1157.14 Special deputies and assistants.

The superintendent of building and loan associations may appoint one or more special deputy superintendents of building and loan associations to assist him in the liquidation and distribution of the assets of building and loan associations of whose business and property he has taken possession under sections 1157.01 to 1157.29, inclusive, of the Revised Code. A certificate of such appointment shall be filed in the office of the superintendent and a certified copy of such certificate shall be filed in the office of the clerk of the court of common pleas in which the proceedings for the liquidation of such an association are pending. Such special deputy superintendent may execute, acknowledge, and deliver any deeds, assignments, releases, or other instruments necessary and proper to effect any sale and transfer of or any encumbrance of real estate or personal property. Any deed or other instrument so executed is as valid and effectual for all purposes as if it had been executed by the superintendent.

The superintendent may also employ such assistants, agents, clerks, and auditors as he deems necessary in connection with the liquidation and distribution of the assets of any such building and loan association.

The superintendent shall require each such special deputy superintendent and each such assistant, agent, clerk, and auditor to give bond, in an amount and with sureties to be approved by him, and conditioned upon the faithful performance of such person’s employment. All bonds so given shall be deposited with the superintendent and kept in his office. If any surety on any such bond is a qualified surety company, the premium on such bond shall be paid as an expense of liquidation and may be allocated to the liquidation of one or more building and loan associations in such proportions as the superintendent determines.

Effective Date: 10-01-1953