Ohio § 1701.94 Forfeiture by corporation for failure to comply with certain requirements

Ohio Statutes

§ 1701.94 — Forfeiture by corporation for failure to comply with certain requirements

Ohio § 1701.94

Title 17Corporations-Partnerships

Ch. 1701General Corporation Law

This text of Ohio § 1701.94 (Forfeiture by corporation for failure to comply with certain requirements) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 1701.94 (2026).

Text

(A)Every corporation that fails to:

(1)Keep the books of account, minutes of proceedings, or records of shareholders as required by section1701.37of the Revised Code;

(2)Comply with division (C) of section1701.11of the Revised Code with respect to mailing a copy of an amendment to, or copy of new, regulations;

(3)Perform the obligation imposed on it by division (C) of section1701.25of the Revised Code;

(4)Send to any shareholder making written request therefor, within the period provided for in division (C) of section1701.38of the Revised Code, a copy of any financial statement, written statement, or report, as applicable, referred to in that section;

(5)Lay before the shareholders or make available in the manner provided for in division (D) of section1701.38of the Revised Code

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(A) Every corporation that fails to:

(1) Keep the books of account, minutes of proceedings, or records of shareholders as required by section1701.37of the Revised Code;

(2) Comply with division (C) of section1701.11of the Revised Code with respect to mailing a copy of an amendment to, or copy of new, regulations;

(3) Perform the obligation imposed on it by division (C) of section1701.25of the Revised Code;

(4) Send to any shareholder making written request therefor, within the period provided for in division (C) of section1701.38of the Revised Code, a copy of any financial statement, written statement, or report, as applicable, referred to in that section;

(5) Lay before the shareholders or make available in the manner provided for in division (D) of section1701.38of the Revised Code at a proper meeting of shareholders, upon request of any shareholder at such meeting, such financial statement, written statement, or report, as applicable;

(6) Produce at a meeting of shareholders, upon request of any shareholder at such meeting, the list or lists of shareholders required by section1701.37of the Revised Code; shall be subject to a forfeiture of one hundred dollars and in cases under paragraphs (1), (2), (3), and (4) to a further forfeiture of ten dollars for every day that such failure continues, beginning, in cases under paragraphs (1) or (2), with the fifth day after written request by a shareholder that the corporation comply with said respective paragraphs, and in cases under paragraphs (3) and (4) beginning with the day following the day on which the corporation becomes delinquent in complying with said paragraph, which amount shall be paid to every shareholder making such request. The right of a shareholder to enforce any such forfeiture is in addition to all other remedies.

(B) If any officer charged with one of the duties specified in division (A) of this section fails to perform such duty after written request by any shareholder, the officer shall be subject to a forfeiture of one hundred dollars, and to the further forfeiture of ten dollars for every day that such default continues, beginning in cases under paragraphs (1), (2), (3), and (4) of division (A) on the same respective days as are provided for in division (A), which amount shall be paid to each shareholder making such request. The right of each shareholder to enforce any such forfeiture is in addition to all other remedies.

(C) The court in which an action is brought to enforce any forfeiture under this section may reduce, remit, or suspend such forfeiture on such terms as it deems reasonable when it appears that the failure was excusable or that the imposition of the full forfeiture would be unreasonable or unjust.