Ohio Revised Code Chapter 1157 - Possession Of Savings And Loan Associations By Superintendent

• Section 1157.01 - Court Defined; Jurisdiction.
  (A) As used in this chapter, "court" means the court of common pleas of the county in which the principal place of business of...
• Section 1157.02 - Superintendent May Take Possession Of Savings And Loan Association - Procedure.
  If upon examination the superintendent of savings and loan associations finds that the affairs of a domestic savings and loan association are in an...
• Section 1157.03 - Voluntary Liquidation.
  (A) A savings and loan association may proceed with a voluntary liquidation and be closed only with both the consent of the superintendent of...
• Section 1157.04 - Filing Of Consent; Notice.
  (A) If the superintendent of financial institutions consents to a voluntary liquidation, the superintendent shall cause a certified copy of the consent to be...
• Section 1157.05 - Supervision Of Superintendent; Authority To Take Possession.
  (A) A voluntary liquidation of a savings and loan association shall be conducted only with the continued supervision of the superintendent of financial institutions....
• Section 1157.06 - Completion Of Voluntary Liquidation; Dissolution.
  Upon completion of a voluntary liquidation, the liquidated savings and loan association shall submit to the superintendent of financial institutions all documents required under...
• Section 1157.07 - Rejection Of Claims By Superintendent.
  If the superintendent of building and loan associations doubts the justice or validity of any claim against an association of whose business and property...
• Section 1157.08 - Objections To Claims Not Rejected By Superintendent.
  Objection to any claim against an association of whose business and property the superintendent of building and loan associations has taken possession under section...
• Section 1157.09 - Appointment Of Conservator.
  The superintendent of financial institutions may appoint a conservator to take possession of the property and business of a savings and loan association and...
• Section 1157.10 - Compensation For Conservator; Appointment Of Agents; Termination Of Conservatorship.
  (A) If it appears to the superintendent of financial institutions that any one or more of the conditions set forth in section 1157.09 of...
• Section 1157.11 - Filing 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...
• Section 1157.12 - Powers Of Conservator.
  (A) A conservator, under the supervision of the superintendent of financial institutions and subject to any limitations imposed by the superintendent, shall have all...
• Section 1157.13 - Period Of Conservatorship.
  During the period of the conservatorship, all of the following apply: (A) The conservator may permit the savings and loan association to continue to...
• Section 1157.14 - Evaluation By Conservator; Recommendations; Plan To Restructure.
  (A) The conservator shall evaluate the business and assets of the savings and loan association and, after conducting whatever investigations the circumstances may require,...
• Section 1157.15 - Application To Court For Instructions.
  The superintendent of building and loan associations, upon taking possession of the property and business of any domestic building and loan association under sections...
• Section 1157.16 - Deposit Of Moneys Collected.
  The moneys and funds collected by the superintendent of savings and loan associations in the process of liquidating a savings and loan association under...
• Section 1157.17 - Powers Under Chapter Exclusive.
  This chapter provides the full and exclusive powers and procedures for the liquidation of savings and loan associations under the laws of this state,...
• Section 1157.18 - When Superintendent May Take Possession.
  The superintendent of financial institutions may take possession of the property and business of a savings and loan association if the superintendent finds any...
• Section 1157.19 - Filing Of Findings And Certificate Of Appointment Of Receiver.
  (A) Upon issuing a written finding that any one or more of the conditions set forth in section 1157.18 of the Revised Code for...
• Section 1157.20 - Appointment Of Federal Deposit Insurance Corporation As Receiver; Appointment Of Agents.
  (A) If it appears to the superintendent of financial institutions that any one or more of the conditions set forth in section 1157.18 of...
• Section 1157.21 - Vesting Of Title.
  Upon the superintendent of financial institutions' appointment of a receiver, title to all of the savings and loan association's assets shall vest in the...
• Section 1157.22 - Powers Of Receiver.
  (A) A receiver shall have all of the following powers: (1) To take possession of all books, records of account, and assets of the...
• Section 1157.23 - Notice Of Claims Procedure; Filing Of Claims; Time Limitations.
  (A) The receiver shall promptly cause notice of the claims procedure to be published once a month for two consecutive months in a local...
• Section 1157.24 - Priority Of Claims.
  (A) All claims against the savings and loan association's estate and expenses, proved to the receiver's satisfaction or approved by the court, shall be...
• Section 1157.25 - Rejection, Ratification Or Assignment Of Executory Contracts.
  (A) Within one hundred days after the date of the closing of a savings and loan association, a receiver may reject any executory contract...
• Section 1157.26 - Federal Deposit Insurance Corporation; Subrogation Of Rights.
  Whenever the federal deposit insurance corporation pays or makes available for payment the insured deposit liabilities of a savings and loan association, the federal...
• Section 1157.27 - Appointment Of Successor.
  (A) The receiver may appoint a successor to all rights, obligations, assets, deposits, agreements, and trusts held by the closed savings and loan association...
• Section 1157.28 - Effect Of Filing Superintendent's Findings Or Certificate Of Appointment Of Receiver.
  (A) The filing with the court of the finding of the superintendent of financial institutions or the certificate of appointment of the receiver, whichever...
• Section 1157.29 - Order Declaring Savings And Loan Association Properly Wound Up And Resolved.
  (A) When a receiver has completed the liquidation of a savings and loan association, the receiver shall, with notice to the superintendent of financial...
• Section 1157.30 - Destruction Of Records.
  Subject to the approval of the court, the receiver may destroy the records of the savings and loan association after the receiver determines there...
• Section 1157.33 - Actions For Damages; Limitations On Liability.
  (A) No damages may be awarded in a proceeding brought pursuant to this chapter challenging any action by the superintendent of financial institutions, special...

Last modified: October 10, 2016