Section 5815.37 | Temporary Conveyances.
Effective: March 27, 2013 Latest Legislation: House Bill 479 – 129th General Assembly (A) If any interest in real property held by any trustee of an express trust that is wholly or partially governed by a law of this state or any interest in real property located in this state that is held by the […]
Section 5815.41 | Consignment of Art Works Definitions.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly As used in sections 5815.41 to 5815.48 of the Revised Code: (A) “Art dealer” means a person engaged in the business of selling works of art, other than a person exclusively engaged in the business of selling goods at public auction. (B) […]
Section 5815.42 | Art Dealer’s Acceptance of Work on Consignment From Artist.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly If an art dealer accepts a work of art, on a fee, commission, or other compensation basis, on consignment from the artist who created the work of art, the following consequences attach: (A) The art dealer is, with respect to that work […]
Section 5815.22 | Spendthrift Provisions.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A)(1) Except as provided in divisions (A)(2), (3), and (4) of this section, a spendthrift provision in an instrument that creates an inter vivos or testamentary trust shall not cause any forfeiture or postponement of any interest in property that satisfies both […]
Section 5815.23 | Effect of Requiring or Permitting Accumulation for More Than One Year of Any Income of Property.
Effective: April 6, 2017 Latest Legislation: House Bill 432 – 131st General Assembly (A) Except as provided in division (B) of this section, an instrument that creates an inter vivos or testamentary trust shall not require or permit the accumulation for more than one year of any income of property that satisfies both of the […]
Section 5815.24 | Limitations on Liability.
Effective: March 27, 2013 Latest Legislation: House Bill 479 – 129th General Assembly (A) As used in this section, “fiduciary” means a trustee under any expressed, implied, resulting, or constructive trust; an executor, administrator, public administrator, committee, guardian, conservator, curator, receiver, trustee in bankruptcy, or assignee for the benefit of creditors; a partner, agent, officer […]
Section 5815.25 | Administrative Duties and Responsibilities of Trust; Exclusion of Fiduciaries.
Effective: March 27, 2013 Latest Legislation: House Bill 479 – 129th General Assembly (A) As used in this section, “fiduciary” means a trustee under any testamentary, inter vivos, or other trust, an executor or administrator, or any other person who is acting in a fiduciary capacity for any person, trust, or estate. (B) If an […]
Section 5815.26 | Holding Cash or Making Temporary Investments.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A) As used in this section: (1) “Fiduciary” means a trustee under any testamentary, inter vivos, or other trust, an executor or administrator, or any other person who is acting in a fiduciary capacity for a person, trust, or estate. (2) “Short […]
Section 5815.07 | Check Drawn by Fiduciary Upon Account of His Principal – Liability of Bank.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly If a check is drawn upon the principal’s account by a fiduciary who is empowered to do so, the bank may pay the check without being liable to the principal, unless the bank pays the check with actual knowledge that the fiduciary […]
Section 5815.27 | Application of Generation-Skipping Transfer Tax Provisions.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A) A provision in a will or trust agreement, which provision pertains to the payment of any taxes that are imposed by reason of the testator’s or trust creator’s death, does not include the payment of any portion of any tax that […]