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2022 Ohio Revised Code
Title 13 | Commercial Transactions
Chapter 1319 | Miscellaneous Credit Transactions
Section 1319.08 | Use of Postclosing Solvency Covenant.
Universal Citation: OH Rev Code § 1319.08 (2022)
Effective: March 27, 2013
Latest Legislation: House Bill 479 - 129th General Assembly
(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.
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