Effective: May 4, 2012
Latest Legislation: House Bill 48 - 129th General Assembly
(A) A mortgage of property of any description, or any interest in the property, made (1) by a corporation that is a railroad or a public utility as defined by sections 4907.02, 4905.02, and 4905.03 of the Revised Code; (2) by a corporation, domestic or foreign, organized for the purpose of constructing, acquiring, owning, or operating a railroad or public utility, as so defined, or any part of a railroad or public utility, or, as a common carrier, a trolley bus system, in whole or in part in this state; (3) by a municipal corporation pursuant to Section 12 of Article XVIII, Ohio Constitution; (4) by the state, a county, or a municipal corporation, pursuant to Chapter 165. of the Revised Code, or a port authority pursuant to section 4582.06 or 4582.31 of the Revised Code; or (5) by an electric cooperative as defined by section 4928.01 of the Revised Code, shall be recorded in the office of the county recorder of each county in this state in which any of that property is situated or employed. However, a mortgage by such mortgagor that includes rolling stock or movable equipment such as cars, locomotives, or trolley buses, motor buses, or other vehicles, or machines for aerial transportation, may be filed in the office of the secretary of state, and when so filed shall have the same effect, as to the lien created by the mortgage on that rolling stock, movable equipment, or machines, as though filed in the office of the recorder of each county in which the rolling stock, movable equipment, or machines are situated or employed. In lieu of filing an original of the mortgage described in this division, a true copy of the mortgage, with an affidavit by the mortgagor, the mortgagee, or an agent of either that it is a true copy, may be filed.
(B) Any mortgage described in division (A) of this section shall be a lien on the property described in the mortgage from the respective times of the filing of the mortgage for record with the recorders of the appropriate counties; but any such mortgage covering rolling stock, movable equipment, or machines described in division (A) of this section shall be a lien on that stock or equipment or those machines from the time of the filing of the mortgage, or a true copy of the mortgage, with the secretary of state.
(C) If any mortgage by its terms creates a lien upon any property that may thereafter be acquired by the mortgagor, it shall be a lien upon all the interest of the mortgagor in that after-acquired property from the date of its acquisition, if the mortgage was or is recorded or filed as provided in this section.
(D) The secretary of state shall charge and collect, for every mortgage or true copy of the mortgage filed in the secretary of state's office under this section, a fee of ten dollars and, for each page in excess of twenty-five pages an additional fee of one dollar. The secretary of state shall endorse on the mortgage or true copy the time of its filing and shall keep a record of the filing in a book to be kept for that purpose, giving the names of all parties to the mortgage, alphabetically arranged, the date of the mortgage, and the time of its filing. The mortgage or true copy and the record of its filing shall be open to public inspection. When the mortgage is canceled, the date of cancellation shall be entered on the margin of the record of the mortgage.
(E) Mortgages of the character described in this section need not be otherwise filed or refiled as security interests under Chapter 1309. of the Revised Code.
(F) Nothing contained in this section shall make inapplicable the provisions of Chapters 4505. to 4519. of the Revised Code, relating to motor vehicles.
Structure Ohio Revised Code
Title 17 | Corporations-Partnerships
Chapter 1701 | General Corporation Law
Section 1701.01 | General Corporation Law Definitions.
Section 1701.02 | Computation of Time for Notice.
Section 1701.03 | Purposes of Corporation.
Section 1701.04 | Articles of Incorporation.
Section 1701.041 | Exemptions for Disaster Workers.
Section 1701.05 | Corporate Name - Transfer - Reservation.
Section 1701.06 | Express Terms of Shares.
Section 1701.07 | Statutory Agent - Cancellation and Reinstatement of Articles.
Section 1701.09 | Subscriptions for Shares.
Section 1701.10 | Initial Directors Holding Organizational Meeting.
Section 1701.11 | Adopting, Amending, and Repealing Regulations.
Section 1701.12 | Liability for Non-Payment of Initial Stated Capital.
Section 1701.13 | Authority of Corporation.
Section 1701.14 | Issuance of Shares and Release of Obligation of Subscriber.
Section 1701.15 | Pre-Emptive Rights.
Section 1701.16 | Options to Purchase Shares.
Section 1701.17 | Sale of Shares to Corporation or Subsidiary Employees - Delegation of Authority.
Section 1701.18 | Payment for Shares and Liability of Shareholders to Corporation.
Section 1701.19 | Determination of Fair Value of Property or Services.
Section 1701.20 | Enforcing Payment for Shares.
Section 1701.21 | Conversion of Shares.
Section 1701.22 | Conversion Rights.
Section 1701.23 | Redemption of Shares.
Section 1701.24 | Certificates for Shares - Fractional Shares - Uncertificated Shares.
Section 1701.25 | Statements on Certificate for Shares.
Section 1701.26 | Transfer Agents and Registrars.
Section 1701.27 | Replacement of Lost, Stolen or Destroyed Certificate.
Section 1701.28 | Recognizing Record Ownership of Shares or Other Securities.
Section 1701.29 | Organizing and Financing Expenses.
Section 1701.30 | Stated Capital.
Section 1701.31 | Reduction of Stated Capital.
Section 1701.33 | Dividends and Distributions.
Section 1701.34 | Recovery of Unclaimed Dividend or Distribution.
