Effective: July 1, 2001 Latest Legislation: Senate Bill 74 - 124th General Assembly (A) Except as otherwise provided in division (B) of this section, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if: (1) The debtor acquired the collateral subject to the security interest created by the other person; (2) The security interest created by the other person was perfected when the debtor acquired the collateral; and (3) There is no period thereafter when the security interest is unperfected. (B) Division (A) of this section subordinates a security interest only if the security interest: (1) Otherwise would have priority solely under division (A) of section 1309.322 or section 1309.324 of the Revised Code; or (2) Arose solely under division (C) of section 1302.85 or division (E) of section 1310.54 of the Revised Code.
‹ Prev All Ohio sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.