Ohio § 731.56
Full text of Ohio Ohio Revised Code § 731.56, with citation guidance and answers to common questions.
§ 731.56.
The legislative authority of a municipal corporation may, by ordinance, provide that
whenever there are moneys in the treasury of such municipal corporation which will
not be required to be used by such municipal corporation for a period of six months
or more, such moneys may be invested in obligations of such municipal corporation,
obligations made eligible for the deposit or investment of interim moneys of subdivisions
of the state under section 135.14 of the Revised Code , bonds of this state, and bonds of any municipal corporation, county, township, or
other political subdivision of this state, as to which there is no default of principal,
interest, or coupons. Such investments shall not be made at a price in excess of the current market value
of such bonds or other interest-bearing obligations. Such bonds or other interest-bearing obligations may be liquidated or sold for cash
and for a sum not less than their current market price, in the manner prescribed in sections 731.57 to 731.59 of the Revised Code .
Frequently Asked Questions About Ohio § 731.56
What does Ohio Revised Code § 731.56 cover?
Section 731.56 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 § 731.56?
A common citation format is "Ohio Revised Code § 731.56" (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 § 731.56 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.