Ohio Revised Code Chapter 1309 - Secured Transactions

• Section 1309.01 To 1309.50 - [Renumbered Or Repealed].
  Effective Date: 07-01-2001
• Section 1309.101 - Short Title - Section Numbering - Ucc 9-101.
  (A) This chapter may be cited as "Uniform Commercial Code, secured transactions." (B) This chapter uses the numbering system of the national conference of...
• Section 1309.102 - Definitions And Index Of Definitions - Ucc 9-102.
  (A) As used in this chapter, unless the context requires otherwise: (1) "Accession" means goods that are physically united with other goods in such...
• Section 1309.103 - Purchase-money Security Interest - Application Of Payments - Burden Of Establishing - Ucc 9-103.
  (A) As used in this section: (1) "Purchase-money collateral" means goods or software that secures a purchase-money obligation incurred with respect to that collateral;...
• Section 1309.104 - Control Of Deposit Account - Ucc 9-104.
  (A) A secured party has control of a deposit account if: (1) The secured party is the bank with which the deposit account is...
• Section 1309.105 - Control Of Electronic Chattel Paper - Ucc 9-105.
  (A) A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in the chattel paper...
• Section 1309.106 - Control Of Investment Property - Ucc 9-106.
  (A) A person has control of a certificated security, uncertificated security, or security entitlement as provided in section 1308.24 of the Revised Code. (B)...
• Section 1309.107 - Control Of Letter-of-credit Right - Ucc 9-107.
  A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any...
• Section 1309.108 - Sufficiency Of Description - Ucc 9-108.
  (A) Except as provided in divisions (C), (D), and (E) of this section, any description of personal or real property is sufficient whether or...
• Section 1309.109 - Scope Of Chapter - Ucc 9-109.
  (A) Except as otherwise provided in divisions (C) and (D) of this section, this chapter applies to the following: (1) A transaction, regardless of...
• Section 1309.110 - Security Interests Arising Under Article 2 Or 2a - Ucc 9-110.
  A security interest arising under sections 1302.42 and 1302.49, division (C) of section 1302.85, or division (E) of section 1310.54 of the Revised Code...
• Section 1309.201 - General Effectiveness Of Security Agreement - Ucc 9-201.
  (A) Except as otherwise provided in Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code, a security agreement...
• Section 1309.202 - Title To Collateral Immaterial - Ucc 9-202.
  Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes, the provisions of this chapter...
• Section 1309.203 - Attachment And Enforceability Of Security Interest - Proceeds - Supporting Obligation - Formal Requisites - Ucc 9-203.
  (A) A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones...
• Section 1309.204 - After-acquired Property - Future Advances - Ucc 9-204.
  (A) Except as provided in division (B) of this section, a security agreement may create or provide for a security interest in after-acquired collateral....
• Section 1309.205 - Use Or Disposition Of Collateral Permissible - Ucc 9-205.
  (A) A security interest is not invalid or fraudulent against creditors solely because: (1) The debtor has the right or ability to: (a) Use,...
• Section 1309.206 - Security Interest Arising In Purchase Or Delivery Of Financial Asset - Ucc 9-206.
  (A) A security interest in favor of a securities intermediary attaches to a person's security entitlement if: (1) The person buys a financial asset...
• Section 1309.207 - Rights And Duties Of Secured Party Having Possession Or Control Of Collateral - Ucc 9-207.
  (A) Except as otherwise provided in division (D) of this section, a secured party shall use reasonable care in the custody and preservation of...
• Section 1309.208 - Additional Duties Of Secured Party Having Control Of Collateral - Ucc 9-208.
  (A) This section applies to cases in which there is no outstanding secured obligation and the secured party is not committed to make advances,...
• Section 1309.209 - Duties Of Secured Party If Account Debtor Has Been Notified Of Assignment - Ucc 9-209.
  (A) Except as otherwise provided in division (C) of this section, this section applies if: (1) There is no outstanding secured obligation; and (2)...
