reglab/statecodes huggingface dataset:
2023 Ohio Revised Code › Title 11 | Banks-Savings and Loan Associations › Chapter 1181 | Division of Financial Institutions › Section 1181.02 | Employees.

Effective:
January 1, 2018
Latest Legislation:
House Bill 49 - 132nd General Assembly
The superintendent of financial institutions may appoint and employ such assistants, clerks, examiners, and other employees, and such professionals and agents, as the prompt execution of the duties of the superintendent's office requires, and may employ attorney examiners if the superintendent considers such assistants necessary.
2023 Ohio Revised Code › Title 11 | Banks-Savings and Loan Associations › Chapter 1181 | Division of Financial Institutions › Section 1181.03 | Fidelity Bonds.

Effective:
January 1, 2018
Latest Legislation:
House Bill 49 - 132nd General Assembly
(A) Before entering upon the discharge of the duties of the office of the superintendent of financial institutions, the superintendent shall give bond to the state in the sum of one million dollars with sureties approved by the governor and conditioned on the faithful discharge of the official duties of the office. The bond, with the approval of the governor and with the superintendent's oath of office endorsed on it, shall be filed with the office of the secretary of state.
(B) Before entering upon the discharge of the duties of their respective offices, the deputy superintendent for banks, the deputy superintendent for credit unions, and the deputy superintendent for consumer finance shall each give bond to the state in the sum of five hundred thousand dollars with sureties approved by the superintendent and conditioned on the faithful performance of their respective duties. The bonds shall be filed with the office of the secretary of state.
(C) The superintendent shall require of each other employee and each agent of the division of financial institutions a bond, conditioned on the faithful performance of each employee's and agent's respective duties, in an amount not less than five thousand dollars that the superintendent determines to be acceptable. The bonds may, in the discretion of the superintendent, be individual, schedule, or blanket bonds. The bonds shall be filed with the office of the secretary of state.
(D) The division shall pay the cost or premium of the bonds required by this section from funds appropriated to the division for that purpose.
2023 Ohio Revised Code › Title 11 | Banks-Savings and Loan Associations › Chapter 1181 | Division of Financial Institutions › Section 1181.04 | Immunity.

Effective:
January 1, 2018
Latest Legislation:
House Bill 49 - 132nd General Assembly
Neither the superintendent of financial institutions nor any employee, agent, or contractor of the division of financial institutions shall be liable in any civil, criminal, or administrative proceeding for any mistake of judgment or discretion in any action taken, or any omission made by the superintendent, employee, agent, or contractor if done in good faith within the scope of the person's official capacity as assigned by the superintendent.
2023 Ohio Revised Code › Title 11 | Banks-Savings and Loan Associations › Chapter 1181 | Division of Financial Institutions › Section 1181.06 | Financial Institutions Fund.

Effective:
September 30, 2021
Latest Legislation:
House Bill 110 - 134th General Assembly
There is hereby created in the state treasury the financial institutions fund. The fund shall receive assessments on the banks fund established under section 1121.30 of the Revised Code, the credit unions fund established under section 1733.321 of the Revised Code, and the consumer finance fund established under section 1321.21 of the Revised Code in accordance with procedures prescribed by the superintendent of financial institutions. Such assessments shall be in addition to any assessments on these funds required under division (G) of section 121.08 of the Revised Code. All operating expenses of the division of financial institutions shall be paid from the financial institutions fund. Money in the fund shall be used only for that purpose.
Last updated July 15, 2021 at 1:30 PM
2023 Ohio Revised Code › Title 11 | Banks-Savings and Loan Associations › Chapter 1181 | Division of Financial Institutions › Section 1181.07 | Office Facilities for Superintendent.

Effective:
January 1, 2018
Latest Legislation:
House Bill 49 - 132nd General Assembly
The state shall furnish the superintendent of financial institutions suitable facilities for conducting the business of the superintendent's office at the seat of government and in any other location within the state where it is necessary to keep a resident examiner.
2023 Ohio Revised Code › Title 11 | Banks-Savings and Loan Associations › Chapter 1181 | Division of Financial Institutions › Section 1181.08 | Adoption of Rules.

