Ohio § 1745.40
Full text of Ohio Ohio Revised Code § 1745.40, with citation guidance and answers to common questions.
§ 1745.40.
(A) Except as otherwise provided in division (B) of this section, an unincorporated nonprofit
association may not pay dividends or distribute any part of its income or profits
to a member, manager, officer, or other private person. (B) An unincorporated nonprofit association may do any of the following: (1) Pay reasonable compensation or reimburse reasonable expenses to a member or manager
for services rendered; (2) Confer benefits on a member or manager in conformity with its nonprofit purposes; (3) Repurchase a membership and repay a capital contribution made by a member to the
extent authorized by its governing principles; (4) Make distributions of property to members upon winding up and termination to the
extent permitted by section 1745.52 of the Revised Code .
Frequently Asked Questions About Ohio § 1745.40
What does Ohio Revised Code § 1745.40 cover?
Section 1745.40 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 § 1745.40?
A common citation format is "Ohio Revised Code § 1745.40" (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 § 1745.40 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.