Ohio § 1701.47
Full text of Ohio Ohio Revised Code § 1701.47, with citation guidance and answers to common questions.
§ 1701.47.
(A) When any domestic corporation, non-profit or for profit, holds shares of a domestic
or foreign corporation, the chairman of the board, the president, any vice-president,
the secretary, or the treasurer of the corporation holding such shares, and any such
officer or cashier or trust officer of a banking or trust corporation holding shares
of a domestic or foreign corporation, and any like officer of a foreign corporation,
non-profit or for profit, or of a foreign banking or trust corporation, holding shares
of a domestic corporation, shall conclusively be deemed to have authority to vote
on behalf of the corporation holding such shares, and to appoint proxies and to execute
consents, waivers, and releases on its behalf, unless before a vote is taken or a
consent, waiver, or release is acted upon it appears by a certified copy of the regulations,
the bylaws, or a resolution of the trustees, directors, or executive committee of
said corporation that such authority does not exist or is vested in some other officer
or person. (B) For the purposes of this section, a person exercising such authority as such officer
is prima-facie deemed to be duly elected, qualified, and acting as such officer. (C) No corporation shall directly or indirectly vote any shares issued by it. Shares which under this division of this section are not entitled to be voted shall
not be considered as outstanding for the purpose of computing the voting power of
the corporation or of shares of any class.
Frequently Asked Questions About Ohio § 1701.47
What does Ohio Revised Code § 1701.47 cover?
Section 1701.47 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 § 1701.47?
A common citation format is "Ohio Revised Code § 1701.47" (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 § 1701.47 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.