Section 1111.02 | Authority to Solicit or Engage in Trust Business.
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 […]
Section 1111.03 | Authority of National Bank or Federal Savings Association.
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 […]
Section 1111.04 | Trust Company Pledging Securities.
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 […]
Section 1111.05 | Individual, Schedule, or Blanket Fidelity Bonds for Employees and Officers.
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 […]
Section 1111.06 | Applying for Trust Company License.
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 […]
Section 1111.01 | Trust Company Definitions.
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 […]