Effective:
March 20, 2019
Latest Legislation:
House Bill 489 - 132nd General Assembly
(A) In addition to the specific authority given the superintendent of financial institutions by other provisions of the Revised Code, the superintendent may from time to time adopt such rules as the superintendent considers necessary or appropriate for the administration of the division of financial institutions or to carry out any other duty of the superintendent.
(B) The superintendent shall not adopt any rule that has a retroactive effective date or apply any rule to conduct that took place exclusively before the effective date of that rule.
2023 Ohio Revised Code › Title 11 | Banks-Savings and Loan Associations › Chapter 1181 | Division of Financial Institutions › Section 1181.09 | Annual Report.

Effective:
September 26, 1996
Latest Legislation:
Senate Bill 293 - 121st General Assembly
At the conclusion of each fiscal year, the superintendent of financial institutions shall prepare a report on the operation of the division of financial institutions for that year. In conjunction with that report the superintendent shall also prepare a summary of the general condition of each bank, savings and loan association, and savings bank doing business in this state, which summary shall be based on each institution's report of its condition as of the thirtieth day of June of that year.
2023 Ohio Revised Code › Title 11 | Banks-Savings and Loan Associations › Chapter 1181 | Division of Financial Institutions › Section 1181.10 | Seal of Superintendent.

Effective:
January 1, 2018
Latest Legislation:
House Bill 49 - 132nd General Assembly
The seal of the superintendent of financial institutions shall be surrounded by the words: "The superintendent of financial institutions of the state of Ohio."
The seal shall have engraved on it the coat of arms of the state, as described in section 5.04 of the Revised Code, and shall contain the words and devices mentioned in this section and no other.
2023 Ohio Revised Code › Title 11 | Banks-Savings and Loan Associations › Chapter 1181 | Division of Financial Institutions › Section 1181.11 | Records as Evidence.

Effective:
January 1, 2018
Latest Legislation:
House Bill 49 - 132nd General Assembly
Copies of all certificates, records, and papers in the office of the superintendent of financial institutions, including the records of the banking commission, the former savings and loan associations and savings banks board, and the credit union council, duly certified by the superintendent or, in the absence of the superintendent, a deputy superintendent having jurisdiction over the records, and authenticated by the superintendent's seal of office, shall be evidence, in all courts of this state, of every matter which could be proved by the production of the original.
2023 Ohio Revised Code › Title 11 | Banks-Savings and Loan Associations › Chapter 1181 | Division of Financial Institutions › Section 1181.21 | Regulating Consumer Finance Companies.

Effective:
January 1, 2018
Latest Legislation:
House Bill 199, House Bill 49 - 132nd General Assembly
(A) As used in this section, "consumer finance company" has the same meaning as in section 1181.05 of the Revised Code.
(B) The superintendent of financial institutions shall see that the laws relating to consumer finance companies are executed and enforced.
(C) The deputy superintendent for consumer finance shall be the principal supervisor of consumer finance companies. In that position the deputy superintendent for consumer finance shall, notwithstanding section 1321.421, division (A) of section 1321.76, and sections 1321.07, 1321.55, 1322.34, 4727.05, and 4728.05 of the Revised Code, be responsible for conducting examinations and preparing examination reports under those sections and under Chapter 4712. of the Revised Code. In addition, the deputy superintendent for consumer finance shall, notwithstanding sections 1315.27, 1321.10, 1321.43, 1321.54, 1321.77, 1322.57, 4712.14, 4727.13, and 4728.10 of the Revised Code, have the authority to adopt rules and standards in accordance with those sections. In performing or exercising any of the examination, rule-making, or other regulatory functions, powers, or duties vested by this division in the deputy superintendent for consumer finance, the deputy superintendent for consumer finance shall be subject to the control of the superintendent of financial institutions and the director of commerce.
The Legislative Service Commission presents the text of this section as a composite of the section as amended by multiple acts of the General Assembly. This presentation recognizes the principle stated in R.C. 1.52(B) that amendments are to be harmonized if reasonably capable of simultaneous operation.
2023 Ohio Revised Code › Title 11 | Banks-Savings and Loan Associations › Chapter 1181 | Division of Financial Institutions › Section 1181.23 | Multistate Licensing Program.

