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Ohio Statutes, Title 17

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Title 17, Title 17. Corporations-Partnerships

41 chapters · 1,271 sections in this title.

All chapters in Title 171,271 Ch 1701, Chapter 1701 | General Corporation Law118 Ch 1706, Chapter 1706 | Ohio Revised Limited …92 Ch 1751, Chapter 1751 | Health Insuring Corpo…83 Ch 1707, Chapter 1707 | Securities77 Ch 1733, Chapter 1733 | Credit Unions77 Ch 1782, Chapter 1782 | Limited Partnerships76 Ch 1776, Chapter 1776 | Ohio Uniform Partners…73 Ch 1702, Chapter 1702 | Nonprofit Corporation Law67 Ch 1745, Chapter 1745 | Uniform Unincorporate…54 Ch 1729, Chapter 1729 | Ohio Cooperative Law53 Ch 1715, Chapter 1715 | Religious And Benevol…52 Ch 1713, Chapter 1713 | Educational Corporations50 Ch 1711, Chapter 1711 | Agricultural Societie…40 Ch 1703, Chapter 1703 | Foreign Corporations30

53 sections·Filtered byTitle 17✕Ch 1729✕

Ohio Rev. Code Ann. § 1729.01 Ohio cooperative law definitions
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As used in this chapter: (A) "Agricultural cooperative" means a cooperative to which all of the following apply:(1) The cooperative engages in any activity in connection with the propagation, raising, producing, harvesting, storing, drying, handling, processing, or marketing of a…
Ohio Rev. Code Ann. § 1729.02 Purposes - associations deemed nonprofit - chapter title
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(A) An association may be organized under this chapter for any lawful purpose permitted to corporations by the laws of this state, except any such purpose that is inconsistent with the provisions of this chapter or other chapters of Title XVII of the Revised Code. This section do…
Ohio Rev. Code Ann. § 1729.03 Powers of association
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Each association incorporated under this chapter shall have the following powers:(A) It may make contracts, incur liabilities, and borrow money; issue capital stock and other equity interests and issue certificates therefor; acquire property; and dispose of, mortgage, pledge, lea…
Ohio Rev. Code Ann. § 1729.031 Indemnification
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(A)(1) Subject to divisions (A)(2) and (3) of this section, an association may indemnify or agree to indemnify any person that was or is a party, or is threatened to be made a party, to any threatened, pending, or completed civil, criminal, administrative, or investigative action…

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Ohio Rev. Code Ann. § 1729.04 Use of words in name - prohibition

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(A) The name of any association organized under this chapter shall include the word or abbreviation "cooperative," "coop," "co-operative," "co-op," "association," "assn.," "company," "co.," "incorporated," "inc.," "corporation," or "corp."(B) No corporation or other person organi…

Ohio Rev. Code Ann. § 1729.06 Number of incorporators - statutory agent

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(A) Two or more individuals may form an association under this chapter. (B)(1) Every association shall have and maintain a statutory agent upon whom any process, notice, or demand against the association may be served. The agent shall be one of the following:(a) A natural person …

Ohio Rev. Code Ann. § 1729.07 Articles of incorporation

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(A) The articles of incorporation of an association shall set forth all of the following:(1) The name of the association;(2) The association's purposes, as permitted by this chapter. It is sufficient to state in the articles that the association may engage in any activity within …

Ohio Rev. Code Ann. § 1729.08 Amendment or restatement of articles

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(A) The articles of incorporation of an association may be altered or amended at any regular meeting of the association or at any special meeting called for that purpose, provided that the text of the proposed change, or a general description of the change, is contained in the no…

Ohio Rev. Code Ann. § 1729.09 Voting on amendment

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(A)(1) Unless the board provides that division (A)(3) of this section applies to an amendment to the articles of incorporation, a holder of stock other than membership stock or patronage stock who is affected by a proposed amendment to the articles shall be entitled to cast one v…

