Effective: March 27, 2013
Latest Legislation: House Bill 479 - 129th General Assembly
Section 1319.08 of the Revised Code does not prohibit a loan that is secured by a mortgage on real property located in this state from being fully recourse to the borrower or guarantor, including, but not limited to, as a result of a postclosing solvency covenant, if the loan documents for that loan do not contain nonrecourse loan provisions.
Structure Ohio Revised Code
Title 13 | Commercial Transactions
Chapter 1319 | Miscellaneous Credit Transactions
Section 1319.01 | Liability for Unauthorized Use of Credit Card.
Section 1319.06 | Husband and Wife Must Join in Chattel Mortgage on Household Property.
Section 1319.07 | Definitions for Rc Sections 1319.07 to 1319.09.
Section 1319.08 | Use of Postclosing Solvency Covenant.
Section 1319.09 | Loans Without Nonrecourse Loan Provisions.
Section 1319.11 | Joining or Separating Claims of Creditors.
Section 1319.12 | Taking Assignment of Debts.