The creditors of a foreign bank‘s licensed agencies or branches in this state shall be entitled to priority over other creditors of the foreign bank with respect to any claims against the assets of the foreign bank’s business in this state.

Terms Used In Ohio Code 1119.24

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Foreign bank: includes , without limitation, a foreign commercial bank, foreign merchant bank, or other foreign institution that engages in banking activities usually conducted in connection with the business of banking in the country that granted its charter or countries where the foreign institution is operating. See Ohio Code 1119.01
  • state: means the state of Ohio. See Ohio Code 1.59

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