(A) A security interest is not invalid or fraudulent against creditors solely because:
(1) The debtor 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) This section does not relax the requirements of possession if attachment, perfection, or enforcement of a security interest depends upon possession of the collateral by the secured party.
Effective Date: 07-01-2001
Section: Previous 1309.108 1309.109 1309.110 1309.201 1309.202 1309.203 1309.204 1309.205 1309.206 1309.207 1309.208 1309.209 1309.210 1309.301 1309.302 NextLast modified: October 10, 2016