2006 Ohio Revised Code - 1315.05. Assignment of claims in trust to superintendent of banks.

§ 1315.05. Assignment of claims in trust to superintendent of banks.
 

At the written request of any claimant or creditor of the licensee whose claim is based on a transaction in this state for the sale or issuance of an Ohio instrument or the receipt of money for transmitting or transmission of an Ohio instrument under sections 1315.01 to 1315.11 of the Revised Code, the superintendent of banks, in his discretion, may take an assignment of the claim in trust for the benefit of the assigning claimant or creditor and may bring any legal action necessary to collect the claim. Two or more claims against the licensee may be combined in one action. 
 

HISTORY: RC § 1310.05, 137 v H 1134 (Eff 7-1-79); 144 v H 332 (Eff 10-6-92); RC § 1315.05, 144 v H 693 (Eff 11-6-92); 145 v H 266. Eff 7-30-93.
 

Not analogous to former RC § 1315.05 (GC § 8384; 99 v 413, § 4; Bureau of Code Revision, 10-1-53), repealed 129 v S 5, § 2, eff 7-1-62.