Ohio Revised Code Search

... (1) If the document's original terms run to the order of a named person, the document is negotiated by the named person's indorsement and delivery. After the named person's indorsement in blank or to bearer, any person may negotiate the document by delivery alone. (2) If the document's original terms run to bearer, it is negotiated by delivery alone. (3) If the document's original terms run to the order of a...

... to the goods; (3) all rights accruing under the law of agency or estoppel, including rights to goods delivered to the bailee after the document was issued; and (4) the direct obligation of the issuer to hold or deliver the goods according to the terms of the document free of any defense or claim by the issuer except those arising under the terms of the document or under sections 1307.101 to 1307.603 of the R...

... 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 Revised Code, or other statute or rule of law; or (2) Acquiesce in the procurement by the bailor or its nominee of any document. (B) Title to goods based upon an unaccepted delivery order is subject to th...

...ansferee 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 bailee has de...

...CC 7-505] The indorsement of a tangible document of title issued by a bailee does not make the indorser liable for any default by the bailee or previous indorsers.

...CC 7-506] The transferee of a negotiable tangible document of title has a specifically enforceable right to have its transferor supply any necessary indorsement, but the transfer becomes a negotiation only as of the time the indorsement is supplied.

..., otherwise than as a mere intermediary under section 1307.508 of the Revised Code, unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its immediate purchaser only that: (A) The document is genuine; (B) The transferor does not have knowledge of any fact that would impair the document's validity or worth; and (C) The negotiation or delivery is ...

...arranties of collecting bank as to documents of title [UCC 7-508] A collecting bank or other intermediary known to be entrusted with documents of title on behalf of another or with collection of a draft or other claim against delivery of documents warrants by the delivery of the documents only its own good faith and authority even if the collecting bank or other intermediary has purchased or made advances aga...

...ease, or the conditions of a letter of credit is determined by sections 1302.01 to 1302.98, 1305.01 to 1305.16, and 1310.01 to 1310.78 of the Revised Code.

...without the claimant's posting security unless it finds that any person that may suffer loss as a result of nonsurrender of possession or control of the document is adequately protected against the loss. If the document was nonnegotiable, the court may require security. The court may also order payment of the bailee's reasonable costs and attorney's fees in any action under this division. (B) A bailee that, wi...

...otiable document of title [UCC 7-602] Unless a document of title was originally issued upon delivery of the goods by a person that did not have power to dispose of them, a lien does not attach by virtue of any judicial process to goods in the possession of a bailee for which a negotiable document of title is outstanding unless possession or control of the document is first surrendered to the bailee or the doc...

...lidity of the adverse claims or to commence an action for interpleader. The bailee may assert an interpleader either in defending an action for nondelivery of the goods or by original action.

...Revised Code apply to a document of title that is issued or a bailment that arises on or after the effective date of this section. Sections 1307.101 to 1307.603 of the Revised Code do not apply to a document of title that is issued or a bailment that arises before the effective date of this section even if the document of title or bailment would be subject to those sections if the document of title had been is...

...ed, completed, consummated, or enforced under that statute or other rule.

...a person defined as a broker or dealer under the federal securities laws, but without excluding a bank acting in that capacity. (4) "Certificated security" means a security that is represented by a certificate. (5) "Clearing corporation" means: (a) A person that is registered as a "clearing agency" under the federal securities laws; (b) A federal reserve bank; or (c) Any other person that provides clearance ...

... liability company is not a security unless it is dealt in or traded on securities exchanges or in securities markets, its terms expressly provide that it is a security governed by this chapter, or it is an investment company security. However, an interest in a partnership or limited liability company is a financial asset if it is held in a securities account. (D) A writing that is a security certificate is go...

...ertificated or register its transfer if uncertificated, against surrender of any security certificate the person holds. (2) If a security is not so available for purchase, a person entitled to issue or validation may recover from the issuer the price the person or the last purchaser for value paid for it with interest from the date of the person's demand. (B) "Overissue" means the issue of securities in excess of t...

...t the issuer: (A) Unless specifically denied in the pleadings, each signature on a security certificate or in a necessary indorsement is admitted; (B) If the effectiveness of a signature is put in issue, the burden of establishing effectiveness is on the party claiming under the signature, but the signature is presumed to be genuine or authorized; (C) If signatures on a security certificate are admitted or establi...

...ns: (1) Acquisition of a security entitlement from the securities intermediary; (2) The rights and duties of the securities intermediary and entitlement holder arising out of a security entitlement; (3) Whether the securities intermediary owes any duties to an adverse claimant to a security entitlement; and (4) Whether an adverse claim can be asserted against a person who acquires a security entitlement from the ...

...the clearing corporation is effective even if the rule conflicts with this chapter and affects another party who does not consent to the rule.

...r the sale or purchase of a security is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the contract or modification is not capable of performance within one year of its making.

... certificates; or (4) Becomes responsible for, or in place of, any other person described as an issuer in this section. (B) With respect to obligations on or defenses to a security, a guarantor is an issuer to the extent of its guaranty, whether or not its obligation is noted on a security certificate. (C) With respect to registration of transfer, "issuer" means a person on whose behalf transfer books are maintain...

... stated on the certificate. A reference under division (A) of this section does not of itself charge a purchaser for value with notice of a defect going to the validity of the security, even if the certificate expressly states that a person accepting it admits notice. The terms of an uncertificated security include those stated in any instrument, indenture, or document, or in a constitution, statute, ordinance, rule...

...ficate, the money or security is available on the date set for payment or exchange, and the purchaser takes the security more than one year after that date; or (B) Is not covered by division (A) of this section and the purchaser takes the security more than two years after the date set for surrender or presentation or the date on which performance became due.

...a person without 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 th...