Ohio Revised Code Search

...ore the commission in a proceeding involving any bank of which the member is, or was at any time in the preceding twelve months, a member of the board of directors, an officer, an employee, or a shareholder. A member may refrain from participating in a proceeding before the commission for any other cause the member considers sufficient. (D) The commission may, by a majority vote of those present at a meeting at whic...

...The banking commission shall do all of the following: (A) Make recommendations to the deputy superintendent for banks and the superintendent of financial institutions on the business of banking; (B) Consider and make recommendations on any matter the superintendent or deputy superintendent submits to the commission for that purpose; (C) Pass upon and determine any matter the superintendent or deputy superintendent...

...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 member in good faith.

...(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 determined by the superintendent of financial institutions to be appropriate under the circumstances. (B) The court shall have exclusive original jurisdiction of any action or proceeding relating t...

...(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 in its articles of incorporation, if not less than a majority. (B) Prior to instituting a voluntary liquidation, a state bank shall submit to the superintendent an application for ...

...nk. (B) Compliance with the notice and publication requirements of division (A) of this section satisfies any duplicate or similar notice and publication requirements of Chapter 1701. of the Revised Code.

...(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 has reason to conclude the liquidation of a state bank is not being safely or expeditiously conducted, the superintende...

...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 certified copy of the consent to be filed, along with the bank's dissolution documents, in the office of the secretary of state.

...eatens substantial injury to any of the public, the banking industry, or the bank's depositors or other creditors. (D) The bank has refused to submit its records of account, papers, or affairs to the inspection or examination of any federal agency or the superintendent. (E) The bank has failed to pay its deposits or obligations in accordance with the terms under which the deposits were taken or the obligations were...

...(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 include the superintendent, and thereafter may dismiss or replace the conservator as the superintendent determines necessary or advisable. The superintendent may fix the...

...(A) Upon the appointment of a conservator, the superintendent of financial institutions shall file a certified copy of the certificate of appointment in the office of the secretary of state, and thereafter no person shall obtain a lien or charge upon any assets of the state bank for any payment, advance, clearance, or liability thereafter made or incurred, nor shall the directors, officers, or agents of the bank ther...

... compromise, and defend litigation involving any right, claim, interest, or liability of the bank; (6) To exercise all fiduciary functions of the bank as of the date of appointment as conservator; (7) To borrow money as necessary in the operation of the bank, and to secure those borrowings by the pledge or mortgage of the assets of the bank; (8) To abandon or convey title to any holder of a deed of trust, mortgage...

...During the period of the conservatorship, all of the following apply: (A) The conservator may permit the state bank to continue to conduct its usual business, including the acceptance of deposits. (B) The obligations of the state bank shall continue to bear interest at the rate contracted. (C) The conservator shall make whatever reports to the superintendent of financial institutions the superintendent may from ti...

...(A) The conservator shall evaluate the business and assets of the state bank and, after conducting whatever investigations the circumstances may require, shall recommend to the superintendent of financial institutions that either the conservatorship of the bank be terminated or the superintendent appoint a receiver and the bank be liquidated as otherwise provided in this chapter. The conservator shall consult with th...

...This chapter provides the full and exclusive powers and procedures for the liquidation of state banks under the laws of this state, and no receiver or other liquidating agent shall be appointed for that purpose except as expressly provided in this chapter.

... affairs threatens injury to any of the public, the banking industry, or the bank's depositors or other creditors. (G) The bank's status as an insured institution has been terminated by the federal deposit insurance corporation. (H)(1) In the case of a stock state bank, the bank has an impairment of paid-in capital. (2) In the case of a mutual state bank, the bank has an impairment of retained earnings.

...(A) Upon issuing a written finding that any one or more of the conditions set forth in section 1125.18 of the Revised Code for taking possession of a state bank exists and taking possession of the state bank, the superintendent of financial institutions shall file a certified copy of the finding and the notice of possession with the court. (B) Upon the appointment of a receiver, the superintendent shall file a certi...

...(A) If it appears to the superintendent of financial institutions that any one or more of the conditions set forth in section 1125.18 of the Revised Code exists as to any state bank, the superintendent shall tender appointment as receiver to the federal deposit insurance corporation if any deposits in the state bank are insured by the federal deposit insurance corporation, and may tender appointment as receiver to th...

...Upon the superintendent of financial institutions' appointment of a receiver, title to all of the state bank's assets shall vest in the receiver without the execution of any instrument of conveyance, assignment, transfer, or endorsement.

... compromise, and defend litigation involving any right, claim, interest, or liability of the bank; (5) To exercise all fiduciary functions of the bank as of the date of appointment as receiver; (6) To borrow money as necessary in the liquidation of the bank, and to secure those borrowings by the pledge or mortgage of assets of the bank; (7) To abandon or convey title to any holder of a deed of trust, mortgage, or ...

...eighty days after the date of the first publication of notice of the claims procedure or after actual receipt of notice of the claims procedure, whichever occurs first. (2) Within one hundred eighty days after receipt of a claim, the receiver shall notify the claimant in writing whether the claim has been allowed or disallowed. The receiver may reject any claim in whole or in part, or may reject any claim of securi...

...(A) All claims against the state bank's estate and expenses, proved to the receiver's satisfaction or approved by the court, shall be paid in the following order: (1) Expenses of liquidation and receivership, including money borrowed under authority of division (A)(6) of section 1125.22 or division (A)(7) of section 1125.12 of the Revised Code and interest on it, and claims for fees and assessments due the superinte...

...(A) Within one hundred days after the date of the closing of a state bank, a receiver may reject any executory contract to which the bank is a party without any further liability on the part of the bank or the receiver. The receiver's election to reject an executory contract creates no claim for compensation other than compensation accrued to the date of termination or for actual damages. (B) A receiver may ratify a...

...Whenever the federal deposit insurance corporation pays or makes available for payment the insured deposit liabilities of a state bank, the federal deposit insurance corporation, whether or not it acts as receiver, shall be subrogated to the extent of the payments to all rights of depositors against the bank.

...(A) The receiver may appoint a successor to all rights, obligations, assets, deposits, agreements, and trusts held by the closed state bank as trustee, administrator, executor, guardian, agent, or in any other fiduciary or representative capacity. The successor's duties and obligations commence upon appointment to the same extent they are binding upon the former bank and as though the successor had originally assumed...