Ohio Admin. Code 1301:1-4-13 - Agency agreement between bank and affiliate and unaffiliated depository institutions
(A) Subject to paragraphs (C), (D), (E) and
(F) of this rule, a bank may contract to receive deposits, renew time deposits,
close loans, service loans, and receive payment on loans and other obligations
for its customers through an affiliate depository institution, at any and all
offices of the affiliate depository institution, without being required to
obtain the prior written approval of the superintendent of financial
institutions.
(B) A bank that
wants to contract to provide services other than those listed in paragraph (A)
of this rule or to provide services to its customers through an unaffiliated
depository institution must individually seek prior approval from the
superintendent in accordance with section
1117.05 of the Revised Code.
(C) A bank may not contract to
establish new deposit accounts, extend credit, or create new banking
relationships through offices of agent depository institutions.
(D) A bank may not, as agent or as principal
through its agent, conduct any activity which the bank is prohibited from
conducting under applicable federal or state law.
(E) All agreements to act as agent pursuant
to this rule shall be in writing and address the nature of the services to be
provided and the rights and responsibilities of each party.
(F) Any agency relationship shall be on terms
that are consistent with safe and sound practices.
(G) The banking office of the depository
institution acting as agent pursuant to this rule and section
1117.05 of the Revised Code is
not considered to be a branch of the contracting depository institution.
Notes
Promulgated Under: 119.03
Statutory Authority: 1121.03
Rule Amplifies: 1117.05
Prior Effective Dates: 07/28/2001
Promulgated Under: 119.03
Statutory Authority: 1121.03
Rule Amplifies: 1117.05
Prior Effective Dates: 07/28/2001
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