OH HB612

Amends Ohio Revised Code section 1761.10 to clarify that special assessments and special premium assessments apply only to credit unions the corporation insures for primary coverage

Creates new dissolution procedures for credit union share guaranty corporations that are 501(c)(6) nonprofit organizations when dissolution is caused by reasons outside the corporation's control

Requires capital contributions to be returned first to participating credit unions that are members on the date the dissolution certificate is filed with the secretary of state

Allows remaining assets after capital contribution returns to transfer to any surviving wholly owned subsidiary of the corporation, or if none exists, to be distributed to participating credit unions based on share balances

Grants participating credit unions shareholder recognition in any surviving wholly owned subsidiary proportional to their share balances, minus outstanding debts owed to the corporation