Ohio § 1308.40
Full text of Ohio Ohio Revised Code § 1308.40, with citation guidance and answers to common questions.
§ 1308.40.
(A) Except as otherwise provided in section 1308.41 of the Revised Code . An issuer is liable for wrongful registration of transfer if the issuer has registered
a transfer of a security to a person not entitled to it, and the transfer was registered: (1) Pursuant to an ineffective indorsement or instruction; (2) After a demand that the issuer not register transfer became effective under division (A) of section 1308.39 of the Revised Code and the issuer did not comply with division (B) of that section; (3) After the issuer had been served with an injunction, restraining order, or other
legal process enjoining it from registering the transfer, issued by a court of competent
jurisdiction, and the issuer had a reasonable opportunity to act on the injunction,
restraining order, or other legal process; or (4) By an issuer acting in collusion with the wrongdoer. (B) An issuer that is liable for wrongful registration of transfer under division (A)
of this section on demand shall provide the person entitled to the security with a
like certificated or uncertificated security, and any payments or distributions that
the person did not receive as a result of the wrongful registration. If an overissue would result, the issuer's liability to provide the person with
a like security is governed by section 1308.03 of the Revised Code . (C) Except as otherwise provided in division (A) of this section or in a law relating
to the collection of taxes, an issuer is not liable to an owner or other person suffering
loss as a result of the registration of a transfer of a security if registration was
made pursuant to an effective indorsement or instruction.
Frequently Asked Questions About Ohio § 1308.40
What does Ohio Revised Code § 1308.40 cover?
Section 1308.40 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 § 1308.40?
A common citation format is "Ohio Revised Code § 1308.40" (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 § 1308.40 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.