Dic and liquidating a financial institution

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(G) Either all positions on the board of directors of the bank are vacant or all of the directors then in office are incapacitated or otherwise unable to perform their responsibilities.(H) The bank has violated any court order, 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.(B) Prior to instituting a voluntary liquidation, a state bank shall submit to the superintendent an application for approval of its plan of voluntary liquidation and evidence satisfactory to the superintendent that the plan has been properly adopted by the bank and approved by its shareholders or members.(C) A state bank's plan of voluntary liquidation shall include provisions for all of the following:(1) The settlement of all debts and liabilities, including the claims of account holders, owed by the bank; (2) The distribution of the bank's assets that remain after the settlement of debts and liabilities to all persons entitled to them; (3) The disposition or maintenance of any remaining or unclaimed funds, real or personal property, either tangible or intangible, or other assets, whether in trust or otherwise, including the contents of safe deposit boxes or vaults; (4) The retention of the bank's records in accordance with section 1109.69 of the Revised Code; (5) The date upon which the bank shall cease doing any banking business and surrender its banking license to the superintendent.

(C) The superintendent, any special deputy superintendents, or a conservator may employ and procure whatever assistance or advice is necessary in the conservatorship of the bank, and, for that purpose, may retain officers or employees of the bank as needed.

(C) The bank has committed a violation of law that has caused or that threatens substantial injury to any of the public, the banking industry, or the bank's depositors or other creditors.

(D) The bank has refused to submit its records of account, papers, or affairs to the inspection or examination of any federal agency or the superintendent.

(E) 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.

(F) A majority of the board of directors of the bank or a majority of its shareholders or members has requested the superintendent to appoint a conservator to take possession of the bank.

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