As Introduced

136th General Assembly

Regular Session H. B. No. 986

2025-2026

Representative Stephens

To enact sections 1115.30 and 1733.54 of the Revised Code to prohibit a credit union from acquiring an Ohio bank.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:

Section 1. That sections 1115.30 and 1733.54 of the Revised Code be enacted to read as follows:

Sec. 1115.30. Notwithstanding section 1733.412 of the Revised Code any other provision of the Revised Code to the contrary, a credit union chartered under Chapter 1733. of the Revised Code or a foreign credit union as defined in section 1733.01 of the Revised Code shall not acquire a bank chartered in this state or otherwise enter into a purchase and assumption agreement to purchase or acquire any of the assets or assume or acquire any of the liabilities of a bank chartered in this state as part of the subsequent dissolution or surrender of the bank's charter.

Sec. 1733.54. Notwithstanding section 1733.412 of the Revised Code or any other provision of the Revised Code to the contrary, a credit union chartered under Chapter 1733. of the Revised Code or a foreign credit union shall not acquire a bank chartered in this state or otherwise enter into a purchase and assumption agreement to purchase or acquire any of the assets or assume or acquire any of the liabilities of a bank chartered in this state as part of the subsequent dissolution or surrender of the bank's charter.