SECTION
1. That
section 2305.06 of the Revised Code be amended to read as follows:
Sec.
2305.06. Except
as provided in sections 126.301 and 1302.98 of the Revised Code, an action upon
a specialty or an agreement, contract, or promise in writing shall be brought
within fifteen eight years after the cause thereof of
action accrued.
SECTION
2. That
existing section 2305.06 of the Revised Code is hereby repealed.
SECTION
3. Subject
to Section 4 of this act, section 2305.06 of the Revised Code, as amended by
this act, applies to actions in which the cause of action accrues on or after
the effective date of this act.
Section
4. For
causes of action that are governed by section 2305.06 of the Revised Code and
accrued prior to the effective date of this act, the period of limitations
shall be eight years from the effective date of this act or the expiration of
the period of limitations in effect prior to the effective date of this act,
whichever occurs first.
NOTICE:
This summary is designed merely to inform and alert you of recent legal
developments. It does not constitute legal advice and does not apply to any
particular situation because different facts could lead to different results.
Information here can change or be amended without notice. Readers should not
act upon this information without legal advice. If you have any questions about
anything you have read, you should consult with or retain an employment
attorney.
