Ohio Revised Code Search

...(A) A designated beneficiary, or a trustee or guardian of a designated beneficiary who lacks capacity to enter into an agreement, may apply, on forms prescribed by the treasurer of state, to open a program account. A beneficiary may have only one ABLE account. The treasurer of state may impose a nonrefundable application fee. The application shall require the applicant to provide the following information: (1) The n...

... to 1304.85 of the Revised Code. (3) "Beneficiary" means the person to be paid by the beneficiary's bank. (4) "Beneficiary's bank" means the bank identified in a payment order in which an account of the beneficiary is to be credited pursuant to the order or which otherwise is to make payment to the beneficiary if the order does not provide for payment to an account. (5) "Customer" means a person, including a...

... if, in a payment order received by the beneficiary's bank, the name, bank account number, or other identification of the beneficiary refers to a nonexistent or unidentifiable person or account, no person has rights as a beneficiary of the order and acceptance of the order cannot occur. (B) If a payment order received by the beneficiary's bank identifies the beneficiary by name and an identifying or bank account num...

...ction 1304.77 of the Revised Code, if a beneficiary's bank accepts a payment order, the bank shall pay the amount of the order to the beneficiary of the order. Payment is due on the payment date of the order, but, if acceptance occurs on the payment date after the close of the funds-transfer business day of the bank, payment is due on the next funds-transfer business day. If the bank refuses to pay after demand by th...

...(A) If the beneficiary's bank credits an account of the beneficiary of a payment order, payment of the bank's obligation under division (A) of section 1304.76 of the Revised Code occurs when and to the extent the beneficiary is notified of the right to withdraw the credit, the bank lawfully applies the credit to a debt of the beneficiary, or funds with respect to the order are otherwise made available to the benefici...

...nator of a funds transfer shall pay the beneficiary of the originator's payment order at the time a payment order for the benefit of the beneficiary is accepted by the beneficiary's bank in the funds transfer and in an amount equal to the amount of the order accepted by the beneficiary's bank, but not more than the amount of the originator's order. (B)(1) If payment under division (A) of this section is made to sati...

...(A) A successor of a beneficiary may consent to amendments, sign and present documents, and receive payment or other items of value in the name of the beneficiary without disclosing its status as a successor. (B) A successor of a beneficiary may consent to amendments, sign and present documents, and receive payment or other items of value in its own name as the disclosed successor of the beneficiary. Except as other...

...d continuing after death to a surviving beneficiary designated at the time the plan of payment is selected. If a retirant who is eligible to select a plan of payment under division (B)(2)(b) of this section fails to do so, the benefit shall be paid as a monthly annuity under the plan of payment specified in rules adopted by the public employees retirement board. (c) Notwithstanding divisions (B)(2)(a) and (b) of th...

...ceased member. (3) "Dependent" means a beneficiary who receives one-half of the beneficiary's support from a member during the twelve months prior to the member's death. (4) "Surviving spouse" means an individual who establishes a valid marriage to a member at the time of the member's death by marriage certificate or pursuant to division (E) of this section. (5) "Survivor" means a surviving spouse, child, or paren...

...r who dies before service retirement, a beneficiary, as determined in this section or section 145.43 of the Revised Code, may elect to forfeit the accumulated contributions and to substitute certain other benefits under division (A) or (B) of this section. (A)(1) Except as provided in division (A)(3) of this section, if a deceased member was eligible for a service retirement benefit as provided in section 145.33, ...

... after death to the member's designated beneficiary for the beneficiary's life. The beneficiary shall be nominated by written designation filed with the retirement board. The amount payable to the beneficiary shall not exceed the amount payable to the member. (2) "Single-life plan," the member's retirement allowance determined under section 145.33, 145.331, 145.332, or 145.335 of the Revised Code; (3) "Multiple...

...gnates the member's current spouse as a beneficiary under that plan unless that spouse consents in writing to not being designated a beneficiary or the board waives the requirement that the current spouse consent. (4) The contributor shall designate the beneficiary or beneficiaries under a plan of payment in writing at the time the plan is selected. (5) A plan of payment, other than a single-life plan, shall be eff...

