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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1343.05 | Bona fide indorsee of negotiable paper purchased before due.

Ohio Revised Code
/
Title 13 Commercial Transactions
/
Chapter 1343 Interest
 
Effective:
July 1, 1962
Latest Legislation:
Senate Bill 5 - 104th General Assembly
PDF:
Download Authenticated PDF
 

No debtor is deemed a particeps criminis on account of having paid, or agreeing to pay, the exorbitant interest mentioned in section 1343.04 of the Revised Code, but he shall have like remedy and relief in either case. No bona fide indorsee of negotiable paper purchased before due, shall be affected by any usury exacted by any former holder of such paper, unless he has actual notice of the usury previous to his purchase. In such cases, the amount of such excess, if incorporated into negotiable paper, after payment, may be recovered back, by action against the party who originally exacted the usuary.

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