Ohio § 1701.09
Full text of Ohio Ohio Revised Code § 1701.09, with citation guidance and answers to common questions.
§ 1701.09.
(A) After the articles have been filed, the incorporators or a majority of them may receive
subscriptions for shares at such time and place that they determine. (B) Unless the articles fix the consideration for which subscriptions are to be received,
all of the following apply: (1) If subscriptions are to be received for shares without par value, the incorporators
shall fix the consideration for which they will receive subscriptions for such shares. (2) If subscriptions are to be received for shares with par value, the consideration
for the shares shall be the par value or the greater consideration that the incorporators
fix. (3) If any subscriptions are to be payable otherwise than in money, the incorporators
may determine the fair value to the corporation of the consideration for the shares. (C) No subscriptions for shares shall be received by the incorporators if the articles
name the initial directors or after the meeting of the shareholders or incorporators
at which the initial election of directors occurs. (D) The failure of incorporators of a corporation formed or attempted to be formed under
the laws of this state then in effect to file in the office of the secretary of state
a certificate of subscription required by those laws to be filed does not make the
existence of the corporation or any of its acts subject to question.
Frequently Asked Questions About Ohio § 1701.09
What does Ohio Revised Code § 1701.09 cover?
Section 1701.09 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 § 1701.09?
A common citation format is "Ohio Revised Code § 1701.09" (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 § 1701.09 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.