Current through all regulations passed and filed through September 16, 2024
(A) A bank that intends to close a banking
office shall do all of the following:
(1) Not
less than ninety days prior to the effective date of the banking office
closing:
(a) Give written notice to each
person who is either a depositor or a holder of a safety deposit box at the
banking office. The notice shall state the address of the closing office, the
effective date of the closing and the locations of the bank's closest offices.
The bank may send one notice to a person who is both a depositor and safety
deposit box holder. The notice required by this paragraph may be sent by
ordinary mail or may be included with any regularly mailed statement of account
activity.
(b) File a written notice
of the banking office closing with the superintendent of financial institutions
that indicates the location of the closing banking office and effective date of
the closing.
(2) Not
less than thirty days prior to the effective date of the closing, the bank
shall post a notice of the closing in a conspicuous manner on the premises of
and on any money transmission device, such as an automated teller machine, at
the banking office to be closed stating the effective date of the closing and
the locations of the bank's closest offices. The notice shall remain posted
continuously until the banking office is closed. If the bank will maintain a
money transmission device at the same location after the banking office
closing, the bank may include that fact in the notice posted and in the notices
required by paragraph (A)(1) of this rule.
(B)
(1) If
federal law requires a bank to take actions regarding written notices that meet
or exceed the requirements of paragraphs (A)(1)(a) and (A)(2) of this rule,
then taking actions required under federal law will satisfy the requirements of
paragraphs (A)(1)(a) and (A)(2) of this rule.
(2) If federal law requires a bank to give
written notice to its federal regulator that meets or exceeds the requirements
of paragraph (A)(1)(b) of this rule, then the bank may satisfy the requirements
of paragraph (A)(1)(b) of this rule by submitting the same notice to the
superintendent that the bank submitted to its federal regulator.
(C) For purposes of paragraph
(A)(1) of this rule, a person is a depositor of the banking office to be
relocated if the records of the bank show that person's account as having been
opened at, or transferred to, the banking office. "Depositor" does not include
a person whose account was closed or transferred prior to the time written
notice is required to be sent under this rule.
(D) The bank shall notify the superintendent
in writing if the effective date of the closing stated in the notice required
by paragraph (A)(1)(b) of this rule changes. When a banking office is
officially closed, it cannot be reopened. If at some later date the bank
proposes to establish a banking office at the same location, the bank shall
submit a new application pursuant to section
1117.02
of the Revised Code.
(E) In
addition to the specific requirements of this rule, the superintendent may at
any time require of the bank any other information or actions the
superintendent deems necessary or relevant under the circumstances of the
closing.
(F) In emergency
circumstances, the superintendent may modify or waive any requirements of this
rule.
Effective: 8/6/2015
Five Year Review (FYR) Dates:
05/20/2015 and
08/06/2020
Promulgated
Under:
119.03
Statutory Authority:
1121.03
Rule Amplifies:
1117.04
Prior Effective Dates: 6/8/81, 9/19/88, 7/11/94, 2/14/99
