Ohio Code § 1308.40
Ohio Code § 1308.40. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1308.40.
(A) Except as otherwise provided in section 1308.41 of the Revised Code . An issuer is liable for wrongful registration of transfer if the issuer has registered
a transfer of a security to a person not entitled to it, and the transfer was registered: (1) Pursuant to an ineffective indorsement or instruction; (2) After a demand that the issuer not register transfer became effective under division (A) of section 1308.39 of the Revised Code and the issuer did not comply with division (B) of that section; (3) After the issuer had been served with an injunction, restraining order, or other
legal process enjoining it from registering the transfer, issued by a court of competent
jurisdiction, and the issuer had a reasonable opportunity to act on the injunction,
restraining order, or other legal process; or (4) By an issuer acting in collusion with the wrongdoer. (B) An issuer that is liable for wrongful registration of transfer under division (A)
of this section on demand shall provide the person entitled to the security with a
like certificated or uncertificated security, and any payments or distributions that
the person did not receive as a result of the wrongful registration. If an overissue would result, the issuer's liability to provide the person with
a like security is governed by section 1308.03 of the Revised Code . (C) Except as otherwise provided in division (A) of this section or in a law relating
to the collection of taxes, an issuer is not liable to an owner or other person suffering
loss as a result of the registration of a transfer of a security if registration was
made pursuant to an effective indorsement or instruction.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1308.40
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
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Statute text is transcribed from the official Ohio Revised Code. Confirm it against the primary source before relying on it:
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Common questions
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