Ohio § 4981.10 Conditions for purchasing property, facilities or equipment

Ohio Statutes

§ 4981.10 — Conditions for purchasing property, facilities or equipment

Ohio § 4981.10

Title 49Public Utilities

Ch. 4981Rail Development Commission

This text of Ohio § 4981.10 (Conditions for purchasing property, facilities or equipment) 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. § 4981.10 (2026).

Text

As long as such action does not violate covenants made on behalf of or for the benefit of the holders of bonds, notes, or other obligations of the Ohio rail development commission, the Ohio rail development commission may purchase any portion of the rail property of a railroad corporation and may purchase any other property, facilities, or equipment considered necessary by the commission for the operation of rail services, subject to the following conditions:

(A)Upon inspection of the rail property the commission determines that the rail property is suitable for the efficient operation of rail services;

(B)The controlling board approves the purchase of the rail property by an affirmative vote of no fewer than five members.

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

As long as such action does not violate covenants made on behalf of or for the benefit of the holders of bonds, notes, or other obligations of the Ohio rail development commission, the Ohio rail development commission may purchase any portion of the rail property of a railroad corporation and may purchase any other property, facilities, or equipment considered necessary by the commission for the operation of rail services, subject to the following conditions:

(A) Upon inspection of the rail property the commission determines that the rail property is suitable for the efficient operation of rail services;

(B) The controlling board approves the purchase of the rail property by an affirmative vote of no fewer than five members.