Ohio Revised Code Chapter 2109 - Fiduciaries

• Section 2109.01 - Fiduciary Defined.
  Fiduciary," as used in Chapters 2101. to 2131. of the Revised Code, means any person, other than an assignee or trustee for an insolvent...
• Section 2109.02 - Appointment And Duties.
  Every fiduciary, before entering upon the execution of a trust, shall receive letters of appointment from a probate court having jurisdiction of the subject...
• Section 2109.021 - Fiduciary Filings By Mail Or In Person.
  After letters of appointment are issued to a fiduciary, the court shall accept filings by mail in matters of estates, guardianships, or trusts, unless...
• Section 2109.022 - [Repealed].
  Effective Date: 03-22-1989; 2008 HB499 09-12-2008
• Section 2109.03 - Fiduciary's Attorney.
  At the time of the appointment of a fiduciary, the fiduciary shall file in the probate court the name of the attorney, if any,...
• Section 2109.04 - Bond.
  (A) (1) Unless otherwise provided by law, order, or local rule, every fiduciary, prior to the issuance of the fiduciary's letters as provided by...
• Section 2109.05 - Bond - Trust Created By Will.
  When considered necessary by the probate court and not otherwise directed in the will, a bond, as provided by sections 2109.01 to 2109.58 of...
• Section 2109.06 - New Or Additional Bond.
  The probate court that appoints a fiduciary may, on its own motion or on the application of any interested party, and after notice to...
• Section 2109.07 - Bond Conditions - Administrator - When Not Required.
  (A) The bond required of an administrator by section 2109.04 of the Revised Code shall not be required in either of the following cases:...
• Section 2109.08 - Bond Conditions - Special Administrator.
  The bond required by section 2109.04 of the Revised Code of a special administrator shall be conditioned as follows: (A) To file with the...
• Section 2109.09 - Bond Conditions - Executor.
  (A) Unless the testator has specified otherwise in the will, the bond required of an executor by section 2109.04 of the Revised Code shall...
• Section 2109.10 - Bond When Executor Or Administrator Is Sole Residuary Legatee Or Distributee.
  If an executor or administrator is sole residuary legatee or distributee and if division (A) of section 2109.07 or division (A) of section 2109.09...
• Section 2109.11 - Bond Conditions - Testamentary Trustees.
  The bond required by section 2109.04 of the Revised Code of a testamentary trustee shall be conditioned as follows: (A) To make and return...
• Section 2109.12 - Bond Conditions - Guardians.
  Any bond required by or pursuant to section 2109.04 of the Revised Code of a guardian shall be conditioned as follows: (A) If applicable,...
• Section 2109.13 - Deposit Of Personal Property In Lieu Of Bond.
  In any case in which a bond is required by the probate court from a fiduciary and the value of the estate or fund...
• Section 2109.14 - Deposit Of Works Of Art In Museum Authorized - Reduction Of Bond.
  If the estate held by a fiduciary consists in whole or in part of works of nature or of art that are suitable for...
• Section 2109.15 - Informality Of Bond.
  No bond executed by a fiduciary shall be void or held invalid because of any informality in such bond or because of informality or...
• Section 2109.16 - One Bond For Two Or More Wards.
  When a person is appointed guardian of several minors who are children of the same parentage and inherit from the same estate, separate bonds...
• Section 2109.17 - Sureties.
  If the bond of a fiduciary is executed by personal sureties, one or more of the sureties shall be a resident of the county...
• Section 2109.18 - Release Of A Fiduciary's Sureties.
  A surety of a fiduciary or the executor or administrator of a surety may make application at any time to the probate court to...
• Section 2109.19 - Bond Of Indemnity To Surety.
  If a fiduciary wastes or unfaithfully administers an estate, on the application of a surety on the fiduciary's bond the probate court granting letters...
• Section 2109.20 - Guardian May Give Real Property Mortgage To Secure Bond.
  Instead of the sureties required on a guardian's bond by section 2109.04 of the Revised Code, a guardian of the person and estate or...
• Section 2109.21 - Residence Qualifications Of Fiduciary.
  (A) An administrator, special administrator, administrator de bonis non, or administrator with the will annexed shall be a resident of this state and shall...
• Section 2109.22 - Marriage No Disqualification For Fiduciary.
  The marriage of any person does not disqualify the person from acting as fiduciary, whether the marriage occurs before or after the person's appointment...
• Section 2109.23 - [Repealed].