Effective:
October 17, 2019
Latest Legislation:
House Bill 166 - 133rd General Assembly
(A) The superintendent of financial institutions may require persons licensed or registered by the division of financial institutions to participate in a multistate licensing system.
(B)(1) If the superintendent requires use of a multistate licensing system, the superintendent may establish, by rule, regulation, or order, requirements as necessary to enable information required by existing statutes providing for licensing or registration to be submitted to the superintendent through the multistate licensing system.
(2) The superintendent shall not adopt a requirement in conflict with a provision of the Revised Code, but may add to existing requirements with regard to all of the following:
(a) The manner of obtaining required criminal history records, civil or administrative records, or credit history records;
(b) The payment of fees required for the use of the multistate licensing system;
(c) The setting or resetting as necessary of renewal or reporting dates;
(d) The amending of or surrendering of a license or registration.
(C) Any person engaged in activity that requires licensure or registration pursuant to this section shall utilize the multistate licensing system for the application for, renewal of, amendment to, or surrender of a license or registration, as well as for any other activity as the superintendent may require. Such a person shall pay all applicable charges to utilize the multistate licensing system.
(D) The superintendent is authorized to establish relationships or contacts with the multistate licensing system or other entities designated by the multistate licensing system to collect and maintain records and process transaction fees or other fees related to licensees and registrants.
(E) Any confidentiality or privilege arising under federal or state law with respect to any information or material provided to the multistate licensing system shall continue to apply to the information or material after the information or material is provided to the multistate licensing system. The information and material so provided may be released to any state or federal regulatory official with applicable oversight authority without the loss of confidentiality or privilege protections provided by federal law or the law of any state.
(F) The superintendent may use the documents, materials, or other information made available to the superintendent through the multistate licensing system in furtherance of any action brought by the superintendent.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.101 | Short Titles - Ucc 1-101.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Short titles [UCC 1-101]
(A) Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code may be cited as the Uniform Commercial Code.
(B) Sections 1301.101 to 1301.310 of the Revised Code may be cited as Uniform Commercial Code - General Provisions.
(C) This chapter uses the numbering system of the national conference of commissioners on uniform state laws. The digits to the right of the decimal point are sequential and not supplemental to any preceding Revised Code section.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.102 | Scope of Chapter 1301 - Ucc 1-102.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Scope of Chapter 1301. [UCC 1-102]
Sections 1301.101 to 1301.310 of the Revised Code apply to a transaction to the extent that it is governed by Chapter 1302., 1303., 1304., 1305., 1307., 1308., 1309., or 1310. of the Revised Code.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.103 | Construction of Uniform Commercial Code to Promote Its Purposes and Policies; Applicability of Supplemental Principles of Law - Ucc 1-103.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Construction of Uniform Commercial Code to promote its purposes and policies; applicability of supplemental principles of law [UCC 1-103]
(A) Chapters 1301., 1302., 1303., 1304, 1305., 1307., 1308., 1309., and 1310. of the Revised Code must be liberally construed and applied to promote their underlying purposes and policies, which are:
(1) To simplify, clarify, and modernize the law governing commercial transactions;
(2) To permit the continued expansion of commercial practices through custom, usage, and agreement of the parties; and
(3) To make uniform the law among the various jurisdictions.
(B) Unless displaced by the particular provisions of Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code, the principles of law and equity, including the law merchant and the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy, and other validating or invalidating cause supplement their provisions.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.104 | Construction Against Implied Repeal - Ucc 1-104.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Construction against implied repeal [UCC 1-104]
Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code being a general act intended as a unified coverage of its subject matter, no part of it shall be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.105 | Severability - Ucc 1-105.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Severability [UCC 1-105]
If any provision or clause of Chapter 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., or 1310. of the Revised Code or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of Chapter 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., or 1310. of the Revised Code which can be given effect without the invalid provision or application, and to this end the provisions of Chapter 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., or 1310. of the Revised Code are severable.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.106 | Use of Singular and Plural; Gender - Ucc 1-106.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Use of singular and plural; gender [UCC 1-106]
In Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code, unless the statutory context otherwise requires:
(A) Words in the singular number include the plural, and those in the plural include the singular; and
(B) Words of any gender also refer to any other gender.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.107 | Section Captions - Ucc 1-107.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Section captions [UCC 1-107]
Section captions are part of Chapters 1301. and 1307. of the Revised Code.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.108 | Relation to Electronic Signatures in Global and National Commerce Act - Ucc 1-108.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Relation to Electronic Signatures in Global and National Commerce Act [UCC 1-108]
This chapter modifies, limits, and supersedes the federal "Electronic Signatures in Global and National Commerce Act," 15 U.S.C. section 7001 et seq., except that nothing in this chapter modifies, limits, or supersedes section 7001(c) of that act or authorizes electronic delivery of any of the notices described in section 7003(b) of that act.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.202 | Notice; Knowledge - Ucc 1-202.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Notice; knowledge [UCC 1-202]
(A) Subject to division (F) of this section, a person has "notice" of a fact if the person:
(1) Has actual knowledge of it;
(2) Has received a notice or notification of it; or
(3) From all the facts and circumstances known to the person at the time in question, has reason to know that it exists.
(B) "Knowledge" means actual knowledge. "Knows" has a corresponding meaning.
(C) "Discover", "learn", or words of similar import refer to knowledge rather than to reason to know.
(D) A person "notifies" or "gives" a notice or notification to another person by taking such steps as may be reasonably required to inform the other person in ordinary course, whether or not the other person actually comes to know of it.
(E) Subject to division (F) of this section, a person "receives" a notice or notification when:
(1) It comes to that person's attention; or
(2) It is duly delivered in a form reasonable under the circumstances at the place of business through which the contract was made or at another location held out by that person as the place for receipt of such communications.
(F) Notice, knowledge, or a notice or notification received by an organization is effective for a particular transaction from the time it is brought to the attention of the individual conducting that transaction and, in any event, from the time it would have been brought to the individual's attention if the organization had exercised due diligence. An organization exercises due diligence if it maintains reasonable routines for communicating significant information to the person conducting the transaction and there is reasonable compliance with the routines. Due diligence does not require an individual acting for the organization to communicate information unless the communication is part of the individual's regular duties or the individual has reason to know of the transaction and that the transaction would be materially affected by the information.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.204 | Value - Ucc 1-204.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Value [UCC 1-204]
Except as otherwise provided in Chapters 1303., 1304., and 1305. of the Revised Code, a person gives value for rights if the person acquires them:
(A) In return for a binding commitment to extend credit or for the extension of immediately available credit, whether or not drawn upon and whether or not a charge-back is provided for in the event of difficulties in collection;
(B) As security for, or in total or partial satisfaction of, a preexisting claim;
(C) By accepting delivery under a preexisting contract for purchase; or
(D) In return for any consideration sufficient to support a simple contract.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.205 | Reasonable Time; Seasonableness [Ucc 1-205].

