Ask Reggi Your Question Now
Can you summarize OHRC Chapter 1125?
Banks-Savings and Loan Associations > Banks - Liquidations And Conservatorships
Short Summary
These legal documents govern various aspects of the liquidation and conservatorship processes for state banks in Ohio. They outline the requirements and procedures for voluntary liquidation, including the approval process, notice requirements, and the role of the superintendent of financial institutions. The documents also cover the appointment of a conservator for a state bank, including the conditions for appointment, powers and responsibilities of the conservator, and the termination of the conservatorship. Additionally, the documents address the appointment of a receiver for the liquidation of a bank, the filing and payment of claims in a bank liquidation or conservatorship, the winding up and dissolution of a state bank, the appointment of a successor to assume fiduciary or representative capacities, the automatic stay in bank liquidation or conservatorship proceedings, and damages and immunity in bank liquidation or conservatorship proceedings. These documents apply to state banks, shareholders or members of state banks, the superintendent of financial institutions, conservators, receivers, creditors, depositors, interested parties, the court of common pleas, and the federal deposit insurance corporation. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
State banks, shareholders or members of state banks, superintendent of financial institutions, conservators, receivers, creditors, depositors, interested parties, court of common pleas, federal deposit insurance corporation
What does it govern?
Voluntary liquidation process for state banks, appointment of a conservator for a state bank, powers and responsibilities of a conservator, appointment of a receiver for the liquidation of a bank, filing of claims in a bank liquidation or conservatorship, payment of claims in a bank liquidation or conservatorship, winding up and dissolution of a state bank, appointment of a successor to assume fiduciary or representative capacities, automatic stay in bank liquidation or conservatorship proceedings, damages and immunity in bank liquidation or conservatorship proceedings
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Ohio