• Section 1309.210 - Request For Accounting - Request Regarding List Of Collateral Or Statement Of Account - Ucc 9-210.
  (A) As used in this section: (1) "Request" means a record of a type described in division (A)(2), (3), or (4) of this section....
• Section 1309.301 - Law Governing Perfection And Priority Of Security Interests - Ucc 9-301.
  Except as otherwise provided in sections 1309.303 to 1309.306 of the Revised Code, the following rules determine the law governing perfection, the effect of...
• Section 1309.302 - Law Governing Perfection And Priority Of Agricultural Liens - Ucc 9-302.
  While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the...
• Section 1309.303 - Law Governing Perfection And Priority Of Security Interests In Goods Covered By A Certificate Of Title - Ucc 9-303.
  (A) This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose...
• Section 1309.304 - Law Governing Perfection And Priority Of Security Interests In Deposit Accounts - Ucc 9-304.
  (A) The local law of a bank's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in...
• Section 1309.305 - Law Governing Perfection And Priority Of Security Interests In Investment Property - Ucc 9-305.
  (A) Except as otherwise provided in division (C) of this section, the following rules apply: (1) While a security certificate is located in a...
• Section 1309.306 - Law Governing Perfection And Priority Of Security Interests In Letter-of-credit Rights - Ucc 9-306.
  (A) Subject to division (C) of this section, the local law of the issuer's jurisdiction or a nominated person's jurisdiction governs perfection, the effect...
• Section 1309.307 - Location Of Debtor - Ucc 9-307.
  (A) As used in this section, "place of business" means a place where a debtor conducts the debtor's affairs. (B) Except as otherwise provided...
• Section 1309.308 - When Security Interest Or Agricultural Lien Is Perfected - Continuity Of Perfection - Ucc 9-308.
  (A) Except as otherwise provided in this section and section 1309.309 of the Revised Code, a security interest is perfected if it has attached...
• Section 1309.309 - Security Interest Perfected Upon Attachment - Ucc 9-309.
  The following security interests are perfected when they attach: (A) A purchase money security interest in consumer goods, except as otherwise provided in division...
• Section 1309.310 - When Filing Required To Perfect Security Interest Or Agricultural Lien - Security Interests And Agricultural Liens To Which Filing Provisions Do Not Apply - Ucc 9-310.
  (A) Except as otherwise provided in division (B) of this section and division (B) of section 1309.312 of the Revised Code, a financing statement...
• Section 1309.311 - Perfection Of Security Interests In Property Subject To Certain Statutes, Regulations, And Treaties - Ucc 9-311.
  (A) Except as otherwise provided in division (D) of this section, the filing of a financing statement is not necessary or effective to perfect...
• Section 1309.312 - Perfection Of Security Interests - Ucc 9-312.
  (A) A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing. (B) Except as otherwise provided in...
• Section 1309.313 - When Possession By Or Delivery To Secured Party Perfects Security Interest Without Filing - Ucc 9-313.
  (A) Except as otherwise provided in division (B) of this section, a secured party may perfect a security interest in tangible negotiable documents, goods,...
• Section 1309.314 - Perfection By Control - Ucc 9-314.
  (A) A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be perfected by control of the...
• Section 1309.315 - Secured Party's Rights On Disposition Of Collateral And In Proceeds - Ucc 9-315.
  (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...
• Section 1309.316 - Continued Perfection Of Security Interest Following Change In Governing Law - Ucc 9-316.
  (A) A security interest perfected pursuant to the law of the jurisdiction designated in division (A) of section 1309.301 or division (C) of section...
• Section 1309.317 - Interests That Take Priority Over Or Take Free Of Unperfected Security Interest Or Agricultural Lien - Ucc 9-317.
  (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...
• Section 1309.318 - No Interest Retained In Right To Payment That Is Sold - Rights And Title Of Seller Of Account Or Chattel Paper With Respect To Creditors And Purchasers - Ucc 9-318.
