Ohio Revised Code Search

...(A) If a state bank is undercapitalized, the superintendent of financial institutions shall notify the bank of the fact of the undercapitalization. The superintendent may require the bank to submit a written capital restoration plan to the superintendent within forty-five days after the bank receives that notice, unless the superintendent authorizes in writing a longer period of time. (B) A capital restoration plan ...

...Neither the superintendent of financial institutions, any employee, agent, or contractor of the division of financial institutions, or any supervisor appointed by the superintendent under this chapter is liable in any civil, criminal, or administrative proceeding for any mistake of judgment or discretion in any action taken, or any omission made, in good faith within the scope of the person's official capacity as ass...

...mming, or printing error. (B) A state bank, trust company, or regulated person shall not be held civilly liable in any action brought under Title XI or under Chapter 1309., 1317., or 1345. of the Revised Code, and shall not be subject to any sanction by the superintendent of financial institutions, if all of the following conditions are met: (1) The bank, trust company, or person shows by a preponderance of evid...

...he division of financial institutions a banking commission which shall consist of nine members. The deputy superintendent for banks shall be a member of the commission and its chairperson. The governor, with the advice and consent of the senate, shall appoint the remaining eight members. (B) After the second Monday in January of each year, the governor shall appoint two members. Terms of office shall be for four yea...

...(A) The banking commission shall hold regular meetings at the times and places it fixes, and shall meet at any time on call of the deputy 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 act...

...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.

... 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 to or arising out of the taking of possession of the property and business of a state bank under...

...(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 ...

...f the secretary of state, and the state bank to be liquidated shall do both of the following: (1) Publish a notice of the voluntary liquidation once a week for four consecutive weeks in a newspaper of general circulation in the county in which the bank's principal place of business is located; (2) Give written notice of the voluntary liquidation, either personally or by mail, to all known creditors of and all known...

...(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...

...ntary 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.

...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) The bank is insolvent, in that it has ceased to pay its debts in the ordinary course of bus...

...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 compensation to be paid the conservator and the amount of the bond or other security, if any, to be required. (B) The superintendent ma...

... 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 thereafter have authority to act on behalf of the bank or to convey, transfer, assign, pledge, mortgage, or encumber any of the bank's assets. (B) The filing of the certificate of appointment in accordance with this section shall not be a...

...rds 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 bank and all voting rights of its shareholders or members; (3) To collect all debts, claims, and judgments belonging to the bank and to take any other action, including the lending of money, necessary to the operation of the bank du...

...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 time to time require.

...te 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 the board of directors of the bank...

...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.

...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 mature, or it has liabilities in excess of its assets. (C) The ban...

...d 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 certified copy of the certificate of appointment in the office of the secretary of state and with the court. (C) After t...

...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 the federal deposit insurance corporation in any other case. Upon acceptance of the appointment as receiver, the federal deposit insurance ...

...f 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.

...rds 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 effectuate the receiver's powers or perform its duties as receiver; (4) To initiate, pursue, compromis...

... 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, including prior judgments and claims of security, preference, priority, and offset, shall present their claims substantiated by legal proof to the receiver within one hundred eighty days after the date of the first publication of notice of the claims procedure or after actual ...