1157.06 [Effective Until 9/13/2010] Inventory of assets - lists of liabilities and claims - report of liquidation.
As soon as practicable after taking possession of the business and property of a domestic building and loan association, the superintendent of building and loan associations shall make an inventory of the assets of such association, showing, as to each asset, its face amount, the value at which it is carried on the books of the association, and the security for it in whatever form such security exists, with a brief description of each such asset and security. Such assets shall be listed in such groups or classes as are, in the opinion of the superintendent, proper to afford full information as to their character and book value. Such inventory shall be prepared in duplicate, one copy to be filed in the office of the superintendent and one in the office of the clerk of the court of common pleas in which the proceedings provided for in section 1157.02 of the Revised Code are pending. In compiling an inventory of assets for an insolvent depository institution, as such term is defined in section 1155.42 of the Revised Code, the superintendent may utilize schedules of assets included in the contract with a purchaser, as defined in section 1155.42 of the Revised Code.
The superintendent shall prepare a record of the liabilities of such association from its books and from the facts as such facts are ascertained by him. Upon the expiration of the time fixed for the presentation of claims by the notice provided for in division (B) of section 1157.02 of the Revised Code, the superintendent shall make in duplicate a complete list of the claims presented, of which one copy shall be filed in the office of the superintendent and one in the office of the clerk of the court of common pleas in which the liquidation proceedings are pending. The superintendent shall in like manner, at intervals of not more than six months, make and file supplemental lists showing all claims presented which have not been exhibited in any list theretofore filed. Such first list and each supplemental list shall indicate the character and disposition of each claim listed in it.
The superintendent shall give notice of the filing of each list of claims by publication once a week for two consecutive weeks in a newspaper of general circulation in the county in which the proceedings for liquidation of the business and property of such association are pending, calling upon all persons objecting to any claim set forth in such list, and not shown by such list to have been rejected by him, to present their objections in the manner provided in section 1157.08 of the Revised Code. If no such objection is filed within fifteen days after the date of the second publication, such claims shall be considered correct and all persons shall be forever barred from objecting to any such claim or to its payment; but this section does not preclude the superintendent from thereafter rejecting any such claim, in whole or in part, as provided by section 1157.07 of the Revised Code.
The inventory of assets and the statement of liabilities provided for in this section shall be permanent records of such liquidation and shall be certified to by the superintendent or a special deputy appointed to assist him in such liquidation. At the time of the order for final distribution of the assets of any such association, the superintendent shall make a detailed report in duplicate of its liquidation, showing the disposition of each asset and acquired asset, of which one copy shall be filed in the office of the superintendent and one in the office of the clerk of the court of common pleas in which the liquidation proceedings are pending. The copies of such report, such inventory, and such list of claims that are filed in the office of the clerk shall be open at all reasonable times for inspection.
If the superintendent determines that an emergency exists requiring the expeditious liquidation of an insolvent depository institution, as such term is defined in section 1155.42 of the Revised Code, or of a depository guaranty association established under former sections 1151.80 to 1151.92 of the Revised Code, in order to protect the interests of depositors of a savings and loan association, in lieu of the procedures provided for in the second and third paragraphs of this section the superintendent shall file a list of all claims made, and other claims recognized by the superintendent, with the office of the clerk of the court of common pleas in which the liquidation proceedings are pending, such filing to be not later than three days after the last day for presentation of claims as provided in division (B) of section 1157.02 of the Revised Code. The superintendent shall thereafter give notice of such list of claims by publications once a week for two consecutive weeks in a newspaper of general circulation in the county in which the liquidation proceedings are pending. If no objection is filed within five days after the date of the second publication, all persons, other than the superintendent, shall be forever barred from objecting to any such claim or its payment.
Effective Date: 05-21-1985
This section is set out twice. See also § 1157.06, as amended by 128th General Assembly File No. 45, HB 292, § 1, eff. 9/13/2010.
1157.06 [Effective 9/13/2010] 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 Chapter 1701. of the Revised Code for a dissolution. The superintendent shall consent to the dissolution, and shall cause a certified copy of the consent to be filed, along with the savings and loan association’s dissolution documents, in the office of the secretary of state.
Added by 128th General Assembly File No. 45, HB 292, § 1, eff. 9/13/2010.
Effective Date: 05-21-1985
This section is set out twice. See also § 1157.06, effective until 9/13/2010.
