Ohio Code 1109.61 – Paying management and consulting fees
Current as of: 2023 | Check for updates
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No state bank shall contract to pay, or pay to any person, any fees for management or consulting services, including fees for legal, accounting, brokerage, or other similar professional services, that do not have a direct relationship to the value of the services rendered or to be rendered, based on reasonable costs consistent with current market values for services of the kind contracted for.
Terms Used In Ohio Code 1109.61
- Contract: A legal written agreement that becomes binding when signed.
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- state: means the state of Ohio. See Ohio Code 1.59