Ohio Code § 1305.18
Ohio Code § 1305.18. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1305.18.
(A) An issuer or nominated person has a security interest in a document presented under
a letter of credit to the extent that the issuer or nominated person honors or gives
value for the presentation. (B) So long as and to the extent that an issuer or nominated person has not been reimbursed
or has not otherwise recovered the value given with respect to a security interest
in a document under division (A) of this section, the security interest continues
and is subject to Chapter 1309. of the Revised Code, but: (1) A security agreement is not necessary to make the security interest enforceable under division (B)(3) of section 1309.203 of the Revised Code ; (2) If the document is presented in a medium other than a written or other tangible medium,
the security interest is perfected; and (3) If the document is presented in a written or other tangible medium and is not a certificated
security, chattel paper, a document of title, an instrument, or a letter of credit,
the security interest is perfected and has priority over a conflicting security interest
in the document so long as the debtor does not have possession of the document.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1305.18
- 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
What is the source of Ohio Revised Code § 1305.18?
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 § 1305.18 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 § 1305.18 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Statutes are amended, repealed, and renumbered every session.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.
Can this page be used as legal advice?
No. This is a reference transcription for research. Applying Ohio law to your facts requires a licensed Ohio attorney who can review the specifics.