  Effective Date: 10-20-1987
• Section 2109.24 - Resignation Or Removal Of Fiduciary.
  The probate court at any time may accept the resignation of any fiduciary upon the fiduciary's proper accounting, if the fiduciary was appointed by,...
• Section 2109.25 - Fiduciary In Military Service - Removal And Reinstatement.
  (A) Whenever it appears to the satisfaction of the probate court that a fiduciary is unable to perform the fiduciary's duties because the fiduciary...
• Section 2109.26 - Vacancy Before Termination Of The Trust - Accounting - Successor Fiduciary.
  If a sole fiduciary dies, is dissolved, declines to accept, resigns, is removed, or becomes incapacitated prior to the termination of the trust, the...
• Section 2109.27 - Surviving Fiduciaries.
  When two or more fiduciaries have been appointed jointly to execute a trust and one or more of them dies, declines, resigns, or is...
• Section 2109.28 - Merger Of Fiduciaries.
  A trust company or state or national bank having trust powers, resulting from merger or consolidation shall, upon filing proof thereof in the probate...
• Section 2109.29 - Rights As To Shares In Corporation.
  A corporation need not, unless ordered by a court, take notice of any duty of a fiduciary, or any restriction or limitation of the...
• Section 2109.30 - Accounts Of Fiduciaries.
  (A) Every executor and administrator shall render an account of the executor's and administrator's administration at the time and in the manner prescribed in...
• Section 2109.301 - Administrator Or Executor Rendering Account.
  (A) An administrator or executor shall render an account at any time other than a time otherwise mentioned in this section upon an order...
• Section 2109.302 - Guardian Or Conservator Rendering Account.
  (A) Every guardian or conservator shall render an account of the administration of the ward's estate at least once in each two years. The...
• Section 2109.303 - Testamentary Trustee Rendering Account.
  (A) Except as provided in division (B) of this section, every testamentary trustee shall, and every other fiduciary not subject to section 2109.301 or...
• Section 2109.31 - Citation To Fiduciary To File Account.
  (A) If a fiduciary neglects or refuses to file an account, inventory, certificate of notice of probate of will, or report when due according...
• Section 2109.32 - Hearing On Fiduciary's Account.
  (A) Every fiduciary's account required by section 2109.301, 2109.302, or 2109.303 of the Revised Code shall be set for hearing before the probate court....
• Section 2109.33 - Service Of Additional Notice - Exceptions To Account.
  A fiduciary may serve notice of the hearing upon the fiduciary's account to be conducted under section 2109.32 of the Revised Code, or may...
• Section 2109.34 - Representation In Account Proceeding.
  If an interest in an estate or trust is or may be possessed by persons who will compose a certain class upon the happening...
• Section 2109.35 - Effect Of Order Settling Account - Vacation Of Order.
  The order of the probate court upon the settlement of a fiduciary's account shall have the effect of a judgment and may be vacated...
• Section 2109.36 - Order Of Distribution.
  An application for an order of distribution of the assets of an estate or trust held by a fiduciary may be set for hearing...
• Section 2109.361 - Application By Beneficiary For Approval Of Third-party Distribution.
  (A) As used in this section, "third-party distribution" means the distribution by a fiduciary of an estate or trust of the assets of that...
• Section 2109.37 - Investment Of Trust Funds By Fiduciary.
  (A) Except as otherwise provided by law, including division (D) of this section, or by the instrument creating the trust, a fiduciary having funds...
• Section 2109.371 - Additional Eligible Investments.
  (A) In addition to those investments made eligible by section 2109.37 or 2109.372 of the Revised Code, investments may be made by a fiduciary...
• Section 2109.372 - Holding Cash Or Making Temporary Investments.
  (A) As used in this section: (1) "Short term trust-quality investment fund" means a short term investment fund that meets both of the following...
• Section 2109.38 - Retaining Unauthorized Investments.
  Sections 2109.37, 2109.371, and 2109.372 of the Revised Code do not prohibit a fiduciary from retaining any part of a trust estate as received...
• Section 2109.39 - Receiving Distribution In Kind.
  A fiduciary entitled to a distributive share of the assets of an estate or trust has the same right as other beneficiaries to accept...
• Section 2109.40 - Participation In Corporate Reorganization.
  Unless the instrument creating a trust forbids, a fiduciary may do all of the things that an individual holder might do with respect to...
• Section 2109.41 - Deposit Of Funds.
  Immediately after appointment and throughout the administration of a trust, but subject to section 2109.372 of the Revised Code, every fiduciary, pending payment of...
