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 1123.04 | Immunity of Banking Commission Members.
Effective: January 1, 1997 Latest Legislation: House Bill 670 – 121st General Assembly Neither the deputy superintendent for banks nor any other member of the banking commission is liable, in any civil or criminal action or proceeding, for any mistake of judgment or discretion in any action taken, or in any omission made, by 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 […]
Section 1125.03 | Voluntary Liquidation.
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 […]
Section 1125.04 | Superintendent’s Consent to Voluntary Liquidation.
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 […]
Section 1125.05 | Continued Supervision of Voluntary Dissolution.
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 […]
Section 1125.06 | Submission of Documents After Completion of Voluntary Liquidation.
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 […]
Section 1125.09 | Conditions Necessary for Appointment of Conservator.
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 […]
Section 1125.10 | Appointment of Conservator.
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 […]
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 […]