Ohio Code § 1111.32

§ 1111.32.

(A) If the superintendent of financial institutions determines, after notice in accordance

with section 1121.37 of the Revised Code and opportunity for hearing in accordance with section 1121.38 of the Revised Code , that any of the following factors is true, the superintendent may revoke a trust

company's license to do trust business in this state: (1) The existence of the trust company, or its authority to transact business, has been

terminated or suspended under the laws of the state or country in which the trust

company is incorporated. (2) The trust company's authority to transact trust business has been terminated or suspended

under the laws of the state or country in which the trust company is incorporated,

or its license to engage in trust business has been terminated or suspended under

the laws of any other jurisdiction in which the trust company had been licensed to

engage in trust business. (3) A receiver, liquidator, or conservator has been appointed for the trust company under

the laws of the state or country in which the trust company is incorporated or for

its business in any other jurisdiction in which the trust company transacts business. (4) The trust company is violating or has violated, or the superintendent has reasonable

cause to believe is about to violate, any of the following: (a) A law or rule; (b) A condition imposed by the superintendent in writing in connection with approving

an application or notice or granting any other request of the trust company; (c) A written agreement the trust company entered into with the superintendent; (d) A cease and desist order issued by the superintendent under section 1121.32 of the Revised Code . (5) The trust company is engaging or has engaged, or the superintendent has reasonable

cause to believe is about to engage, in any unsafe or unsound practice. (6) The trust company has ceased to pay its debts in the ordinary course of business,

is incapable of paying its debts as they mature, has liabilities in excess of its

assets, or is subject to or has applied for an adjudication in bankruptcy, reorganization,

or other relief under any bankruptcy, reorganization, insolvency, or moratorium law. (7) The trust company has ceased or failed to conduct trust business in this state. (8) The trust company has failed to pay any fees, charges, forfeitures, or penalties

assessed under Chapters 1101. to 1127. of the Revised Code. (B)(1) If the superintendent has reasonable cause to believe any of the factors in division

(A) of this section is true, and the superintendent determines it is necessary to

protect the persons and interests in this state that the trust company serves as a

fiduciary or the property in this state that the trust company holds title to or an

interest in as a fiduciary, the superintendent may immediately suspend the trust company's

license to do trust business in this state. (2) Within ten days after the order suspending a trust company's license to do trust

business in this state is served upon it, the trust company may apply to the court

of common pleas of any county in this state in which the trust company is doing business,

or the court of common pleas of Franklin county, for an injunction setting aside,

limiting, or suspending enforcement of the suspension order pending an opportunity

for hearing on whether the trust company's license to do trust business in this state

should be revoked, and the court has jurisdiction to issue the injunction.