  (A) A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in...
• Section 1309.319 - Rights And Title Of Consignee With Respect To Creditors And Purchasers - Ucc 9-319.
  (A) Except as otherwise provided in division (B) of this section, for purposes of determining the rights of creditors of, and purchasers for value...
• Section 1309.320 - Buyer Of Goods - Ucc 9-320.
  (A) Except as otherwise provided in division (E) of this section, a buyer in the ordinary course of business, other than a person buying...
• Section 1309.321 - Licensee Of General Intangible And Lessee Of Goods In Ordinary Course Of Business - Ucc 9-321.
  (A) As used in this section, "licensee in the ordinary course of business" means a person that becomes a licensee of a general intangible...
• Section 1309.322 - Priorities Among Conflicting Security Interests In And Agricultural Liens On Same Collateral - Ucc 9-322.
  (A) Except as otherwise provided in this section, priority between conflicting security interests and agricultural liens in the same collateral shall be determined according...
• Section 1309.323 - Future Advances - Ucc 9-323.
  (A) Except as otherwise provided in division (C) of this section, for purposes of determining the priority of a perfected security interest under division...
• Section 1309.324 - Priority Of Purchase-money Security Interests - Ucc 9-324.
  (A) Except as otherwise provided in division (G) of this section, a perfected purchase money security interest in goods other than inventory or livestock...
• Section 1309.325 - Priority Of Security Interests In Transferred Collateral - Ucc 9-325.
  (A) Except as otherwise provided in division (B) of this section, a security interest created by a debtor is subordinate to a security interest...
• Section 1309.326 - Priority Of Security Interests Created By New Debtor - Ucc 9-326.
  (A) Subject to division (B) of this section, a security interest that is created by a new debtor in collateral in which the new...
• Section 1309.327 - Priority Of Security Interests In Deposit Account - Ucc 9-327.
  The following rules govern priority among conflicting security interests in the same deposit account: (A) A security interest held by a secured party having...
• Section 1309.328 - Priority Of Security Interests In Investment Property - Ucc 9-328.
  The following rules govern priority among conflicting security interests in the same investment property: (A) A security interest held by a secured party having...
• Section 1309.329 - Priority Of Security Interests In Letter-of-credit Right - Ucc 9-329.
  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...
• Section 1309.330 - Priority Of Purchases Of Chattel Paper Or Instrument - Ucc 9-330.
  (A) A purchaser of chattel paper has priority over a security interest in the chattel paper that is claimed merely as proceeds of inventory...
• Section 1309.331 - Priority Of Rights Of Purchasers Of Instruments, Documents, And Securities Under Other Chapters - Priority Of Interests In Financial Assets And Security Entitlements Under Chapter 1308 - Ucc 9-331.
  (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...
• Section 1309.332 - Transfer Of Money - Transfer Of Funds From Deposit Account - Ucc 9-332.
  (A) A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating...
• Section 1309.333 - Priority Of Certain Liens Arising By Operation Of Law - Ucc 9-333.
  (A) As used in this section, "possessory lien" means an interest, other than a security interest or an agricultural lien: (1) That secures payment...
• Section 1309.334 - Priority Of Security Interests In Fixtures And Crops - Ucc 9-334.
  (A) A security interest under this chapter may be created in goods that are fixtures or may continue in goods that become fixtures. A...
• Section 1309.335 - Accessions - Ucc 9-335.
  (A) A security interest may be created in an accession and continues in collateral that becomes an accession. (B) If a security interest is...
• Section 1309.336 - Commingled Goods - Ucc 9-336.
  (A) As used in this section, "commingled goods" means goods that are physically united with other goods in such a manner that their identity...
• Section 1309.337 - Priority Of Security Interests In Goods Covered By Certificate Of Title - Ucc 9-337.
  If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of...
• Section 1309.338 - Priority Of Security Interest Or Agricultural Lien Perfected By Filed Financing Statement Providing Certain Incorrect Information - Ucc 9-338.
