1165.29 [Effective Until 9/13/2010] Applying to set aside order to liquidate, rehabilitate or reorganize.
Any savings bank aggrieved by an order of the superintendent of savings banks issued under section 1165.23 or 1165.24 of the Revised Code, within thirty days after receiving the order, may apply to the court of common pleas of the county in which the principal office of the savings bank is located to set aside the order and to enjoin the further enforcement of it.
Any savings bank aggrieved by an action of the superintendent under section 1165.23 of the Revised Code divesting its board of directors of the control of its business and property and taking possession of the business and property for complete liquidation may apply, within fifteen days after the action has been taken, to the court to enjoin the action of the superintendent and to restore to the savings bank the rights and powers previously enjoyed by it under that section.
Any savings bank aggrieved by the action of the superintendent in disapproving any plan of rehabilitation or plan of reorganization submitted under section 1165.24 of the Revised Code may apply, within fifteen days after the disapproval, to the court to approve the plan.
After any application is made to it under this section, the court shall cite the superintendent to show cause why the application should not be granted. After hearing the allegations and proofs of the parties and determining the facts, the court may dismiss the application. If, after the hearing, the court finds that the superintendent has exceeded or abused his power and discretion in issuing the order, taking the action, or refusing to approve the plan as set forth in section 1165.24 of the Revised Code, it may issue an order as it considers necessary and proper, including the enjoining of the superintendent from further proceedings. An appeal by the superintendent from the order shall operate as a supersedeas and shall be perfected in accordance with the Rules of Appellate Procedure and, to the extent not in conflict with those rules, Chapter 2505. of the Revised Code.
Effective Date: 10-23-1991
This section is set out twice. See also § 1165.29, as amended by 128th General Assembly File No. 45, HB 292, § 1, eff. 9/13/2010.
1165.29 [Effective 9/13/2010] Order declaring savings and loan association properly wound up and resolved
(A) When a receiver has completed the liquidation of a savings bank, the receiver shall, with notice to the superintendent of financial institutions, petition the court for an order declaring the savings bank properly wound up and dissolved.
(B) After whatever notice and hearing, if any, the court may direct, the court may make an order declaring the savings bank properly wound up and dissolved. The order shall do both of the following, to the extent applicable:
(1) Declare all of the following:
(a) The savings bank has been properly wound up.
(b) All known assets of the savings bank have been distributed according to the distribution priorities set forth in this chapter.
(c) The savings bank is dissolved.
(2) If there are known debts or liabilities, describe the provision made for their payment, setting forth whatever information may be necessary to enable the creditor or other person to whom payment is to be made to appear and claim payment of the debt or liability.
(C) The order shall confirm a plan by the receiver for the disposition or maintenance of any remaining real or personal property or other assets, whether held in trust or otherwise and including the contents of safe deposit boxes or vaults, held by the savings bank for its account holders, creditors, lessees, or shareholders. The plan shall include written notice to all known owners or beneficiaries of the assets, to be sent by first class mail to each individual’s address as shown on the records of the savings bank.
(D) The court may make whatever additional orders and grant whatever further relief it determines proper upon the evidence submitted.
(E) Once the order is made declaring the savings bank dissolved, the corporate existence of the savings bank shall cease, except for purposes of any necessary additional winding up.
(F) Once the order is made declaring the savings bank dissolved, the receiver shall promptly file a copy of the order, certified by the clerk of the court, with both the secretary of state and the superintendent.
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 § 1165.29, effective until 9/13/2010.
1165.29 [Effective Until 9/13/2010] Applying to set aside order to liquidate, rehabilitate or reorganize.
Any savings bank aggrieved by an order of the superintendent of savings banks issued under section 1165.23 or 1165.24 of the Revised Code, within thirty days after receiving the order, may apply to the court of common pleas of the county in which the principal office of the savings bank is located to set aside the order and to enjoin the further enforcement of it.
Any savings bank aggrieved by an action of the superintendent under section 1165.23 of the Revised Code divesting its board of directors of the control of its business and property and taking possession of the business and property for complete liquidation may apply, within fifteen days after the action has been taken, to the court to enjoin the action of the superintendent and to restore to the savings bank the rights and powers previously enjoyed by it under that section.
Any savings bank aggrieved by the action of the superintendent in disapproving any plan of rehabilitation or plan of reorganization submitted under section 1165.24 of the Revised Code may apply, within fifteen days after the disapproval, to the court to approve the plan.
After any application is made to it under this section, the court shall cite the superintendent to show cause why the application should not be granted. After hearing the allegations and proofs of the parties and determining the facts, the court may dismiss the application. If, after the hearing, the court finds that the superintendent has exceeded or abused his power and discretion in issuing the order, taking the action, or refusing to approve the plan as set forth in section 1165.24 of the Revised Code, it may issue an order as it considers necessary and proper, including the enjoining of the superintendent from further proceedings. An appeal by the superintendent from the order shall operate as a supersedeas and shall be perfected in accordance with the Rules of Appellate Procedure and, to the extent not in conflict with those rules, Chapter 2505. of the Revised Code.
Effective Date: 10-23-1991
This section is set out twice. See also § 1165.29, as amended by 128th General Assembly File No. 45, HB 292, § 1, eff. 9/13/2010.
