Ohio Revised Code (Last Updated: January 27, 2016) |
Title 17. XVII CORPORATIONS - PARTNERSHIPS |
Chapter 1726. DEVELOPMENT CORPORATIONS |
Section 1726.10. Designation of depository
Latest version.
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A corporation incorporated under Chapter 1726. of the Revised Code shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is an officer or director of the depository so designated. The corporation shall not receive money on deposit.
Effective Date: 01-10-1961