Ohio Code § 1304.11

§ 1304.11.

(A) Unless a contrary intent clearly appears and prior to the time that a settlement

given by a collecting bank for an item is or becomes final, the bank with respect

to the item is an agent or subagent of the owner of the item, and any settlement given

for the item is provisional.  This provision applies regardless of the form of indorsement or lack of indorsement

and even though credit given for the item is subject to immediate withdrawal as of

right or is in fact withdrawn.  The continuance of ownership of an item by its owner and any rights of the owner

to proceeds of the item are subject to rights of a collecting bank such as those resulting

from outstanding advances on the item and rights of recoupment or setoff.  If an item is handled by banks for purposes of presentment, payment, collection,

or return, the relevant provisions of sections 1304.01 to 1304.40 of the Revised Code apply even though action of the parties clearly establishes that a particular bank

has purchased the item and is the owner of it. (B) After an item has been indorsed with the words “pay any bank” or the like, only a

bank may acquire the rights of a holder until one of the following occurs: (1) The item has been returned to the customer initiating collection. (2) The item has been specially indorsed by a bank to a person who is not a bank.