Effective: January 1, 2018
Latest Legislation: House Bill 49 - 132nd General Assembly
(A) If the superintendent of financial institutions consents to a voluntary liquidation, the superintendent shall cause a certified copy of the consent to be filed in the office of 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 claimants against the bank.
(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.
Structure Ohio Revised Code
Title 11 | Banks-Savings and Loan Associations
Chapter 1125 | Banks - Liquidations and Conservatorships
Section 1125.01 | Jurisdiction of Court.
Section 1125.03 | Voluntary Liquidation.
Section 1125.04 | Superintendent's Consent to Voluntary Liquidation.
Section 1125.05 | Continued Supervision of Voluntary Dissolution.
Section 1125.06 | Submission of Documents After Completion of Voluntary Liquidation.
Section 1125.09 | Conditions Necessary for Appointment of Conservator.
Section 1125.10 | Appointment of Conservator.
Section 1125.11 | Filing Certified Copy of Certificate of Appointment.
Section 1125.12 | Powers of Conservator.
Section 1125.13 | Conduct of Business During Conservatorship.
Section 1125.14 | Recommendation of Conservator.
Section 1125.17 | Full and Exclusive Powers and Procedures for Liquidation of Banks.
Section 1125.18 | Conditions Necessary for Taking Possession of State Bank Property and Business.
Section 1125.19 | Filing Certified Copy of Certificate of Appointment.
Section 1125.20 | Appointment as Receiver to Federal Deposit Insurance Corporation.
Section 1125.21 | Title Vested in Receiver.
Section 1125.22 | Powers of Receiver.
Section 1125.23 | Presenting and Disposing of Claims.
Section 1125.24 | Paying Claims.
Section 1125.25 | Election to Reject or Ratify and Assign Executory Contract.
Section 1125.26 | Subrogation Rights of Federal Deposit Insurance Corporation.
Section 1125.27 | Receiver May Appoint Successor.
Section 1125.28 | Filing Operates as Automatic Stay.
Section 1125.29 | Order Declaring Bank Properly Wound Up and Dissolved.