Ohio Code § 1345.421
Ohio Code § 1345.421. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1345.421.
If the facility that is the subject of the contract is under construction, and is
not available for service at the time the buyer signs the contract, the seller shall
maintain a surety bond issued by a surety company authorized to do business in this
state the principal sum of which shall be a minimum of ten thousand dollars. The seller is relieved from the obligation to maintain the bond twenty-four months
after completion of the facility and commencement of service. The bond shall be in favor of the state of Ohio for the benefit of any person injured
by having paid moneys for the use of a facility which fails to open within one hundred
eighty days after the date upon which the buyer and seller entered into a contract,
or closes within twenty-four months after completion of a facility and commencement
of service. However, the aggregate liability of the surety to all persons for all breaches of
the conditions of the bond provided herein shall in no event exceed the amount of
the bond. Evidence of the bond shall be available for inspection upon request by the office
of the attorney general, current contract holders, or prospective buyers.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1345.421
- 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 § 1345.421?
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 § 1345.421 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 § 1345.421 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Statutes are amended, repealed, and renumbered every session.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.