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 […]
Section 5815.08 | Deposit to Personal Credit of Fiduciary.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly If a fiduciary makes a deposit in a bank to the fiduciary’s personal credit of checks drawn by the fiduciary upon an account in the fiduciary’s own name as fiduciary, checks payable to the fiduciary as fiduciary, checks drawn by the fiduciary […]
Section 5815.28 | Supplemental Services for Beneficiary With Physical or Mental Disability.
Effective: October 12, 2016 Latest Legislation: House Bill 158 – 131st General Assembly (A) As used in this section: (1) “Ascertainable standard” includes a standard in a trust instrument requiring the trustee to provide for the care, comfort, maintenance, welfare, education, or general well-being of the beneficiary. (2) “Disability” means any substantial, medically determinable impairment […]
Section 5815.01 | Inheritance and Bequest Defined.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly Except when the intent of the settlor clearly is to the contrary, the following rules of construction shall apply in interpreting the terms “inheritance” and “bequest”: (A) The term “inheritance,” in addition to its meaning at common law or under any other […]
Section 5815.02 | Issuers of Securities and Holders of Record.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly As used in sections 5815.02 and 5815.03 of the Revised Code: (A) “Fiduciary” includes a trustee under any trust, expressed, implied, resulting, or constructive; an executor, administrator, public administrator, guardian, committee, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of […]
Section 5815.03 | Issuer of Securities May Treat Holders of Record as Competent.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly Unless there has been delivered to an issuer a certified copy of an order, judgment, or decree of a court, judge, or administrative body or official, the legal effect of which is to restrict, suspend, or remove such capacity or authority, the […]
Section 5815.04 | Uniform Fiduciary Act Definitions.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly As used in sections 5815.04 to 5815.11 of the Revised Code: (A) “Bank” includes any person, carrying on the business of banking and any financial institution defined in section 5725.01 of the Revised Code. (B) “Fiduciary” includes a trustee under any trust, […]
Section 5815.05 | Transferee Not Responsible for Proper Application of Money.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly A person who in good faith pays or transfers to a fiduciary any money or other property that the fiduciary as such is authorized to receive is not responsible for the proper application of the money or other property by the fiduciary. […]
Section 5815.06 | Deposit in Name of Fiduciary as Such – Liability of Bank.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly If a deposit is made in a bank to the credit of a fiduciary as such, the bank may pay the amount of the deposit or any part thereof upon the check of the fiduciary, signed with the name in which the […]