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Reasonable time; Seasonableness [UCC 1-205]
(A) Whether a time for taking an action required by Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code is reasonable depends on the nature, purpose, and circumstances of the action.
(B) An action is taken seasonably if it is taken at or within the time agreed or, if no time is agreed, at or within a reasonable time.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.206 | Presumptions - Ucc 1-206.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Presumptions [UCC 1-206]
Whenever Chapter 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., or 1310. of the Revised Code creates a "presumption" with respect to a fact, or provides that a fact is "presumed," the trier of fact must find the existence of the fact unless and until evidence is introduced that supports a finding of its nonexistence.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.301 | Territorial Applicability; Parties' Power to Choose Applicable Law - Ucc 1-301.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Territorial applicability; parties' power to choose applicable law [UCC 1-301]
(A) Except as otherwise provided in this section, when a transaction bears a reasonable relation to this state and also to another state or nation the parties may agree that the law either of this state or of such other state or nation shall govern their rights and duties.
(B) In the absence of an agreement effective under division (A) of this section, and except as provided in division (C) of this section, Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code apply to transactions bearing an appropriate relation to this state.
(C) If one of the following provisions of Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code specifies the applicable law, that provision governs and a contrary agreement is effective only to the extent permitted by the law so specified:
(1) Section 1302.43 of the Revised Code;
(2) Sections 1310.03 and 1310.04 of the Revised Code;
(3) Section 1304.02 of the Revised Code;
(4) Section 1304.85 of the Revised Code;
(5) Section 1305.15 of the Revised Code;
(6) Section 1308.05 of the Revised Code;
(7) Sections 1309.301 to 1309.307 of the Revised Code.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.302 | Variation by Agreement - Ucc 1-302.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Variation by agreement [UCC 1-302]
(A) Except as otherwise provided in division (B) of this section or elsewhere in Chapter 1301., 1303., 1304., 1305., 1307., 1308., 1309., or 1310. of the Revised Code, the effect of provisions of Chapters 1301., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code may be varied by agreement.
(B) The obligations of good faith, diligence, reasonableness, and care prescribed by Chapter 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., or 1310. of the Revised Code may not be disclaimed by agreement. The parties, by agreement, may determine the standards by which the performance of those obligations is to be measured if those standards are not manifestly unreasonable. Whenever Chapter 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., or 1310. of the Revised Code requires an action to be taken within a reasonable time, a time that is not manifestly unreasonable may be fixed by agreement.
(C) The presence in certain provisions of Chapter 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., or 1310. of the Revised Code of the phrase "unless otherwise agreed", or words of similar import, does not imply that the effect of other provisions may not be varied by agreement under this section.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.303 | Course of Performance, Course of Dealing, and Usage of Trade - Ucc 1-303.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Course of performance, course of dealing, and usage of trade [UCC 1-303]
(A) A "course of performance" is a sequence of conduct between the parties to a particular transaction that exists if:
(1) The agreement of the parties with respect to the transaction involves repeated occasions for performance by a party; and
(2) The other party, with knowledge of the nature of the performance and opportunity for objection to it, accepts the performance or acquiesces in it without objection.
(B) A "course of dealing" is a sequence of conduct concerning previous transactions between the parties to a particular transaction that is fairly to be regarded as establishing a common basis of understanding for interpreting their expressions and other conduct.
(C) A "usage of trade" is any practice or method of dealing having such regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with respect to the transaction in question. The existence and scope of such a usage must be proved as facts. If it is established that such a usage is embodied in a trade code or similar record, the interpretation of the record is a question of law.
