Ohio Code § 1309.306

§ 1309.306.

(A) Subject to division (C) of this section, the local law of the issuer's jurisdiction

or a nominated person's jurisdiction governs perfection, the effect of perfection

or nonperfection, and the priority of a security interest in a letter-of-credit right

if the issuer's jurisdiction or nominated person's jurisdiction is a state. (B) For purposes of sections 1309.301 to 1309.342 of the Revised Code , an issuer's jurisdiction or nominated person's jurisdiction is the jurisdiction

whose law governs the liability of the issuer or nominated person with respect to

the letter-of-credit right as provided in section 1305.15 of the Revised Code . (C) This section does not apply to a security interest that is perfected only under division (D) of section 1309.308 of the Revised Code .