Section 1701.35 | Purchase of Own Shares.
Section 1701.36 | Shares Deemed Retired.
Section 1701.38 | Annual Report.
Section 1701.39 | Annual Meeting.
Section 1701.40 | Calling Meeting of Shareholders.
Section 1701.41 | Notice of Meeting.
Section 1701.42 | Waiver of Notice.
Section 1701.43 | Notice Requirements May Be Dispensed With.
Section 1701.44 | Qualifications of Voters.
Section 1701.45 | Director to Fix Record Date.
Section 1701.46 | Voting by Fiduciaries and Minors.
Section 1701.47 | Voting by Corporations.
Section 1701.48 | Voting by Proxy.
Section 1701.49 | Voting Trusts.
Section 1701.50 | Inspectors of Elections.
Section 1701.51 | Quorum at Shareholders' Meetings.
Section 1701.52 | Vote of Shareholders Required - Proportion.
Section 1701.53 | Vote of Shareholders Required for Rescission or Revocation.
Section 1701.54 | Action by Shareholders or Directors Without a Meeting.
Section 1701.55 | Election of Directors - Cumulative Voting.
Section 1701.56 | Number and Qualifications of Directors - Provisional Director.
Section 1701.57 | Term and Classification of Directors.
Section 1701.58 | Removal of Directors and Filling Vacancies.
Section 1701.59 | Authority of Directors - Bylaws.
Section 1701.591 | Close Corporation Agreement.
Section 1701.60 | Contract, Action or Transaction Not Void or Voidable.
Section 1701.61 | Meetings of Directors.
Section 1701.62 | Quorum for Directors' Meeting.
Section 1701.63 | Executive and Other Committees of Directors - Subcommittees.
Section 1701.64 | Officers - Authority and Removal.
Section 1701.641 | Fiduciary Duties of Officers.
Section 1701.65 | Corporate Mortgages.
Section 1701.66 | Recording of Railroad or Public Utility Mortgages.
Section 1701.67 | Using Facsimile Signatures.
Section 1701.69 | Amendments to Articles.
Section 1701.70 | Procedure for Amending Articles by Directors - Incorporators.
Section 1701.71 | Shareholders May Adopt Amendments.
Section 1701.72 | Amended Articles.
Section 1701.73 | Filing and Signing of Certificate of Amendment or Amended Articles.
Section 1701.74 | Dissenting Shareholders.
Section 1701.75 | Reorganization of Corporation.
Section 1701.76 | Sale or Other Disposition of Assets of Corporation - Limitations.
Section 1701.77 | Judicial Sale of Property.
Section 1701.78 | Merger or Consolidation Into Domestic Corporation.
Section 1701.781 | Merger or Consolidation Into Domestic Corporation - Noncorporate Entities.
Section 1701.782 | Conversion of Another Entity Into Domestic Corporation.
Section 1701.79 | Merger or Consolidation Into Foreign Corporation.
Section 1701.791 | Merging or Consolidating Constituent Entities That Are Not Corporations.
Section 1701.792 | Conversion of Domestic Corporation Into Another Entity.
Section 1701.80 | Merger Into Domestic or Foreign Parent Corporation.
Section 1701.801 | Merging Into Domestic Subsidiary Corporation.
Section 1701.802 | Merger Converting Wholly Owned Subsidiary Into Parent Corporation.
Section 1701.81 | Certificate of Merger or Consolidation.
Section 1701.811 | Filing of Certificate of Conversion - Effective Date.
Section 1701.82 | Conditions Following Merger or Consolidation.
Section 1701.821 | Legal Effect of Conversion - Action to Set Aside.
Section 1701.83 | Effecting a Combination or Majority Share Acquisition.
Section 1701.831 | Control Share Acquisitions Procedures.
Section 1701.832 | State's Responsibility as to Tender Offers.
Section 1701.84 | Dissenting Shareholders Entitled to Relief.
Section 1701.85 | Dissenting Shareholders - Compliance With Section - Fair Cash Value of Shares.
Section 1701.86 | Voluntary Dissolution.
Section 1701.87 | Notice of Dissolution to Creditors and Claimants Against Corporation.
Section 1701.88 | Winding Up or Obtaining Reinstatement - Powers and Duties of Directors.
Section 1701.881 | Notice of Rejection of Claim; Offer of Security.
Section 1701.882 | Satisfaction of Obligations; Payments.
Section 1701.883 | Liability of Shareholder of Dissolved Corporation.
Section 1701.90 | Receiver for Winding Up Affairs of Corporation.
Section 1701.91 | Judicial Dissolution.
Section 1701.911 | Provisional Director - Appointment, Duties, Qualifications.
Section 1701.92 | Certified Copies as Evidence of Incorporation, Articles and Proceedings.
Section 1701.921 | Persons Performing Services to Corporation or Shareholders.
Section 1701.922 | Restoring Rights, Privileges and Franchises Upon Reinstatement.
Section 1701.93 | False Statement or Entry.
Section 1701.94 | Forfeiture by Corporation for Failure to Comply With Certain Requirements.
Section 1701.95 | Liability for Unlawful Loans, Dividends, Distribution of Assets.
Section 1701.96 | Benefit Corporations.
Section 1701.97 | Exercise of Expired Powers.