Ohio § 1309.407
Full text of Ohio Ohio Revised Code § 1309.407, with citation guidance and answers to common questions.
§ 1309.407.
(A) Except as otherwise provided in division (B) of this section, a term in a lease agreement
is not effective to the extent that it: (1) Prohibits, restricts, or requires the consent of a party to the lease to the assignment
or transfer of, or the creation, attachment, perfection, or enforcement of a security
interest in, an interest of a party under the lease contract or in the lessor's residual
interest in the goods; or (2) Provides that the assignment or transfer or the creation, attachment, perfection,
or enforcement of the security interest may give rise to a default, breach, right
of recoupment, claim, defense, termination, right of termination, or remedy under
the lease. (B) Except as otherwise provided in division (G) of section 1310.31 of the Revised Code , a term in a lease agreement described in division (A)(2) of this section is effective
to the extent that there is: (1) A transfer by the lessee of the lessee's right of possession or use of the goods
in violation of the term; or (2) A delegation of a material performance of either party to the lease contract in violation
of the term. (C) The creation, attachment, perfection, or enforcement of a security interest in the
lessor's interest under the lease contract or the lessor's residual interest in the
goods is not a transfer that materially impairs the lessee's prospect of obtaining
return performance or materially changes the duty of or materially increases the burden
or risk imposed on the lessee within the scope of division (D) of section 1310.31 of the Revised Code unless, and then only to the extent that, enforcement actually results in a delegation
of material performance of the lessor.
Frequently Asked Questions About Ohio § 1309.407
What does Ohio Revised Code § 1309.407 cover?
Section 1309.407 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 § 1309.407?
A common citation format is "Ohio Revised Code § 1309.407" (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 § 1309.407 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.