Governor John Kasich this week ceremonially signed into law Senate Bill 202, jointly sponsored by Senators Larry Obhof (R–Medina) and Eric Kearney (D–Cincinnati). The bipartisan legislation revises several provisions of Ohio’s corporate law. The bill updates Ohio laws to reflect changes that have occurred in public markets since their adoption more than 20 years ago.
“This bill will update and improve Ohio’s corporate law,” Obhof said.
Governor Kasich also recently signed House Bill 261, which will make operational and administrative changes to the Court of Claims.
Obhof co-sponsored the bill, which will increase efficiency and save tax dollars by reforming the court and eliminating the Office of the Commissioner of the Court of Claims. The changes are expected to save the state between $100,000 and $200,000 annually.
“These changes will improve court operations and save the taxpayers tens of thousands of dollars,” said Obhof.
Both bills will take effect this summer.