Ohio § 1707.42
Full text of Ohio Ohio Revised Code § 1707.42, with citation guidance and answers to common questions.
§ 1707.42.
(A) Whoever, with intent to secure financial gain to self, advises and procures any person
to purchase any security, and receives any commission or reward for the advice or
services without disclosing to the purchaser the fact of the person's agency or interest
in such sales, shall be liable to the purchaser for the amount of the purchaser's
damage thereby, upon tender of the security to, and suit brought against, the adviser,
by the purchaser. No suit shall be brought more than one year subsequent to the purchase. (B) Whoever acts as an investment adviser or investment adviser representative in violation
of Chapter 1707. of the Revised Code shall be liable for damages resulting from the
violation in an action at law in a court of competent jurisdiction. Damages may include consideration paid for the advice, any loss due to the advice,
and all court costs, less the amount of any income received from the advice. No person may bring an action under this division more than five years after the
rendering of investment advice or two years after discovery of facts constituting
the violation, whichever is the shorter period.
Frequently Asked Questions About Ohio § 1707.42
What does Ohio Revised Code § 1707.42 cover?
Section 1707.42 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 § 1707.42?
A common citation format is "Ohio Revised Code § 1707.42" (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 § 1707.42 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.