Ohio § 3314.074 Distributing assets of school permanently closed

Ohio Statutes

§ 3314.074 — Distributing assets of school permanently closed

Ohio § 3314.074

Title 33Education-Libraries

Ch. 3314Community Schools

This text of Ohio § 3314.074 (Distributing assets of school permanently closed) 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. § 3314.074 (2026).

Text

Divisions (A) and (B) of this section apply only to the extent permitted under Chapter 1702. of the Revised Code.

(A)If any community school established under this chapter permanently closes and ceases its operation as a community school, the assets of that school shall be distributed first to the retirement funds of employees of the school, employees of the school, and private creditors who are owed compensation, and then any remaining funds shall be paid to the department of education and workforce for redistribution to the school districts in which the students who were enrolled in the school at the time it ceased operation were entitled to attend school under section3313.64or3313.65of the Revised Code. The amount distributed to each school district shall be proportional to the distri

Free access — add to your briefcase to read the full text and ask questions with AI

Divisions (A) and (B) of this section apply only to the extent permitted under Chapter 1702. of the Revised Code.

(A) If any community school established under this chapter permanently closes and ceases its operation as a community school, the assets of that school shall be distributed first to the retirement funds of employees of the school, employees of the school, and private creditors who are owed compensation, and then any remaining funds shall be paid to the department of education and workforce for redistribution to the school districts in which the students who were enrolled in the school at the time it ceased operation were entitled to attend school under section3313.64or3313.65of the Revised Code. The amount distributed to each school district shall be proportional to the district's share of the total enrollment in the community school. For any community school that closes after fiscal year 2021, any remaining funds shall be paid to the department and deposited into the state general revenue fund.

(B) If a community school closes and ceases to operate as a community school and the school has received computer hardware or software from the former Ohio SchoolNet commission or the former eTech Ohio commission, such hardware or software shall be turned over to the department, which shall redistribute the hardware and software, to the extent such redistribution is possible, to school districts in conformance with the provisions of the programs as they were operated and administered by the former eTech Ohio commission.

(C) If the assets of the school are insufficient to pay all persons or entities to whom compensation is owed, the prioritization of the distribution of the assets to individual persons or entities within each class of payees may be determined by decree of a court in accordance with this section and Chapter 1702. of the Revised Code.

(D) A community school that engages in a merger or consolidation pursuant to division (B) of section1702.41of the Revised Code and becomes a single public benefit corporation shall not be required to distribute assets pursuant to divisions (A), (B), and (C) of this section, provided that the governing authority of the community school created by the merger or consolidation enters into a contract for sponsorship under section3314.03of the Revised Code with an entity rated "effective" or higher by the department pursuant to section3314.016of the Revised Code.

Last updated August 21, 2023 at 2:43 PM