Ohio § 1305.18
Full text of Ohio Ohio Revised Code § 1305.18, with citation guidance and answers to common questions.
§ 1305.18.
(A) An issuer or nominated person has a security interest in a document presented under
a letter of credit to the extent that the issuer or nominated person honors or gives
value for the presentation. (B) So long as and to the extent that an issuer or nominated person has not been reimbursed
or has not otherwise recovered the value given with respect to a security interest
in a document under division (A) of this section, the security interest continues
and is subject to Chapter 1309. of the Revised Code, but: (1) A security agreement is not necessary to make the security interest enforceable under division (B)(3) of section 1309.203 of the Revised Code ; (2) If the document is presented in a medium other than a written or other tangible medium,
the security interest is perfected; and (3) If the document is presented in a written or other tangible medium and is not a certificated
security, chattel paper, a document of title, an instrument, or a letter of credit,
the security interest is perfected and has priority over a conflicting security interest
in the document so long as the debtor does not have possession of the document.
Frequently Asked Questions About Ohio § 1305.18
What does Ohio Revised Code § 1305.18 cover?
Section 1305.18 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 § 1305.18?
A common citation format is "Ohio Revised Code § 1305.18" (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 § 1305.18 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.