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OHIO STATUTES AND CODES
1165.05 [Effective Until 9/13/2010] Notice to debtor in default.
1165.05 [Effective Until 9/13/2010] Notice to debtor in default.
At any time after taking possession of the property and business of a savings bank under section 1165.01 of the Revised Code. the superintendent of savings banks may mail a notice to any person, partnership, association, or corporation ascertained by him to be in default on any indebtedness to the savings bank, and to any shareholder of the savings bank, requiring the debtor in default or shareholder to furnish forthwith a statement of his financial condition, which statement shall be executed in duplicate, sworn to before a notary public or other officer qualified to administer oaths, and in the form prescribed by the superintendent.
Effective Date: 10-23-1991
This section is set out twice. See also § 1165.05, as amended by 128th General Assembly File No. 45, HB 292, § 1, eff. 9/13/2010.
1165.05 [Effective 9/13/2010] Supervision of superintendent; authority to take possession
(A) A voluntary liquidation of a savings bank shall be conducted only with the continued supervision of the superintendent of financial institutions. The superintendent may conduct any additional examinations of the savings bank the superintendent considers necessary or appropriate.
(B) If the superintendent has reason to conclude the liquidation of a savings bank is not being safely or expeditiously conducted, the superintendent may take possession of the business and property of the savings bank in the same manner, with the same effect, and subject to the same rights accorded the savings bank as if the superintendent had taken possession under the receivership provisions of this chapter. The superintendent may proceed to liquidate the affairs of the savings bank in the same manner as otherwise provided in this chapter.
Added by 128th General Assembly File No. 45, HB 292, § 1, eff. 9/13/2010.
Effective Date: 10-23-1991
This section is set out twice. See also § 1165.05, effective until 9/13/2010.