(D) A course of performance or course of dealing between the parties or usage of trade in the vocation or trade in which they are engaged or of which they are or should be aware is relevant in ascertaining the meaning of the parties' agreement, may give particular meaning to specific terms of the agreement, and may supplement or qualify the terms of the agreement. A usage of trade applicable in the place in which part of the performance under the agreement is to occur may be so utilized as to that part of the performance.
(E) Except as otherwise provided in division (F) of this section, the express terms of an agreement and any applicable course of performance, course of dealing, or usage of trade must be construed whenever reasonable as consistent with each other. If such a construction is unreasonable:
(1) Express terms prevail over course of performance, course of dealing, and usage of trade;
(2) Course of performance prevails over course of dealing and usage of trade; and
(3) Course of dealing prevails over usage of trade.
(F) Subject to section 1302.12 of the Revised Code, a course of performance is relevant to show a waiver or modification of any term inconsistent with the course of performance.
(G) Evidence of a relevant usage of trade offered by one party is not admissible unless that party has given the other party notice that the court finds sufficient to prevent unfair surprise to the other party.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.304 | Obligation of Good Faith - Ucc 1-304.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Obligation of good faith [UCC 1-304]
Every contract or duty within Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code imposes an obligation of good faith in its performance and enforcement.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.305 | Remedies to Be Liberally Administered - Ucc 1-305.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Remedies to be liberally administered [UCC 1-305]
(A) The remedies provided by Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code must be liberally administered to the end that the aggrieved party may be put in as good a position as if the other party had fully performed but neither consequential or special damages nor penal damages may be had except as specifically provided in those chapters or by other rule of law.
(B) Any right or obligation declared by Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code is enforceable by action unless the provision declaring it specifies a different and limited effect.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.306 | Waiver or Renunciation of Claim or Right After Breach - Ucc 1-306.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Waiver or renunciation of claim or right after breach [UCC 1-306]
A claim or right arising out of an alleged breach may be discharged in whole or in part without consideration by agreement of the aggrieved party in an authenticated record.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.307 | Prima Facie Evidence by Third-Party Documents - Ucc 1-307.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Prima facie evidence by third-party documents [UCC 1-307]
A document in due form purporting to be a bill of lading, policy or certificate of insurance, official weigher's or inspector's certificate, consular invoice, or any other document authorized or required by the contract to be issued by a third party is prima facie evidence of its own authenticity and genuineness and of the facts stated in the document by the third party.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.308 | Performance or Acceptance Under Reservation of Rights - Ucc 1-308.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Performance or acceptance under reservation of rights [UCC 1-308]
(A) A party that with explicit reservation of rights performs or promises performance or assents to performance in a manner demanded or offered by the other party does not thereby prejudice the rights reserved. Such words as "without prejudice," "under protest," or the like are sufficient.
(B) Division (A) of this section does not apply to an accord and satisfaction.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.309 | Option to Accelerate at Will - Ucc 1-309.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Option to accelerate at will [UCC 1-309]
A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional collateral "at will" or when the party "deems itself insecure," or in words of similar import, means that the party has power to do so only if that party in good faith believes that the prospect of payment or performance is impaired. The burden of establishing lack of good faith is on the party against which the power has been exercised.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.310 | Subordinated Obligations - Ucc 1-310.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Subordinated obligations [UCC 1-310]
An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to performance of an obligation by agreement with either the person obligated or another creditor of the person obligated. Subordination does not create a security interest as against either the common debtor or a subordinated creditor.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.311 | Transactions Entered Into Before 7-1-62 - Ucc 10-102(2).

