Ohio Code 150.06 – Status of authority; Construction of program administrator agreement; Executive session
(A) The authority is exempt from the requirements of sections 101.82 to 101.87 of the Revised Code.
Terms Used In Ohio Code 150.06
- Authority: means the Ohio venture capital authority created under section 150. See Ohio Code 150.01
- Executive session: A portion of the Senate's daily session in which it considers executive business.
- in writing: includes any representation of words, letters, symbols, or figures; this provision does not affect any law relating to signatures. See Ohio Code 1.59
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- Quorum: The number of legislators that must be present to do business.
(B) The selection of a program administrator and the entering into an agreement under section 150.05 of the Revised Code do not constitute a purchase of services under Chapter 125 of the Revised Code.
(C) Notwithstanding section 121.22 of the Revised Code, the authority may hold an executive session for either of the following purposes, but only after a majority of a quorum of the authority determines, by a roll call vote, to hold the session, and only at a regular or special meeting:
(1) Presenting, reviewing, or discussing proprietary information relating to any person unless that person has consented in writing to disclosure of such information by the authority;
(2) Preparing for, conducting, or reviewing negotiating sessions with any private, for-profit investment fund for the purpose of selecting a program administrator and entering into an agreement under section 150.05 of the Revised Code.