  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...
• Section 1309.339 - Priority Subject To Subordination - Ucc 9-339.
  Nothing in this chapter precludes subordination by agreement by any person entitled to priority. Effective Date: 07-01-2001
• Section 1309.340 - Effectiveness Of Right Of Recoupment Or Set-off Against Deposit Account - Ucc 9-340.
  (A) Except as otherwise provided in division (C) of this section, a bank with which a deposit account is maintained may exercise any right...
• Section 1309.341 - Bank's Rights And Duties With Respect To Deposit Account - Ucc 9-341.
  Except as otherwise provided in division (C) of section 1309.340 of the Revised Code, and unless the bank otherwise agrees in an authenticated record,...
• Section 1309.342 - Bank's Right To Refuse To Enter Into Or Disclose Existence Of Control Agreement - Ucc 9-342.
  This chapter does not require a bank to enter into an agreement of the kind described in division (A)(2) of section 1309.104 of the...
• Section 1309.401 - Alienability Of Debtor's Rights - Ucc 9-401.
  (A) Except as provided in division (B) of this section and sections 1309.406, 1309.407, 1309.408, and 1309.409 of the Revised Code, whether a debtor's...
• Section 1309.402 - Secured Party Not Obligated On Contract Of Debtor Or In Tort - Ucc 9-402.
  The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not...
• Section 1309.403 - Agreement Not To Assert Defenses Against Assignee - Ucc 9-403.
  (A) As used in this section, "value" has the same meaning as in division (A) of section 1303.33 of the Revised Code. (B) Except...
• Section 1309.404 - Rights Acquired By Assignee - Claims And Defenses Against Assignee - Ucc 9-404.
  (A) Unless an account debtor has made an enforceable agreement not to assert defenses or claims, and subject to divisions (B) to (E) of...
• Section 1309.405 - Modification Of Assigned Contract - Ucc 9-405.
  (A) A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding...
• Section 1309.406 - Discharge Of Account Debtor - Ucc 9-406.
  (A) Subject to divisions (B) to (I) of this section, an account debtor on an account, chattel paper, or payment intangible may discharge its...
• Section 1309.407 - Restriction On Creation Or Enforcement Of Security Interest In Leasehold Interest Or In Lessor's Residual Interest - Ucc 9-407.
  (A) Except as otherwise provided in division (B) of this section, a term in a lease agreement is not effective to the extent that...
• Section 1309.408 - Restrictions On Assignment Of Promissory Notes, Health-care-insurance Receivables, And Certain General Intangibles Ineffective - Ucc 9-408.
  (A) Except as otherwise provided in division (B) of this section, a term in a promissory note or in an agreement between an account...
• Section 1309.409 - Restrictions On Assignment Of Letter-of-credit Rights Ineffective - Ucc 9-409.
  (A) A term in a letter of credit or a rule of law, statute, regulation, custom, or practice applicable to the letter of credit...
• Section 1309.501 - Filing Office - Ucc 9-501.
  (A) Except as provided in division (B) of this section, if the local law of this state governs perfection of a security interest or...
• Section 1309.502 - Contents Of Financing Statement - Record Of Mortgage As Financing Statement - Time Of Filing Financing Statement - Ucc 9-502.
  (A) Subject to division (B) of this section, a financing statement is sufficient only if it: (1) Provides the name of the debtor; (2)...
• Section 1309.503 - Name Of Debtor And Secured Party - Ucc 9-503.
  (A) A financing statement sufficiently provides the name of the debtor: (1) Except as otherwise provided in division (A)(3) of this section, if the...
• Section 1309.504 - Indication Of Collateral - Ucc 9-504.
  A financing statement sufficiently indicates the collateral that it covers if the financing statement provides: (A) A description of the collateral pursuant to section...
• Section 1309.505 - Filing And Compliance With Other Statutes And Treaties For Consignments, Leases, Other Bailments, And Other Transactions - Ucc 9-505.
