Section 1353.03 | Effect on Security Interests – Provisions Are Supplemental to Agreement.
Effective: June 29, 1988 Latest Legislation: Senate Bill 157 – 117th General Assembly (A) This chapter does not affect any security interest which any person, financial institution, or supplier has in the inventory of the dealer or affect a supplier’s right to charge back to a dealer’s account amounts previously paid or credited as a […]
Section 1353.04 | Compelling Repurchase.
Effective: June 29, 1988 Latest Legislation: Senate Bill 157 – 117th General Assembly If a supplier fails to repurchase any inventory as required by section 1353.02 of the Revised Code, the dealer may bring a civil action to compel repurchase. If the court finds in favor of the dealer, the court shall order the supplier […]
Section 1353.05 | Contracts Prior to Date of Chapter.
Effective: June 29, 1988 Latest Legislation: Senate Bill 157 – 117th General Assembly This chapter does not apply to any contract entered into before the effective date of this chapter unless it is a continuing contract that has no expiration date.
Section 1353.06 | Cause for Termination.
Effective: October 26, 2001 Latest Legislation: House Bill 200 – 124th General Assembly (A)(1) No supplier, without good cause, shall terminate, fail to renew, or substantially alter the competitive circumstances of a dealer agreement that is entered into by the supplier and a dealer on or after the effective date of this section or that […]
Section 1354.01 | Definitions.
Effective: April 5, 2019 Latest Legislation: House Bill 66 – 132nd General Assembly As used in this chapter: (A) “Business” means any limited liability company, limited liability partnership, corporation, sole proprietorship, association, state institution of higher education as defined in section 3345.011 of the Revised Code, private college as defined in section 3365.01 of the […]
Section 1351.01 | Lease-Purchase Agreement Definitions.
Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly As used in this chapter: (A) “Advertisement” means any written, visual, or oral communication made to a lessee or prospective lessee by means of personal representation, newspaper, magazine, circular, billboard, direct mailing, sign, radio, television, telephone, or other means of communication, that […]
Section 1351.02 | Disclosures Required in Connection With Lease-Purchase Agreement.
Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly (A) A lessor shall disclose all of the following in a clear and conspicuous manner: (1) A brief description of the leased property, sufficient to identify the property to the lessee and lessor and a statement as to whether the property is […]
Section 1351.03 | Provisions Prohibited in Lease-Purchase Agreement.
Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly (A) A lease-purchase agreement shall not contain a provision that requires a lessee to do any of the following: (1) Execute a warrant of attorney to confess judgment; (2) Authorize the lessor or an agent of the lessor to commit a breach […]
Section 1351.04 | Terms That May Not Be Required.
Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly A lessor shall not require any of the following from a lessee: (A) The purchase of insurance from the lessor for property that is the subject of a lease-purchase agreement; (B) Any payment in addition to the number of lease payments specified […]
Section 1351.05 | Reinstatement of Agreement After Default.
Effective: June 20, 1988 Latest Legislation: House Bill 421 – 117th General Assembly (A) A lessee who fails to make timely lease payments has the right to reinstate the original lease-purchase agreement without losing any rights or options previously acquired under the lease-purchase agreement within three lease terms after the expiration of the last lease […]