Ohio Code 705.27 – Bonds
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Except as otherwise provided in the municipal charter or in section 3.061 of the Revised Code, the treasurer, auditor, and such other officers or employees of the municipal corporation as the legislative authority directs, shall give a bond to the municipal corporation for the faithful performance of their duties, in such sum as the legislative authority fixes by ordinance or resolution. Premiums on official bonds may be paid by the municipal corporation.
Terms Used In Ohio Code 705.27
- Bond: includes an undertaking. See Ohio Code 1.02
- 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.