...he percentage of the deposits that each beneficiary is to be paid. If the contributor has not specified the percentage, the deposits shall be divided equally among the beneficiaries. The last designation of any beneficiary revokes all previous designations. The contributor's marriage, divorce, marriage dissolution, legal separation, or refund under section 145.63 of the Revised Code, or the birth of the contributor'...

...ll name of the insured or annuitant and beneficiary, if any, and their last known addresses according to the holder's records; (c) The nature and identifying number, if any, or description of the funds and the amount appearing from the records to be due; (d) The date when the funds became payable, demandable, or returnable and the date of the last transaction with the owner with respect to the funds; (e) Subjec...

...ht of disposition of the remains of the beneficiary of this contract pursuant to section 2108.70 or 2108.81 of the Revised Code will have the right to purchase cemetery merchandise and services inconsistent with the merchandise and services set forth in this contract. However, the beneficiary is encouraged to state his or her preferences as to the manner of final disposition in a declaration of the right of dispositi...

...owing persons: (a) The transferee of a beneficiary; (b) Any person pursuant to an agreement, request, or instruction of a beneficiary or pursuant to a legal claim against a beneficiary. (2) The distribution is the subject of an agreement between a beneficiary and any person that requires the fiduciary or beneficiary to pay a percentage of an inheritance or a dollar amount to any person other than the benefici...

... person, shall adjust the share of each beneficiary in a manner that is equitable, having due regard for the injury and loss to each beneficiary resulting from the death and for the age and condition of the beneficiaries. If all of the beneficiaries are on an equal degree of consanguinity to the deceased person, the beneficiaries may adjust the share of each beneficiary among themselves. If the beneficiaries do not a...

...ion: (1) "Designate or designation in beneficiary form" means to designate, or the designation of, a motor vehicle, an all-purpose vehicle, an off-highway motorcycle, a watercraft, or an outboard motor in a certificate of title that indicates the present owner of the motor vehicle, all-purpose vehicle, off-highway motorcycle, watercraft, or outboard motor and the intention of the present owner with respect to the...

...ceased member. (3) "Dependent" means a beneficiary who receives at least one-half of the beneficiary's support from a member during the twelve months prior to the member's death. (4) "Surviving spouse" means an individual who establishes a valid marriage to a member at the time of the member's death by marriage certificate or pursuant to division (E) of this section. (5) "Survivor" means a spouse, child, or depend...

...r life, and continuing after death to a beneficiary under one of the following optional plans: (1) Option 1. The retirant's lesser benefit shall be paid for life to the sole beneficiary named at retirement. (2) Option 2. Some other portion of the retirant's benefit shall be paid for life to the sole beneficiary named at retirement. The beneficiary's monthly amount shall not exceed the monthly amount payable to the ...

...ceased member. (3) "Dependent" means a beneficiary who receives one-half of the beneficiary's support from a member during the twelve months prior to the member's death. (4) "Surviving spouse" means an individual who establishes a valid marriage to a member at the time of the member's death by marriage certificate or pursuant to division (F) of this section. (5) "Survivor" means a surviving spouse, child, or p...

...who dies before service retirement, the beneficiary, as determined in section 3309.44 of the Revised Code, may elect to forfeit the accumulated account and to substitute certain other benefits either under division (A) or (B) of this section. (A)(1) If a deceased member was eligible for a service retirement allowance as provided in section 3309.36 or 3309.381 of the Revised Code, a surviving spouse or other sole de...

...gnates the member's current spouse as a beneficiary under that plan unless that spouse consents in writing to not being designated a beneficiary under any plan of payment or the board waives the requirement that the current spouse consent. (2) An application for retirement shall include an explanation of all of the following: (a) That, if the member is married, unless the spouse consents to another plan of pay...

...on units if either the purchaser or the beneficiary is a resident of this state at the time the contract is entered into. A tuition payment contract shall allow any person to purchase tuition units at the price determined by the authority pursuant to section 3334.07 or 3334.12 of the Revised Code for the year in which the tuition unit is purchased. The purchaser shall name in the payment contract one specific individ...

... deposited in the fund. No purchaser or beneficiary of tuition units shall have any claim against the funds of any state institution of higher education. All investment fees and other costs incurred in connection with the exercise of the investment powers of the authority pursuant to divisions (D) and (E) of this section shall be paid from the assets of the fund. (B) Unless otherwise provided by the authority...