Ohio § 1707.43

§ 1707.43.

(A) Subject to divisions (B) and (C) of this section, every sale or contract for sale

made in violation of Chapter 1707. of the Revised Code, is voidable at the election

of the purchaser.  The person making such sale or contract for sale, and every person that has participated

in or aided the seller in any way in making such sale or contract for sale, are jointly

and severally liable to the purchaser, in an action at law in any court of competent

jurisdiction, upon tender to the seller of the securities sold or of the contract

made, for the full amount paid by the purchaser and for all taxable court costs, unless

the court determines that the violation did not materially affect the protection contemplated

by the violated provision. (B) No action for the recovery of the purchase price as provided for in this section,

and no other action for any recovery based upon or arising out of a sale or contract

for sale made in violation of Chapter 1707. of the Revised Code, shall be brought

more than two years after the plaintiff knew, or had reason to know, of the facts

by reason of which the actions of the person or director were unlawful, or more than

five years from the date of such sale or contract for sale, whichever is the shorter

period. (C) No purchaser is entitled to the benefit of this section who has failed to accept,

within thirty days from the date of such offer, an offer in writing made after two

weeks from the date of the sale or contract of sale, by the seller or by any person

that has participated in or aided the seller in any way in making the sale or contract

of sale, to take back the security in question and to refund the full amount paid

by the purchaser.