Ohio Revised Code Search

...This chapter may be cited as the Ohio legacy trust act.

... Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C. 1 et seq., as amended. (J) "Investment decision" means any participation in any decision regarding the retention, purchase, sale, exchange, tender, or other transaction affecting the ownership of or rights in investments. (K)(1) "Legacy trust" means a trust evidenced by a written trust instrument to which all of the following apply: (a) The trust has, names, or ...

... a legacy trust shall restrain both voluntary and involuntary transfer of a transferor's interest in that trust. Any spendthrift provision in a legacy trust is enforceable under any applicable nonbankruptcy law within the meaning of section 541(c)(2) of the Bankruptcy Code regardless of whether or not the relevant legacy trust instrument makes any reference to that enforceability. In addition to the restraints ...

...the corpus or income of a legacy trust unless those rights, powers, or interests are granted, permitted, or recognized by both section 5816.05 of the Revised Code and the governing legacy trust instrument. Any written, verbal, tacit, express, or implied agreement or understanding or any other agreement or understanding purporting to grant, permit, or recognize any greater rights, powers, or interests than are ...

...n a power to appoint to a transferor, a creditor of the transferor, the estate of the transferor, or a creditor of the transferor's estate, that is exercisable by will or by other written instrument of a transferor effective upon the death of the transferor or during the lifetime of the transferor; (D) The right of a transferor to receive trust income as set forth in the trust instrument. (E) Both of the followin...

...ansferor does not intend to defraud any creditor by transferring the property to the legacy trust. (5) There are no pending or threatened court actions against the transferor, except for any court action identified by the affidavit or an attachment to the affidavit. (6) The transferor is not involved in any administrative proceeding, except for any proceeding identified by the affidavit or an attachment to the af...

...ash equivalents. (ii) "Cash" means the coins or currency of the United States or any other nation. (iii) "Cash equivalent" includes certified or uncertified checks; money orders; bank drafts; any electronic transfer of funds; negotiable instruments; instruments indorsed in blank or in bearer form; securities issued or guaranteed by the United States, any state of the United States, or any state or federal agen...

...position of a partial, co-ownership, or undivided interest in property by a transferor other than the transferor whose qualified disposition is avoided, together with the legacy trust itself, shall remain valid and effective. (3) If the court is satisfied that a trustee has not acted in bad faith in accepting or administering the property that is the subject of the avoided qualified disposition, all of the foll...

...: (a) "Court" includes a judicial tribunal, an administrative tribunal, or other adjudicative body or panel. (b) "Order" includes any order, writ, judgment, entry, edict, mandate, directive, instruction, or decree issued or entered by any court. (B) In all cases other than the situation described in division (A) of this section, both of the following apply: (1) If a legacy trust ceases to have at least one qu...

...as other than a qualified disposition solely because the nonqualified trustee is a trustee of a nonlegacy trust. (D) A disposition to any nonqualified trustee of a legacy trust shall be treated as a qualified disposition if at the time of the disposition any of the following applies: (1) There is at least one qualified trustee serving pursuant to the terms of that legacy trust. (2) There is no qualified trustee...

...advisor shall be considered a fiduciary unless the terms of a legacy trust instrument expressly provide otherwise.

...y provided otherwise by the terms of a legacy trust instrument, each trustee and each advisor of a legacy trust shall have the greatest discretion permitted by law in connection with all matters of trust administration, all trust distributions, and all other trustee or advisor decisions.

...advisors, either acting alone or in conjunction with any other person, including any person authorized to veto any distributions from the legacy trust.

...n or after the effective date of this amendment.

...ss of the person to perform any duty unless such period is contemporaneous with an active duty period. (B) "Benefits" means the employment benefits, other than salary or wages, that an employer regularly provides or makes available to employees, including, but not limited to, medical insurance, disability insurance, life insurance, pension plans, and retirement plans. (C) "Employer" means a person who employs...

...ths and for at least one thousand two hundred fifty hours in the twelve months immediately preceding commencement of the leave. (2) The employee is the parent, spouse, or a person who has or had legal custody of a person who is a member of the uniformed services and who is called into active duty in the uniformed services for a period longer than thirty days or is injured, wounded, or hospitalized while servin...

...shall not deprive an employee who takes leave pursuant to section 5906.02 of the Revised Code of any benefit that accrued before the date that leave commences. (D) An employer shall not require an employee to waive the rights to which the employee is entitled pursuant to this chapter. (E) On and after the effective date of this section, an employer shall not enter into a collective bargaining agreement or emplo...

...er is subject to a civil action for injunctive relief or any other relief that a court finds necessary to secure a right provided by this chapter.

...e application for a scholarship granted under this chapter is made; or if the veteran parent is deceased, the child's natural or adoptive parent was married to the veteran parent at the time of the veteran parent's death; (2) The child resided with the veteran parent for a period of not less than ten consecutive years immediately prior to making application for the scholarship; or if the veteran parent is deceased...

...any moneys in the state treasury to the credit of the general revenue fund. The chancellor shall act as secretary to the board and shall furnish such clerical and other assistance as may be necessary to the performance of the duties of the board. The board shall determine the number of scholarships to be made available, receive applications for scholarships, pass upon the eligibility of applicants, decide which a...

...d veterans of the armed services of the United States. To be eligible for a scholarship, such child shall: (A) At the time of application, have attained the sixteenth, but not the twenty-fifth, birthday; (B) At the time of application, if a child of a veteran who entered the armed services: (1) As a legal resident of Ohio, have resided in the state for the last preceding year; (2) Not as a legal resident of Ohio,...

...nts of any of the armed services of the United States who are killed or permanently and totally disabled while on active duty pursuant to bona fide orders of the governor or the president of the United States, or who are killed or permanently and totally disabled while at a scheduled training assembly, a field training period of any duration or length, or active duty for training, pursuant to bona fide orders issued ...

...rans' children scholarship, as provided under sections 5910.01 to 5910.06 of the Revised Code, shall be granted to the child of any person who, in the course of honorable service in the armed services of the United States, was declared by the United States department of defense to be a prisoner of war or missing in action as a result of the United States' participation in armed conflict on or after January 1, 1960, i...

...he general and instructional fees at colleges and universities which receive support from the state of Ohio and are approved by the chancellor of higher education, except that the percentage may be reduced by the war orphans and severely disabled veterans' children scholarship board in any year that insufficient funds are appropriated to fully fund scholarships for all eligible students; (B) A grant to an eligible ...

...are to be granted based upon available funds provided by the Ohio general assembly. If funds are available all eligible applicants shall be granted a scholarship. There shall be no limitation on the number of scholarships granted under section 5910.032 of the Revised Code, nor any limitation on the number of scholarships granted to any college or university under such section. No person shall be granted a scholarship...