Ohio § 501.04
Full text of Ohio Ohio Revised Code § 501.04, with citation guidance and answers to common questions.
§ 501.04.
The board of education of each school district, with regard to lands appropriated
by congress for the support of schools and ministerial purposes that have been allocated
for the benefit of that district, may sell or dispose of such lands as provided in
this section. Moneys received from their sale or disposition, or from annual rentals from leases
that have not yet expired, shall belong to the school district for which such lands
have been allocated. All funds held by the state from the sale or disposition of these lands and interest
thereon before the effective date of this amendment shall be paid from the school
district deposit fund in the custody of the treasurer of state to the school districts
for whose benefit the lands have been allocated, on a pro rata basis. A school board may use moneys from the sale, disposition, or annual rentals of the
lands to pay expenses it incurs in the operation and maintenance of these lands. If the total value of the lands credited to a school district under the terms of
the original grant exceeds fifty thousand dollars, as determined by an appraisal conducted
by at least two disinterested appraisers, the lands or any part thereof shall be sold
upon specific authorization of the general assembly. In the event the sale of such lands has not been authorized and the lease or leases
thereon expire, the school board may renew or lease anew such land. Lands and funds to the credit of any school district under the terms of the original
grant shall be administered by the board of education of the school district, by an
education foundation fund designated by the board, or by another person or entity
designated by the board.
Frequently Asked Questions About Ohio § 501.04
What does Ohio Revised Code § 501.04 cover?
Section 501.04 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 § 501.04?
A common citation format is "Ohio Revised Code § 501.04" (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 § 501.04 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.