Ohio Code § 1707.42
Ohio Code § 1707.42. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1707.42.
(A) Whoever, with intent to secure financial gain to self, advises and procures any person
to purchase any security, and receives any commission or reward for the advice or
services without disclosing to the purchaser the fact of the person's agency or interest
in such sales, shall be liable to the purchaser for the amount of the purchaser's
damage thereby, upon tender of the security to, and suit brought against, the adviser,
by the purchaser. No suit shall be brought more than one year subsequent to the purchase. (B) Whoever acts as an investment adviser or investment adviser representative in violation
of Chapter 1707. of the Revised Code shall be liable for damages resulting from the
violation in an action at law in a court of competent jurisdiction. Damages may include consideration paid for the advice, any loss due to the advice,
and all court costs, less the amount of any income received from the advice. No person may bring an action under this division more than five years after the
rendering of investment advice or two years after discovery of facts constituting
the violation, whichever is the shorter period.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1707.42
- 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 § 1707.42?
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 § 1707.42 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 § 1707.42 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Statutes are amended, repealed, and renumbered every session.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.