Ohio Revised Code Search

...est continues and is subject to Chapter 1309. of the Revised Code, but: (1) A security agreement is not necessary to make the security interest enforceable under division (B)(3) of section 1309.203 of the Revised Code; (2) If the document is presented in a medium other than a written or other tangible medium, the security interest is perfected; and (3) If the document is presented in a written or other tangible me...

...division (B) of this section, sections 1306.01 to 1306.23 of the Revised Code apply to electronic records and electronic signatures relating to a transaction. (B) Sections 1306.01 to 1306.23 of the Revised Code do not apply to a transaction to the extent it is governed by any of the following: (1) A law governing the creation and execution of wills, codicils, or testamentary trusts; (2) Chapter 1301., excep...

... both of the following are satisfied: (1) The electronic record accurately and completely reflects the information set forth in the record after it was first generated in its final form as an electronic record or otherwise. (2) The electronic record remains accessible for later reference. (B) A requirement to retain a record in accordance with division (A) of this section does not apply to any information the sole...

...t. (D) For purposes of this section: (1) "Consumer" means an individual who is involved in a transaction primarily for personal, family, or household purposes. (2) "State agency" means every organized body, office, or agency established by the laws of the state for the exercise of any function of state government. (3) "County office" means any officer, department, board, commission, agency, court, or other instru...

...itions and index of definitions [UCC 7-102] (A) As used in sections 1307.101 to 1307.603 of the Revised Code, unless the context otherwise requires: (1) "Bailee" means a person that by a warehouse receipt, bill of lading, or other document of the title acknowledges possession of goods and contracts to deliver them. (2) "Carrier" means a person that issues a bill of lading. (3) "Consignee" means a person name...

...of electronic document of title [UCC 7-106] (A) A person has control of an electronic document of title if a system employed for evidencing the transfer of interests in the electronic document reliably establishes that person as the person to which the electronic document was issued or transferred. (B) A system satisfies division (A) of this section, and a person is deemed to have control of an electronic doc...

...to a person injured by its omission: (1) A statement of the location of the warehouse facility where the goods are stored; (2) The date of issue of the receipt; (3) The unique identification code of the receipt; (4) A statement whether the goods received will be delivered to the bearer, to a named person, or to a named person or its order; (5) The rate of storage and handling charges, unless goods are store...

...curity interest is governed by Chapter 1309. of the Revised Code. (C) A warehouse's lien for charges and expenses under division (A) of this section or a security interest under division (B) of this section is also effective against any person that so entrusted the bailor with possession of the goods that a pledge of them by the bailor to a good faith purchaser for value would have been valid. However, the lie...

...Enforcement of warehouse's lien [UCC 7-210] (A) Except as otherwise provided in division (B) of this section, a warehouse's lien may be enforced by public or private sale of the goods, in bulk or in packages, at any time or place and on any terms that are commercially reasonable, after notifying all persons known to claim an interest in the goods. The notification must include a statement of the amount due, th...

...and count"; improper handling [UCC 7-301] (A) A consignee of a nonnegotiable bill of lading which has given value in good faith, or a holder to which a negotiable bill has been duly negotiated, relying upon the description of the goods in the bill or upon the date shown in the bill, may recover from the issuer damages caused by the misdating of the bill or the nonreceipt or misdescription of the goods, except...

...the bill or other document occurred: (1) The amount it may be required to pay to any person entitled to recover on the bill or other document for the breach, as may be evidenced by any receipt, judgment, or transcript of judgment; and (2) The amount of any expense reasonably incurred by the issuer in defending any action commenced by any person entitled to recover on the bill or other document for the breach.

...or misdelivery, on instructions from: (1) the holder of a negotiable bill; (2) the consignor on a nonnegotiable bill, even if the consignee has given contrary instructions; (3) the consignee on a nonnegotiable bill in the absence of contrary instructions from the consignor, if the goods have arrived at the billed destination or if the consignee is in possession of the tangible bill or in control of the electro...

