Ohio § 1309.621
Full text of Ohio Ohio Revised Code § 1309.621, with citation guidance and answers to common questions.
§ 1309.621.
(A) A secured party who desires to accept collateral in full or partial satisfaction
of the obligation it secures shall send its proposal to: (1) Any person from whom the secured party has received, before the debtor consented
to the acceptance, an authenticated notification of a claim of an interest in the
collateral; (2) Any other secured party or lienholder who, ten days before the debtor consented to
the acceptance, held a security interest in or other lien on the collateral perfected
by the filing of a financing statement that: (a) Identified the collateral; (b) Was indexed under the debtor's name as of that date; (c) Was filed in the office or offices in which to file a financing statement against
the debtor covering the collateral as of that date; and (3) Any other secured party who, ten days before the debtor consented to the acceptance,
held a security interest in the collateral perfected by compliance with a statute,
regulation, or treaty described in division (A) of section 1309.311 of the Revised Code . (B) A secured party who desires to accept collateral in partial satisfaction of the obligation
it secures shall send its proposal to any secondary obligor in addition to the persons
described in division (A) of this section.
Frequently Asked Questions About Ohio § 1309.621
What does Ohio Revised Code § 1309.621 cover?
Section 1309.621 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 § 1309.621?
A common citation format is "Ohio Revised Code § 1309.621" (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 § 1309.621 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.