Section 1111.27 | Reporting to Superintendent.
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly Each trust company licensed under this chapter shall file with the superintendent of financial institutions any report the superintendent may require, in the form and manner and containing the information prescribed by the superintendent.
Section 1111.28 | Court Order for Investigation of Trust.
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) Any judge of a court by order of which a trust company is acting in a fiduciary capacity may, upon the judge’s own motion or upon the written application of any party interested in the trust estate, appoint suitable persons to […]
Section 1111.31 | Ceasing Trust Business.
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) A trust company licensed under this chapter may cease doing trust business and voluntarily surrender its license to solicit or engage in trust business in this state, and as a consequence be relieved of the necessity to comply with the requirements […]
Section 1111.32 | Revoking or Suspending License.
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) If the superintendent of financial institutions determines, after notice in accordance with section 1121.37 of the Revised Code and opportunity for hearing in accordance with section 1121.38 of the Revised Code, that any of the following factors is true, the superintendent […]
Section 1111.33 | Liquidating Assets.
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) If the superintendent of financial institutions revokes a trust company’s license to do trust business in this state pursuant to division (A) of section 1111.32 of the Revised Code, the superintendent may take possession of the trust company’s trust business in […]
Section 1111.17 | Will, Trust Instrument or Other Authority Governs.
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly Any will, trust instrument, or other authority under which a trust company acts shall govern the trust company in receiving, holding, investing, and distributing money and other property the trust company holds in a fiduciary capacity.
Section 1111.18 | Separating Fiduciary Assets and Records.
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) A trust company shall segregate all assets held in any fiduciary capacity from the trust company’s own assets, and shall keep its fiduciary records separate and distinct from the trust company’s other records. (B) A trust company shall not use funds […]
Section 1111.21 | Stated Capital Security for Faithful Discharge of Duties.
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) The stated capital of a trust company, with the liabilities of the shareholders existing under the terms of the shares, shall be held as security for the faithful discharge of the duties undertaken by the trust company in respect to any […]
Section 1111.22 | Records Kept Separate.
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) A trust company shall keep separate and complete records for each fiduciary account or relationship, including a record of any securities constituting assets of each particular estate, trust, or account. (B) A trust company may place securities it holds in any […]
Section 1111.23 | Requirements for Oaths, Affidavits and Signatures.
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A)(1) Whenever an executor, administrator, guardian, or conservator of estates, assignee, receiver, depositary, safekeeping agent, or trustee is required to take and subscribe an oath or to make an affidavit, a trust company acting in that capacity may satisfy the requirement through […]