• Section 2109.42 - Liability For Failure To Invest.
  Subject to section 2109.372 of the Revised Code, a fiduciary who has funds belonging to a trust that are not required for payment of...
• Section 2109.43 - Personal Use Of Trust Property Prohibited.
  No fiduciary shall make any personal use of the funds or property belonging to a trust. For a violation of this section, the fiduciary...
• Section 2109.44 - Prohibited Transactions; Purchase Of Property.
  (A) Fiduciaries shall not buy from or sell to themselves and shall not have in their individual capacities any dealings with the estate, except...
• Section 2109.45 - Statement Filed Before Private Sale Confirmed.
  Before the probate court confirms a sale by an executor, administrator, guardian, assignee, or trustee made under an order allowing that officer to make...
• Section 2109.46 - Mortgage By Fiduciary.
  When it appears to be for the best interests of the entrusted estate, a fiduciary other than an executor or administrator may, with the...
• Section 2109.47 - Mortgage By A Guardian.
  Before the probate court makes an order authorizing a guardian to mortgage real property for the purpose of borrowing money to make repairs or...
• Section 2109.48 - Amount Of Loan.
  If on the final hearing of a fiduciary's complaint to borrow money and mortgage real property belonging to the trust it appears to be...
• Section 2109.49 - Investigation Of Trust.
  The probate judge, if the probate judge considers it necessary or upon the written application of any party interested in the trust estate, may...
• Section 2109.50 - Proceedings When Assets Concealed Or Embezzled.
  Upon complaint made to the probate court of the county having jurisdiction of the administration of an estate, a testamentary trust, or a guardianship...
• Section 2109.51 - Imprisonment For Disobeying Citation.
  If a person compelled under section 2109.50 of the Revised Code to appear for examination refuses to answer interrogatories propounded, the probate court shall...
• Section 2109.52 - Judgment On The Complaint.
  When passing on a complaint made under section 2109.50 of the Revised Code, the probate court shall determine, by the verdict of a jury...
• Section 2109.53 - Judgment Against Fiduciary - Removal.
  If a judgment is rendered against a fiduciary under section 2109.52 of the Revised Code, the fiduciary shall be removed by the probate court...
• Section 2109.54 - Certificate Of Judgment - Delivery To Clerk Of The Court Of Common Pleas.
  The fiduciary in whose favor a judgment has been rendered by the probate court under section 2109.52 of the Revised Code shall deliver to...
• Section 2109.55 - Judgment In Favor Of State.
  If a judgment is rendered in the name of the state under section 2109.52 of the Revised Code and there is no fiduciary within...
• Section 2109.56 - Conveyances.
  All gifts, grants, or conveyances of real property, rents, or personal property and all bonds, judgments, or executions made or obtained with intent to...
• Section 2109.57 - Appointment Of Trustee Of Funds Of Unknown Or Nonresident.
  In any action or proceeding pending in a court of record, if it is made to appear to the court that any person entitled...
• Section 2109.58 - Inventory By Fiduciary.
  Each fiduciary as to whom definite provision is not made in sections 2111.14 and 2115.02 of the Revised Code shall make and file within...
• Section 2109.59 - Failure Of Fiduciary To Make Payment Or Distribution.
  If a fiduciary, upon demand, refuses or neglects to pay any creditor whose claim has been allowed by the fiduciary and not subsequently rejected...
• Section 2109.60 - Probate Court May Send Case To The Court Of Common Pleas.
  When a proceeding set forth in section 2109.59 of the Revised Code is pending in the probate court, the court, on motion of any...
• Section 2109.61 - Bond - Parties To Suit.
  An action may be prosecuted on the bond of a fiduciary against any one or more of the obligors on the bond by any...
• Section 2109.62 - Court Termination Of Trust.
  (A) (1) Upon the filing of a motion by a trustee with the court that has jurisdiction over the trust, upon the provision of...
• Section 2109.66, 2109.67 - [Repealed].
  Effective Date: 01-01-2003
• Section 2109.68 - Allocation Of Receipts And Expenditures Between Principal And Income.
  Allocation of receipts and expenditures between principal and income by an executor, administrator, or testamentary trustee shall be as prescribed in sections 5812.01 to...
• Section 2109.69 - Application Of Trust Code Provisions To Testamentary Trusts.
  (A) Subject to division (B) of this section, the provisions of Chapters 5801. to 5811. of the Revised Code apply to testamentary trusts except...

Last modified: October 10, 2016