Ohio Code § 1308.54
Ohio Code § 1308.54. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1308.54.
(A) A securities intermediary shall promptly obtain and thereafter maintain a financial
asset in a quantity corresponding to the aggregate of all security entitlements it
has established in favor of its entitlement holders with respect to that financial
asset. The securities intermediary may maintain those financial assets directly or through
one or more other securities intermediaries. (B) Except to the extent otherwise agreed by its entitlement holder, a securities intermediary
may not grant any security interests in a financial asset it is obligated to maintain
pursuant to division (A) of this section. (C) A securities intermediary satisfies the duty in division (A) of this section if: (1) The securities intermediary acts with respect to the duty as agreed upon by the entitlement
holder and the securities intermediary; or (2) In the absence of agreement, the securities intermediary exercises due care in accordance
with reasonable commercial standards to obtain and maintain the financial asset. (D) This section does not apply to a clearing corporation that is itself the obligor
of an option or similar obligation to which its entitlement holders have security
entitlements.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1308.54
- 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 § 1308.54?
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 § 1308.54 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 § 1308.54 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Statutes are amended, repealed, and renumbered every session.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.