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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1305.14 | Statute of limitations - UCC 5-115.

Ohio Revised Code
/
Title 13 Commercial Transactions
/
Chapter 1305 Letters Of Credit
 
Effective:
July 1, 1998
Latest Legislation:
House Bill 338 - 122nd General Assembly
PDF:
Download Authenticated PDF
 

An action to enforce a right or obligation arising under this chapter must be commenced within one year after the expiration date of the relevant letter of credit or one year after the cause of action accrues, whichever occurs later. A cause of action accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach.

Available Versions of this Section