Ohio Revised Code Search

...due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.

...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 or by agreement between the securities intermediary and entitlement holder, the securities intermediary shall perform its duties and the entitlement holder shall exercise its rig...

... control rank according to priority in time of: (1) The purchaser's becoming the person for whom the securities account, in which the security entitlement is carried, is maintained, if the purchaser obtained control under division (D)(1) of section 1308.24 of the Revised Code; (2) The securities intermediary's agreement to comply with the purchaser's entitlement orders with respect to security entitlements carried...

...ities intermediary does not have sufficient interests in a particular financial asset to satisfy both its obligations to entitlement holders who have security entitlements to that financial asset and its obligation to a creditor of the securities intermediary who has a security interest in that financial asset, the claims of entitlement holders, other than the creditor, have priority over the claim of the creditor. ...

... numbering system of the national conference of commissioners on uniform state laws. The digits to the right of the decimal point are sequential and not supplemental to any preceding Revised Code section.

... is one thousand dollars or more at the time of delivery. (c) The goods are not consumer goods immediately before delivery; and (d) The transaction does not create a security interest that secures an obligation. (21) "Consignor" means a person that delivers goods to a consignee in a consignment. (22) "Consumer debtor" means a debtor in a consumer transaction. (23) "Consumer goods" means goods that are used o...

...nsactions. The court shall not infer from that limitation the nature of the proper rule in consumer-goods transactions and may continue to apply established approaches.

...uthenticated 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 customer with respect to the deposit account. (B) A secured party that has satisfied division (A) of this section has control of a deposit account, even if the debtor retains the ri...

...this section if the record or records comprising the chattel paper are created, stored, 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...

...(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 as directed by the secured party without further consent by the commodi...

...nt or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under division (C) of section 1305.13 of the Revised Code or otherwise applicable law or practice.

... the Revised Code; (4) Quantity; (5) Computational or allocational formula or procedure; or (6) Except as otherwise provided in division (C) of this section, any other method, if the identity of the collateral is objectively determinable. (C) A description of collateral as "all the debtor's assets" or "all the debtor's personal property" or using words of similar import does not reasonably identify the collateral...

...hattel paper, payment intangibles, or promissory notes; (4) A consignment; (5) A security interest arising under section 1302.42 or 1302.49, division (C) of section 1302.85, or division (E) of section 1310.54 of the Revised Code, as provided in section 1309.110 of the Revised Code; and (6) A security interest arising under section 1304.20 or 1305.18 of the Revised Code. (B) The application of this chapter to a se...

...e goods: (A) The security interest is enforceable even if division (B)(3) of section 1309.203 of the Revised Code has not been satisfied; (B) Filing is not required to perfect the security interest; (C) The rights of the secured party after default by the debtor are governed by Chapter 1302. or 1310. of the Revised Code; and (D) The security interest has priority over a conflicting security interest created b...

...Revised Code shall prevail. Failure to comply with those provisions has only the effect provided in those provisions. (D) This article does not: (1) Validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in division (B) of this section; or (2) Extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.

...hattel paper, payment intangibles, or promissory notes, the provisions of this chapter with regard to rights and obligations apply whether title to collateral is in the secured party or in the debtor.

...s an agreement expressly postpones the time of attachment. (B) Except as otherwise provided in divisions (C) to (I) of this section, a security interest is enforceable against the debtor and third parties with respect to the collateral only if: (1) Value has been given; (2) The debtor has rights in the collateral or the power to transfer rights in the collateral to a secured party; and (3) One of the followi...

...e 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 advances or other value, whether or not the advances or value are given pursuant to commitment.

...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 debtor to account for proceeds or replace collateral. (B)...

...e to the securities intermediary at the time of the purchase; and (2) The securities intermediary credits the financial asset to the buyer's securities account before the buyer pays the securities intermediary. (B) The security interest described in division (A) of this section secures the person's obligation to pay for the financial asset. (C) A security interest in favor of a person that delivers a certificated ...

...fiable but fungible collateral may be commingled; and (4) The secured party may use or operate the collateral: (a) For the purpose of preserving the collateral or its value; (b) As permitted by an order of a court having competent jurisdiction; or (c) Except in the case of consumer goods, in the manner and to the extent agreed by the debtor. (C) Except as otherwise provided in division (D) of this section, ...

...or otherwise give value. (B) Within ten days after receiving an 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 s...

..., 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 section 1309.406 of the Revised Code an authenticated record that releases the account debtor from any further obligation to the secured party. (C) This section does...

...nterest in the collateral at an earlier time shall comply with the request within fourteen days after receipt by sending to the debtor an authenticated record: (1) Disclaiming any interest in the collateral; and (2) If known to the recipient, providing the name and mailing address of any assignee of or successor to the recipient's interest in the collateral. (E) A person that receives a request for an accounting o...

...section, while tangible negotiable documents, goods, instruments, money, or tangible chattel paper is located in a jurisdiction, the local law of that jurisdiction governs: (1) Perfection of a security interest in the goods by filing a fixture filing; (2) Perfection of a security interest in timber to be cut; and (3) The effect of perfection or nonperfection and the priority of a nonpossessory security intere...