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17 chapters · 226 sections in this title.
Ohio Rev. Code Ann. § 5813.01 Institutional trust funds act definitions
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As used in sections 5813.01 to 5813.07 of the Revised Code:(A) "Institution" means an incorporated or unincorporated organization that is organized and operated exclusively for educational, religious, charitable, or other eleemosynary purposes or a governmental organization to th…
Ohio Rev. Code Ann. § 5813.02 Maximum annual distribution from institutional trust fund
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(A) Subject to division (D) of this section and section 5813.03 of the Revised Code, during any fiscal year in which income may be or is required to be distributed to an institution from an institutional trust fund, income means the greater of the following:(1) The income from th…
Ohio Rev. Code Ann. § 5813.03 Settlor's intention that income be otherwise determined
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(A) Division (A) of section 5813.02 of the Revised Code does not apply if the applicable trust instrument expressly indicates the settlor's intention that income is to be otherwise than as defined in division (A) of section 5813.02 of the Revised Code.(B) A restriction upon the d…
Ohio Rev. Code Ann. § 5813.04 Standard of care
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(A) In administering the powers to request amounts from a trustee of an institutional trust fund in accordance with divisions (A) and (B) of section 5813.02 of the Revised Code, members of a governing board of an institution shall exercise ordinary business care and prudence unde…