Ohio Code 1101.05 – Enforceability
Current as of: 2023 | Check for updates
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(A) Except as otherwise expressly provided, the provisions of Chapters 1101. to 1127. of the Revised Code and any rules adopted under those chapters:
Terms Used In Ohio Code 1101.05
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(1) Are enforceable only by the superintendent of financial institutions, the superintendent’s designee, the federal deposit insurance corporation, the federal reserve, or, with respect to Chapter 1127 of the Revised Code, a prosecuting attorney; and
(2) Do not create or provide a private right of action or defense for or on behalf of any party other than the superintendent or the superintendent’s designee.
(B) Division (A) of this section does not apply with respect to sections 1109.18 and 1109.20 of the Revised Code and any rules adopted under those sections.