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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 715.04 | Compounding or release of claims due from banks.

Ohio Revised Code
/
Title 7 Municipal Corporations
/
Chapter 715 General Powers
 
Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
PDF:
Download Authenticated PDF
 

All municipal corporations may compound or release, in whole or in part, any debt, obligation, judgment, or claim, due the municipal corporation from a bank in process of liquidation or operating under a conservatorship. Where a member of the legislative authority is personally interested as a stockholder in such bank, the legislative authority of such municipal corporation shall enter upon its records a statement of the facts and the reasons for such compounding or release.

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