Ohio Code § 1125.23

Ohio Code § 1125.23. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.

§ 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.

Source: official Ohio text · Last verified 2026-08-27

At a glance

  • Citation: Ohio Revised Code § 1125.23
  • Jurisdiction: Ohio
  • Code: Ohio Revised Code
  • Text: transcribed from the official source (verify below)

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Statute text is transcribed from the official Ohio Revised Code. Confirm it against the primary source before relying on it:

Not legal advice. Verify against the official source and consult a licensed Ohio attorney.

Common questions

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