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2017 Ohio Revised Code
Title [7] VII MUNICIPAL CORPORATIONS
Chapter 715 - GENERAL POWERS
Section 715.04 - Compounding or release of claims due from banks.
Universal Citation: Ohio Rev Code § 715.04 (2017)
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.
Effective Date: 10-01-1953 .
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