The following apply to a reorganization plan adopted by the board of directors of the reorganizing mutual state bank or any acquiree mutual bank:

Terms Used In Ohio Code 1116.13

  • Acquiree mutual bank: means any state bank, savings association, or savings bank that meets both of the following conditions:

    (1) It is acquired by a mutual holding company as part of, and concurrently with, a mutual holding company reorganization. See Ohio Code 1116.01

  • Reorganization plan: means the plan to reorganize into a mutual holding company structure described in section 1116. See Ohio Code 1116.01
  • Reorganizing mutual state bank: means a mutual state bank that proposes to reorganize into a mutual holding company structure in accordance with this chapter. See Ohio Code 1116.01
  • state: means the state of Ohio. See Ohio Code 1.59

(A) It may be amended by those boards as a result of any regulator’s comments before any solicitation of proxies from the members to vote on the reorganization plan or, with the written consent of the superintendent of financial institutions, at any later time.

(B) It may be terminated by either board at any time before the meeting at which the members vote on the reorganization plan or, with the written consent of the superintendent, at any later time.

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