(a) "Bank" means a retail service establishment, that is a corporation or similar entities and is operated under authority granted by the regulating authority of a state or federal government, whose principal business is to provide for the everyday financial transactions of businesses and individuals which includes most or all of the following: receives demand deposits and timed deposits, honors instruments drawn on them, and pays interest on them; discounts notes, makes loans, and invests in securities; certifies depositor's checks; and issues drafts and cashier's checks.
(b) "Credit union" means a retail service establishment that is a nonprofit cooperative financial institution with the general powers conferred upon such corporations or similar entities by the laws of the State of Ohio or of another state and whose principal business is to provide for the everyday financial transactions of its members.
(c) "Savings association" means a retail service establishment that is a savings and loan association doing business under authority granted by the superintendent of financial institutions in accordance with the Ohio Revised Code, or, under the authority granted by the regulatory authority of another state or a federal savings association.
(Ord. 2019-39. Passed 8-13-19.)