Ohio § 4971.05
Full text of Ohio Ohio Revised Code § 4971.05, with citation guidance and answers to common questions.
§ 4971.05.
Upon reorganization and a conveyance by the trustees, or of such of them as are vested
with the legal title, or their survivors, the railroad and other property, franchises,
and things purchased, and the franchises, powers, faculties, privileges, and immunities
which were possessed and enjoyed by the original railroad company, or by any company
with which it had been consolidated, shall be vested in the company as reorganized. Such property, franchises, and things, and all property and things which the reorganized
company thereafter acquires shall be taken, held, and disposed of for the use and
benefit of the creditors and stockholders of the company who become such upon and
after the reorganization, according to their respective rights, but subject to the
powers of the company, and in no wise chargeable in respect to any debt, liability,
or claim of any creditor or stockholder which subsisted prior to the sale and reorganization. All property of the original company not embraced in the sale shall be vested in
the company as reorganized, in trust for all parties interested in such property as
creditors, stockholders, or otherwise.
Frequently Asked Questions About Ohio § 4971.05
What does Ohio Revised Code § 4971.05 cover?
Section 4971.05 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 § 4971.05?
A common citation format is "Ohio Revised Code § 4971.05" (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 § 4971.05 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.