Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly As used in this chapter: (A) “Charitable trust” means a charitable remainder annuity trust as defined in section 664(d) of the Internal Revenue Code, a charitable remainder unitrust as defined in section 664(d) of the Internal Revenue Code, a charitable lead or […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Except as provided in division (B) of this section, no person shall solicit or engage in trust business in this state except a corporation that is one of the following: (1) A corporation licensed under section 1111.06 of the Revised Code […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Notwithstanding any other provision of the Revised Code, any national bank or federal savings association that has been granted fiduciary powers by the office of the comptroller of the currency may act in this state as trustee, executor, administrator, registrar of […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Prior to soliciting or engaging in trust business in this state, a trust company shall pledge to the treasurer of state interest bearing securities authorized in division (B) of this section, having a par value, not including unaccrued interest, of one […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly Prior to soliciting or engaging in trust business in this state, and at all times while engaging in trust business in this state, a trust company shall have all of the following: (A) Individual, schedule, or blanket fidelity bonds in favor of […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) Any person, other than a national bank with trust powers or a federal savings association with trust powers, proposing to solicit or engage in trust business in this state shall apply to the superintendent of financial institutions to be licensed as […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A trust company’s license to solicit or engage in trust business in this state is not transferable or assignable. (B) Subject to section 2109.28 of the Revised Code, if any trust company enters into a merger or consolidation in which the […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A) A trust company, or a national bank or federal savings association authorized to accept and execute trusts and doing business under authority granted by the office of the comptroller of the currency may transfer all or part of its trust business […]
Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly (A)(1) A trust service office is any location established by a trust company as a place for either of the following: (a) Persons seeking the services of the trust company, or information about those services, to contact representatives of the trust company […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly A trust company may receive and hold moneys or property, in trust or as custodian, from executors, administrators, assignees, guardians, trustees, corporations, or individuals, and engage in those activities constituting the trust business, and any activities incidental to the trust business, including […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) Any court in this state may direct moneys or property that are under its control, paid into court by parties to legal proceedings, or brought into court by reason of an order, judgment, or decree, to be placed with a trust […]
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A)(1) Except as provided in divisions (A)(2) and (G) of this section or as otherwise provided by the instrument creating the trust, a trust company acting as fiduciary under any instrument and having funds of the trust which are to be invested […]
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly A trust company may do any of the following: (A) Collectively invest assets it holds in any fiduciary capacity in any investment authorized by the superintendent of financial institutions, subject to all of the following conditions that apply: (1) The collective investment […]
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A) A trust company acting in any fiduciary capacity, including, but not limited to, the capacities described in section 1111.11 of the Revised Code, may purchase any service or product, including, but not limited to, insurance or securities underwritten or otherwise distributed […]
Effective: January 1, 1997 Latest Legislation: House Bill 538 – 121st General Assembly (A) A trust company may receive and hold money and other property in a fiduciary capacity generally in trust as trustee unless the instrument or other authority appointing the trust company as trustee directs that the money and property be held, in […]
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.
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 […]
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 […]
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 […]
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 […]
