1165.14 Appointing special deputy superintendents.

The superintendent of savings banks may appoint one or more special deputy superintendents of savings banks to assist him in the liquidation and distribution of the assets of savings banks of whose business and property he has taken possession under this chapter. A certificate of the appointment shall be filed in the office of the superintendent and a certified copy of the certificate shall be filed in the office of the clerk of the court of common pleas in which the proceedings for the liquidation of the savings bank are pending. The 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 effectual for all purposes as if it had been executed by the superintendent.

The superintendent also may employ such assistants, agents, clerks, and auditors as he considers necessary in connection with the liquidation and distribution of the assets of any such savings bank.

The superintendent shall require each special deputy superintendent and each 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 that person’s employment. All bonds so given shall be deposited with the superintendent and kept in his office. If any surety on the bond is a qualified surety company, the premium on the bond shall be paid as an expense of liquidation and may be allocated to the liquidation of one or more savings banks in such proportions as the superintendent determines.

Effective Date: 10-23-1991