1165.29 [Effective 9/13/2010] Order declaring savings and loan association properly wound up and resolved
(A) When a receiver has completed the liquidation of a savings bank, the receiver shall, with notice to the superintendent of financial institutions, petition the court for an order declaring the savings bank properly wound up and dissolved.
(B) After whatever notice and hearing, if any, the court may direct, the court may make an order declaring the savings bank properly wound up and dissolved. The order shall do both of the following, to the extent applicable:
(1) Declare all of the following:
(a) The savings bank has been properly wound up.
(b) All known assets of the savings bank have been distributed according to the distribution priorities set forth in this chapter.
(c) The savings bank is dissolved.
(2) If there are known debts or liabilities, describe the provision made for their payment, setting forth whatever information may be necessary to enable the creditor or other person to whom payment is to be made to appear and claim payment of the debt or liability.
(C) The order shall confirm a plan by the receiver for the disposition or maintenance of any remaining real or personal property or other assets, whether held in trust or otherwise and including the contents of safe deposit boxes or vaults, held by the savings bank for its account holders, creditors, lessees, or shareholders. The plan shall include written notice to all known owners or beneficiaries of the assets, to be sent by first class mail to each individual’s address as shown on the records of the savings bank.
(D) The court may make whatever additional orders and grant whatever further relief it determines proper upon the evidence submitted.
(E) Once the order is made declaring the savings bank dissolved, the corporate existence of the savings bank shall cease, except for purposes of any necessary additional winding up.
(F) Once the order is made declaring the savings bank dissolved, the receiver shall promptly file a copy of the order, certified by the clerk of the court, with both the secretary of state and the superintendent.
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 § 1165.29, effective until 9/13/2010.
1165.29 [Effective Until 9/13/2010] Applying to set aside order to liquidate, rehabilitate or reorganize.
Any savings bank aggrieved by an order of the superintendent of savings banks issued under section 1165.23 or 1165.24 of the Revised Code, within thirty days after receiving the order, may apply to the court of common pleas of the county in which the principal office of the savings bank is located to set aside the order and to enjoin the further enforcement of it.
Any savings bank aggrieved by an action of the superintendent under section 1165.23 of the Revised Code divesting its board of directors of the control of its business and property and taking possession of the business and property for complete liquidation may apply, within fifteen days after the action has been taken, to the court to enjoin the action of the superintendent and to restore to the savings bank the rights and powers previously enjoyed by it under that section.
Any savings bank aggrieved by the action of the superintendent in disapproving any plan of rehabilitation or plan of reorganization submitted under section 1165.24 of the Revised Code may apply, within fifteen days after the disapproval, to the court to approve the plan.
After any application is made to it under this section, the court shall cite the superintendent to show cause why the application should not be granted. After hearing the allegations and proofs of the parties and determining the facts, the court may dismiss the application. If, after the hearing, the court finds that the superintendent has exceeded or abused his power and discretion in issuing the order, taking the action, or refusing to approve the plan as set forth in section 1165.24 of the Revised Code, it may issue an order as it considers necessary and proper, including the enjoining of the superintendent from further proceedings. An appeal by the superintendent from the order shall operate as a supersedeas and shall be perfected in accordance with the Rules of Appellate Procedure and, to the extent not in conflict with those rules, Chapter 2505. of the Revised Code.
Effective Date: 10-23-1991
This section is set out twice. See also § 1165.29, as amended by 128th General Assembly File No. 45, HB 292, § 1, eff. 9/13/2010.
1165.29 [Effective 9/13/2010] Order declaring savings and loan association properly wound up and resolved
(A) When a receiver has completed the liquidation of a savings bank, the receiver shall, with notice to the superintendent of financial institutions, petition the court for an order declaring the savings bank properly wound up and dissolved.
(B) After whatever notice and hearing, if any, the court may direct, the court may make an order declaring the savings bank properly wound up and dissolved. The order shall do both of the following, to the extent applicable:
(1) Declare all of the following:
(a) The savings bank has been properly wound up.
(b) All known assets of the savings bank have been distributed according to the distribution priorities set forth in this chapter.
(c) The savings bank is dissolved.
(2) If there are known debts or liabilities, describe the provision made for their payment, setting forth whatever information may be necessary to enable the creditor or other person to whom payment is to be made to appear and claim payment of the debt or liability.
(C) The order shall confirm a plan by the receiver for the disposition or maintenance of any remaining real or personal property or other assets, whether held in trust or otherwise and including the contents of safe deposit boxes or vaults, held by the savings bank for its account holders, creditors, lessees, or shareholders. The plan shall include written notice to all known owners or beneficiaries of the assets, to be sent by first class mail to each individual’s address as shown on the records of the savings bank.
(D) The court may make whatever additional orders and grant whatever further relief it determines proper upon the evidence submitted.
(E) Once the order is made declaring the savings bank dissolved, the corporate existence of the savings bank shall cease, except for purposes of any necessary additional winding up.
(F) Once the order is made declaring the savings bank dissolved, the receiver shall promptly file a copy of the order, certified by the clerk of the court, with both the secretary of state and the superintendent.
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 § 1165.29, effective until 9/13/2010.
