Analysis of Ohio's Amended Receivership Law | Page 3

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Introduction

O

n December 19, 2014, Governor Kasich signed into law
Substitute House Bill No. 9, which significantly revises
Ohio’s law of Receiverships. The law will become effective in
approximately 90 days – the exact date to be determined by when
the bill is filed with the Ohio Secretary of State, which has not yet
occurred as of the date of this Analysis.
Among other matters, Sub. H.B. No. 9:
• clarifies, and to some extent, expands the grounds for
appointment of a Receiver;
• sets forth the scope of authority of the Receiver, depending
on the basis for the Receiver’s appointment;
• clarifies and details the powers of a Receiver;
• provides comprehensive and detailed procedures for a
Receiver’s sale of real and/or personal property, particularly
sales free and clear of liens; and
• establishes a Study Committee on Receivership Laws to
study matters related to Receiverships and payment of public
utility services.
The amended statutory provisions setting forth the grounds for
appointment of a Receiver, contained in Section 2735.01 of the Ohio
Revised Code, and the powers of a Receiver (including the power to
sell free and clear of liens), in Section 2735.04, modernize, clarify
and expand on what were formerly very brief and general provisions
that had been in effect since 1953.

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