Effective: January 1, 1998
Latest Legislation: House Bill 170 - 122nd General Assembly
(A) "Securities account" means an account to which a financial asset is or may be credited in accordance with an agreement under which the person maintaining the account undertakes to treat the person for whom the account is maintained as entitled to exercise the rights that comprise the financial asset.
(B) Except as otherwise provided in divisions (D) and (E) of this section, a person acquires a security entitlement if a securities intermediary:
(1) Indicates by book entry that a financial asset has been credited to the person's securities account;
(2) Receives a financial asset from the person or acquires a financial asset for the person and, in either case, accepts it for credit to the person's securities account; or
(3) Becomes obligated under other law, regulation, or rule to credit a financial asset to the person's securities account.
(C) If a condition of division (B) of this section has been met, a person has a security entitlement even though the securities intermediary does not itself hold the financial asset.
(D) If a securities intermediary holds a financial asset for another person, and the financial asset is registered in the name of, payable to the order of, or specially indorsed to the other person, and has not been indorsed to the securities intermediary or in blank, the other person is treated as holding the financial asset directly rather than as having a security entitlement with respect to the financial asset.
(E) Issuance of a security is not establishment of a security entitlement.
Structure Ohio Revised Code
Title 13 | Commercial Transactions
Chapter 1308 | Investment Securities
Section 1308.01 | Definitions - Ucc 8-102.
Section 1308.03 | Overissue Defined - Effect - Ucc 8-210.
Section 1308.04 | Evidentiary Rules Concerning Certificate Securities - Ucc 8-114.
Section 1308.05 | Applicability - Choice of Law - Ucc 8-110.
Section 1308.06 | Clearing Corporation Rules - Ucc 8-111.
Section 1308.07 | Statute of Frauds Inapplicable - Ucc 8-113.
Section 1308.08 | Issuer - Ucc 8-201.
Section 1308.09 | Issuer's Responsibility and Defenses - Notice of Defect or Defense - Ucc 8-202.
Section 1308.10 | Staleness as Notice of Defect or Defense - Ucc 8-203.
Section 1308.12 | Effect of Unauthorized Signature on Security Certificate - Ucc 8-205.
Section 1308.13 | Completion or Alteration of Security Certificate - Ucc 8-206.
Section 1308.14 | Rights and Duties of Issuer With Respect to Registered Owners - Ucc 8-207.
Section 1308.16 | Rights of Purchaser - Ucc 8-302.
Section 1308.17 | Protected Purchaser - Ucc 8-303.
Section 1308.18 | Acquisition of Security or Financial Asset or Interest Therein - Ucc 8-104.
Section 1308.19 | Notice of Adverse Claim - Ucc 8-105.
Section 1308.20 | Warranties in Direct Holding - Ucc 8-108.
Section 1308.21 | Warranties in Indirect Holding - Ucc 8-109.
Section 1308.22 | Indorsement - Ucc 8-304.
Section 1308.23 | Whether Indorsement, Instruction, or Entitlement Order Is Effective - Ucc 8-107.
Section 1308.24 | Control - Ucc 8-106.
Section 1308.25 | Instruction - Ucc 8-305.
Section 1308.26 | Effect of Guaranteeing Signature, Indorsement, or Instruction - Ucc 8-306.
Section 1308.27 | Delivery - Ucc 8-301.
Section 1308.29 | Fulfilling Duty to Transfer.
Section 1308.30 | Wrongful Transfer of Security.
Section 1308.31 | Purchaser's Right to Requisites for Registration of Transfer - Ucc 8-307.
Section 1308.32 | Creditor's Legal Process - Ucc 8-112.
Section 1308.37 | Duty of Issuer to Register Transfer - Ucc 8-401.
Section 1308.38 | Assurance That Indorsement or Instruction Is Effective - Ucc 8-402.
Section 1308.39 | Demand That Issuer Not Register Transfer - Ucc 8-403.
Section 1308.40 | Wrongful Registration - Ucc 8-404.
Section 1308.42 | Authenticating Trustee, Transfer Agent, and Registrar - Ucc 8-407.
Section 1308.52 | Assertion of Adverse Claim Against Entitlement Holder - Ucc 8-502.
Section 1308.54 | Duty of Securities Intermediary to Maintain Financial Asset - Ucc 8-504.
Section 1308.57 | Duty of Securities Intermediary to Comply With Entitlement Holder - Ucc 8-507.
Section 1308.60 | Rights of Purchaser of Security Entitlement From Entitlement Holder - Ucc 8-510.
Section 1308.61 | Priority Among Security Interests and Entitlement Holders - Ucc 8-511.