Ohio Revised Code Search

...(A) Except as otherwise provided in this chapter and in division (B) of section 1302.44 of the Revised Code: (1) A security interest or agricultural lien continues in collateral notwithstanding sale, lease, license, exchange, or other disposition thereof unless the secured party authorized the disposition free of the security interest or agricultural lien; and (2) A security interest attaches to any identifiabl...

...ed by a certificate of title and as-extracted collateral consisting of goods, remains continuously perfected if: (1) The collateral is located in one jurisdiction and subject to a security interest perfected under the law of that jurisdiction; (2) Thereafter, the collateral is brought into another jurisdiction; and (3) Upon entry into the other jurisdiction, the security interest is perfected under the law of...

...(A) A security interest or agricultural lien 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)...

...(A) A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold. (B) For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper while the buyer's security interest is unperfected, the debtor is deemed to have ri...

...(A) Except as otherwise provided in division (B) of this section, for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee, while the goods are in the possession of the consignee, the consignee is deemed to have rights and title to the goods identical to those the consignor had or had power to transfer. (B) For purposes of determining the rights of a creditor of a c...

...t the wellhead or minehead or after extraction takes free of an interest arising out of an encumbrance. (E) Divisions (A) and (B) of this section do not affect a security interest in goods in the possession of the secured party under section 1309.313 of the Revised Code.

... comports with the usual or customary practices in the kind of business in which the licensor is engaged or with the licensor's own usual or customary practices. (B) A licensee in the ordinary course of business takes its rights under a nonexclusive license free of a security interest in the general intangible created by the licensor, even if the security interest is perfected and the licensee knows of its existence...

...(A) Except as otherwise provided in this section, priority between conflicting security interests and agricultural liens in the same collateral shall be determined according to the following rules: (1) Conflicting perfected security interests and agricultural liens rank according to priority in time of filing or perfection. Priority dates from the earlier of the time a filing covering the collateral is first made or...

...2) Forty-five days after the lease contract becomes enforceable. (G) Division (F) of this section does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the forty-five-day period.

...d identifiable products in their unmanufactured states also has priority, if: (1) The purchase money security interest is perfected when the debtor receives possession of the livestock; (2) The purchase money secured party sends an authenticated notification to the holder of the conflicting security interest; (3) The holder of the conflicting security interest receives the notification within six months before the...

...(A) Except as otherwise provided in division (B) of this section, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if: (1) The debtor acquired the collateral subject to the security interest created by the other person; (2) The security interest created by the other person was perfected when the debtor acquired the collateral; and (3) Th...

...(A) Subject to division (B) of this section, a security interest that is created by a new debtor in collateral in which the new debtor has or acquires rights and is perfected solely by a filed financing statement that would be ineffective to perfect the security interest but 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...

...The following rules govern priority among conflicting security interests in the same deposit account: (A) A security interest held by a secured party having control of the deposit account under section 1309.104 of the Revised Code has priority over a conflicting security interest held by a secured party that does not have control. (B) Except as otherwise provided in divisions (C) and (D) of this section, security i...

...) If the collateral is a commodity contract carried with a commodity intermediary, the satisfaction of the requirement for control specified in division (B)(2) of section 1309.106 of the Revised Code with respect to commodity contracts carried or to be carried with the commodity intermediary. (C) A security interest held by a securities intermediary in a security entitlement or a securities account maintained with t...

...The following govern priority among conflicting security interests in the same letter-of-credit right: (A) A security interest held by a secured party having control of the letter-of-credit right under section 1309.107 of the Revised Code has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control. (B) Security interests perfected by control unde...

...(A) A purchaser of chattel paper has priority over a security interest in the chattel paper that is claimed merely as proceeds of inventory subject to a security interest if: (1) In good faith and in the ordinary course of the purchaser's business, the purchaser gives new value and takes possession of the chattel paper or obtains control of the chattel paper under section 1309.105 of the Revised Code; and (2) The c...

...(A) This chapter does not limit the rights of a holder in due course of a negotiable instrument, as defined in section 1303.32 of the Revised Code, or a holder to whom a negotiable document of title has been duly negotiated under section 1307.501 of the Revised Code, or a protected purchaser of a security under section 1308.17 of the Revised Code. These holders or purchasers take priority over an earlier securi...

...security interest unless the transferee acts in collusion with the debtor in violating the rights of the secured party. (B) A transferee of funds from a deposit account takes the funds free of a security interest in the deposit account unless the transferee acts in collusion with the debtor in violating the rights of the secured party.

...(A) As used in this section, "possessory lien" means an interest, other than a security 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...

...e fixtures are readily removable: (a) Factory or office machines; (b) Equipment that is not primarily used or leased for use in the operation of the real property; or (c) Replacements of domestic appliances that are consumer goods; (3) The conflicting interest is a lien on the real property obtained by legal or equitable proceedings after the security interest was perfected by any method permitted by this chapt...

...(A) A security interest may be created in an accession and continues in collateral that becomes an accession. (B) If a security interest is perfected when the collateral becomes an accession, the security interest remains perfected in the collateral. (C) Except as otherwise provided in division (D) of this section, the other provisions of sections 1309.301 to 1309.342 of the Revised Code determine the priority of a...

...(A) As used in this section, "commingled goods" means goods that are physically united with other goods in such a manner that their identity is lost in a product or mass. (B) A security interest does not exist in commingled goods as such. However, a security interest may attach to a product or mass that results when goods become commingled goods. (C) If collateral becomes commingled goods, a security interest atta...

...If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title that does not show that the goods are subject to the security interest or contain a statement that they may be subject to security interests not shown on the certificate: (A) A buyer of the goods, other than a person in the business of selling goods of that kind, takes fre...

...If a security interest or agricultural lien is perfected by a filed financing statement providing information described in division (B)(5) of section 1309.516 of the Revised Code that is incorrect at the time the financing statement is filed: (A) The security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflic...

...Nothing in this chapter precludes subordination by agreement by any person entitled to priority.