Ohio § 1303.55
Full text of Ohio Ohio Revised Code § 1303.55, with citation guidance and answers to common questions.
§ 1303.55.
(A) Subject to divisions (B), (C), (D), and (E) of this section and to division (D) of section 1303.59 of the Revised Code , if an instrument is dishonored, an indorser is obliged to pay the amount due on
the instrument according to the terms of the instrument at the time it was indorsed,
or, if the indorser indorsed an incomplete instrument, according to its terms when
completed, to the extent required by sections 1303.11 and 1303.50 of the Revised Code . The obligation of the indorser is owed to a person entitled to enforce the instrument
or to a subsequent indorser who paid the instrument under this section. (B) If an indorsement states that it is made “without recourse” or otherwise disclaims
liability of the indorser, the indorser is not liable under division (A) of this section
to pay the instrument. (C) If notice of dishonor of an instrument is required by section 1303.63 of the Revised Code and notice of dishonor complying with that section is not given to an indorser, the
liability of the indorser under division (A) of this section is discharged. (D) If a draft is accepted by a bank after an indorsement is made, the liability of the
indorser under division (A) of this section is discharged. (E) If an indorser of a check is liable under division (A) of this section and the check
is not presented for payment, or given to a depositary bank for collection, within
thirty days after the day the indorsement was made, the liability of the indorser
under division (A) of this section is discharged.
Frequently Asked Questions About Ohio § 1303.55
What does Ohio Revised Code § 1303.55 cover?
Section 1303.55 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 § 1303.55?
A common citation format is "Ohio Revised Code § 1303.55" (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 § 1303.55 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.