Ohio Revised Code Search

... registering the transfer under section 1308.40 of the Revised Code or any claim to a new security under this section. (B) If the owner of a certificated security, whether in registered or bearer form, claims that the security has been lost, destroyed, or wrongfully taken, the issuer shall issue a new certificate if the owner: (1) So requests before the issuer has notice that the security has been acquired by a pro...

...tlement if a securities intermediary: (1) Indicates by book entry that a financial asset has been credited to the person's securities account; (2) Receives a financial asset from the person or acquires a financial asset for the person and, in either case, accepts it for credit to the person's securities account; or (3) Becomes obligated under other law, regulation, or rule to credit a financial asset to the person...

...except as otherwise provided in section 1308.61 of the Revised Code. (B) An entitlement holder's property interest with respect to a particular financial asset under division (A) of this section is a pro rata property interest in all interests in that financial asset held by the securities intermediary, without regard to the time the entitlement holder acquired the security entitlement or the time the securities int...

...y in division (A) of this section if: (1) The securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or (2) In the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to obtain and maintain the financial asset. (D) This section does not apply to a clearing corporation that is...

...s intermediary satisfies the duty if: (1) The securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or (2) In the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to attempt to obtain the payment or distribution. (B) A securities intermediary is obligated to its entitleme...

...s intermediary satisfies the duty if: (1) The securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or (2) In the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to comply with the entitlement order. (B) If a securities intermediary transfers a financial asset pursuant t...

...n a securities intermediary by sections 1308.54 to 1308.58 of the Revised Code is the subject of other statute, regulation, or rule, compliance with that statute, regulation, or rule satisfies the duty. (B) To the extent that specific standards for the performance of the duties of a securities intermediary or the exercise of the rights of an entitlement holder are not specified by other statute, regulation, or rule ...

... has control of a deposit account if: (1) The secured party is the bank with which the deposit account is maintained; (2) The debtor, secured party, and bank have agreed in an authenticated record that the bank will comply with instructions originated by the secured party directing disposition of the funds in the deposit account without further consent by the debtor; or (3) The secured party becomes the bank's cus...

..., and assigned in such a manner that: (1) A single authoritative copy of the record or records exists that is unique, identifiable, and, except as otherwise provided in divisions (B)(4), (5), and (6) of this section, unalterable; (2) The authoritative copy identifies the secured party as the assignee of the record or records; (3) The authoritative copy is communicated to and maintained by the secured party or...

...rity entitlement as provided in section 1308.24 of the Revised Code. (B) A secured party has control over a commodity contract if: (1) The secured party is the commodity intermediary with which the commodity contract is carried; or (2) The commodity customer, secured party, and commodity intermediary have agreed that the commodity intermediary will apply any value distributed on account of the commodity contract a...

...xcept as otherwise provided in Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors. (B) A transaction, although subject to this chapter, is also subject to any applicable law that establishes a different rule for consumers and to Chapter...

...an after-acquired property clause to: (1) Consumer goods other than accessions when given as additional security unless the debtor acquires rights in them within ten days after the secured party gives value; or (2) A commercial tort claim. (C) A security agreement may provide that collateral secures, or that accounts, chattel paper, payment intangibles, or promissory notes are sold in connection with, future adv...

...nt against creditors solely because: (1) The debtor has the right or ability to: (a) Use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods; (b) Collect, compromise, enforce, or otherwise deal with collateral; (c) Accept the return of collateral or make repossessions; or (d) Use, commingle, or dispose of proceeds; or (2) The secured party fails to require the debt...

... authenticated demand by the debtor: (1) A secured party having control of a deposit account under division (A)(2) of section 1309.104 of the Revised Code shall send to the bank with which the deposit account is maintained an authenticated statement that releases the bank from any further obligation to comply with instructions originated by the secured party. (2) A secured party having control of a deposit ac...

...his section, this section applies if: (1) There is no outstanding secured obligation; and (2) The secured party is not committed to make advances, incur obligations, or otherwise give value. (B) Within ten days after receiving an authenticated demand by the debtor, a secured party shall send to an account debtor that has received notification of an assignment to the secured party as assignee under division (A) of ...

...cept as otherwise provided in sections 1309.303 to 1309.306 of the Revised Code, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral: (A) Except as otherwise provided in this section, while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfectio...

...ty interest in property subject to: (1) A statute, regulation, or treaty of the United States whose requirements for a security interest's obtaining priority over the rights of a lien creditor with respect to the property preempt division (A) of section 1309.310 of the Revised Code; (2) Chapters 1547., 1548., 4505., 4519., and 5309. of the Revised Code; (3) A statute of another jurisdiction that provides for...

...ontrol of the collateral under section 1307.106, 1309.104, 1309.105, 1309.106, or 1309.107 of the Revised Code. (B) A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under section 1307.106, 1309.104, 1309.105, or 1309.107 of the Revised Code when the secured party obtains control and remains perfected by control only whi...

...en is subordinate to the rights of: (1) A person entitled to priority under section 1309.322 of the Revised Code; and (2) Except as otherwise provided in division (E) of this section, a person who becomes a lien creditor before the earlier of the time: (a) The security interest or agricultural lien is perfected; or (b) One of the conditions specified in division (B)(3) of section 1309.203 of the Revised Co...

...even if perfected, if the buyer buys: (1) Without knowledge of the security interest; (2) For value; (3) Primarily for the buyer's personal, family, or household purposes; and (4) Before the filing of a financing statement covering the goods. (C) To the extent that it affects the priority of a security interest over a buyer of goods under division (B) of this section, the period of effectiveness of a filing made...

...ut for the application of division (I)(1) of section 1309.316 of the Revised Code or section 1309.508 of the Revised Code is subordinate to a security interest in the same collateral that is perfected other than by such a filed financing statement. (B) Sections 1309.301 to 1309.342 of the Revised Code determine the priority among conflicting security interests in the same collateral perfected by filed financi...

...ity interest or an agricultural lien: (1) That secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business; (2) That is created by statute or rule of law in favor of the person; and (3) Whose effectiveness depends on the person's possession of the goods. (B) A possessory lien on goods has priority over a secu...

...ction, the other provisions of sections 1309.301 to 1309.342 of the Revised Code determine the priority of a security interest that attaches to the product or mass under division (C) of this section. (F) If more than one security interest attaches to the product or mass under division (C) of this section, the following rules determine priority: (1) A security interest that is perfected under division (D) of this se...

...rights of an assignee are subject to: (1) All terms of the agreement between the account debtor and assignor and any defense or claim in recoupment arising from the transaction that gave rise to the contract; and (2) Any other defense or claim of the account debtor against the assignor that accrues before the account debtor receives a notification of the assignment authenticated by the assignor or the assignee. (B...

...s section applies to the extent that: (1) The right to payment or a part thereof under an assigned contract has not been fully earned by performance; or (2) The right to payment or a part thereof has been fully earned by performance, and the account debtor has not received notification of the assignment under division (A) of section 1309.406 of the Revised Code. (C) This section is subject to law other than this c...