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Ohio · Through 2018-01-01 (House Bill 49 - 132nd General Assembly)

Ohio Rev. Code § 1125.25: Election to reject or ratify and assign executory contract.

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Where this section sits in the code
  1. Title 11 Banks-Savings and Loan Associations
  2. Chapter 1125 Banks - Liquidations And Conservatorships

(A) Within one hundred days after the date of the closing of a state bank, a receiver may reject any executory contract to which the bank is a party without any further liability on the part of the bank or the receiver. The receiver's election to reject an executory contract creates no claim for compensation other than compensation accrued to the date of termination or for actual damages.

(B) A receiver may ratify and assign any executory contract to which the bank is a party notwithstanding the existence of a provision in the contract permitting the termination of the executory contract, or prohibiting, conditioning, or requiring consent to any assignment of the executory contract, upon the insolvency of the bank or the appointment of a receiver.

Collected 2026-09-14T19:24:29Z. Source file · JSON

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