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Transactions entered into before 7-1-62 [UCC 10-102(2)]
Transactions validly entered into before July 1, 1962, and the rights, duties, and interests flowing from them remain valid after that date and may be terminated, completed, consummated, or enforced as required or permitted by any statute or other law amended or repealed by Amended Senate Bill No. 5 of the 104th General Assembly as though that repeal or amendment had not occurred.
Instruments, documents, or notices filed prior to July 1, 1962, in accordance with the law at the time of the filings shall be deemed to be filed under Chapters 1301., 1302., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code as of the original date or filing and may be continued or terminated as provided in those chapters.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1301 | General Provisions › Section 1301.401 | Effect of Recording Documents.

Effective:
March 27, 2013
Latest Legislation:
House Bill 479 - 129th General Assembly
(A) For purposes of this section, "public record" means either of the following:
(1) Any document described or referred to in section 317.08 of the Revised Code;
(2) Any document the filing or recording of which is required or allowed under any provision of Chapter 1309. of the Revised Code.
(B) The recording with any county recorder of any document described in division (A)(1) of this section or the filing or recording with the secretary of state of any document described in division (A)(2) of this section shall be constructive notice to the whole world of the existence and contents of either document as a public record and of any transaction referred to in that public record, including, but not limited to, any transfer, conveyance, or assignment reflected in that record.
(C) Any person contesting the validity or effectiveness of any transaction referred to in a public record is considered to have discovered that public record and any transaction referred to in the record as of the time that the record was first filed with the secretary of state or tendered to a county recorder for recording.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1302 | Sales › Section 1302.02 | Scope - Certain Security and Other Transactions Excluded - Ucc 2-102.

Effective:
July 1, 1962
Latest Legislation:
Senate Bill 5 - 104th General Assembly
Unless the context otherwise requires, sections 1302.01 to 1302.98, inclusive, of the Revised Code, apply to transactions in goods; they do not apply to any transaction which although in the form of an unconditional contract to sell or present sale is intended to operate only as a security transaction nor do sections 1302.01 to 1302.98, inclusive, of the Revised Code impair or repeal any statute regulating sales to consumers, farmers, or other specified classes of buyers.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1302 | Sales › Section 1302.03 | Goods to Be Severed From Realty - Recording - Ucc 2-107.

