Effective: January 1, 2018 Latest Legislation: House Bill 49 – 132nd General Assembly As used in sections 5814.01 to 5814.10 of the Revised Code, unless the context otherwise requires: (A) “Benefit plan” means any plan of an employer for the benefit of any employee, any plan for the benefit of any partner, or any plan […]
Effective: April 6, 2017 Latest Legislation: House Bill 432 – 131st General Assembly (A) A person who is eighteen years of age or older may, during the person’s lifetime, make a gift or transfer of a security, money, a life or endowment insurance policy, an annuity contract, a benefit plan, real estate, tangible or intangible […]
Effective: April 6, 2017 Latest Legislation: House Bill 432 – 131st General Assembly (A) A gift or transfer made in a manner prescribed in sections 5814.01 to 5814.10 of the Revised Code, is irrevocable and conveys to the minor indefeasibly vested legal title to the security, money, life or endowment insurance policy, annuity contract, benefit […]
Effective: April 6, 2017 Latest Legislation: House Bill 432 – 131st General Assembly (A) The custodian shall collect, hold, manage, invest, and reinvest the custodial property. (B) The custodian shall pay over to the minor for expenditure by the minor, or expend for the use or benefit of the minor, as much of or all […]
Effective: April 6, 2017 Latest Legislation: House Bill 432 – 131st General Assembly (A) A custodian is entitled to reimbursement from the custodial property for reasonable expenses incurred in the performance of the custodian’s duties. (B) A custodian may act without compensation for the custodian’s services. (C) Unless the custodian is a donor or transferor, […]
Effective: April 6, 2017 Latest Legislation: House Bill 432 – 131st General Assembly An issuer, transfer agent, financial institution, broker, life insurance company, or other person acting on the instructions of or otherwise dealing with any person purporting to act as a donor or transferor or dealing with any person or trust company purporting to […]
Effective: April 6, 2017 Latest Legislation: House Bill 432 – 131st General Assembly (A) Any person who is eighteen years of age or older or a trust company is eligible to become a successor custodian. A successor custodian has all the rights, powers, duties, and immunities of a custodian designated in a manner prescribed by […]
Effective: April 6, 2017 Latest Legislation: House Bill 432 – 131st General Assembly (A) The minor, if the minor has attained the age of fourteen years, or the legal representative of the minor, a member of the minor’s family who is eighteen years of age or older, or a donor or transferor or the donor’s […]
Effective: April 6, 2017 Latest Legislation: House Bill 432 – 131st General Assembly (A) Subject to the requirements and limitations of this section, the time for delivery to the minor of custodial property transferred under or pursuant to division (A) of section 5814.02 of the Revised Code may be delayed until a specified time after […]
Effective: April 6, 2017 Latest Legislation: House Bill 432 – 131st General Assembly (A) Sections 5814.01 to 5814.10 of the Revised Code shall be construed to effectuate their general purpose to make uniform the law of those states that enact similar provisions. (B) Sections 5814.01 to 5814.10 of the Revised Code shall not be construed […]