1157.06 [Effective Until 9/13/2010] Inventory of assets - lists of liabilities and claims - report of liquidation.
As soon as practicable after taking possession of the business and property of a domestic building and loan association, the superintendent of building and loan associations shall make an inventory of the assets of such association, showing, as to each asset, its face amount, the value at which it is carried on the books of the association, and the security for it in whatever form such security exists, with a brief description of each such asset and security. Such assets shall be listed in such groups or classes as are, in the opinion of the superintendent, proper to afford full information as to their character and book value. Such inventory shall be prepared in duplicate, one copy to be filed in the office of the superintendent and one in the office of the clerk of the court of common pleas in which the proceedings provided for in section 1157.02 of the Revised Code are pending. In compiling an inventory of assets for an insolvent depository institution, as such term is defined in section 1155.42 of the Revised Code, the superintendent may utilize schedules of assets included in the contract with a purchaser, as defined in section 1155.42 of the Revised Code.
The superintendent shall prepare a record of the liabilities of such association from its books and from the facts as such facts are ascertained by him. Upon the expiration of the time fixed for the presentation of claims by the notice provided for in division (B) of section 1157.02 of the Revised Code, the superintendent shall make in duplicate a complete list of the claims presented, of which one copy shall be filed in the office of the superintendent and one in the office of the clerk of the court of common pleas in which the liquidation proceedings are pending. The superintendent shall in like manner, at intervals of not more than six months, make and file supplemental lists showing all claims presented which have not been exhibited in any list theretofore filed. Such first list and each supplemental list shall indicate the character and disposition of each claim listed in it.
The superintendent shall give notice of the filing of each list of claims by publication once a week for two consecutive weeks in a newspaper of general circulation in the county in which the proceedings for liquidation of the business and property of such association are pending, calling upon all persons objecting to any claim set forth in such list, and not shown by such list to have been rejected by him, to present their objections in the manner provided in section 1157.08 of the Revised Code. If no such objection is filed within fifteen days after the date of the second publication, such claims shall be considered correct and all persons shall be forever barred from objecting to any such claim or to its payment; but this section does not preclude the superintendent from thereafter rejecting any such claim, in whole or in part, as provided by section 1157.07 of the Revised Code.
The inventory of assets and the statement of liabilities provided for in this section shall be permanent records of such liquidation and shall be certified to by the superintendent or a special deputy appointed to assist him in such liquidation. At the time of the order for final distribution of the assets of any such association, the superintendent shall make a detailed report in duplicate of its liquidation, showing the disposition of each asset and acquired asset, of which one copy shall be filed in the office of the superintendent and one in the office of the clerk of the court of common pleas in which the liquidation proceedings are pending. The copies of such report, such inventory, and such list of claims that are filed in the office of the clerk shall be open at all reasonable times for inspection.
If the superintendent determines that an emergency exists requiring the expeditious liquidation of an insolvent depository institution, as such term is defined in section 1155.42 of the Revised Code, or of a depository guaranty association established under former sections 1151.80 to 1151.92 of the Revised Code, in order to protect the interests of depositors of a savings and loan association, in lieu of the procedures provided for in the second and third paragraphs of this section the superintendent shall file a list of all claims made, and other claims recognized by the superintendent, with the office of the clerk of the court of common pleas in which the liquidation proceedings are pending, such filing to be not later than three days after the last day for presentation of claims as provided in division (B) of section 1157.02 of the Revised Code. The superintendent shall thereafter give notice of such list of claims by publications once a week for two consecutive weeks in a newspaper of general circulation in the county in which the liquidation proceedings are pending. If no objection is filed within five days after the date of the second publication, all persons, other than the superintendent, shall be forever barred from objecting to any such claim or its payment.
Effective Date: 05-21-1985
This section is set out twice. See also § 1157.06, as amended by 128th General Assembly File No. 45, HB 292, § 1, eff. 9/13/2010.
1157.06 [Effective 9/13/2010] 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 Chapter 1701. of the Revised Code for a dissolution. The superintendent shall consent to the dissolution, and shall cause a certified copy of the consent to be filed, along with the savings and loan association’s dissolution documents, in the office of the secretary of state.
Added by 128th General Assembly File No. 45, HB 292, § 1, eff. 9/13/2010.
Effective Date: 05-21-1985
This section is set out twice. See also § 1157.06, effective until 9/13/2010.
