Ohio Revised Code Chapter 1111 - Trust Companies

• Section 1111.01 - Trust Company Definitions.
  As used in this chapter: (A) "Charitable trust" means a charitable remainder annuity trust as defined in section 664(d) of the Internal Revenue Code,...
• Section 1111.02 - Authority To Solicit Or Engage In Trust Business.
  (A) Except as provided in divisions (B) and (C) of this section, no person shall solicit or engage in trust business in this state...
• Section 1111.03 - Authority Of National Bank Or Federal Savings Association.
  (A) Notwithstanding any other provision of the Revised Code, any national bank that has been granted fiduciary powers by the comptroller of the currency...
• Section 1111.04 - Trust Company Pledging Securities.
  (A) Prior to soliciting or engaging in trust business in this state, a trust company shall pledge to the treasurer of state interest bearing...
• Section 1111.05 - Individual, Schedule, Or Blanket Fidelity Bonds For Employees And Officers.
  Prior to soliciting or engaging in trust business in this state, and at all times while engaging in trust business in this state, a...
• Section 1111.06 - Applying For Trust Company License.
  (A) Any person, other than a national bank with trust powers or a federal savings association with trust powers, proposing to solicit or engage...
• Section 1111.07 - No Transferring Or Assigning License.
  (A) A trust company's license to solicit or engage in trust business in this state is not transferable or assignable. (B) Subject to section...
• Section 1111.08 - Transferring Fiduciary Account Or Relationship.
  (A) A trust company, a national bank authorized to accept and execute trusts and doing business under authority granted by the comptroller of the...
• Section 1111.09 - Trust Service Offices.
  (A) (1) A trust service office is any location established by a trust company as a place for either of the following: (a) Persons...
• Section 1111.10 - [Repealed].
  Effective Date: 01-01-1968
• Section 1111.11 - Trust Company - Powers And Duties.
  A trust company may receive and hold moneys or property, in trust or as custodian, from executors, administrators, assignees, guardians, trustees, corporations, or individuals,...
• Section 1111.12 - Use Of Trust Companies By Courts.
  (A) Any court in this state may direct moneys or property that are under its control, paid into court by parties to legal proceedings,...
• Section 1111.13 - Investing Of Trust Funds.
  (A) (1) Except as provided in divisions (A)(2) and (G) of this section or as otherwise provided by the instrument creating the trust, a...
• Section 1111.14 - Collective Investments.
  A trust company may do any of the following: (A) Collectively invest assets it holds in any fiduciary capacity in any investment authorized by...
• Section 1111.15 - Purchase Of Services Or Products.
  (A) A trust company acting in any fiduciary capacity, including, but not limited to, the capacities described in section 1111.11 of the Revised Code,...
• Section 1111.16 - Fiduciary Capacity For Holding Money And Property.
  (A) A trust company may receive and hold money and other property in a fiduciary capacity generally in trust as trustee unless the instrument...
• Section 1111.17 - Will, Trust Instrument Or Other Authority Governs.
  Any will, trust instrument, or other authority under which a trust company acts shall govern the trust company in receiving, holding, investing, and distributing...
• Section 1111.18 - Separating Fiduciary Assets And Records.
  (A) A trust company shall segregate all assets held in any fiduciary capacity from the trust company's own assets, and shall keep its fiduciary...
• Section 1111.19 - [Repealed].
  Effective Date: 2008 SB196 07-06-2009
• Section 1111.20 - [Repealed].
  Effective Date: 01-01-1968
• Section 1111.21 - Stated Capital Security For Faithful Discharge Of Duties.
  (A) The stated capital of a trust company, with the liabilities of the shareholders existing under the terms of the shares, shall be held...
• Section 1111.22 - Records Kept Separate.
  (A) A trust company shall keep separate and complete records for each fiduciary account or relationship, including a record of any securities constituting assets...
• Section 1111.23 - Requirements For Oaths, Affidavits And Signatures.
  (A) (1) Whenever an executor, administrator, guardian, or conservator of estates, assignee, receiver, depositary, safekeeping agent, or trustee is required to take and subscribe...
• Section 1111.24, 1111.25 - [Repealed].
  Effective Date: 01-01-1968
• Section 1111.26 - Regulation By Superintendent And Division Of Financial Institutions.
  (A) Any trust company is subject to all powers of, and remedies and sanctions available to, the superintendent of financial institutions and the division...
• Section 1111.27 - Reporting To Superintendent.
  Each trust company licensed under this chapter shall file with the superintendent of financial institutions any report the superintendent may require, in the form...
• Section 1111.28 - Court Order For Investigation Of Trust.
  (A) Any judge of a court by order of which a trust company is acting in a fiduciary capacity may, upon the judge's own...
• Section 1111.29 - [Repealed].
  Effective Date: 01-01-1968
• Section 1111.31 - Ceasing Trust Business.
  (A) A trust company licensed under this chapter may cease doing trust business and voluntarily surrender its license to solicit or engage in trust...
• Section 1111.32 - Revoking Or Suspending License.
  (A) If the superintendent of financial institutions determines, after notice in accordance with section 1121.37 of the Revised Code and opportunity for hearing in...
• Section 1111.33 - Liquidating Assets.
  (A) If the superintendent of financial institutions revokes a trust company's license to do trust business in this state pursuant to division (A) of...
• Section 1111.99 - [Repealed].
  Effective Date: 2008 SB196 07-06-2009

Last modified: October 10, 2016