Ohio § 1107.05
Full text of Ohio Ohio Revised Code § 1107.05, with citation guidance and answers to common questions.
§ 1107.05.
(A) A state bank may issue debt securities at the times, in the amounts, and subject
to the terms approved in writing by the superintendent of financial institutions. (B) In the case of a stock state bank, the terms of debt securities may include either
of the following: (1) Options to subscribe to or purchase the bank's shares at not less than par value; (2) The right to convert the debt securities to the bank's shares, if the par value of
the shares resulting from the conversion does not exceed the value on the bank's books
of the debt securities being converted. (C) The terms of any option granted in connection with the issuance of debt securities
or any right to convert debt securities to shares shall not permit or require the
holders of the debt securities to be held individually responsible for the state bank's
debts, contracts, or engagements on the basis of their status as holders of the debt
securities.
Frequently Asked Questions About Ohio § 1107.05
What does Ohio Revised Code § 1107.05 cover?
Section 1107.05 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 § 1107.05?
A common citation format is "Ohio Revised Code § 1107.05" (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 § 1107.05 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.