Ohio Revised Code Search

...superintendent for banks upon two days' notice unless the commission by resolution provides for a shorter notice. (B) A majority of the full commission constitutes a quorum, and action taken by a majority of those present at a meeting at which there is a quorum constitutes the action of the commission. (C) No member shall participate before the commission in a proceeding involving any bank of which the member is, o...

...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.

...or without a hearing held upon whatever notice, if any, the court may direct, unless otherwise provided in this chapter. At a hearing, the court, by order, may approve the actions petitioned.

...(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 ...

...pliance 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.

...The superintendent of financial institutions may appoint a conservator to take possession of the property and business of a state bank and to retain possession until the bank resumes business or a receiver is appointed, as provided for in this chapter, if the superintendent finds any one or more of the following conditions: (A) The bank is in an unsafe or unsound condition to continue the business of banking. (B) T...

...(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...

...(A) A conservator, under the supervision of the superintendent of financial institutions and subject to any limitations imposed by the superintendent, shall have all of the following powers: (1) To take possession of all books, records of account, and assets of the state bank; (2) To have and exercise, in the name and on behalf of the bank, all the rights, powers, and authority of the officers and directors of the ...

...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...

...tendent shall designate the contents of notice of the vote that is to be forwarded from the conservator to the shareholders or members and shall designate the date upon which notice is to be forwarded. The date of the shareholder or member vote shall be determined by the superintendent, but shall not occur earlier than seven days or later than forty-five days after the date of the notice. If the majority of the shar...

...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.

...The superintendent of financial institutions may take possession of the property and business of a state bank if the superintendent finds any one or more of the following conditions: (A) The bank is in an unsafe or unsound condition to continue the business of banking. (B) The bank is insolvent, in that it has ceased to pay its debts in the ordinary course of business, it is incapable of paying its debts as they ma...

...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 certified copy of the certificate of appointment in the office of the secretary of state and with the court. (C) After the superintendent files the finding of the superintendent or the certificate of appointment of the receiver, whichever occurs first, no person shall ...

...(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.

...(A) A receiver shall have all of the following powers: (1) To take possession of all books, records of account, and assets of the state bank; (2) To collect all debts, claims, and judgments belonging to the bank and to take any other action, including the lending of money, necessary to preserve and liquidate the assets of the bank; (3) To execute in the name of the bank any instrument necessary or proper to effect...

...(A) The receiver shall promptly cause notice of the claims procedure to be published, in print or in a comparable electronic format, once a month for two consecutive months in a local newspaper of general circulation and to be mailed to each person whose name appears as a creditor upon the books of the state bank, at the last address of record. (B)(1) All parties having claims of any kind against the bank, includ...

...ny funds remaining after satisfying the requirements of divisions (A) and (B) of this section shall be paid to the shareholders or members. (D) Payment on claims shall be made pro rata among claims of the kind specified in each class set forth in division (A) of this section. (E) Subject to the approval of the court, the receiver may designate a separate class of claims consisting only of every unsecured claim that...

...(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.

...tment, the successor shall give written notice, insofar as practicable, to all interested parties named in the books and records of the bank or in trust documents held by it, that the successor has been appointed in accordance with state law. (C) Nothing in this section shall be construed to impair any right of the grantor or beneficiaries of trust assets to secure the appointment of a substituted trustee or manager...