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Ohio Laws and Rules
The savings bank named in the title of the proceedings provided for in section 1165.02 of the Revised Code, within seven days after the filing of the notice provided for in division (A)(3) of that section, may make application to the court with which the notice was filed for an order requiring the superintendent of savings banks, within such time, not exceeding fifteen days, as is fixed by the court, to file in the court a writing specifying the grounds named in section 1165.01 of the Revised Code on which he has taken possession of its business and property and the operative facts found by him with respect to the taking of possession. If the superintendent does not comply with the order within the time so fixed, the liquidation proceedings shall be dismissed. Within fifteen days after the filing of the writing, the savings bank may file an answer in the proceedings, joining issue on the allegations set forth in the writing. If issue is so joined, the court, or a judge of it in vacation, shall set the proceedings down for immediate hearing upon the issue. If the court finds that the writing is sufficient in law or that the superintendent has exceeded or abused his power and discretion, it shall dismiss the liquidation proceedings and direct the superintendent to surrender the business and property to the savings bank, and the decree and order of the court shall operate to revest the title of all the property in the savings bank as of the time specified in the decree and order. An appeal may be taken from the final order of the court as in other cases. An appeal by the superintendent from a final order dismissing the proceedings shall operate as a supersedeas. The perfecting of such an appeal by the superintendent is governed by the Rules of Appellate Procedure and, to the extent not in conflict with those rules, Chapter 2505. of the Revised Code.
Effective Date: 10-23-1991