Ohio § 4707.261
Full text of Ohio Ohio Revised Code § 4707.261, with citation guidance and answers to common questions.
§ 4707.261.
A person who obtains a final judgment in a court of competent jurisdiction against
a person licensed under this chapter, on the grounds of conduct by the licensee that
is described in section 4707.15 of the Revised Code or that otherwise violates this chapter or rules adopted under it and that is associated
with an act or transaction that only a licensee lawfully may perform, may file a verified
application in a court of common pleas for an order directing payment from the auction
recovery fund. The application shall be accompanied by the judgment entry and may seek payment
in an amount that is equal to the portion of the judgment that remains unpaid. The application shall specify the nature of the act or transaction on which the underlying
judgment was based, the activities of the applicant in pursuit of remedies available
under the law for the collection of judgments, and the actual and direct losses sustained
by the applicant. The applicant shall attach to the application a copy of each pleading and order
in the underlying court action. In addition, the application shall include proof of the applicant's actual and direct
loss. Whenever possible, the court shall require all applicants and prospective applicants
whose claims to the fund arose from an underlying judgment against the same licensee
to be joined in one action under this section so that the rights of all applicants
may be equitably adjudicated and settled.
Frequently Asked Questions About Ohio § 4707.261
What does Ohio Revised Code § 4707.261 cover?
Section 4707.261 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 § 4707.261?
A common citation format is "Ohio Revised Code § 4707.261" (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 § 4707.261 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.