  (A) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a...
• Section 1309.506 - Effect Of Errors Or Omissions - Ucc 9-506.
  (A) A financing statement that substantially satisfies the requirements of sections 1309.501 to 1309.527 of the Revised Code is effective, even if it has...
• Section 1309.507 - Effect Of Certain Events On Effectiveness Of Financing Statement - Ucc 9-507.
  (A) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which...
• Section 1309.508 - Effectiveness Of Financing Statement If New Debtor Becomes Bound By Security Agreement - Ucc 9-508.
  (A) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in...
• Section 1309.509 - Persons Entitled To File A Record - Ucc 9-509.
  (A) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor...
• Section 1309.510 - Effectiveness Of Filed Record - Ucc 9-510.
  (A) A filed record is effective only to the extent that it was filed by a person who is permitted to file it under...
• Section 1309.511 - Secured Party Of Record - Ucc 9-511.
  (A) A secured party of record with respect to a financing statement is a person whose name is provided as the name of the...
• Section 1309.512 - Amendment Of Financing Statement - Ucc 9-512.
  (A) Subject to section 1309.509 of the Revised Code, a person may add or delete collateral covered by, continue or terminate the effectiveness of,...
• Section 1309.513 - Termination Statement - Ucc 9-513.
  (A) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement...
• Section 1309.514 - Assignment Of Powers Of Secured Party Of Record - Ucc 9-514.
  (A) Except as otherwise provided in division (C) of this section, an initial financing statement may reflect an assignment of all of the secured...
• Section 1309.515 - Duration And Effectiveness Of Financing Statement - Effect Of Lapsed Financing Statement - Ucc 9-515.
  (A) Except as otherwise provided in divisions (B), (E), (F), and (G) of this section, a filed financing statement is effective for a period...
• Section 1309.516 - What Constitutes Filing - Effectiveness Of Filing - Ucc 9-516.
  (A) Except as provided in division (B) of this section, communication of a record to a filing office and tender of the filing fee...
• Section 1309.517 - Effect Of Indexing Errors - Ucc 9-517.
  The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record. Effective Date: 07-01-2001
• Section 1309.518 - Claim Concerning Inaccurate Or Wrongfully Filed Record - Ucc 9-518.
  (A) A person may file in the filing office an information statement with respect to a record indexed there under the person's name if...
• Section 1309.519 - Numbering, Maintaining, And Indexing Records - Communicating Information Provided In Records - Ucc 9-519.
  (A) For each record filed in a filing office, the filing office shall: (1) Assign an unique number to the filed record; (2) Create...
• Section 1309.520 - Acceptance And Refusal To Accept Record - Ucc 9-520.
  (A) A filing office shall refuse to accept a record for filing for a reason specified in division (B) of section 1309.516 of the...
• Section 1309.521 - Uniform Form Of Written Financing Statement And Amendment - Ucc 9-521.
  (A) A filing office that accepts written records may not refuse to accept a written initial financing statement in the form and format set...
• Section 1309.522 - Maintenance And Destruction Of Records - Ucc 9-522.
  (A) The filing office shall maintain a record of the information provided in a filed financing statement for not less than one year after...
• Section 1309.523 - Information From Filing Office - Sale Or License Of Records - Ucc 9-523.
  (A) If a person who files a written record requests an acknowledgment of the filing, the filing office shall send to the person an...
• Section 1309.524 - Delay By Filing Office - Ucc 9-524.
  Delay by the filing office beyond a time limit prescribed by sections 1309.501 to 1309.527 of the Revised Code is excused if: (A) The...
• Section 1309.525 - Fees - Ucc 9-525.
  (A) Except as provided in division (C) of this section, the fee for filing and indexing a record under sections 1309.501 to 1309.527 of...
• Section 1309.526 - Filing-office Rules - Ucc 9-526.
  (A) The secretary of state shall adopt rules to implement this chapter. The filing-office rules shall be: (1) Consistent with this chapter; and (2)...
