Ohio Revised Code Search

...he office of the comptroller of the currency may transfer all or part of its trust business in this state to another trust company or to a national bank or federal savings association authorized to accept and execute trusts and doing business under authority granted by the office of the comptroller of the currency, if all of the following have occurred: (1) Not less than sixty days before consummation of the transfe...

... about those services, to contact representatives of the trust company regarding the trust company's business. (b) The trust company's representatives to contact the trust company's customers, or potential customers, and their representatives. (2) None of the following is a trust service office: (a) Any location where a trust company conducts its operations but does not provide facilities for contact with its cust...

...tees, corporations, or individuals, and engage in those activities constituting the trust business, and any activities incidental to the trust business, including any of the following: (A) Acting as trustee under any instrument creating a trust for the care and management of property under the same circumstances and in the same manner as any other trustee; (B) Accepting and executing any trusts, duties, and powers ...

..., or decree, to be placed with a trust company for safekeeping. (B) Any court in this state may appoint a trust company to act as executor, administrator, assignee, guardian, receiver, or trustee, or in any other fiduciary capacity, for any estate or property of any kind. (C) No trust company shall be required by a court to assume or execute any trust the trust company has not consented to assume or execute.

...nstrument creating the trust, a trust company acting as fiduciary under any instrument and having funds of the trust which are to be invested may, in addition to any other investments authorized to a trust company by law, invest them in any of the following: (a) Forms of investments enumerated or described in, or made eligible for investment by, the Ohio Uniform Prudent Investor Act and sections 2109.37, 2109....

...n any fiduciary capacity in any investment authorized by the superintendent of financial institutions, subject to all of the following conditions that apply: (1) The collective investment is not prohibited by the instrument, judgment, decree, or order creating the fiduciary relationship for any of the following reasons: (a) The investment is being made collectively; (b) The character of some or all of the oth...

... the purchase of securities made at the time of the initial offering of the securities or at any time thereafter.

...other property in a fiduciary capacity generally in trust as trustee unless the instrument or other authority appointing the trust company as trustee directs that the money and property be held, in whole or in part, separately from other money and property held in a fiduciary capacity. (B) Moneys held in a fiduciary capacity by a trust company may, pending distribution, payment of current obligations, or investment,...

...or other authority under which a trust company acts shall govern the trust company in receiving, holding, investing, and distributing money and other property the trust company holds in a fiduciary capacity.

...ociation, or savings bank authorized to engage in business in addition to trust business, the trust company may invest the funds received in a fiduciary capacity in a deposit account or instrument of the trust company as specifically permitted by section 1111.13 of the Revised Code. No person shall access any property held by a trust company in trust to satisfy a liability of the trust company. (C) A trust company s...

...aithful discharge of the duties undertaken by the trust company in respect to any trust or in any fiduciary capacity. (B)(1) Except as provided in division (B)(2) of this section, no bond or other security shall be required from any trust company with respect to any trust or when the trust company is appointed executor, administrator, guardian, trustee, receiver, assignee, or safekeeping agent. (2) A court or offic...

...rves as a cofiduciary may, with the consent of the other cofiduciaries, do any of the following: (a) Place securities it holds in any fiduciary capacity with a custodian of securities, as provided in division (B) of this section; (b) Register and hold securities it holds in any fiduciary capacity in its own name, in the name of a nominee, or in bearer form, as provided in division (C) of this section; (c) Hold sec...

... oath or to make an affidavit, a trust company acting in that capacity may satisfy the requirement through the oath or affidavit of any authorized officer. (2) A trust company that takes and subscribes an oath or makes an affidavit is liable for its failure to perform any of the duties required by law to be performed by an individual acting in like capacity, and is subject to the same penalties for the failure as wo...

...and sanctions available to, the superintendent of financial institutions and the division of financial institutions under Chapters 1101. to 1127. of the Revised Code, in addition to the specific powers, remedies, and sanctions provided for in this chapter. (B)(1) With regard to a trust company that is not a bank doing business under authority granted by the superintendent, "regulated person," as used in division (B)...

...Each trust company licensed under this chapter shall file with the superintendent of financial institutions any report the superintendent may require, in the form and manner and containing the information prescribed by the superintendent.

...the judge's own motion or upon the written application of any party interested in the trust estate, appoint suitable persons to investigate the affairs and management of the trust company concerning the trust. The persons who conduct the investigation shall make a sworn report to the court of the investigation. The expense of the investigation shall be taxed as costs, either against the party requesting it or against...

...(A) A trust company licensed under this chapter may cease doing trust business and voluntarily surrender its license to solicit or engage in trust business in this state, and as a consequence be relieved of the necessity to comply with the requirements of this chapter, only with the consent of the superintendent of financial institutions. (B) A trust company proposing to cease doing trust business in this state shal...

... the superintendent may revoke a trust company's license to do trust business in this state: (1) The existence of the trust company, or its authority to transact business, has been terminated or suspended under the laws of the state or country in which the trust company is incorporated. (2) The trust company's authority to transact trust business has been terminated or suspended under the laws of the state or count...

...financial institutions revokes a trust company's license to do trust business in this state pursuant to division (A) of section 1111.32 of the Revised Code, the superintendent may take possession of the trust company's trust business in this state and may appoint a receiver for the liquidation of the trust business in this state. If the trust company has its principal place of business in this state, the superintende...

...pouse or spousal equivalent who, at the time of the contribution, holds a joint, community property, or other similar shared ownership interest with the key employee. (k) Any business entity wholly owned, either directly or indirectly, exclusively by and operated for the sole benefit of one or more other family clients. (2) With respect to licensed family trust companies only, "family client" also means a family af...

... subject to this chapter only to the extent that the family trust company transacts trust business in this state.

...y may be, but is not required to be, licensed under this chapter. If a family trust company does not apply for a license under this chapter, it is not subject to supervision by the superintendent of financial institutions, so long as the family trust company meets the criteria as set forth in this chapter for an unlicensed family trust company. It shall, however, before commencing operations as a family trust company...

...ny may do any of the following for the benefit of family clients only: (1)¿Act as a fiduciary, including as a personal representative, within and outside this state; (2)¿Act within and outside this state as advisory agent, agent, assignee, assignee for the benefit of creditors, attorney in fact, authenticating agent, bailee, bond or indenture trustee, conservator, conversion agent, curator, custodian, escrow agen...

... (1)¿Invest in a security of an investment company or investment trust for which the family trust company or a family affiliate provides services in a capacity other than as a fiduciary; (2)¿Place a security transaction using a broker that is a family affiliate; (3)¿Invest in an investment contract that is purchased from an insurance company or carrier owned by or affiliated with the family trust company or a fami...

...ffairs of the family trust company diligently and honestly and that the member will not knowingly or willfully permit noncompliance with or violation of any of the laws relating to family trust companies.