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Current as of January 01, 2024 | Updated by FindLaw Staff
Each reorganization plan submitted with a mutual holding company reorganization application shall contain a description of all significant terms of the proposed reorganization and include all of the following:
(A) Any proposed stock issuance plan;
(B) An opinion of counsel, or a ruling from the United States internal revenue service and the Ohio department of taxation, as to the federal and state tax treatment of the proposed reorganization;
(C) A copy of the articles of incorporation and code of regulations of the proposed mutual holding company, the resulting stock state bank, and any affiliate organizations in the holding company structure;
(D) A description of the method of reorganization under this chapter;
(E) A statement that, upon consummation of the reorganization, certain assets and liabilities, including all deposit accounts of the reorganizing mutual state bank, shall be transferred to the resulting stock state bank, which bank shall immediately become a stock state bank subsidiary of the mutual holding company or subsidiary holding company;
(F) A summary of the expenses to be incurred in connection with the reorganization;
(G) Any other information required by the superintendent of financial institutions.
Cite this article: FindLaw.com - Ohio Revised Code Title XI. Banks Savings and Loan Associations § 1116.07 - last updated January 01, 2024 | https://codes.findlaw.com/oh/title-xi-banks-savings-and-loan-associations/oh-rev-code-sect-1116-07.html
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 or via Westlaw before relying on it for your legal needs.
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