Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly Whenever the federal deposit insurance corporation pays or makes available for payment the insured deposit liabilities of a state bank, the federal deposit insurance corporation, whether or not it acts as receiver, shall be subrogated to the extent of the payments to […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) The receiver may appoint a successor to all rights, obligations, assets, deposits, agreements, and trusts held by the closed state bank as trustee, administrator, executor, guardian, agent, or in any other fiduciary or representative capacity. The successor’s duties and obligations commence […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) The filing with the court of the finding of the superintendent of financial institutions or the certificate of appointment of the receiver, whichever occurs first, operates as an automatic stay from the date of the filing, subject to the court granting […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) When a receiver has completed the liquidation of a state bank, the receiver shall, with notice to the superintendent of financial institutions, petition the court for an order declaring the bank properly wound up and dissolved. (B) After whatever notice and […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly Subject to the approval of the court, the receiver may destroy the records of the state bank in accordance with section 1109.69 of the Revised Code after the receiver determines there is no further need for them. However, the receiver shall not […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) No damages may be awarded in a proceeding brought pursuant to this chapter challenging any action by the superintendent of financial institutions, special deputy superintendent, receiver, or conservator, or any employee of any of them, or any person retained for services […]
