Ohio Revised Code Chapter 5807 - Trustees

• Section 5807.01 - Acceptance Or Rejection Of Trusteeship.
  (A) Except as otherwise provided in division (C) of this section, a person designated as trustee accepts the trusteeship by substantially complying with a...
• Section 5807.02 - Bond Of Trustee.
  (A) A trustee shall give bond to secure performance of the trustee's duties only if the court finds that a bond is needed to...
• Section 5807.03 - Cotrustees - Delegation - Liability.
  (A) If there are three or more cotrustees serving, the cotrustees may act by majority decision. (B) If a vacancy occurs in a cotrusteeship,...
• Section 5807.04 - Vacancy Defined - Priority In Filling - Additional Trustees.
  (A) A vacancy in a trusteeship occurs under any of the following circumstances: (1) A person designated as trustee rejects the trusteeship; (2) A...
• Section 5807.05 - Resignation Of Trustee - Notice - Approval.
  (A) A trustee may resign upon at least thirty days' notice to the qualified beneficiaries, the settlor, if living, and all cotrustees or with...
• Section 5807.06 - Removal Of Trustee - Grounds - Protective Measures.
  (A) The settlor, a cotrustee, or a beneficiary may request the court to remove a trustee, or the court may remove a trustee on...
• Section 5807.07 - Powers And Duties Of Removed Or Resigned Trustee.
  (A) Unless a cotrustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or...
• Section 5807.08 - Compensation Of Trustee.
  (A) If the terms of a trust do not specify the trustee's compensation, a trustee is entitled to compensation that is reasonable under the...
• Section 5807.09 - Reimbursement Of Trustee For Administrative Expenses.
  (A) A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for expenses that were properly incurred in...

Last modified: October 10, 2016