Ohio § 1303.37
Full text of Ohio Ohio Revised Code § 1303.37, with citation guidance and answers to common questions.
§ 1303.37.
(A) As used in this section: (1) “Fiduciary” means an agent, trustee, partner, corporate officer, corporate director,
or other representative owing a fiduciary duty with respect to an instrument. (2) “Represented person” means the principal, beneficiary, partnership, corporation,
or other person to whom the fiduciary duty with respect to an instrument referred
to in division (A)(1) of this section is owed. (B) If an instrument is taken from a fiduciary for payment or collection or for value,
the taker has knowledge of the fiduciary status of the fiduciary, and the represented
person makes a claim to the instrument or its proceeds on the basis that the transaction
of the fiduciary is a breach of fiduciary duty, all of the following rules apply: (1) Notice of breach of fiduciary duty by the fiduciary is notice of the claim of the
represented person. (2) In the case of an instrument payable to the represented person or to the fiduciary
as fiduciary of the represented person, the taker has notice of the breach of fiduciary
duty if any of the following apply: (a) The instrument is taken in payment of or as security for a debt known by the taker
to be the personal debt of the fiduciary. (b) The instrument is taken in a transaction known by the taker to be for the personal
benefit of the fiduciary. (c) The instrument is deposited to an account other than an account of the fiduciary
as fiduciary of the represented person or an account of the represented person. (3) If an instrument is issued by the represented person or by the fiduciary as fiduciary
of the represented person and is made payable to the fiduciary personally, the taker
does not have notice of the breach of fiduciary duty unless the taker knows of the
breach of fiduciary duty. (4) If an instrument is issued by the represented person or by the fiduciary of the represented
person to the taker as payee, the taker has notice of the breach of fiduciary duty
if any of the following apply: (a) The instrument is taken in payment of or as security for a debt known by the taker
to be the personal debt of the fiduciary. (b) The instrument is taken in a transaction known by the taker to be for the personal
benefit of the fiduciary. (c) The instrument is deposited to an account other than an account of the fiduciary
as fiduciary for the represented person or an account of the represented person.
Frequently Asked Questions About Ohio § 1303.37
What does Ohio Revised Code § 1303.37 cover?
Section 1303.37 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 1303.37?
A common citation format is "Ohio Revised Code § 1303.37" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1303.37 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.