Terms Used In Ohio Code > Chapter 5726 - Financial Institutions Tax

• Affiliated group: includes , but is not limited to, any person eligible to be included in a consolidated elected taxpayer group under section 5751. See Ohio Code 5726.01
• Amortization: Paying off a loan by regular installments.
• 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
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bank organization: means any of the following:

  (1) A national bank organized and operating as a national bank association pursuant to the "National Bank Act" 13 Stat. See Ohio Code 5726.01

• Call report: means the consolidated reports of condition and income prescribed by the federal financial institutions examination council that a person is required to file with a federal regulatory agency pursuant to 12 U. See Ohio Code 5726.01
• Captive finance company: means a person that derived at least seventy-five per cent of its gross income for the current taxable year and the two taxable years preceding the current taxable year from one or more of the following transactions:

  (1) Financing transactions with members of its affiliated group;

  (2) Financing transactions with or for customers of products manufactured or sold by a member of its affiliated group;

  (3) Financing transactions with or for a distributor or franchisee that sells, leases, or services a product manufactured or sold by a member of the person's affiliated group;

  (4) Financing transactions with or for a supplier to a member of the person's affiliated group in connection with the member's manufacturing business;

  (5) Issuing bonds or other publicly traded debt instruments for the benefit of the affiliated group;

  (6) Short-term or long-term investments whereby the person invests the cash reserves of the affiliated group and the affiliated group utilizes the proceeds from the investments. See Ohio Code 5726.01

• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Credit union: means a nonprofit cooperative financial institution organized or chartered under the laws of this state, any other state, or the United States. See Ohio Code 5726.01
• De novo bank organization: means a bank organization that first began operations in the taxable year preceding the current tax year or in either of the two immediately preceding taxable years. See Ohio Code 5726.01
• Document of creation: means the articles of incorporation of a corporation, articles of organization of a limited liability company, registration of a foreign limited liability company, certificate of limited partnership, registration of a foreign limited partnership, registration of a domestic or foreign limited liability partnership, or registration of a trade name. See Ohio Code 5726.01
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Financial institution: means a bank organization, a holding company of a bank organization, or a nonbank financial organization, except when one of the following applies:

  (1) If two or more such entities are consolidated for the purposes of filing an FR Y-9, "financial institution" means a group consisting of all entities that are included in the FR Y-9. See Ohio Code 5726.01

• Grandfathered unitary savings and loan holding company: means an entity described in 12 U. See Ohio Code 5726.01
• gross receipts: includes all items of income reported on the FR Y-9 filed by the holding company. See Ohio Code 5726.01
• in writing: includes any representation of words, letters, symbols, or figures; this provision does not affect any law relating to signatures. See Ohio Code 1.59
• Insurance company: means every corporation, association, and society engaged in the business of insurance of any character, or engaged in the business of entering into contracts substantially amounting to insurance of any character, or of indemnifying or guaranteeing against loss or damage, or acting as surety on bonds or undertakings. See Ohio Code 5726.01
• Internet: means the international computer network of both federal and nonfederal interoperable packet switched data networks, including the graphical subnetwork known as the world wide web. See Ohio Code 1.59
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Nonbank financial organization: means every person that is not a bank organization or a holding company of a bank organization and that engages in business primarily as a small dollar lender. See Ohio Code 5726.01
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
• Personal property: All property that is not real property.
• Property: means real and personal property. See Ohio Code 1.59
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Reporting person: means one of the following:

  (1) In the case of a financial institution described in division (H)(1) of this section, the top-tier holding company required to file an FR Y-9. See Ohio Code 5726.01

• Rule: includes regulation. See Ohio Code 1.59
• Service of process: The service of writs or summonses to the appropriate party.
• Small dollar lender: means any person engaged primarily in the business of loaning money to individuals, provided that the loan amounts do not exceed five thousand dollars and the duration of the loans do not exceed twelve months. See Ohio Code 5726.01
• state: means the state of Ohio. See Ohio Code 1.59
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Tax year: means the calendar year for which the tax levied under section 5726. See Ohio Code 5726.01
• Taxable year: means the calendar year preceding the year in which an annual report is required to be filed under section 5726. See Ohio Code 5726.01
• Taxpayer: means a financial institution subject to the tax levied under section 5726. See Ohio Code 5726.01
• Total equity capital: means the sum of the common stock at par value, perpetual preferred stock and related surplus, other surplus not related to perpetual preferred stock, retained earnings, accumulated other comprehensive income, treasury stock, unearned employee stock ownership plan shares, and other equity components of a financial institution. See Ohio Code 5726.01
• United States: includes all the states. See Ohio Code 1.59