Ohio § 1309.323

Full text of Ohio Ohio Revised Code § 1309.323, with citation guidance and answers to common questions.

§ 1309.323.

(A) Except as otherwise provided in division (C) of this section, for purposes of determining

the priority of a perfected security interest under division (A)(1) of section 1309.322 of the Revised Code , perfection of the security interest dates from the time an advance is made to the

extent that the security interest secures an advance that: (1) Is made while the security interest is perfected only: (a) Under section 1309.309 of the Revised Code when it attaches;  or (b) Temporarily under division (E) , (F) , or (G) of section 1309.312 of the Revised Code . (2) Is not made pursuant to a commitment entered into before or while the security interest

is perfected by a method other than under section 1309.309 or division (E), (F) , or (G) of section 1309.312 of the Revised Code . (B) Except as otherwise provided in division (C) of this section, a security interest

is subordinate to the rights of a person that becomes a lien creditor to the extent

that the security interest secures advances made more than forty-five days after the

person becomes a lien creditor unless the advance is made: (1) Without knowledge of the lien;  or (2) Pursuant to a commitment entered into without knowledge of the lien. (C) Divisions (A) and (B) of this section do not apply to a security interest held by

a secured party that is a buyer of accounts, chattel paper, payment intangibles, or

promissory notes or a consignor. (D) Except as otherwise provided in division (E) of this section, a buyer of goods other

than a buyer in ordinary course of business takes free of a security interest to the

extent that it secures advances made after the earlier of: (1) The time the secured party acquires knowledge of the buyer's purchase;  or (2) Forty-five days after the purchase. (E) Division (D) of this section does not apply if the advance is made pursuant to a

commitment entered into without knowledge of the buyer's purchase and before the expiration

of the forty-five-day period. (F) Except as otherwise provided in division (G) of this section, a lessee of goods,

other than a lessee in ordinary course of business, takes the leasehold interest free

of a security interest to the extent that it secures advances made after the earlier

of: (1) The time the secured party acquires knowledge of the lease;  or (2) Forty-five days after the lease contract becomes enforceable. (G) Division (F) of this section does not apply if the advance is made pursuant to a

commitment entered into without knowledge of the lease and before the expiration of

the forty-five-day period.

Frequently Asked Questions About Ohio § 1309.323

What does Ohio Revised Code § 1309.323 cover?

Section 1309.323 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 § 1309.323?

A common citation format is "Ohio Revised Code § 1309.323" (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 § 1309.323 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.