• Section 1309.527 - Duty To Report - Ucc 9-527.
  The secretary of state shall report by December 31 in each even-numbered year to the general assembly on the operation of the filing office....
• Section 1309.528 - Corporate And Uniform Commercial Code Filing Fund - Ucc 9-528.
  All fees collected by the secretary of state for filings under Title XIII or XVII of the Revised Code shall be deposited into the...
• Section 1309.529 - Distributions Of Fees To County Recorders - Ucc 9-529.
  (A) The secretary of state shall distribute to the county recorders of the counties of this state an amount equal to the fees collected...
• Section 1309.601 - Rights After Default - Judicial Enforcement - Consignor Or Buyer Of Accounts, Chattel Paper, Payment Intangibles, Or Promissory Notes - Ucc 9-601.
  (A) After default, a secured party has the rights provided in sections 1309.601 to 1309.628 of the Revised Code and, except as otherwise provided...
• Section 1309.602 - Waiver And Variance Of Rights And Duties - Ucc 9-602.
  Except as otherwise provided in section 1309.624 of the Revised Code, to the extent that they give rights to a debtor or obligor and...
• Section 1309.603 - Agreement On Standards Concerning Rights And Duties - Ucc 9-603.
  (A) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of...
• Section 1309.604 - Procedure If Security Agreement Covers Real Property Or Fixtures - Ucc 9-604.
  (A) If a security agreement covers both personal and real property, a secured party may proceed: (1) Under sections 1309.601 to 1309.628 of the...
• Section 1309.605 - Unknown Debtor Or Secondary Obligor - Ucc 9-605.
  A secured party does not owe a duty based on its status as secured party: (A) To a person who is a debtor or...
• Section 1309.606 - Time For Default For Agricultural Lien - Ucc 9-606.
  For purposes of sections 1309.601 to 1309.628 of the Revised Code, a default occurs in connection with an agricultural lien at the time the...
• Section 1309.607 - Collection And Enforcement By Secured Party - Ucc 9-607.
  (A) If so agreed, and in any event after default, a secured party: (1) May notify an account debtor or other person obligated on...
• Section 1309.608 - Application Of Proceeds Of Collection Or Enforcement - Liability For Deficiency And Right To Surplus - Ucc 9-608.
  (A) If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (1) A secured party shall...
• Section 1309.609 - Secured Party's Right To Take Possession After Default - Ucc 9-609.
  (A) After default, a secured party: (1) May take possession of the collateral; and (2) Without removal, may render equipment unusable and dispose of...
• Section 1309.610 - Disposition Of Collateral After Default - Ucc 9-610.
  (A) After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition...
• Section 1309.611 - Notification Before Disposition Of Collateral - Ucc 9-611.
  (A) As used in this section, "notification date" means the earlier of the date on which: (1) A secured party sends to the debtor...
• Section 1309.612 - Timeliness Of Notification Before Disposition Of Collateral - Ucc 9-612.
  (A) Except as otherwise provided in division (B) of this section, whether a notification is sent within a reasonable time is a question of...
• Section 1309.613 - Contents And Form Of Notification Before Disposition Of Collateral - General - Ucc 9-613.
  (A) Except in a consumer-goods transaction, all of the following rules apply to a notification of disposition of collateral and to a disposition of...
• Section 1309.614 - Contents And Form Of Notification Before Disposition Of Collateral - Consumer-goods Transaction - Ucc 9-614.
  (A) In a consumer-goods transaction, the following rules apply: (1) A notification of disposition must provide all of the following information: (a) The information...
• Section 1309.615 - Application Of Proceeds Of Disposition - Liability For Deficiency And Right To Surplus - Ucc 9-615.
  (A) A secured party shall apply or pay over for application the cash proceeds of disposition under section 1309.610 of the Revised Code in...
• Section 1309.616 - Explanation Of Calculation Of Surplus Or Deficiency - Ucc 9-616.
