Ohio Code § 1702.50
Ohio Code § 1702.50. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1702.50.
(A) Without limiting the generality of its authority, the court of common pleas of the
county in this state in which is located the principal office of a voluntarily dissolved
corporation or of a corporation whose articles have been canceled or whose period
of existence has expired, upon the complaint of the corporation, a majority of the
directors, or a creditor or member, and upon such notice to all the directors and
such other persons interested as the court considers proper, at any time may order
and adjudge in respect to the following matters: (1) The presentation and proof of all claims and demands against the corporation and
of all rights, interests, or liens in or on any of its property; the fixing of the
time within which and the manner in which such proof shall be made and the person
to whom such presentation shall be made; and the barring from participation in any
distribution of assets of all persons failing to make and present proofs as required
by the order of the court; (2) The stay of the prosecution of any proceeding against the corporation or involving
any of its property, and the requirement that the parties to it present and prove
their claims, demands, rights, interests, or liens at the time and in the manner required
of creditors or others; or the grant of leave to bring or maintain an independent
proceeding to enforce liens; (3) The settlement or determination of all claims of every nature against the corporation
or any of its property; the determination of the assets required to be retained to
pay or provide for the payment of such claims or any claim; the determination of
the assets available for distribution among members and others; and the making of
new parties to the proceeding so far as the court considers proper for the determination
of all matters; (4) The determination of the rights of members or others in and to the assets of the
corporation; (5) The presentation and the filing of intermediate and final accounts of the directors
or of the liquidators and hearings on them; the allowance, disallowance, or settlement
of such accounts; and the discharge of the directors, the liquidators, or any of
them from their duties and liabilities; (6) The appointment of a special master commissioner to hear and determine any such matters
with such authority as the court considers proper; (7) The filling of any vacancies in the number of directors or liquidators when the directors
are unable to act on the vacancies for want of a quorum or for any other reason; (8) The appointment of a receiver, in accordance with the usages of a court in equitable
matters, to wind up the affairs of the corporation, to take custody of any of its
property, or for any other purpose; (9) The issuance or entry of any injunction or any other order that the court considers
proper in the administration of the trust involved in the winding up of the affairs
of the corporation and the giving of notice of it; (10) The allowance and payment of compensation to the directors or any of them, to liquidators,
to a receiver, to the attorney for the complainant, or to any person properly rendering
services beneficial to the corporation or to those interested in it; (11) The entry of a judgment or decree that, if it so provides, may operate as the deed
or other instrument ordered to be executed, or the appointment of a master to execute
such deed or instrument in the name of the corporation with the same effect as if
executed by an authorized officer pursuant to authority conferred by the directors
or the voting members of the corporation, whenever there is no officer or agent competent
to execute such deed or instrument, whenever the corporation or its officers do not
perform or comply with a judgment or decree of court, or whenever the court considers
it proper. (B) A judicial proceeding under this section concerning the winding up of the affairs
of a corporation is a special proceeding, and final orders in the proceeding may be
vacated, modified, or reversed on appeal pursuant to the Rules of Appellate Procedure
and, to the extent not in conflict with those rules, Chapter 2505. of the Revised
Code.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1702.50
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Ohio Revised Code. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Ohio attorney.
Common questions
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The text above is transcribed from the Ohio Revised Code, the codified statutes of Ohio. The official publisher link appears under "Verify the text" on this page.
What subject does Ohio Revised Code § 1702.50 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Ohio Revised Code § 1702.50 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Ohio source before relying on this text.
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