Ohio Rev. Code Ann. § 1729.10 Evidence of incorporation

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(A) A copy of the association's articles of incorporation or amended articles filed in the office of the secretary of state, and certified by the secretary of state, is conclusive evidence, except as against the state, that the association has been incorporated under the laws of …

Ohio Rev. Code Ann. § 1729.11 Reinstatement of association

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(A) An association whose articles of incorporation have been canceled or an association that has been dissolved in a manner other than for a voluntary dissolution as provided in section 1729.55 of the Revised Code, or a judicial dissolution as provided in section 1729.61 of the R…

Ohio Rev. Code Ann. § 1729.12 Filing articles and certificates of amendment

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(A) For filing articles of incorporation or a certificate of amendment of articles or a certificate of merger, consolidation, division, or dissolution, and with respect to the issuance of shares of stock, an association organized under this chapter shall pay to the secretary of s…

Ohio Rev. Code Ann. § 1729.13 Dividends - stock - security interest

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(A) An association may pay dividends annually on its capital stock. All its other net income from business with or for members and other eligible patrons, less reserves which shall be provided for in the bylaws or other written agreements, shall be distributed to its members and …

Ohio Rev. Code Ann. § 1729.14 Bylaws

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Each association shall adopt for its governance and management, bylaws that are consistent with the powers granted by this chapter and the articles of incorporation of the association. The bylaws may provide for any of the following:(A) The time, place, and manner of calling and …

Ohio Rev. Code Ann. § 1729.16 Adoption, amendment, or repeal of bylaws

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(A) The initial bylaws may be adopted by the association's directors who are to serve until the first member meeting. After the initial bylaws are adopted, bylaws may be adopted and amended only by the members unless the articles or bylaws provide that the board, by a two-thirds …

Ohio Rev. Code Ann. § 1729.17 Members or delegates entitled to vote

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(A) Each member entitled to vote shall have one vote, except that the articles or bylaws of the association may permit the following:(1) Voting by members in accordance with the amount of business done with or through the association.(2) Voting by delegates, including a voting sy…

Ohio Rev. Code Ann. § 1729.18 Association members - meetings

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(A) An association shall have two or more members. However, an association may have one member if that member is a cooperative that has two or more members.(B) Each association shall hold an annual meeting of its members. The board may call a special meeting of the members at any…

Ohio Rev. Code Ann. § 1729.19 Action authorized or taken without meeting

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(A) Unless prohibited in an association's articles of incorporation or bylaws, any action that may be authorized or taken at a meeting of the members, affected stockholders, the board, or any committee of the board, may be authorized or taken without a meeting, with the affirmati…

Ohio Rev. Code Ann. § 1729.20 Methods of giving notice - signed waiver

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(A) Whenever notice is required by this chapter to be given to any person, the notice may be given personally, by mail, or by electronic or telephonic transmittal. If mailed, the notice is given when it is deposited in the United States mail, with postage prepaid, addressed to th…

Ohio Rev. Code Ann. § 1729.22 Board of directors

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(A) Except where this chapter or an association's articles of incorporation or bylaws require that action be otherwise authorized or taken, all of the authority of an association shall be exercised by or under the direction of the board. The board shall consist of not less than f…

Ohio Rev. Code Ann. § 1729.23 Standard of care for directors

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(A) A director shall perform the duties of a director, including duties as a member of any committee of the directors upon which the director serves, in good faith, in a manner the director reasonably believes to be in or not opposed to the best interests of the association, and …

Ohio Rev. Code Ann. § 1729.24 Effect of self-dealing

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(A) Unless otherwise provided in an association's articles of incorporation or bylaws:(1) No contract or transaction between an association and one or more of its directors or officers, or between the association and any other person in which one or more of the association's dire…

Ohio Rev. Code Ann. § 1729.25 Liability of members, directors, officers

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(A) The members, the directors, and the officers of an association shall not be personally liable for any obligation of the association.(B)(1) Directors who vote for or assent to any of the following are jointly and severally liable to the association in accordance with division …

