Ohio Code § 1309.621
Ohio Code § 1309.621. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1309.621.
(A) A secured party who desires to accept collateral in full or partial satisfaction
of the obligation it secures shall send its proposal to: (1) Any person from whom the secured party has received, before the debtor consented
to the acceptance, an authenticated notification of a claim of an interest in the
collateral; (2) Any other secured party or lienholder who, ten days before the debtor consented to
the acceptance, held a security interest in or other lien on the collateral perfected
by the filing of a financing statement that: (a) Identified the collateral; (b) Was indexed under the debtor's name as of that date; (c) Was filed in the office or offices in which to file a financing statement against
the debtor covering the collateral as of that date; and (3) Any other secured party who, ten days before the debtor consented to the acceptance,
held a security interest in the collateral perfected by compliance with a statute,
regulation, or treaty described in division (A) of section 1309.311 of the Revised Code . (B) A secured party who desires to accept collateral in partial satisfaction of the obligation
it secures shall send its proposal to any secondary obligor in addition to the persons
described in division (A) of this section.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1309.621
- 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 § 1309.621?
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 § 1309.621 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 § 1309.621 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Statutes are amended, repealed, and renumbered every session.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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