Section 4971.13 | Mortgaged Property May Be Sold Without Appraisement.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Railroads and other property mortgaged by a reorganized railroad company, if the court deems it expedient, may be sold without appraisement, at judicial sales under judgments upon such mortgage but the court shall fix a minimum sum below which no sale shall […]
Section 4971.14 | Creditors May Agree on Capitalization – Notice.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly When judicial proceedings are pending in a court for the sale of a railroad, and such railroad is in the hands of a receiver appointed by such court, two thirds in interest of each class of mortgagees or holders of the bonds […]
Section 4971.15 | Stocks or Bonds Held in a Fiduciary Capacity.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly When a portion of the stock or bonds of a railroad company is held by the state, by a county, township, or municipal corporation, or by an executor, administrator, guardian, or otherwise in a fiduciary capacity, the governor, board of county commissioners, […]
Section 4971.16 | Rights of Creditors Who Do Not Sign Agreement.
Effective: October 12, 2016 Latest Legislation: House Bill 158 – 131st General Assembly As used in this section, “incompetent person” means a person who is so mentally impaired, as a result of a mental or physical illness or disability, as a result of an intellectual disability, or as a result of chronic substance abuse, that […]
Section 4971.05 | Property of New Company.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly 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 […]
Section 4971.06 | Issue of Stock or Securities.
Effective: July 30, 1984 Latest Legislation: House Bill 250 – 115th General Assembly In cases of railroad companies organized or reorganized under the laws of this state, in which the organization or reorganization agreement provides and stipulates that any class of creditors, bondholders, or stockholders of the original company, shall in any way be restricted […]
Section 4969.19 | Purchaser at Judicial Sale May Sell Railroad.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly The purchaser of the property, roadbeds, rights of way, fixtures, and franchises of a railroad company in this state, situated wholly or in part in this state, sold pursuant to judicial order, judgment, or decree, and which sale is confirmed by the […]
Section 4969.20 | Any Number of Persons May Purchase and Incorporate.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly A railroad company organized or existing under the laws of this state may purchase the property as provided in section 4969.19 of the Revised Code. Any number of persons may purchase such railroad, roadbeds, rights of way, property, and franchises either directly […]
Section 4969.21 | May Issue Stock and Bonds to Pay Purchase Price.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly A corporation may provide for the purchase price of the railroad and other property bought as provided in section 4969.20 of the Revised Code by the issue of its capital stock, preferred or common, and bonds secured by mortgage or otherwise, bearing […]
Section 4969.22 | Certain Rights of Way Forfeited.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Where a right of way, or part thereof, upon an unfinished railroad remains for ten years unused for railroad purposes, it shall be held forfeited and shall revert to the owner of the land, unless at least twenty miles of the railroad […]