Ohio § 1125.22
Full text of Ohio Ohio Revised Code § 1125.22, with citation guidance and answers to common questions.
§ 1125.22.
other action, including the lending of money, necessary to preserve and liquidate
the assets of the bank; (3) To execute in the name of the bank any instrument necessary or proper to effectuate
the receiver's powers or perform its duties as receiver; (4) To initiate, pursue, compromise, and defend litigation involving any right, claim,
interest, or liability of the bank; (5) To exercise all fiduciary functions of the bank as of the date of appointment as
receiver; (6) To borrow money as necessary in the liquidation of the bank, and to secure those
borrowings by the pledge or mortgage of assets of the bank; (7) To abandon or convey title to any holder of a deed of trust, mortgage, or similar
lien against property in which the bank has an interest, whenever the receiver determines
that continuing to claim that interest is burdensome and of no advantage to the bank
or its account holders, creditors, shareholders, or members; (8) To sell any and all assets, to compromise any debt, claim, obligation, or judgment
due to the bank, to discontinue any pending action or other proceeding, and to sell
or otherwise transfer all or a substantial portion of the assets or liabilities of
the bank; (9) To establish ancillary receiverships in any jurisdiction the receiver determines
necessary; (10) To distribute assets in accordance with this chapter; (11) To take any other action incident to the powers set forth in division (A) of this
section. (B) Unless specifically indicated to the contrary, the powers conferred upon a receiver
under this section may be exercised without court approval. However, nothing in this section shall be construed to prevent a receiver from obtaining
court approval when the receiver determines approval is appropriate under the circumstances.
Frequently Asked Questions About Ohio § 1125.22
What does Ohio Revised Code § 1125.22 cover?
Section 1125.22 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 § 1125.22?
A common citation format is "Ohio Revised Code § 1125.22" (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 § 1125.22 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.