Ohio Code 1713.32 – Mechanics’ institute may borrow money
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A mechanics’ institute incorporated under the laws of this state prior to 1851 may borrow money, issue bonds or notes therefor at no more than the legal rate of interest, and secure them by mortgage upon its real estate.
Terms Used In Ohio Code 1713.32
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- state: means the state of Ohio. See Ohio Code 1.59