Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) As used in this chapter, “court” means the court of common pleas of the county in which the principal place of business of a state bank, as set forth in its articles of incorporation, is located or of any other county […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A state bank may proceed with a voluntary liquidation and be closed only with both the consent of the superintendent of financial institutions and the prior approval of the shareholders or members of the bank by a vote as provided for […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) If the superintendent of financial institutions consents to a voluntary liquidation, the superintendent shall cause a certified copy of the consent to be filed in the office of the secretary of state, and the state bank to be liquidated shall do […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A voluntary liquidation of a state bank shall be conducted only with the continued supervision of the superintendent of financial institutions. The superintendent may conduct any additional examinations of the bank the superintendent considers necessary or appropriate. (B) If the superintendent […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly Upon completion of a voluntary liquidation, the liquidated state bank shall submit to the superintendent of financial institutions all documents required under Chapter 1701. of the Revised Code for a dissolution. The superintendent shall consent to the dissolution, and shall cause a […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly The superintendent of financial institutions may appoint a conservator to take possession of the property and business of a state bank and to retain possession until the bank resumes business or a receiver is appointed, as provided for in this chapter, if […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) If it appears to the superintendent of financial institutions that any one or more of the conditions set forth in section 1125.09 of the Revised Code exists as to any state bank, the superintendent may appoint a conservator, which appointment may […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Upon the appointment of a conservator, the superintendent of financial institutions shall file a certified copy of the certificate of appointment in the office of the secretary of state, and thereafter no person shall obtain a lien or charge upon any […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A conservator, under the supervision of the superintendent of financial institutions and subject to any limitations imposed by the superintendent, shall have all of the following powers: (1) To take possession of all books, records of account, and assets of the […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly During the period of the conservatorship, all of the following apply: (A) The conservator may permit the state bank to continue to conduct its usual business, including the acceptance of deposits. (B) The obligations of the state bank shall continue to bear […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) The conservator shall evaluate the business and assets of the state bank and, after conducting whatever investigations the circumstances may require, shall recommend to the superintendent of financial institutions that either the conservatorship of the bank be terminated or the superintendent […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly This chapter provides the full and exclusive powers and procedures for the liquidation of state banks under the laws of this state, and no receiver or other liquidating agent shall be appointed for that purpose except as expressly provided in this chapter.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly The superintendent of financial institutions may take possession of the property and business of a state bank if the superintendent finds any one or more of the following conditions: (A) The bank is in an unsafe or unsound condition to continue the […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Upon issuing a written finding that any one or more of the conditions set forth in section 1125.18 of the Revised Code for taking possession of a state bank exists and taking possession of the state bank, the superintendent of financial […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) If it appears to the superintendent of financial institutions that any one or more of the conditions set forth in section 1125.18 of the Revised Code exists as to any state bank, the superintendent shall tender appointment as receiver to the […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly Upon the superintendent of financial institutions’ appointment of a receiver, title to all of the state bank’s assets shall vest in the receiver without the execution of any instrument of conveyance, assignment, transfer, or endorsement.
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A receiver shall have all of the following powers: (1) To take possession of all books, records of account, and assets of the state bank; (2) To collect all debts, claims, and judgments belonging to the bank and to take any […]
Effective: March 20, 2019 Latest Legislation: House Bill 489 – 132nd General Assembly (A) The receiver shall promptly cause notice of the claims procedure to be published, in print or in a comparable electronic format, once a month for two consecutive months in a local newspaper of general circulation and to be mailed to each […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) All claims against the state bank’s estate and expenses, proved to the receiver’s satisfaction or approved by the court, shall be paid in the following order: (1) Expenses of liquidation and receivership, including money borrowed under authority of division (A)(6) of […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Within one hundred days after the date of the closing of a state bank, a receiver may reject any executory contract to which the bank is a party without any further liability on the part of the bank or the receiver. […]
