Ohio § 4953.09
Full text of Ohio Ohio Revised Code § 4953.09, with citation guidance and answers to common questions.
§ 4953.09.
Any union terminal company may borrow money for the purpose of carrying out the powers
conferred by sections 4953.01 to 4953.12, inclusive, of the Revised Code , without reference to the amount of stock of such company, and may also issue coupon,
registered, or other bonds payable to bearer, bearing interest not exceeding the highest
contract rate of interest allowable in this state at the time, payable semiannually. Such company may mortgage its franchises, property, and revenues of every kind owned
at the time such money is borrowed or such bonds are issued or subsequently acquired,
to secure the payment of such loan, bonds, and interest. The stockholders of such company may jointly and severally guarantee the payment
of any notes or bonds the company lawfully issues, and the company may dispose of
such notes or bonds at such rate of premium or discount as the board of directors
deems best for the interests of the company. It is sufficient to record any mortgage securing such loan or bonds in the real
estate records of the county where the depot, terminal, yards, or tracks of the company
are constructed.
Frequently Asked Questions About Ohio § 4953.09
What does Ohio Revised Code § 4953.09 cover?
Section 4953.09 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 § 4953.09?
A common citation format is "Ohio Revised Code § 4953.09" (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 § 4953.09 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.