Ohio Revised Code Search

...: (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 identifiable proceeds of collateral. (B) Proceeds that are commingled with other property are identifiable proceeds: ...

...of one year after a transfer of collateral to a person that thereby becomes a debtor and is located in another jurisdiction. (B) If a security interest described in division (A) of this section becomes perfected under the law of the other jurisdiction before the earliest time or event described in that division, it remains perfected thereafter. If the security interest does not become perfected under the law o...

...(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)...

...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 rights and title to the account or chattel paper identical to those the debt...

...ts 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 consignee, law other than this chapter determines the rights and title of a consignee while goods are i...

...t the goods for use primarily for personal, family, or household purposes takes free of a security interest, 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 in...

...erson that becomes a licensee of a general intangible in good faith, without knowledge that the license violates the rights of another person in the general intangible, and in the ordinary course of business from a person in the business of licensing general intangibles of that kind. A person becomes a licensee in the ordinary course of business if the license to the person comports with the usual or customary practi...

...icting 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 the security interest or agricultural lien is first perfected, if there...

...(A) Except as otherwise provided in division (C) of this section, for purposes of determining the priority of a perfected security interest under division (A)(1) of section 1309.322 of the Revised Code, perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that: (1) Is made while the security interest is perfected only: (a) Under secti...

...y interest in its identifiable proceeds also has priority, if the purchase money security interest is perfected when the debtor receives possession of the collateral or within twenty days thereafter. (B) Subject to division (C) of this section and except as otherwise provided in division (G) of this section, a perfected purchase money security interest in inventory has priority over a conflicting security interest i...

...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) There is no period thereafter when the security interest is unperfected. (B) Division (A) of this section subordinates a secu...

...t 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 security interest in the same collateral that is perfected other th...

...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...

...riority in time of: (1) If the collateral is a security, obtaining control; (2) If the collateral is a security entitlement carried in a securities account and: (a) If the secured party obtained control under division (D)(1) of section 1308.24 of the Revised Code, the secured party's becoming the person for which the securities account is maintained; (b) If the secured party obtained control under division (D)(2)...

...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...

...er'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 chattel paper does not indicate that it has been assigned to an identified assignee other than the purchaser. (B) A purchaser of chattel paper has priority over a security interest in the chattel paper that is claimed other than merely...

...(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...

...(A) A transferee of money takes the money free of a 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.

...han 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's possession of the goods. (B) A possessory lien on goods has priority ...

...this chapter in ordinary building materials incorporated into an improvement on land. (B) This chapter does not prevent creation of an encumbrance upon fixtures pursuant to real property law. (C) In cases not governed by divisions (D) to (H) of this section, a security interest in fixtures is subordinate to a conflicting interest of an encumbrancer or owner of the related real property other than the debtor. (D) ...

...n 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 security interest in an accession. (D)...

...ngled 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 attaches to the product or mass. (D) I...

...e security interest if the buyer gives value and receives delivery of the goods after issuance of the certificate and without knowledge of the security interest; and (B) The security interest is subordinate to a conflicting security interest in the goods that attaches, and is perfected under division (B) of section 1309.311 of the Revised Code, after issuance of the certificate and without the conflicting secured pa...

...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.