Ohio Rev. Code § 1319.08

Current with legislation from 2024 received as of August 15, 2024.
Section 1319.08 - Use of postclosing solvency covenant
(A) A postclosing solvency covenant shall not be used, directly or indirectly, as a nonrecourse carveout or as the basis for any claim or action against a borrower or any guarantor or other surety on a nonrecourse loan.
(B) A provision in the documents for a nonrecourse loan that does not comply with division (A) of this section is invalid and unenforceable.

R.C. § 1319.08

Added by 129th General Assembly, HB 479, §1, eff. 3/27/2013.