Ohio Revised Code|Section 1306.15 | Control of transferable record.

                                                
(A) As used in this section, "transferable  record" means an electronic record that satisfies both of the  following: 
(1) The transferable record would be a note under Chapter  1303. or a document under Chapter 1307. of the Revised Code, if  the electronic record were in writing.
(2) The issuer of the electronic record expressly has agreed  that it is a transferable record.
(B) A person has control of a transferable record if a system  employed for evidencing the transfer of interests in the  transferable record reliably establishes that person as the person  to which the transferable record was issued or transferred.
(C) A system satisfies division (B) of this section, and a  person is deemed to have control of a transferable record, if the  transferable record is created, stored, and assigned in such a  manner that satisfies all of the following:
(1) A single authoritative copy of the transferable record  exists that is unique, identifiable, and, except as provided in  divisions (C)(4) to (6) of this section, unalterable.
(2) The authoritative copy identifies the person asserting  control as either of the following:
(a) The person to which the transferable record was issued;
(b) If the authoritative copy indicates that the transferable  record has been transferred, the person to which the transferable  record most recently was transferred.
(3) The authoritative copy is communicated to and maintained  by the person asserting control or its designated custodian.
(4) Copies or revisions that add or change an identified  assignee of the authoritative copy may be made only with the  consent of the person asserting control.
(5) Each copy of the authoritative copy and any copy of a  copy is readily identifiable as a copy that is not the  authoritative copy.
(6) Any revision of the authoritative copy is readily  identifiable as authorized or unauthorized.
(D)(1) Except as otherwise agreed, a person having control of  a transferable record is the holder, as defined in section  1301.201 of the Revised Code, of the transferable record and has  the same rights and defenses as a holder of an equivalent record  or writing under the uniform commercial code. If the applicable  statutory requirements under section 1303.32, 1307.501, or 1309.27  of the Revised Code are satisfied, these rights and defenses  include the rights and defenses of a holder in due course, a  holder to which a negotiable document of title has been duly  negotiated, or a purchaser, respectively.
(2) Delivery, possession, and indorsement are not required to  obtain or exercise any of the rights under division (D)(1) of this  section.
(E) Except as otherwise agreed, an obligor under a  transferable record has the same rights and defenses as an  equivalent obligor under equivalent records or writings under the  uniform commercial code.
(F)(1) If requested by a person against which enforcement is  sought, the person seeking to enforce the transferable record  shall provide reasonable proof that the person is in control of  the transferable record.
(2) Proof required by division (F)(1) of this section may  include access to the authoritative copy of the transferable  record and related business records sufficient to review the terms  of the transferable record and to establish the identity of the  person having control of the transferable record.