Section 1125.18 | Conditions Necessary for Taking Possession of State Bank Property and Business.
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 […]
Section 1125.19 | Filing Certified Copy of Certificate of Appointment.
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 […]
Section 1125.20 | Appointment as Receiver to Federal Deposit Insurance Corporation.
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 […]
Section 1125.21 | Title Vested in Receiver.
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.
Section 1125.22 | Powers of Receiver.
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 […]
Section 1125.23 | Presenting and Disposing of Claims.
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 […]
Section 1125.24 | Paying Claims.
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 […]
Section 1125.11 | Filing Certified Copy of Certificate of Appointment.
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 […]
Section 1125.12 | Powers of Conservator.
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 […]
Section 1125.01 | Jurisdiction of Court.
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 […]