...terest in the goods and that did not: (1) Deliver or entrust the goods or any document of title covering the goods to the bailor or the bailor's nominee with: (a) Actual or apparent authority to ship, store, or sell; (b) Power to obtain delivery under section 1307.403 of the Revised Code; or (c) Power of disposition under division (C) of section 1309.321 or section 1302.44, 1309.320, 1310.32, or 1310.33 of the...

...ts of the transferee may be defeated: (1) By those creditors of the transferor which could treat the transfer as void under section 1302.43 or 1310.36 of the Revised Code; (2) By a buyer from the transferor in ordinary course of business if the bailee has delivered the goods to the buyer or received notification of the buyer's rights; (3) By a lessee from the transferor in ordinary course of business if the b...

...rity, "issuer" includes a person who: (1) Places or authorizes the placing of its name on a security certificate, otherwise than as authenticating trustee, registrar, transfer agent, or the like, to evidence a share, participation, or other interest in its property or in an enterprise, or to evidence its duty to perform an obligation represented by the certificate; (2) Creates shares, participations, or other inter...

...ithout actual knowledge of it unless: (1) The security is certificated and the restriction is noted conspicuously on the security certificate; or (2) The security is uncertificated and the registered owner has been notified of the restriction. (B) A lien in favor of an issuer upon a certificated security is valid against a purchaser only if the right of the issuer to the lien is noted conspicuously on the security...

...t is incomplete in any other respect: (1) Any person may complete it by filling in the blanks as authorized; and (2) Even if the blanks are incorrectly filled in, the security as completed is enforceable by a purchaser who took it for value and without notice of the incorrectness. (B) A complete security certificate that has been improperly altered, even if fraudulently, remains enforceable, but only according to ...

...otice of the particular defect, that: (1) The certificate is genuine; (2) The person's own participation in the issue of the security is within the person's capacity and within the scope of the authority received by the person from the issuer; and (3) The person has reasonable grounds to believe the certificated security is in the form and within the amount the issuer is authorized to issue. (B) Unless otherwise ...

...rity, or of an interest therein, who: (1) Gives value; (2) Does not have notice of any adverse claim to the security; and (3) Obtains control of the certificated or uncertificated security. (B) In addition to acquiring the rights of a purchaser, a protected purchaser also acquires its interest in the security free of any adverse claim.

...rest therein, under this chapter, if: (1) The person is a purchaser to whom a security is delivered pursuant to section 1308.27 of the Revised Code; or (2) The person acquires a security entitlement to the security pursuant to section 1308.51 of the Revised Code. (B) A person acquires a financial asset, other than a security, or an interest therein, under this chapter, if the person acquires a security entitlement...

... to the securities intermediary that: (1) The entitlement order is made by an appropriate person, or if the entitlement order is by an agent, the agent has actual authority to act on behalf of the appropriate person; and (2) There is no adverse claim to the security entitlement. (B) A person who delivers a security certificate to a securities intermediary for credit to a securities account or originates an instruc...

...ne except a bona fide purchaser, may: (1) Reclaim possession of the certificated security wrongfully transferred; (2) Obtain possession of any new certificated security representing all or part of the same rights; (3) Compel the origination of an instruction to transfer to him or a person designated by him an uncertificated security constituting all or part of the same rights; or (4) Have damages. (B) If the tra...

..., or broker or other agent or bailee: (1) Took the action after it had been served with an injunction, restraining order, or other legal process enjoining it from doing so, issued by a court of competent jurisdiction, and had a reasonable opportunity to act on the injunction, restraining order, or other legal process; or (2) Acted in collusion with the wrongdoer in violating the rights of the adverse claimant; or ...

...egister the transfer as requested if: (1) Under the terms of the security the person seeking registration of transfer is eligible to have the security registered in its name; (2) The indorsement or instruction is made by the appropriate person or by an agent who has actual authority to act on behalf of the appropriate person; (3) Reasonable assurance is given that the indorsement or instruction is genuine and auth...

...Except as otherwise provided in section 1308.41 of the Revised Code. An issuer is liable for wrongful registration of transfer if the issuer has registered a transfer of a security to a person not entitled to it, and the transfer was registered: (1) Pursuant to an ineffective indorsement or instruction; (2) After a demand that the issuer not register transfer became effective under division (A) of section 1308.39 o...