1165.09 Appraising assets.

For the purpose of establishing a value on assets of a savings bank in process of liquidation under this chapter, which are intended to be sold or exchanged, the superintendent of savings banks may have the assets appraised, at the time of the sale or exchange, by three appraisers, of whom one shall be selected by him, one shall be selected by the court of common pleas in which the proceedings for the liquidation are pending or by a judge thereof, and one shall be named by the two so chosen. The value fixed by two of the appraisers shall be accepted as the value of the assets for the purpose of the sale or exchange, but if no two of the appraisers agree as to the value, the superintendent may accept the average of the separate values fixed by all of the appraisers. The superintendent, if unable by sale or exchange to secure for any asset the value assigned to it in the original appraisal, may order a reappraisal by the method provided in this section, with the consent of the court. All expenses of appraisals made under this section shall be paid out of the funds of the savings bank whose assets are so appraised.

Effective Date: 10-23-1991