Ohio Revised Code Chapter 1308 - Investment Securities

• Section 1308.01 - Definitions - Ucc 8-102.
  (A) In this chapter: (1) "Adverse claim" means a claim that a claimant has a property interest in a financial asset and that it...
• Section 1308.02 - Rules For Determining Whether Certain Obligations And Interests Are Securities Or Financial Assets - Ucc 8-103.
  (A) A share or similar equity interest issued by a corporation, business trust, joint stock company, or similar entity is a security. (B) An...
• Section 1308.03 - Overissue Defined - Effect - Ucc 8-210.
  (A) Except as otherwise provided in divisions (A)(1) and (2) of this section, the provisions of this chapter which validate a security or compel...
• Section 1308.04 - Evidentiary Rules Concerning Certificate Securities - Ucc 8-114.
  The following rules apply in an action on a certificated security against the issuer: (A) Unless specifically denied in the pleadings, each signature on...
• Section 1308.05 - Applicability - Choice Of Law - Ucc 8-110.
  (A) The local law of the issuer's jurisdiction, as specified in division (D) of this section, governs: (1) The validity of a security; (2)...
• Section 1308.06 - Clearing Corporation Rules - Ucc 8-111.
  A rule adopted by a clearing corporation governing rights and obligations among the clearing corporation and its participants in the clearing corporation is effective...
• Section 1308.07 - Statute Of Frauds Inapplicable - Ucc 8-113.
  A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing...
• Section 1308.08 - Issuer - Ucc 8-201.
  (A) With respect to obligations on or defenses to a security, "issuer" includes a person who: (1) Places or authorizes the placing of its...
• Section 1308.09 - Issuer's Responsibility And Defenses - Notice Of Defect Or Defense - Ucc 8-202.
  (A) Even against a purchaser for value and without notice, the terms of a certificated security include terms stated on the certificate and terms...
• Section 1308.10 - Staleness As Notice Of Defect Or Defense - Ucc 8-203.
  After an act or event, other than a call that has been revoked, creating a right to immediate performance of the principal obligation represented...
• Section 1308.11 - Effect Of Issuer's Restriction On Transfer - Ucc 8-204 - Issuer's Lien - Ucc 8-209.
  (A) A restriction on transfer of a security imposed by the issuer, even if otherwise lawful, is ineffective against a person without actual knowledge...
• Section 1308.12 - Effect Of Unauthorized Signature On Security Certificate - Ucc 8-205.
  An unauthorized signature placed on a security certificate before or in the course of issue is ineffective, but the signature is effective in favor...
• Section 1308.13 - Completion Or Alteration Of Security Certificate - Ucc 8-206.
  (A) If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect: (1) Any person...
• Section 1308.14 - Rights And Duties Of Issuer With Respect To Registered Owners - Ucc 8-207.
  (A) Before due presentment for registration of transfer of a certificated security in registered form or of an instruction requesting registration of transfer of...
• Section 1308.15 - Effect Of Signature Of Authenticating Trustee, Registrar, Or Transfer Agent - Ucc 8-208.
  (A) A person signing a security certificate as authenticating trustee, registrar, transfer agent, or the like, warrants to a purchaser for value of the...
• Section 1308.16 - Rights Of Purchaser - Ucc 8-302.
  (A) Except as otherwise provided in divisions (B) and (C) of this section, a purchaser of a certificated or uncertificated security acquires all rights...
• Section 1308.17 - Protected Purchaser - Ucc 8-303.
  (A) A "protected purchaser" means a purchaser of a certificated or uncertificated security, or of an interest therein, who: (1) Gives value; (2) Does...
• Section 1308.18 - Acquisition Of Security Or Financial Asset Or Interest Therein - Ucc 8-104.
  (A) A person acquires a security or an interest therein, under this chapter, if: (1) The person is a purchaser to whom a security...
• Section 1308.19 - Notice Of Adverse Claim - Ucc 8-105.
  (A) A person has notice of an adverse claim if: (1) The person knows of the adverse claim; (2) The person is aware of...
• Section 1308.20 - Warranties In Direct Holding - Ucc 8-108.
  (A) A person who transfers a certificated security to a purchaser for value warrants to the purchaser, and an indorser, if the transfer is...
• Section 1308.21 - Warranties In Indirect Holding - Ucc 8-109.
  (A) A person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that: (1) The entitlement order is made...
• Section 1308.22 - Indorsement - Ucc 8-304.
  (A) An indorsement may be in blank or special. An indorsement in blank includes an indorsement to bearer. A special indorsement specifies to whom...
• Section 1308.23 - Whether Indorsement, Instruction, Or Entitlement Order Is Effective - Ucc 8-107.
  (A) "Appropriate person" means: (1) With respect to an indorsement, the person specified by a security certificate or by an effective special indorsement to...
• Section 1308.24 - Control - Ucc 8-106.
  (A) A purchaser has "control" of a certificated security in bearer form if the certificated security is delivered to the purchaser. (B) A purchaser...
• Section 1308.25 - Instruction - Ucc 8-305.
  (A) If an instruction has been originated by an appropriate person but is incomplete in any other respect, any person may complete it as...
• Section 1308.26 - Effect Of Guaranteeing Signature, Indorsement, Or Instruction - Ucc 8-306.
  (A) A person who guarantees a signature of an indorser of a security certificate warrants that at the time of signing: (1) The signature...
• Section 1308.27 - Delivery - Ucc 8-301.
  (A) Delivery of a certificated security to a purchaser occurs when: (1) The purchaser acquires possession of the security certificate; (2) Another person, other...