1157.06 [Effective Until 9/13/2010] Inventory of assets - lists of liabilities and claims - report of liquidation.
As soon as practicable after taking possession of the business and property of a domestic building and loan association, the superintendent of building and loan associations shall make an inventory of the assets of such association, showing, as to each asset, its face amount, the value at which it is carried on the books of the association, and the security for it in whatever form such security exists, with a brief description of each such asset and security. Such assets shall be listed in such groups or classes as are, in the opinion of the superintendent, proper to afford full information as to their character and book value. Such inventory shall be prepared in duplicate, one copy to be filed in the office of the superintendent and one in the office of the clerk of the court of common pleas in which the proceedings provided for in section 1157.02 of the Revised Code are pending. In compiling an inventory of assets for an insolvent depository institution, as such term is defined in section 1155.42 of the Revised Code, the superintendent may utilize schedules of assets included in the contract with a purchaser, as defined in section 1155.42 of the Revised Code.
The superintendent shall prepare a record of the liabilities of such association from its books and from the facts as such facts are ascertained by him. Upon the expiration of the time fixed for the presentation of claims by the notice provided for in division (B) of section 1157.02 of the Revised Code, the superintendent shall make in duplicate a complete list of the claims presented, of which one copy shall be filed in the office of the superintendent and one in the office of the clerk of the court of common pleas in which the liquidation proceedings are pending. The superintendent shall in like manner, at intervals of not more than six months, make and file supplemental lists showing all claims presented which have not been exhibited in any list theretofore filed. Such first list and each supplemental list shall indicate the character and disposition of each claim listed in it.
The superintendent shall give notice of the filing of each list of claims by publication once a week for two consecutive weeks in a newspaper of general circulation in the county in which the proceedings for liquidation of the business and property of such association are pending, calling upon all persons objecting to any claim set forth in such list, and not shown by such list to have been rejected by him, to present their objections in the manner provided in section 1157.08 of the Revised Code. If no such objection is filed within fifteen days after the date of the second publication, such claims shall be considered correct and all persons shall be forever barred from objecting to any such claim or to its payment; but this section does not preclude the superintendent from thereafter rejecting any such claim, in whole or in part, as provided by section 1157.07 of the Revised Code.
The inventory of assets and the statement of liabilities provided for in this section shall be permanent records of such liquidation and shall be certified to by the superintendent or a special deputy appointed to assist him in such liquidation. At the time of the order for final distribution of the assets of any such association, the superintendent shall make a detailed report in duplicate of its liquidation, showing the disposition of each asset and acquired asset, of which one copy shall be filed in the office of the superintendent and one in the office of the clerk of the court of common pleas in which the liquidation proceedings are pending. The copies of such report, such inventory, and such list of claims that are filed in the office of the clerk shall be open at all reasonable times for inspection.
If the superintendent determines that an emergency exists requiring the expeditious liquidation of an insolvent depository institution, as such term is defined in section 1155.42 of the Revised Code, or of a depository guaranty association established under former sections 1151.80 to 1151.92 of the Revised Code, in order to protect the interests of depositors of a savings and loan association, in lieu of the procedures provided for in the second and third paragraphs of this section the superintendent shall file a list of all claims made, and other claims recognized by the superintendent, with the office of the clerk of the court of common pleas in which the liquidation proceedings are pending, such filing to be not later than three days after the last day for presentation of claims as provided in division (B) of section 1157.02 of the Revised Code. The superintendent shall thereafter give notice of such list of claims by publications once a week for two consecutive weeks in a newspaper of general circulation in the county in which the liquidation proceedings are pending. If no objection is filed within five days after the date of the second publication, all persons, other than the superintendent, shall be forever barred from objecting to any such claim or its payment.
Effective Date: 05-21-1985
This section is set out twice. See also § 1157.06, as amended by 128th General Assembly File No. 45, HB 292, § 1, eff. 9/13/2010.
1157.06 [Effective 9/13/2010] 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 Chapter 1701. of the Revised Code for a dissolution. The superintendent shall consent to the dissolution, and shall cause a certified copy of the consent to be filed, along with the savings and loan association’s dissolution documents, in the office of the secretary of state.
Added by 128th General Assembly File No. 45, HB 292, § 1, eff. 9/13/2010.
Effective Date: 05-21-1985
This section is set out twice. See also § 1157.06, effective until 9/13/2010.
