Ohio Code 5703.92 – Exercising powers after articles of incorporation or certificate of authority canceled; penalty
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No person shall exercise or attempt to exercise any powers, privileges, or franchises under the articles of incorporation or certificate of authority of a corporation after the articles or certificate has been canceled as provided in section 5703.91 of the Revised Code. A penalty of one hundred dollars shall be imposed for each day a violation of this section occurs, up to a maximum of five thousand dollars.
Terms Used In Ohio Code 5703.92
- 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.
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59