• Section 1308.28 - [Repealed].
  Effective Date: 01-01-1998
• Section 1308.29 - Fulfilling Duty To Transfer.
  (A) Unless otherwise agreed, if a sale of a security is made on an exchange or otherwise through brokers: (1) The selling customer fulfills...
• Section 1308.30 - Wrongful Transfer Of Security.
  (A) Any person against whom the transfer of a security is wrongful for any reason, including his incapacity, as against anyone except a bona...
• Section 1308.31 - Purchaser's Right To Requisites For Registration Of Transfer - Ucc 8-307.
  Unless otherwise agreed, the transferor of a security on due demand shall supply the purchaser with proof of authority to transfer or with any...
• Section 1308.32 - Creditor's Legal Process - Ucc 8-112.
  (A) The interest of a debtor in a certificated security may be reached by a creditor only by actual seizure of the security certificate...
• Section 1308.33 - Securities Intermediary And Others Not Liable To Adverse Claimant - Ucc 8-115 - Securities Intermediary As Purchaser For Value - Ucc 8-116.
  (A) A securities intermediary that has transferred a financial asset pursuant to an effective entitlement order, or a broker or other agent or bailee...
• Section 1308.34 To 1308.36 - [Repealed].
  Effective Date: 01-01-1998
• Section 1308.37 - Duty Of Issuer To Register Transfer - Ucc 8-401.
  (A) If a certificated security in registered form is presented to the issuer with a request to register transfer or an instruction is presented...
• Section 1308.38 - Assurance That Indorsement Or Instruction Is Effective - Ucc 8-402.
  (A) An issuer may require the following assurance that each necessary indorsement or each instruction is genuine and authorized: (1) In all cases, a...
• Section 1308.39 - Demand That Issuer Not Register Transfer - Ucc 8-403.
  (A) A person who is an appropriate person to make an indorsement or originate an instruction may demand that the issuer not register transfer...
• Section 1308.40 - Wrongful Registration - Ucc 8-404.
  (A) Except as otherwise provided in section 1308.41 of the Revised Code, an issuer is liable for wrongful registration of transfer if the issuer...
• Section 1308.41 - Obligation To Notify Issuer Of Lost, Destroyed Or Wrongfully Taken Security Certificate - Ucc 8-406 - Replacement Of Lost, Destroyed, Or Wrongfully Taken Security Certificate - Ucc 8-405.
  (A) If a security certificate has been lost, apparently destroyed, or wrongfully taken and the owner fails to notify the issuer of that fact...
• Section 1308.42 - Authenticating Trustee, Transfer Agent, And Registrar - Ucc 8-407.
  A person acting as authenticating trustee, transfer agent, registrar, or other agent for an issuer in the registration of a transfer of its securities,...
• Section 1308.43, 1308.44 - [Repealed].
  Effective Date: 01-01-1998
• Section 1308.51 - Securities Account - Acquisition Of Security Entitlement From Securities Intermediary - Ucc 8-501.
  (A) "Securities account" means an account to which a financial asset is or may be credited in accordance with an agreement under which the...
• Section 1308.52 - Assertion Of Adverse Claim Against Entitlement Holder - Ucc 8-502.
  An action based on an adverse claim to a financial asset, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may...
• Section 1308.53 - Property Interest Of Entitlement Holder In Financial Asset Held By Securities Intermediary - Ucc 8-503.
  (A) To the extent necessary for a securities intermediary to satisfy all security entitlements with respect to a particular financial asset, all interests in...
• Section 1308.54 - Duty Of Securities Intermediary To Maintain Financial Asset - Ucc 8-504.
  (A) A securities intermediary shall promptly obtain and thereafter maintain a financial asset in a quantity corresponding to the aggregate of all security entitlements...
• Section 1308.55 - Duty Of Securities Intermediary With Respect To Payments And Distributions - Ucc 8-505.
  (A) A securities intermediary shall take action to obtain a payment or distribution made by the issuer of a financial asset. A securities intermediary...
• Section 1308.56 - Duty Of Securities Intermediary To Exercise Rights As Directed By Entitlement Holder - Ucc 8-506.
  A securities intermediary shall exercise rights with respect to a financial asset if directed to do so by an entitlement holder. A securities intermediary...
• Section 1308.57 - Duty Of Securities Intermediary To Comply With Entitlement Holder - Ucc 8-507.
  (A) A securities intermediary shall comply with an entitlement order if the entitlement order is originated by the appropriate person, the securities intermediary has...
• Section 1308.58 - Duty Of Securities Intermediary To Change Entitlement Holder's Position To Other Form Of Security Holding - Ucc 8-508.
  A securities intermediary shall act at the direction of an entitlement holder to change a security entitlement into another available form of holding for...
• Section 1308.59 - Specification Of Duties Of Securities Intermediary By Other Statute Or Regulation Manner Of Performance Of Duties Of Securities Intermediary And Exercise Of Rights Of Entitlement Holder - Ucc 8-509.
  (A) If the substance of a duty imposed upon a securities intermediary by sections 1308.54 to 1308.58 of the Revised Code is the subject...
• Section 1308.60 - Rights Of Purchaser Of Security Entitlement From Entitlement Holder - Ucc 8-510.
  (A) In a case not covered by the priority rules in Chapter 1309. of the Revised Code or the rules stated in division (C)...
• Section 1308.61 - Priority Among Security Interests And Entitlement Holders - Ucc 8-511.
  (A) Except as otherwise provided in divisions (B) and (C) of this section, if a securities intermediary does not have sufficient interests in a...

Last modified: October 10, 2016