2014 Ohio Revised Code
Title [5] V TOWNSHIPS
Chapter 505 - TRUSTEES.
Section 505.34 - Compounding or release of claims due from banks.
The board of township trustees may compound or release, in whole or in part, a debt, obligation, judgment, or claim due the township, from a bank in process of liquidation or operating under a conservatorship, or due the board, except where any member of such board is personally interested as a stockholder of the bank. The board shall enter upon its records a statement of the facts and the reasons for such compounding or release.
Effective Date: 10-01-1953
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