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2021 Ohio Revised Code
Title 49 | Public Utilities
Chapter 4969 | Railroad Sales; Railroad Receivers
Section 4969.16 | Confirmation of Sale and Deed - Distribution of Proceeds.
Universal Citation: Ohio Rev Code § 4969.16 (2021)
Effective: October 1, 1953
Latest Legislation: House Bill 1 - 100th General Assembly
When a sale referred to in section 4969.12 of the Revised Code is made and reported to the court, if satisfied that it was conducted according to law and its order, the court shall confirm the sale and order the receiver to execute and deliver to the purchaser a deed of conveyance for the railroad, roadbed, rights of way, real estate, fixtures, and franchises so sold.
The proceeds of the sale, after paying the costs and expenses thereof and the unpaid expenses of the trust against the company, shall be distributed pro rata among all the creditors of the company.
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