  (A) As used in this section: (1) "Explanation" means a writing that: (a) States the amount of the surplus or deficiency; (b) Provides an...
• Section 1309.617 - Rights Of Transferee Of Collateral - Ucc 9-617.
  (A) A secured party's disposition of collateral after default: (1) Transfers to a transferee for value all of the debtor's rights in the collateral;...
• Section 1309.618 - Rights And Duties Of Certain Secondary Obligors - Ucc 9-618.
  (A) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (1) Receives...
• Section 1309.619 - Transfer Of Record Or Legal Title - Ucc 9-619.
  (A) As used in this section, "transfer statement" means a record authenticated by a secured party that states: (1) The debtor has defaulted in...
• Section 1309.620 - Acceptance Of Collateral In Full Or Partial Satisfaction Of Obligation - Compulsory Disposition Of Collateral - Ucc 9-620.
  (A) Except as otherwise provided in division (G) of this section, a secured party may accept collateral in full or partial satisfaction of the...
• Section 1309.621 - Notification Of Proposal To Accept Collateral - Ucc 9-621.
  (A) A secured party who desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to:...
• Section 1309.622 - Effect Of Acceptance Of Collateral - Ucc 9-622.
  (A) A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures: (1) Discharges the obligation to the extent...
• Section 1309.623 - Right To Redeem Collateral - Ucc 9-623.
  (A) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral. (B) To redeem collateral, a person shall tender:...
• Section 1309.624 - Waiver - Ucc 9-624.
  (A) A debtor or secondary obligor may waive the right to notification of disposition of collateral under section 1309.611 of the Revised Code only...
• Section 1309.625 - Remedies For Secured Party's Failure To Comply With Chapter - Ucc 9-625.
  (A) If it is established that a secured party is not proceeding in accordance with this chapter, a court may order or restrain collection,...
• Section 1309.626 - Action In Which Deficiency Or Surplus Is In Issue - Ucc 9-626.
  In an action arising from a transaction in which the amount of a deficiency or surplus is in issue, the following rules apply: (A)...
• Section 1309.627 - Determination Of Whether Conduct Was Commercially Reasonable - Ucc 9-627.
  (A) The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in...
• Section 1309.628 - Nonliability And Limitation On Liability Of Secured Party - Liability Of Secondary Obligor - Ucc 9-628.
  (A) Unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to...
• Section 1309.702 - Savings Clause - Ucc 9-702.
  (A) Except as otherwise provided in this chapter, this chapter applies to a transaction or lien within the scope of this chapter even if...
• Section 1309.703 - Security Interest Perfected Before Effective Date - Ucc 9-703.
  (A) A security interest that is enforceable immediately before July 1, 2001, and that would have priority over the rights of a person who...
• Section 1309.704 - Security Interest Unperfected Before Effective Date - Ucc 9-704.
  A security interest that is enforceable immediately before July 1, 2001, but that would be subordinate to the rights of a person that becomes...
• Section 1309.705 - Effectiveness Of Action Taken Before Effective Date - Ucc 9-705.
  (A) If action, other than the filing of a financing statement, is taken before July 1, 2001, and if the action would have resulted...
• Section 1309.706 - When Initial Financing Statement Suffices To Continue Effectiveness Of Financing Statement - Ucc 9-706.
  (A) The filing of an initial financing statement in the office specified in section 1309.501 of the Revised Code continues the effectiveness of a...
• Section 1309.707 - Pre-effective-date Financing Statement - Ucc 9-707.
  (A) As used in this section, "pre-effective-date financing statement" means a financing statement filed before July 1, 2001. (B) On or after July 1,...
• Section 1309.708 - Persons Entitled To File Initial Financing Statement Or Continuation Statement - Ucc 9-708.
  A person may file an initial financing statement or a continuation statement under this section if: (A) The secured party of record authorizes the...
• Section 1309.709 - Priority - Ucc 9-709.
  (A) This chapter determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before July 1,...

Last modified: October 10, 2016