Ohio § 1125.18
Full text of Ohio Ohio Revised Code § 1125.18, with citation guidance and answers to common questions.
§ 1125.18.
The superintendent of financial institutions may take possession of the property and
business of a state bank 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 refused to submit its records or affairs to the inspection or examination
of any federal bank regulatory agency or the superintendent. (D) 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. (E) A majority of the board of directors of the bank has requested the superintendent
to appoint a receiver to take possession of the bank for the benefit of account holders,
creditors, shareholders, or members. (F) The bank has violated any order of a court or of the superintendent, any 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. (G) The bank's status as an insured institution has been terminated by the federal deposit
insurance corporation. (H)(1) In the case of a stock state bank, the bank has an impairment of paid-in capital. (2) In the case of a mutual state bank, the bank has an impairment of retained earnings.
Frequently Asked Questions About Ohio § 1125.18
What does Ohio Revised Code § 1125.18 cover?
Section 1125.18 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 1125.18?
A common citation format is "Ohio Revised Code § 1125.18" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1125.18 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.