Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A)(1) As used in the Revised Code, the “Ohio Uniform Prudent Investor Act” means sections 5809.01 to 5809.08, 5808.03, 5808.05, and 5808.06, division (A) of section 5808.02, and division (B) of section 5808.07 of the Revised Code, and those sections may be […]
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A) A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this requirement, the trustee shall exercise reasonable care, skill, and caution. (B) A […]
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A) A trustee may invest in any kind of property or type of investment provided that the investment is consistent with the requirements and standards of the Ohio Uniform Prudent Investor Act. (B) A trustee shall diversify the investments of a trust […]
Effective: March 22, 2013 Latest Legislation: House Bill 247 – 129th General Assembly (A) Notwithstanding any other provision of the Ohio Uniform Prudent Investor Act, unless otherwise provided by the terms of the trust, the duties of a trustee with respect to the acquisition, retention, or ownership of a life insurance policy as a trust […]
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of trust assets in order to bring the trust portfolio into compliance with […]
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly Compliance with the Ohio Uniform Prudent Investor Act shall be determined in light of the facts and circumstances existing at the time of a trustee’s decision or action and not by hindsight.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A) A trustee may delegate investment and management functions of a trust that a prudent trustee having comparable skills could properly delegate under the circumstances. A trustee that exercises its delegation authority under this division shall comply with the requirements of division […]
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted by the Ohio Uniform Prudent Investor Act: “investments permissible by law for investment of trust funds”; “legal investments”; “authorized […]
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A) The Ohio Uniform Prudent Investor Act shall be applied and construed to effectuate the general purpose to make uniform the law with respect to the subject of these sections among the states enacting it. (B) The Ohio Uniform Prudent Investor Act […]