Effective:
January 1, 1979
Latest Legislation:
Senate Bill 85 - 112th General Assembly
(A) A contract for the sale of minerals or the like, including oil and gas, or a structure or its materials to be removed from realty is a contract for the sale of goods within sections 1302.01 to 1302.98 of the Revised Code, if they are to be severed by the seller but until severance a purported present sale thereof which is not effective as a transfer of an interest in land is effective only as a contract to sell.
(B) A contract for the sale apart from the land of growing crops or other things attached to realty and capable of severance without material harm thereto but not described in division (A) of this section or of timber to be cut is a contract for the sale of goods within sections 1302.01 to 1302.98 of the Revised Code, whether the subject matter is to be severed by the buyer or by the seller even though it forms part of the realty at the time of contracting, and the parties can by identification effect a present sale before severance.
(C) The provisions of this section are subject to any third party rights provided by section 5301.25 of the Revised Code relating to realty records, and the contract for sale may be executed and recorded as a document transferring an interest in land, as provided in section 5301.25 of the Revised Code, and shall then constitute notice to third parties of the buyer's rights under the contract for sale.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1302 | Sales › Section 1302.04 | Formal Requirements - Statute of Frauds - Ucc 2-201.

Effective:
July 1, 1962
Latest Legislation:
Senate Bill 5 - 104th General Assembly
(A) Except as otherwise provided in this section a contract for the sale of goods for the price of five hundred dollars or more is not enforceable by way of action or defense unless there is some writing sufficient to indicate that a contract for sale has been made between the parties and signed by the party against whom enforcement is sought or by his authorized agent or broker . A writing is not insufficient because it omits or incorrectly states a term agreed upon but the contract is not enforceable under this division beyond the quantity of goods shown in such writing.
(B) Between merchants if within a reasonable time a writing in confirmation of the contract and sufficient against the sender is received and the party receiving it has reason to know its contents, it satisfies the requirements of division (A) of this section against such party unless written notice of objection to its contents is given within ten days after it is received.
(C) A contract which does not satisfy the requirements of division (A) of this section but which is valid in other respects is enforceable:
(1) if the goods are to be specially manufactured for the buyer and are not suitable for sale to others in the ordinary course of the seller's business and the seller, before notice of repudiation is received and under circumstances which reasonably indicate that the goods are for the buyer, has made either a substantial beginning of their manufacture or commitments for their procurement; or
(2) if the party against whom enforcement is sought admits in his pleading, testimony, or otherwise in court that a contract for sale was made, but the contract is not enforceable under this provision beyond the quantity of goods admitted; or
(3) with respect to goods for which payment has been made and accepted or which have been received and accepted in accordance with section 1302.64 of the Revised Code.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1302 | Sales › Section 1302.05 | Final Written Expression - Parol or Extrinsic Evidence - Ucc 2-202.

Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
Terms with respect to which the confirmatory memoranda of the parties agree or which are otherwise set forth in a writing intended by the parties as a final expression of their agreement with respect to such terms as are included therein may not be contradicted by evidence of any prior agreement or of a contemporaneous oral agreement but may be explained or supplemented:
(A) by course of performance, course of dealing, or usage of trade as provided in section 1301.303 of the Revised Code; and
(B) by evidence of consistent additional terms unless the court finds the writing to have been intended also as a complete and exclusive statement of the terms of the agreement.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1302 | Sales › Section 1302.06 | Seals Inoperative - Ucc 2-203.

Effective:
July 1, 1962
Latest Legislation:
Senate Bill 5 - 104th General Assembly
The affixing of a seal to a writing evidencing a contract for sale or an offer to buy or sell goods does not constitute the writing a sealed instrument and the law with respect to sealed instruments does not apply to such a contract or offer.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1302 | Sales › Section 1302.07 | Formation in General - Ucc 2-204.

