Effective: October 1, 1953
Latest Legislation: House Bill 1 - 100th General Assembly
When a sale referred to in section 4969.12 of the Revised Code is made and reported to the court, if satisfied that it was conducted according to law and its order, the court shall confirm the sale and order the receiver to execute and deliver to the purchaser a deed of conveyance for the railroad, roadbed, rights of way, real estate, fixtures, and franchises so sold.
The proceeds of the sale, after paying the costs and expenses thereof and the unpaid expenses of the trust against the company, shall be distributed pro rata among all the creditors of the company.
Structure Ohio Revised Code
Chapter 4969 | Railroad Sales; Railroad Receivers
Section 4969.01 | Sale of Roadbed and Right of Way.
Section 4969.02 | Consent to Sale by Stockholders.
Section 4969.03 | Dissenting Stockholder May Retain Interest.
Section 4969.04 | Title Vests in Grantee.
Section 4969.05 | Certain Contracts of Sale Void Unless Recorded.
Section 4969.06 | Parties May Provide for a Conditional Sale in a Lease.
Section 4969.07 | Sale of Equipment.
Section 4969.09 | Application of Funds - Lien.
Section 4969.10 | Receiver Must Deposit Money.
Section 4969.11 | Venue - Service.
Section 4969.12 | Certain Railroads May Be Sold at Judicial Sale.
Section 4969.13 | Receiver Must Petition for Sale.
Section 4969.14 | Order for Appraisement.
Section 4969.15 | Notice of Sale to Be Published.
Section 4969.16 | Confirmation of Sale and Deed - Distribution of Proceeds.
Section 4969.17 | Who May Purchase Property.
Section 4969.18 | Purchaser May Acquire Franchise.
Section 4969.19 | Purchaser at Judicial Sale May Sell Railroad.
Section 4969.20 | Any Number of Persons May Purchase and Incorporate.
Section 4969.21 | May Issue Stock and Bonds to Pay Purchase Price.