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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 1353.03 | Effect on security interests - provisions are supplemental to agreement.

Ohio Revised Code
/
Title 13 Commercial Transactions
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Chapter 1353 Farm Machinery Or Construction Equipment Dealers And Suppliers
 
Effective:
June 29, 1988
Latest Legislation:
Senate Bill 157 - 117th General Assembly
PDF:
Download Authenticated PDF
 

(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 discount incident to the dealer's purchase of the repurchased inventory.

(B) The provisions of this chapter are supplemental to any agreement between the dealer and the supplier governing the return of inventory pursuant to a termination of the dealer agreement. A dealer to whom this chapter applies may elect to pursue either a contract remedy or to enforce a repurchase of inventory under this chapter. An election by the dealer to pursue a contract remedy does not bar the right of the dealer to demand the repurchase under this chapter of inventory not affected by the contract remedy.

Available Versions of this Section