Ohio § 1308.29
Full text of Ohio Ohio Revised Code § 1308.29, with citation guidance and answers to common questions.
§ 1308.29.
(A) Unless otherwise agreed, if a sale of a security is made on an exchange or otherwise
through brokers: (1) The selling customer fulfills his duty to transfer at the time he: (a) Places a certificated security in the possession of the selling broker or of a person
designated by the broker; (b) Causes an uncertificated security to be registered in the name of the selling broker
or a person designated by the broker; (c) If requested, causes an acknowledgment to be made to the selling broker that a certificated
or uncertificated security is held for the broker; or (d) Places in the possession of the selling broker or of a person designated by the broker
a transfer instruction for an uncertificated security, providing the issuer does not
refuse to register the requested transfer if the instruction is presented to the issuer
for registration within thirty days thereafter; and (2) The selling broker, including a correspondent broker acting for a selling customer,
fulfills his duty to transfer at the time he: (a) Places a certificated security in the possession of the buying broker or a person
designated by the buying broker; (b) Causes an uncertificated security to be registered in the name of the buying broker
or a person designated by the buying broker; (c) Places in the possession of the buying broker or of a person designated by the buying
broker a transfer instruction for an uncertificated security, providing the issuer
does not refuse to register the requested transfer if the instruction is presented
to the issuer for registration within thirty days thereafter; or (d) Effects clearance of the sale in accordance with the rules of the exchange on which
the transaction took place. (B) Except as provided in this section and unless otherwise agreed, a transferor's duty
to transfer a security under a contract of purchase is not fulfilled until he: (1) Places a certificated security in form to be negotiated by the purchaser in the possession
of the purchaser or of a person designated 1 the purchaser; (2) Causes an uncertificated security to be registered in the name of the purchaser or
a person designated by the purchaser; or (3) If the purchaser requests, causes an acknowledgment to be made to the purchaser that
a certificated or uncertificated security is held for the purchaser. (C) Unless made on an exchange, a sale to a broker purchasing for his own account is
within division (B) of this section and not within division (A) of this section. 1
Prior and current versions differ; although no amendment to this language was indicated
in 1984 S 283, “designated” appeared as “designated by” in former 1308.25 as enacted
by 129 v 13.
Frequently Asked Questions About Ohio § 1308.29
What does Ohio Revised Code § 1308.29 cover?
Section 1308.29 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 § 1308.29?
A common citation format is "Ohio Revised Code § 1308.29" (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 § 1308.29 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.