval, returned to the merging credit unions. (C) Upon any such merger so effected, all property, property rights, and interests of
the merged credit unions shall vest in the surviving credit union without deed, endorsement,
or other instrument of transfer, and all debts, obligations, and liabilities of the
merged credit unions shall be deemed to have been assumed by the surviving credit
union under whose charter the merger was effected. (D) This section shall be construed, whenever possible, to permit a credit union chartered
under any other act to merge with one chartered under this act. (E) All persons and associations eligible for membership, as provided in section 1733.05 of the Revised Code , of both credit unions effecting a merger shall be deemed to have a common bond of
association.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1733.34
- 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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What subject does Ohio Revised Code § 1733.34 address?
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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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