Ohio Rev. Code Ann. § 1729.26 Officers

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(A) The officers of an association shall consist of a president, a secretary, a treasurer, and, if desired, a chairperson and one or more vice chairpersons of the board, one or more vice-presidents, and other officers and assistant officers as necessary. The officers shall be ele…

Ohio Rev. Code Ann. § 1729.27 Surety bonds

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If required by the association's bylaws, every officer, employee, and agent handling funds, negotiable instruments, or other property of or for an association shall execute and deliver adequate bonds for the faithful performance of the officer's, employee's, or agent's duties and…

Ohio Rev. Code Ann. § 1729.28 Removal of officers or directors - procedure

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(A) Any member of an association may bring charges against an officer or director of the association by filing them in writing with the secretary of the association, together with a petition, signed by twenty per cent of the members, requesting the removal of the officer or direc…

Ohio Rev. Code Ann. § 1729.29 Books and records - examination by member or stockholder

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(A) An association shall keep correct and complete books and records of account, and shall also keep minutes of the proceedings of meetings of its members, board, and delegates. The association shall keep at its principal office records of the names and addresses of all members a…

Ohio Rev. Code Ann. § 1729.35 Association may merge or consolidate with one or more associations

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(A) An association may merge or consolidate with one or more associations under this chapter. Before an association may merge or consolidate with any other association, a written agreement of merger or consolidation shall be approved by the board of each constituent association a…

Ohio Rev. Code Ann. § 1729.36 Association may merge or consolidate with one or more entities

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(A) An association may merge or consolidate with one or more entities, if such merger or consolidation is permitted by the laws under which each constituent entity exists and the association complies with this section. (B) Each constituent association shall comply with section 17…

Ohio Rev. Code Ann. § 1729.37 Effective date of merger or consolidation

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(A) Unless a later date is specified in the agreement, a merger or consolidation under sections 1729.35 and 1729.36 of the Revised Code is effective when the certificate of merger or consolidation is filed in accordance with section 1729.38 of the Revised Code. If, after filing t…

Ohio Rev. Code Ann. § 1729.38 Certificate of merger or consolidation filing and recording

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(A)(1) Upon adoption of an agreement of merger or consolidation under section 1729.35 or 1729.36 of the Revised Code, a certificate, signed by any authorized officer or representative of each constituent association or entity, shall be filed with the secretary of state on a form …

Ohio Rev. Code Ann. § 1729.40 Plan of division

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(A) Any association may divide itself into two or more associations. A written plan of division shall be approved by the association's board. Such plan shall set forth all the terms of the division and the proposed effect of the division on all members and stockholders of the ass…

Ohio Rev. Code Ann. § 1729.42 Conversions

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(A) A domestic corporation that is not an association may convert itself into an association by adopting an amendment to its articles of incorporation in which it elects to become subject to this chapter, together with any changes in its articles of incorporation and bylaws requi…

Ohio Rev. Code Ann. § 1729.44 Setting aside reorganizations

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An action to set aside a merger, consolidation, division, or conversion of an association, on the ground that any section of the Revised Code has not been complied with, shall be brought within ninety days after the effective date of the merger, consolidation, division, or conver…

Ohio Rev. Code Ann. § 1729.46 Written demand for payment of fair cash value of stock

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(A) In order to obtain payment of the fair cash value, a stockholder entitled to payment of the fair cash value of stock under section 1729.09, 1729.35, 1729.36, or 1729.40 of the Revised Code shall deliver a written demand for payment of the fair cash value of the stock to the a…

Ohio Rev. Code Ann. § 1729.47 Complaint for fair cash value of stock

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(A) If the association's articles of incorporation or bylaws do not provide a reasonable basis for determining and paying fair cash value of the stock that is the subject of the demand for payment of fair cash value, and the affected stockholder has not agreed upon a fair cash va…

