2006 Ohio Revised Code - 1303.31. (UCC 3-301) Person entitled to enforce instrument.

§ 1303.31. (UCC 3-301) Person entitled to enforce instrument.
 

(A)  "Person entitled to enforce" an instrument means any of the following persons: 

(1) The holder of the instrument; 

(2) A nonholder in possession of the instrument who has the rights of a holder; 

(3) A person not in possession of the instrument who is entitled to enforce the instrument pursuant to Section 1303.38 or division (D) of section 1303.58 of the Revised Code. 

(B)  A person may be a "person entitled to enforce" the instrument even though the person is not the owner of the instrument or is in wrongful possession of the instrument. 
 

HISTORY: 145 v S 147. Eff 8-19-94.
 

Not analogous to former RC § 1303.31 (129 v S 5), repealed 145 v S 147, § 2, eff 8-19-94.

See now RC § 1303.32.

 

Official Comment

This section replaces former section 3-301 that stated the rights of a holder.  The rights stated in former section 3-301 to transfer, negotiate, enforce, or discharge an instrument are stated in other sections of article 3.  In revised article 3, section 3-301 defines "person entitled to enforce" an instrument.  The definition recognizes that enforcement is not limited to holders.  The quoted phrase includes a person enforcing a lost or stolen instrument. Section 3-309.  It also includes a person in possession of an instrument who is not the holder.  A nonholder in possession of an instrument includes a person that acquired rights of a holder by subrogation or under section 3-203(a).  It also includes any other person who under applicable law is a successor to the holder or otherwise acquires the holder's rights.