Ohio § 1309.626
Full text of Ohio Ohio Revised Code § 1309.626, with citation guidance and answers to common questions.
§ 1309.626.
In an action arising from a transaction in which the amount of a deficiency or surplus
is in issue, the following rules apply: (A) A secured party is not required to prove compliance with sections 1309.601 to 1309.628 of the Revised Code relating to collection, enforcement, disposition, or acceptance unless the debtor
or a secondary obligor places the secured party's compliance in issue. (B) If the secured party's compliance is placed in issue, the secured party has the burden
of establishing that the collection, enforcement, disposition, or acceptance was conducted
in accordance with sections 1309.601 to 1309.628 of the Revised Code . (C) Except as provided in section 1309.628 of the Revised Code , if a secured party fails to prove that the collection, enforcement, disposition,
or acceptance was conducted in accordance with sections 1309.601 to 1309.628 of the Revised Code relating to collection, enforcement, disposition, or acceptance, the liability of
a debtor or a secondary obligor for a deficiency is limited to an amount by which
the sum of the secured obligation, expenses, and attorney's fees exceeds the greater
of: (1) The proceeds of the collection, enforcement, disposition, or acceptance; or (2) The amount of proceeds that would have been realized had the noncomplying secured
party proceeded in accordance with sections 1309.601 to 1309.628 of the Revised Code relating to collection, enforcement, disposition, or acceptance. (D) For purposes of division (C)(2) of this section, the amount of proceeds that would
have been realized is equal to the sum of the secured obligation, expenses, and attorney's
fees unless the secured party proves that the amount is less than that sum. (E) If a deficiency or surplus is calculated under division (F) of section 1309.615 of the Revised Code , the debtor or obligor has the burden of establishing that the amount of proceeds
of the disposition is significantly below the range of prices that a complying disposition
to a person other than the secured party, a person related to the secured party, or
a secondary obligor would have brought.
Frequently Asked Questions About Ohio § 1309.626
What does Ohio Revised Code § 1309.626 cover?
Section 1309.626 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 § 1309.626?
A common citation format is "Ohio Revised Code § 1309.626" (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 § 1309.626 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.