Ohio Revised Code Search

...ised Code. (B) Except as otherwise provided in this section, an agreement between an account debtor and an assignor not to assert against an assignee any claim or defense that the account debtor may have against the assignor is enforceable by an assignee that takes an assignment: (1) For value; (2) In good faith; (3) Without notice of a claim of a property or possessory right to the property assigned; and (4) Wi...

...A financing statement sufficiently provides the name of the debtor: (1) Except as otherwise provided in division (A)(3) of this section, if the debtor is a registered organization or the collateral is held in a trust that is a registered organization, only if the financing statement provides the name that is stated to be the registered organization's name on the public organic record most recently filed with ...

...(A) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if: (1) The debtor authorizes the filing in an authenticated record or pursuant to division (B) or (C) of this section; or (2) The person holds an agricultural lien that has become effective at the time of filing, and the financing state...

...ivision (A) of this section must: (1) Identify the record to which it relates by: (a) The file number assigned to the initial financing statement to which the record relates; and (b) If the information statement relates to a record filed in a filing office described in division (A)(1) of section 1309.501 of the Revised Code, the date and time that the initial financing statement was filed and the information ...

...o the person an acknowledgment that provides: (1) The information in the record; (2) The number assigned to the record pursuant to division (A)(1) of section 1309.519 of the Revised Code; and (3) The date and time of the filing of the record. (C) The filing office shall communicate or otherwise make available in a record all of the following information to any person who requests it: (1) Whether there is on file...

...lt, a secured party has the rights provided in sections 1309.601 to 1309.628 of the Revised Code and, except as otherwise provided in section 1309.602 of the Revised Code, those provided by agreement of the parties. A secured party: (1) May reduce a claim to judgment, foreclose, or otherwise enforce the claim, security interest, or agricultural lien by any available judicial procedure; and (2) If the collate...

...Except as otherwise provided in section 1309.624 of the Revised Code, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the following provisions of the Revised Code; (A) Division (B)(4)(c) of section 1309.207 of the Revised Code, which relates to the use and operation of the collateral by the secured party; (B) Section 1309.2...

... security agreement that creates or provides for a security interest in the obligation secured by the mortgage; and (2) The secured party's sworn affidavit in recordable form stating that: (a) A default has occurred with respect to the obligation secured by the mortgage; and (b) The secured party is entitled to enforce the mortgage nonjudicially. (C) A secured party shall proceed in a commercially reasonabl...

...ght to notification. (B) Except as provided in division (D) of this section, a secured party who disposes of collateral under section 1309.610 of the Revised Code shall send a reasonable authenticated notification of disposition to the persons specified in division (C) of this section. (C) To comply with division (B) of this section, the secured party shall send an authenticated notification of disposition to: (1)...

...is entitled to an accounting of the unpaid indebtedness and states the charge, if any, for an accounting; and (e) States the time and place, by identifying the place of business or address or by providing other information that, in each case, reasonably describes the location, of a public disposition or the time after which any other disposition is to be made. (2) Whether the contents of a notification that lacks a...

... A notification of disposition must provide all of the following information: (a) The information specified in division (A)(1) of section 1309.613 of the Revised Code; (b) A description of any liability for a deficiency of the person to whom the notification is sent; (c) A telephone number from which the amount that must be paid to the secured party to redeem the collateral under section 1309.623 of the Revised Co...

..., and disposing, and, to the extent provided for by agreement and not prohibited by law, reasonable attorney's fees and legal expenses incurred by the secured party; (2) The satisfaction of obligations secured by the security interest or agricultural lien under which the disposition is made; (3) The satisfaction of obligations secured by any subordinate security interest in or other subordinate lien on the collater...

... of the surplus or deficiency; (b) Provides an explanation in accordance with division (C) of this section of how the secured party calculated the surplus or deficiency; (c) States, if applicable, that future debits, credits, charges, including additional credit service charges or interest, rebates, and expenses may affect the amount of the surplus or deficiency; and (d) Provides a telephone number or mailing addr...

...(A) A debtor or secondary obligor may waive the right to notification of disposition of collateral under section 1309.611 of the Revised Code only by an agreement to that effect entered into and authenticated after default. (B) A debtor may waive the right to require disposition of collateral under division (E) of section 1309.620 of the Revised Code only by an agreement to that effect entered into and authenticated...

...ternative financing. (C) Except as provided in section 1309.628 of the Revised Code: (1) A person who, at the time of the failure, was a debtor, was an obligor, or held a security interest in or other lien on the collateral may recover damages under division (B) of this section for its loss; and (2) If the collateral is consumer goods, a person who was a debtor or a secondary obligor at the time a secured party fa...

...of the Revised Code. (C) Except as provided in section 1309.628 of the Revised Code, if a secured party fails to prove that the collection, enforcement, disposition, or acceptance was conducted in accordance with sections 1309.601 to 1309.628 of the Revised Code relating to collection, enforcement, disposition, or acceptance, the liability of a debtor or a secondary obligor for a deficiency is limited to an amount b...

...erson is a debtor or obligor, knows the identity of the person, and knows how to communicate with the person: (1) The secured party is not liable to the person, or to a secured party or lienholder that has filed a financing statement against the person, for failure to comply with this chapter; and (2) The failure of the secured party to comply with this chapter does not affect the liability of the person for a defi...

... or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in sections 1309.301 to 1309.342 of the Revised Code, as they exist on July 1, 2001. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financ...

...ary in which financial transactions are identified and recorded as debit or credit transactions in order to summarize items of a similar nature or classification. (B) "Accounting procedure" means the arrangement of all processes which discover, record, and summarize financial information to produce financial statements and reports and to provide internal control. (C) "Accounting system" means the total structur...

... participate in the federal program providing the revenue, and the agency is not required to obtain an executive order under section 107.17 of the Revised Code to participate in the federal program. (B) With respect to nonfederal revenue received into any fund of the state, except for any other fund listed in division (D) of section 127.14 of the Revised Code: (1) No state agency may make expenditures of any of t...

...or not it is specific, if it reasonably identifies what is described. (C) A writing is not insufficient because it omits or incorrectly states a term agreed upon, but the lease contract is not enforceable under division (A)(2) of this section beyond the lease term and the quantity of goods shown in the writing. (D) A lease contract that does not satisfy the requirements of division (A) of this section but that is v...

...urable interest when existing goods are identified to the lease contract, even though the goods identified are nonconforming, and the lessee has an option to reject them. (B) If a lessee has an insurable interest only by reason of the lessor's identification of the goods, the lessor, until default or insolvency or notification to the lessee that identification is final, may substitute other goods for those identifie...

...of the Revised Code. (B) Except as provided in division (C) of this section and section 1309.407 of the Revised Code, a provision in a lease agreement that prohibits the voluntary or involuntary transfer, including a transfer by sale, sublease, creation or enforcement of a security interest, or attachment, levy, or other judicial process, of an interest of a party under the lease contract or of the lessor's residu...

...(A) For purposes of this section, goods are "accessions" when they are installed in or affixed to other goods. (B) The interest of a lessor or a lessee under a lease contract entered into before the goods became accessions is superior to all interests in the whole except as stated in division (D) of this section. (C) The interest of a lessor or a lessee under a lease contract entered into at the time or after the g...

...ances of the particular case is not provided to the insecure party within a reasonable time, not to exceed thirty days after receipt of a demand by the other party. (D) Between merchants, the reasonableness of grounds for insecurity and the adequacy of any assurance offered shall be determined according to commercial standards. (E) Acceptance of any nonconforming delivery or payment does not prejudice the aggrieved...