Effective:
July 1, 1962
Latest Legislation:
Senate Bill 5 - 104th General Assembly
(A) A contract for sale of goods may be made in any manner sufficient to show agreement, including conduct by both parties which recognizes the existence of such a contract.
(B) An agreement sufficient to constitute a contract for sale may be found even though the moment of its making is undetermined.
(C) Even though one or more terms are left open a contract for sale does not fail for indefiniteness if the parties have intended to make a contract and there is a reasonably certain basis for giving an appropriate remedy.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1302 | Sales › Section 1302.08 | Firm Offers - Ucc 2-205.

Effective:
July 1, 1962
Latest Legislation:
Senate Bill 5 - 104th General Assembly
An offer by a merchant to buy or sell goods in a signed writing which by its terms gives assurance that it will be held open is not revocable, for lack of consideration, during the time stated or if no time is stated for a reasonable time, but in no event may such period of irrevocability exceed three months; but any such term of assurance on a form supplied by the offeree must be separately signed by the offeror.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1302 | Sales › Section 1302.09 | Offer and Acceptance in Formation of Contract - Ucc 2-206.

Effective:
July 1, 1962
Latest Legislation:
Senate Bill 5 - 104th General Assembly
(A) Unless otherwise unambiguously indicated by the language or circumstances:
(1) an offer to make a contract shall be construed as inviting acceptance in any manner and by any medium reasonable in the circumstances;
(2) an order or other offer to buy goods for prompt or current shipment shall be construed as inviting acceptance either by a prompt promise to ship or by the prompt or current shipment of conforming or non-conforming goods, but such a shipment of non-conforming goods does not constitute an acceptance if the seller seasonably notifies the buyer that the shipment is offered only as an accommodation to the buyer.
(B) Where the beginning of a requested performance is a reasonable mode of acceptance an offeror who is not notified of acceptance within a reasonable time may treat the offer as having lapsed before acceptance.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1302 | Sales › Section 1302.10 | Additional Terms in Acceptance or Confirmation - Ucc 2-207.

Effective:
August 15, 1996
Latest Legislation:
Senate Bill 155 - 121st General Assembly
(A) A definite and seasonable expression of acceptance or a written confirmation that is sent within a reasonable time operates as an acceptance even though it states terms additional or different from those offered or agreed upon, unless acceptance is expressly made conditional on assent to the additional or different terms.
(B) The additional terms are to be construed as proposals for addition to the contract. Between merchants, the terms become part of the contract unless one of the following applies:
(1) The offer expressly limits acceptance to the terms of the offer.
(2) They materially alter it.
(3) Notification of objection to them has already been given or is given within a reasonable time after notice of them is received.
(C) Conduct by both parties that recognizes the existence of a contract is sufficient to establish a contract for sale although the writings of the parties do not otherwise establish a contract. In such case, the terms of the particular contract consist of those terms on which the writings of the parties agree, together with any supplementary terms incorporated under any other provisions of Chapters 1301., 1302., 1303., 1304., 1305., 1307., 1308., 1309., and 1310. of the Revised Code.
2023 Ohio Revised Code › Title 13 | Commercial Transactions › Chapter 1302 | Sales › Section 1302.12 | Modification, Rescission, and Waiver - Ucc 2-209.

Effective:
July 1, 1962
Latest Legislation:
Senate Bill 5 - 104th General Assembly
(A) An agreement modifying a contract within sections 1302.01 to 1302.98, inclusive, of the Revised Code, needs no consideration to be binding.
(B) A signed agreement which excludes modification or rescission except by a signed writing cannot be otherwise modified or rescinded, but except as between merchants such a requirement on a form supplied by the merchant must be separately signed by the other party.
(C) The requirements of section 1302.04 of the Revised Code, must be satisfied if the contract as modified is within its provisions.
(D) Although an attempt at modification or rescission does not satisfy the requirements of division (B) or (C) of this section, it can operate as a waiver.
(E) A party who has made a waiver affecting an executory portion of the contract may retract the waiver by reasonable notification received by the other party that strict performance will be required of any term waived, unless the retraction would be unjust in view of a material change of position in reliance on the waiver.