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#797111 - 08/17/07 01:32 PM Accepting Deposits Off-site
Hofferbert Offline
New Poster
Joined: Feb 2007
Posts: 3
It is my understanding that we can not accept deposits away from a branch. I would like to find this in writing. I have searched BankersOnline, the OTS website and Ohio law. The only thing that I have found is a reference under Ohio law that mentions locations that we receive, but do not accept, deposits such as lockbox, night drop, armored car pick up etc. I am not sure if this is Federal or State. Is anyone aware of the location of this law, regulation or rule?

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#799260 - 08/21/07 03:35 PM Re: Accepting Deposits Off-site Hofferbert
Bank Angler Offline
Gold Star
Bank Angler
Joined: Apr 2004
Posts: 461
Just a short drive from Lake E...
Is this what you are looking for? It is from the Ohio Revised code.

(C) “Banking office” means an office or other place at which a bank receives money or its equivalent from the public for deposit and conducts a general banking business. “Banking office” does not include any of the following:
(1) Any location at which a bank receives, but does not accept, cash or other items for subsequent deposit, such as by mail or armored car service or at a lock box or night depository;
(2) Any structure located within five hundred yards of a banking office and operated as an extension of the services of the banking office;
(3) Any automated teller machine or other money transmission device owned, leased, or operated by a bank;
(4) Any facility located within the geographical limits of a military installation at which a bank only accepts deposits and cashes checks;
(5) Any location at which a bank takes and processes applications for loans and may disburse loan proceeds, but does not accept deposits;
(6) Any location at which a bank is engaged solely in providing administrative support services for its own operations or for other depository institutions.
(D) “Branch” means a banking office that is not also the bank’s principal place of business consistent with its articles of incorporation or articles of association.

Also, check out this link.
http://codes.ohio.gov/orc/1117
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