Ohio § 703.376
Full text of Ohio Ohio Revised Code § 703.376, with citation guidance and answers to common questions.
§ 703.376.
(A) If the dissolved village designated a community improvement corporation as its agency
for the purposes described in division (A)(1) of section 1724.10 of the Revised Code , one of the following shall occur during the transition period: (1) If the dissolving village is the only subdivision that designated the community improvement
corporation as its agency, the community improvement corporation shall be dissolved; (2) If more than one subdivision designated the community improvement corporation as
its agency, the community improvement corporation shall either: (a) dissolve and
apportion its remaining assets among each such subdivision in accordance with the
articles of incorporation, or (b) apportion and liquidate the dissolving village's
share of the community improvement corporation's assets and amend the articles of
incorporation to reflect that the community improvement corporation is no longer the
agency of the dissolving village. (B) Assets of a community improvement corporation apportioned to a dissolving village
under division (A)(1) or (2) of this section shall be disposed of by the receiver-trustee
under section 703.373 of the Revised Code . Assets apportioned to subdivisions other than the dissolving village shall either
be retained by the community improvement corporation if the community improvement
corporation continues to exist, or disposed of under section 1724.07 of the Revised Code if the community improvement corporation is dissolved. (C) The secretary of state shall cancel the articles of incorporation of a community
improvement corporation dissolved under this section, and all rights, privileges,
and franchises conferred upon that community improvement corporation by those articles
of incorporation then shall cease.
Frequently Asked Questions About Ohio § 703.376
What does Ohio Revised Code § 703.376 cover?
Section 703.376 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 § 703.376?
A common citation format is "Ohio Revised Code § 703.376" (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 § 703.376 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.