No credit union which is not organized under sections 1733.01 to 1733.45 of the Revised Code, or the “Federal Credit Union Act,” 84 Stat. 994 (1970), 12 U.S.C. § 1751, as amended, shall transact any business in this state until:

Terms Used In Ohio Code 1733.39

  • Another: when used to designate the owner of property which is the subject of an offense, includes not only natural persons but also every other owner of property. See Ohio Code 1.02
  • Articles: includes original articles of incorporation, agreements of merger, amended articles, and amendments to any of these. See Ohio Code 1733.01
  • Credit union: means a corporation organized and qualified as such under this chapter. See Ohio Code 1733.01
  • Foreign credit union: means a credit union formed under the laws of another state which are substantially similar to this chapter. See Ohio Code 1733.01
  • State: means the United States, any state, territory, insular possession, or other political subdivision of the United States, including the District of Columbia. See Ohio Code 1733.01
  • Superintendent of credit unions: means the "division of financial institutions" the "superintendent of financial institutions of this state" or the "deputy superintendent for credit unions"; and whenever the context requires it, may be read as "director of commerce. See Ohio Code 1733.01

(A) It submits to the superintendent of credit unions an application for qualification in such form as shall be prescribed by the superintendent. Such application shall be accompanied by a copy of the articles of such credit union duly certified by, and under the seal of, the secretary of state, or other proper official, of the state under the laws of which the credit union was incorporated, which, when approved by the superintendent, shall be transmitted to the secretary of state for filing.

(B) It furnishes to the superintendent a copy of its rules duly certified by its president and secretary;

(C) It submits to the superintendent a filing fee of fifty dollars payable to the treasurer of state, which shall be credited to the division of credit unions fund; provided, that in no event shall the fees paid for qualification in this state by any credit union domiciled in another state be less than the fees required to be paid by a credit union domiciled in this state for qualification in the state of domicile of such other credit union;

(D) Obtains a license to transact business as a foreign credit union from the superintendent.

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