Ohio § 1304.59
Full text of Ohio Ohio Revised Code § 1304.59, with citation guidance and answers to common questions.
§ 1304.59.
(A) If a receiving bank accepts a payment order issued in the name of its customer as
sender which is not authorized and not effective as the order of the customer under section 1304.57 of the Revised Code , or not enforceable, in whole or in part, against the customer under section 1304.58 of the Revised Code , the bank shall refund any payment of the payment order received from the customer
to the extent the bank is not entitled to enforce payment and shall pay interest on
the refundable amount calculated from the date the bank received payment to the date
of the refund. The customer is not entitled to interest from the bank on the amount to be refunded
if the customer fails to exercise ordinary care to determine that the order was not
authorized by the customer and to notify the bank of the relevant facts within a reasonable
time not exceeding ninety days after the date the customer received notification from
the bank that the order was accepted or that the customer's account was debited with
respect to the order. The bank is not entitled to any recovery from the customer on account of a failure
by the customer to give notification as stated in this section. (B) Reasonable time under division (A) of this section may be fixed by agreement as provided
in division (B) of section 1301.302 of the Revised Code , but the obligation of a receiving bank to refund payment as provided in division
(A) of this section may not otherwise be varied by agreement.
Frequently Asked Questions About Ohio § 1304.59
What does Ohio Revised Code § 1304.59 cover?
Section 1304.59 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 § 1304.59?
A common citation format is "Ohio Revised Code § 1304.59" (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 § 1304.59 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.