Section 1121.47 | Superintendent – Order and Subpoena Powers.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) The superintendent of financial institutions may do both of the following: (1) Summon and compel, by order or subpoena, witnesses to appear before the superintendent, deputy superintendent, examiner, attorney, or such other person designated by the superintendent and testify under oath […]
Section 1121.48 | Suits and Court Proceedings.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) All suits and court proceedings brought by the superintendent of financial institutions shall be brought in the name of the state upon the superintendent’s relation, and shall be conducted by the attorney general or a designee of the attorney general. (B) […]
Section 1121.50 | Independent Auditor.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) As used in this section, “independent auditor” means an external, unaffiliated auditor who has a certified public accounting designation that qualifies the person to provide an auditor’s report. (B) The superintendent of financial institutions may, when circumstances warrant, require a bank […]
Section 1121.51 | Action to Secure Condition of Assets.
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) The superintendent of financial institutions may do either of the following: (1) If, in the superintendent’s judgment, the condition of an asset warrants, require the bank to do any of the following: (a) Establish specific reserves against the asset : (b) […]
Section 1121.52 | Impaired Capital.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) If a state bank is undercapitalized, the superintendent of financial institutions shall notify the bank of the fact of the undercapitalization. The superintendent may require the bank to submit a written capital restoration plan to the superintendent within forty-five days after […]
Section 1121.56 | Immunity.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly Neither the superintendent of financial institutions, any employee, agent, or contractor of the division of financial institutions, or any supervisor appointed by the superintendent under this chapter is liable in any civil, criminal, or administrative proceeding for any mistake of judgment or […]
Section 1121.61 | Bona Fide Errors.
Effective: March 20, 2019 Latest Legislation: House Bill 489 – 132nd General Assembly (A) As used in this section, “bona fide error” means an unintentional clerical, calculation, computer malfunction or programming, or printing error. (B) A state bank, trust company, or regulated person shall not be held civilly liable in any action brought under Title […]
Section 1121.41 | Notice of Charges and Intent to Issue Supervision Order.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) The superintendent of financial institutions may issue and serve a notice of charges and intent to issue an order placing a bank or trust company under supervision and appointing a supervisor for the bank or trust company, if, in the opinion […]
Section 1121.43 | Monthly Publication by Superintendent of Violations.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Except as provided in division (B) of this section, the superintendent of financial institutions shall make available to the public on a monthly basis all of the following: (1) Any written agreement or other writing for which a violation may be […]
Section 1121.45 | Meeting With Regulated Persons.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) The superintendent of financial institutions may call and convene a meeting with the regulated persons the superintendent determines to be appropriate at a location within this state and at a date and time established by the superintendent upon notice served in […]