2006 Ohio Revised Code - 1111.05. Fidelity bond, capitalization, management and personnel requirements.

§ 1111.05. Fidelity bond, capitalization, management and personnel requirements.
 

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. 
 

HISTORY: 146 v H 538. Eff 1-1-97.
 

Not analogous to former RC § 1111.05 (132 v S 97), repealed 146 v H 538, § 2, eff 1-1-97.

The effective date is set by section 10 of HB 538.