Ohio § 1125.09

§ 1125.09.

The superintendent of financial institutions may appoint a conservator to take possession

of the property and business of a state bank and to retain possession until the bank

resumes business or a receiver is appointed, as provided for in this chapter, if the

superintendent finds any one or more of the following conditions: (A) The bank is in an unsafe or unsound condition to continue the business of banking. (B) The bank is insolvent, in that it has ceased to pay its debts in the ordinary course

of business, it is incapable of paying its debts as they mature, or it has liabilities

in excess of its assets. (C) The bank has committed a violation of law that has caused or that threatens substantial

injury to any of the public, the banking industry, or the bank's depositors or other

creditors. (D) The bank has refused to submit its records of account, papers, or affairs to the

inspection or examination of any federal agency or the superintendent. (E) The bank has failed to pay its deposits or obligations in accordance with the terms

under which the deposits were taken or the obligations were incurred. (F) A majority of the board of directors of the bank or a majority of its shareholders

or members has requested the superintendent to appoint a conservator to take possession

of the bank. (G) Either all positions on the board of directors of the bank are vacant or all of the

directors then in office are incapacitated or otherwise unable to perform their responsibilities. (H) The bank has violated any court order, statute, rule, or regulation, or its articles

of incorporation, and the superintendent determines the continued control of its own

affairs threatens injury to any of the public, the banking industry, or the bank's

depositors or other creditors. (I) The bank's status as an insured institution has been terminated by the federal deposit

insurance corporation.