Ohio § 1308.60

§ 1308.60.

(A) In a case not covered by the priority rules in Chapter 1309. of the Revised Code

or the rules stated in division (C) of this section, an action based on an adverse

claim to a financial asset or security entitlement, whether framed in conversion,

replevin, constructive trust, equitable lien, or other theory, may not be asserted

against a person who purchases a security entitlement, or an interest in a security

entitlement, from an entitlement holder if the purchaser gives value, does not have

notice of the adverse claim, and obtains control. (B) If an adverse claim could not have been asserted against an entitlement holder under section 1308.52 of the Revised Code , the adverse claim cannot be asserted against a person who purchases a security entitlement,

or an interest in a security entitlement, from the entitlement holder. (C) In a case not covered by the priority rules in Chapter 1309. of the Revised Code,

a purchaser for value of a security entitlement, or an interest in a security entitlement,

who obtains control has priority over a purchaser of a security entitlement, or an

interest in a security entitlement, who does not obtain control.  Except as otherwise provided in division (D) of this section, purchasers who have

control rank according to priority in time of: (1) The purchaser's becoming the person for whom the securities account, in which the

security entitlement is carried, is maintained, if the purchaser obtained control

under division (D)(1) of section 1308.24 of the Revised Code ; (2) The securities intermediary's agreement to comply with the purchaser's entitlement

orders with respect to security entitlements carried or to be carried in the securities

account in which the security entitlement is carried, if the purchaser obtained control

under division (D)(2) of section 1308.24 of the Revised Code ;  or (3) If the purchaser obtained control through another person under division (D)(3) of section 1308.24 of the Revised Code , the time on which priority would be based under division (C) of this section if

the other person were the secured party. (D) A securities intermediary as purchaser has priority over a conflicting purchaser

who has control unless otherwise agreed by the securities intermediary.