Ohio Rev. Code Ann. § 1729.49 Disposing of assets of association

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(A) As used in this section, "substantially all" means more than two-thirds of the association's assets, measured, in the board's discretion, either by value as recorded in the books and records of the association or by fair market value.(B) Unless the articles of incorporation o…

Ohio Rev. Code Ann. § 1729.55 Voluntary dissolution

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(A) An association may be dissolved voluntarily in the manner provided in this section.(B) A resolution of dissolution for an association shall state both of the following:(1) That the association elects to be dissolved;(2) Any additional provision considered necessary with respe…

Ohio Rev. Code Ann. § 1729.56 Public notice of voluntary dissolution

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Following the filing of the certificate of dissolution, the directors, members, or incorporators who filed the certificate, as the case may be, shall cause a notice of voluntary dissolution to be published once a week on the same day of each week for two successive weeks, in a ne…

Ohio Rev. Code Ann. § 1729.58 Association may act to wind up affairs or obtain reinstatement of articles

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(A) When an association is dissolved voluntarily, when the articles of incorporation of an association have been canceled, when a final order of a court of common pleas is made dissolving an association under section 1729.59 of the Revised Code, or when the period of existence of…

Ohio Rev. Code Ann. § 1729.59 Judicial liquidations

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(A) Without limiting the generality of its authority and subject to division (B) of this section, the court of common pleas of the county in this state in which is located the principal place of business of a voluntarily dissolved association or of an association whose articles h…

Ohio Rev. Code Ann. § 1729.60 Receiver appointed to wind up affairs of association

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(A) Whenever, after an association is dissolved voluntarily, the articles of an association have been canceled, or the period of existence of an association has expired, a receiver is appointed to wind up the affairs of the association, all the claims, demands, rights, interests,…

Ohio Rev. Code Ann. § 1729.61 Complaint for judicial dissolution

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(A) An association may be dissolved judicially and its affairs wound up by an order of the court of common pleas of the county in this state in which the association has its principal place of business, in an action brought by the members having sixty per cent of the voting power…

Ohio Rev. Code Ann. § 1729.67 Marketing agreements

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(A) A cooperative and any member may make marketing agreements, whether written separately or contained in the bylaws, in which the member agrees to do any of the following:(1) Sell, market, or deliver all or any specified part of products produced or to be produced either by the…

Ohio Rev. Code Ann. § 1729.68 Prohibited acts - injunctive relief

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(A) No processor, handler, distributor, or dealer, or agent thereof, who purchases or contracts to purchase any product from a person who produced the product, or procures for, sells, or otherwise furnishes inputs, services, or supplies to a person shall do either of the followin…

Ohio Rev. Code Ann. § 1729.69 Unfair marketing practices

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(A) No handler shall commit an unfair marketing practice, as defined in division (B) of this section, whenever a marketing cooperative has been authorized by its members to bargain on behalf of its members for sales contracts with the handler and any of the following conditions e…

Ohio Rev. Code Ann. § 1729.70 Agricultural cooperative not illegal

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(A) An agricultural cooperative is not a conspiracy, a combination in restraint of trade, an illegal monopoly, or an attempt to lessen competition or to fix prices arbitrarily; and the marketing agreements between such an agricultural cooperative and its members, or any other mar…

Ohio Rev. Code Ann. § 1729.76 Foreign association

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Any foreign association may carry on any proper activities in this state upon compliance with the general regulations applicable to foreign corporations desiring to do business in this state. All contracts that could be made by any association incorporated under this chapter and …

Ohio Rev. Code Ann. § 1729.80 Membership in other organizations

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An association may organize, form, operate, own, control, have an interest in, own stock of, or be a member of any other cooperative, corporation, or other form of organization.

Ohio Rev. Code Ann. § 1729.84 Exemptions for agricultural products

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Any exemptions under any law applying to agricultural products in the possession or under the control of the individual producer also shall apply to such products delivered by its producer members, as long as such products are in the possession or under the control of an agricult…