Ohio § 1726.04

§ 1726.04.

In furtherance of its purposes, and in addition to the powers conferred by Chapter

1701. of the Revised Code, a corporation incorporated under Chapter 1726. of the Revised

Code shall, subject to the restrictions contained in this chapter, have the following

powers: (A) To elect, appoint, and employ officers, agents, and employees;  to make contracts

and incur liabilities for any purposes of the corporation;  provided, that the corporation

shall not incur any secondary liability by way of guaranty or endorsement of the obligations

of any person, firm, corporation, joint stock company, association, or trust, or in

any other manner; (B) To borrow money for any of the purposes of the corporation;  to issue therefor its

bonds, debentures, notes, or other evidences of indebtedness, whether secured or unsecured,

and to secure the same by mortgage, pledge, deed of trust or other lien on its property,

franchises, rights, and privileges of every kind and nature or any part thereof or

interest therein;  provided, that no loan to the corporation shall be secured in any

manner unless all outstanding loans to the corporation are secured equally and ratably

in proportion to the unpaid balance of such loans and in the same manner; (C) To make loans to any person, firm, partnership, corporation, joint stock company,

association, or trust, and to establish and regulate the terms and conditions with

respect to any such loans and the charges for interest and services connected therewith;

 provided, the corporation shall not approve any application for a loan unless and

until the person applying for said loan shows that he has applied for the loan through

ordinary banking or commercial channels and that the loan has been refused by at least

one bank or other financial institution; (D) To purchase, receive, hold, lease, or otherwise acquire and to sell, convey, transfer,

lease, or otherwise dispose of real and personal property, together with such rights

and privileges as may be incidental and appurtenant thereto and the use thereof, including

but not restricted to, any real or personal property acquired by the corporation from

time to time in the satisfaction of debts or enforcement of obligations; (E) To acquire the good will, business, rights, real and personal property, and other

assets, or any part thereof, or interest therein, of any persons, firms, partnership,

corporations, joint stock companies, associations, or trusts, and to assume, undertake,

or pay the obligations, debts, and liabilities of any such person, firm, partnership,

corporation, joint stock company, association, or trust;  to acquire improved or unimproved

real estate for the purpose of constructing industrial plants or other business establishments

thereon or for the purpose of disposing of such real estate to others for the construction

of industrial plants or other business establishments;  and to acquire, construct

or reconstruct, alter, repair, maintain, operate, sell, convey, transfer, lease, or

otherwise dispose of industrial plants or business establishments; (F) To acquire, subscribe for, own, hold, sell, assign, transfer, mortgage, pledge, or

otherwise dispose of the stock, shares, bonds, debentures, notes, or other securities

and evidences of interest in, or indebtedness of, any person, firm, corporation, joint

stock company, association, or trust, and while the owner or holder thereof to exercise

all the rights, powers, and privileges of ownership, including the right to vote thereon; (G) To mortgage, pledge, or otherwise encumber any property acquired pursuant to the

powers contained in divisions (D), (E), or (F) of this section; (H) To cooperate with and avail itself of the facilities of the state commission or division

concerned with economic development and of the department of commerce or any similar

governmental agency insofar as such powers and purposes are conferred upon said governmental

agencies and such state agencies are hereby authorized to cooperate and aid insofar

as the powers conferred upon them authorize them so to do; (I) To do all acts and things necessary or convenient to carry out the powers especially

created in Chapter 1726. of the Revised Code.