1125.11 Filing certified copy of certificate of appointment. - Ohio Statutes

1125.11 Filing certified copy of certificate of appointment.

(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 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 condition to either the superintendent’s taking possession of the property and business of a bank or appointing a conservator for a bank.

Effective Date: 01-01-1997