Ohio § 1308.54
Full text of Ohio Ohio Revised Code § 1308.54, with citation guidance and answers to common questions.
§ 1308.54.
(A) A securities intermediary shall promptly obtain and thereafter maintain a financial
asset in a quantity corresponding to the aggregate of all security entitlements it
has established in favor of its entitlement holders with respect to that financial
asset. The securities intermediary may maintain those financial assets directly or through
one or more other securities intermediaries. (B) Except to the extent otherwise agreed by its entitlement holder, a securities intermediary
may not grant any security interests in a financial asset it is obligated to maintain
pursuant to division (A) of this section. (C) A securities intermediary satisfies the duty in division (A) of this section if: (1) The securities intermediary acts with respect to the duty as agreed upon by the entitlement
holder and the securities intermediary; or (2) In the absence of agreement, the securities intermediary exercises due care in accordance
with reasonable commercial standards to obtain and maintain the financial asset. (D) This section does not apply to a clearing corporation that is itself the obligor
of an option or similar obligation to which its entitlement holders have security
entitlements.
Frequently Asked Questions About Ohio § 1308.54
What does Ohio Revised Code § 1308.54 cover?
Section 1308.54 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 § 1308.54?
A common citation format is "Ohio Revised Code § 1308.54" (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 § 1308.54 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.