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Current as of January 01, 2024 | Updated by Findlaw Staff
Prior to soliciting or engaging in trust business in this state, and at all times while engaging in trust business in this state, a trust company shall have all of the following:
(A) Individual, schedule, or blanket fidelity bonds in favor of the trust company covering each of the trust company's employees and officers in an amount reasonable for the size and nature of the trust company's business;
(B) Capital, in combination with other financial support such as insurance in favor of the trust company against errors and omissions by any of the trust company's employees and officers, adequate for the size and nature of the trust company's business;
(C) Management and personnel adequate in number and qualifications for the size and nature of the trust company's business.
Cite this article: FindLaw.com - Ohio Revised Code Title XI. Banks Savings and Loan Associations § 1111.05 - last updated January 01, 2024 | https://codes.findlaw.com/oh/title-xi-banks-savings-and-loan-associations/oh-rev-code-sect-1111-05/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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