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[¶11,740] In the Matter of Randy Martin, The Clarksburg Commercial Bank,
Clarksburg, Ohio, Docket No. 00-010e (9-27-00).
Respondent prohibited from participating in the conduct of affairs of,
or exercising voting rights in, any insured institution without the
prior written approval of the FDIC.
[.1] Prohibition, Removal or SuspensionProhibition FromParticipation in
Conduct of Affairs
[.2] Prohibition, Removal or SuspensionProhibition FromVoting Rights,
Exercise of
[.3] IndemnificationProhibited
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In the Matter of
RANDY L. MARTIN,
individually, and as an institution-affiliated party of
THE CLARKSBURG COMMERCIAL BANK
CLARKSBURG, OHIO
(Insured State Nonmember Bank)
ORDER OF PROHIBITIONFROM FURTHER PARTICIPATION
FDIC-00-010e
Randy L. Martin ("Respondent") has been advised of the right
to receive a NOTICE OF INTENTION TO PROHIBIT FROM FURTHER PARTICIPATION
("NOTICE") issued by the Federal Deposit Insurance Corporation
("FDIC") detailing the violations, unsafe or unsound banking
practices, and/or breaches of fiduciary duty for which an ORDER OF
PROHIBITION FROM FURTHER PARTICIPATION ("ORDER") may issue, and
has been further advised of the right to a hearing on the allegations
under section 8(e) of the Federal Deposit Insurance Act ("Act"),
12 U.S.C. § 1818(e), and the FDIC's Rules of Practice and Procedure,
12 C.F.R. Part 308. Having waived those rights, the Respondent entered
into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER OF
PROHIBITION FROM FURTHER PARTICIPATION ("CONSENT AGREEMENT") with
a representative of the Legal Division of the FDIC, whereby solely for
the purpose of this proceeding and without admitting or denying any
violations, unsafe or unsound banking practices, and/or any breaches of
fiduciary duty, Respondent consented to the issuance of an ORDER by the
FDIC.
The FDIC considered the matter and determined it had reason to believe
that:
(a) The Respondent has engaged or participated in violations,
unsafe or unsound banking practices, and/or breaches of fiduciary duty
as an institution-affiliated party of The Clarksburg Commercial Bank,
Clarksburg, Ohio ("Bank");
(b) By reason of such violations, practices and/or breaches of
fiduciary duty, the Bank has suffered or will probably suffer financial
loss or other damage, the interests of the Bank's depositors have been
or could be prejudiced and/or Respondent has received financial gain or
other benefit; and
(c) Such violations, practices and/or breaches of fiduciary duty
involve personal dishonesty on the part of the Respondent or
demonstrate the Respondent's willful and/or continuing disregard for
the safety or soundness of the Bank.
The FDIC further determined that such violations, practices and/or
breaches of fiduciary duty demonstrate the Respondent's unfitness to
serve as a director, officer, person participating in the conduct of
the affairs or as an institution-affiliated party of the Bank, any
other insured depository institution, or any other agency or
organization enumerated in section 8(e)(7)(A) of the Act, 12 U.S.C.
§ 1818(e)(7)(A).
The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the
following:
ORDER OF PROHIBITIONFROM FURTHER PARTICIPATION
1. Randy L. Martin is hereby, without the prior written consent of
the FDIC and the appropriate Federal financial institutions regulatory
agency, as that term is defined in section 8(e)(7)(D) of the Act, 12
U.S.C. § 1818(e)(7)(D), prohibited from:
[.1] (a) participating in any manner in the conduct of the affairs of any
financial institution or organization enumerated in section 8(e)(7)(A)
of the Act, 12 U.S.C. § 1818(e) (7)(A);
[.2] (b) soliciting, procuring, transferring, attempting to transfer,
voting, or attempting to vote any proxy, consent or authorization with
respect to any voting rights in any financial institution enumerated in
section 8(e)(7)(A) of the Act, 12 U.S.C. § 1818(e)(7)(A);
(c) violating any voting agreement previously approved by the
appropriate Federal banking agency; or
(d) voting for a director, or serving or acting as an
institution-affiliated party.
[.3] 2. IT IS FURTHER ORDERED that Respondent is prohibited from
seeking or accepting indemnification from any insured depository
institution for any expenses, including attorney's fees and
disbursements incurred by Respondent in connection with this matter.
3. This ORDER will become effective ten (10) days after its issuance.
The provisions of this ORDER will remain effective and enforceable
except to the extent that, and until such time as, any provision of
this ORDER shall have been modified, terminated, suspended, or set
aside by the FDIC.
Pursuant to delegated authority.
Dated this 27th day of September, 2000.