Ohio § 1107.09
Full text of Ohio Ohio Revised Code § 1107.09, with citation guidance and answers to common questions.
§ 1107.09.
(A) A stock state bank may, with the approval of the bank's board of directors, the holders
of a majority of the bank's voting shares, and the superintendent of financial institutions,
adopt and carry out plans for the offering or sale of, the grant of, or the grant
of options on, the bank's shares to any or all employees, officers, or directors of
the bank or any of the bank's subsidiaries or affiliates, or to other parties, or
to a trustee on their behalf. For purposes of this section, “ other parties ” means any person that has provided, or will provide, a service or a benefit to the
bank, as determined by the board of directors. (B) A plan may be adopted under this section for any unissued shares, treasury shares,
or shares to be purchased or granted. A plan may provide for the payment or issuance of the shares at one time or in installments
or for the establishment of special funds in which employees or other parties approved
under division (A) of this section may participate. (C) Shares otherwise subject to pre-emptive rights may be offered or sold under a plan
only when released from pre-emptive rights. Shares authorized for the purpose of carrying out a plan adopted under this section
shall be deemed released from pre-emptive rights.
Frequently Asked Questions About Ohio § 1107.09
What does Ohio Revised Code § 1107.09 cover?
Section 1107.09 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 1107.09?
A common citation format is "Ohio Revised Code § 1107.09" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1107.09 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.