Effective: January 1, 2018
Latest Legislation: House Bill 49 - 132nd General Assembly
(A) No damages may be awarded in a proceeding brought pursuant to this chapter challenging any action by the superintendent of financial institutions, special deputy superintendent, receiver, or conservator, or any employee of any of them, or any person retained for services under this chapter. Any action for damages shall be brought in the court as a separate action.
(B) The superintendent, special deputy superintendent, receiver, conservator, or any employee of any of them, or any person retained for services under this chapter, is not subject to any civil liability or penalty, or to any criminal prosecution, for any error in judgment or discretion made in good faith in any action taken or omitted in an official capacity under this chapter.
(C) The superintendent, special deputy superintendent, receiver, conservator, or any employee of any of them, or any person retained for services under this chapter, is not liable in damages for any action or failure to act unless it is proved by clear and convincing evidence in court that the action or failure to act involved an act or omission undertaken with deliberate intent to cause injury to any of the state bank, its shareholders, its members, its depositors, or its creditors, or undertaken with reckless disregard for the best interests of any of the bank, its shareholders, its members, its depositors, its creditors, or the public.
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.