Ohio Code § 1305.12
Ohio Code § 1305.12. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1305.12.
(A) A successor of a beneficiary may consent to amendments, sign and present documents,
and receive payment or other items of value in the name of the beneficiary without
disclosing its status as a successor. (B) A successor of a beneficiary may consent to amendments, sign and present documents,
and receive payment or other items of value in its own name as the disclosed successor
of the beneficiary. Except as otherwise provided in division (E) of this section, an issuer shall recognize
a disclosed successor of a beneficiary as beneficiary in full substitution for its
predecessor upon compliance with the requirements for recognition by the issuer of
a transfer of drawing rights by operation of law under the standard practice referred
to in division (E) of section 1305.07 of the Revised Code or, in the absence of such a practice, compliance with other reasonable procedures
sufficient to protect the issuer. (C) An issuer is not obliged to determine whether a purported successor is a successor
of a beneficiary or whether the signature of a purported successor is genuine or authorized. (D) Honor of a purported successor's apparently complying presentation under division
(A) or (B) of this section has the consequences specified in division (I) of section 1305.07 of the Revised Code even if the purported successor is not the successor of a beneficiary. Documents signed in the name of the beneficiary or of a disclosed successor by a
person who is neither the beneficiary nor the successor of the beneficiary are forged
documents for the purposes of section 1305.08 of the Revised Code . (E) An issuer whose rights of reimbursement are not covered by division (D) of this section
or substantially similar law and any confirmer or nominated person may decline to
recognize a presentation under division (B) of this section. (F) A beneficiary whose name is changed after the issuance of a letter of credit has
the same rights and obligations as a successor of a beneficiary under this section.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1305.12
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Ohio Revised Code. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Ohio attorney.
Common questions
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The text above is transcribed from the Ohio Revised Code, the codified statutes of Ohio. The official publisher link appears under "Verify the text" on this page.
What subject does Ohio Revised Code § 1305.12 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Ohio Revised Code § 1305.12 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Ohio source before relying on this text.
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