Ohio Code 1726.15 – Investing in housing partnerships
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Any financial institution, as defined in division (A) of section 1726.01 of the Revised Code, except a building and loan association, may purchase for its own account, hold, or dispose of shares of stock issued by a corporation created under the “Housing and Urban Development Act of 1968,” 82 Stat. 476, 42 U.S.C. § 3931, and may make, hold, or dispose of investments in a partnership, limited partnership, or joint venture formed under section 907 (a) or section 907 (c) of such act.
Terms Used In Ohio Code 1726.15
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.