Ohio § 1125.23
Full text of Ohio Ohio Revised Code § 1125.23, with citation guidance and answers to common questions.
§ 1125.23.
(A) The receiver shall promptly cause notice of the claims procedure to be published,
in print or in a comparable electronic format, once a month for two consecutive months
in a local newspaper of general circulation and to be mailed to each person whose
name appears as a creditor upon the books of the state bank, at the last address of
record. (B)(1) All parties having claims of any kind against the bank, including prior judgments
and claims of security, preference, priority, and offset, shall present their claims
substantiated by legal proof to the receiver within one hundred eighty days after
the date of the first publication of notice of the claims procedure or after actual
receipt of notice of the claims procedure, whichever occurs first. (2) Within one hundred eighty days after receipt of a claim, the receiver shall notify
the claimant in writing whether the claim has been allowed or disallowed. The receiver may reject any claim in whole or in part, or may reject any claim of
security, preference, priority, or offset against the bank. Any claimant whose claim has been rejected by the receiver shall petition the court
for a hearing on the claim within sixty days after the date the notice was mailed
or be forever barred from asserting the rejected claim. (C) Any claims filed after the claim period and subsequently accepted by the receiver
or allowed by the court, shall be entitled to share in the distribution of assets
only to the extent of the undistributed assets in the hands of the receiver on the
date the claims are accepted or allowed.
Frequently Asked Questions About Ohio § 1125.23
What does Ohio Revised Code § 1125.23 cover?
Section 1125.23 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 § 1125.23?
A common citation format is "Ohio Revised Code § 1125.23" (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 § 1125.23 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.