Ohio § 1109.75
Full text of Ohio Ohio Revised Code § 1109.75, with citation guidance and answers to common questions.
§ 1109.75.
(A) Notwithstanding any other provision of law, to the extent set forth in the transaction
documents relating to a securitization: (1) Any property, assets, or rights purported to be transferred, in whole or in part,
in a securitization shall be deemed to no longer be the property, assets, or rights
of the transferor. (2) A transferor in a securitization, the transferor's creditors, or a bankruptcy trustee,
receiver, or similar person in an insolvency proceeding involving the transferor shall
have no rights whatsoever to reacquire, reclaim, recover, redeem, or recharacterize
as property of the transferor any property, assets, or rights purported to be transferred,
in whole or in part, by the transferor. (3) In the event of the transferor's bankruptcy, receivership, or other insolvency proceedings,
the property, assets, or rights purported to have been transferred by the transferor,
in whole or in part, in a securitization shall not be deemed to be part of the transferor's
property, assets, rights, or estate. (B) Nothing contained in this section shall be deemed to require any securitization transaction
to be treated as a sale for federal or state tax purposes or to preclude the treatment
of any securitization transaction as a debt for federal or state tax purposes. (C) As used in this section, “ securitization ” means a transfer of financial assets by a financial institution insured by the federal
deposit insurance corporation (FDIC) to a special purpose entity established to issue
securities supported by the financial assets to investors.
Frequently Asked Questions About Ohio § 1109.75
What does Ohio Revised Code § 1109.75 cover?
Section 1109.75 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 § 1109.75?
A common citation format is "Ohio Revised Code § 1109.75" (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 § 1109.75 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.