reglab/housing_qa huggingface dataset:
Ohio Rev Code § 1111.27 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.27 | Reporting to Superintendent.

Effective: January 1, 1997|Latest Legislation:  House Bill 538 - 121st General Assembly|Each trust company licensed under this chapter shall file with the superintendent of financial institutions any report the superintendent may require, in the form and manner and containing the information prescribed by the superintendent.
Ohio Rev Code § 1111.28 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.28 | Court Order for Investigation of Trust.

Effective: January 1, 1997|Latest Legislation:  House Bill 538 - 121st General Assembly|(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 motion or upon the written application of any party interested in the trust estate, appoint suitable persons to investigate the affairs and management of the trust company concerning the trust. The persons who conduct the investigation shall make a sworn report to the court of the investigation. The expense of the investigation shall be taxed as costs, either against the party requesting it or against the assets of the trust, as the court decrees. The court may examine any officers of the trust company, under oath or affirmation, as to the trust, or as to the affairs and management of the trust company, while the court is considering its appointment. The examination and answers of an authorized officer of a trust company under oath shall be received as the examination and answers of the trust company. The court may compel any of the officers of the trust company to attend these examinations and to answer questions relating to the proceedings.(B) For any cause applicable to natural persons serving in the same capacity, the court may order that the trust company promptly settle the trust.
Ohio Rev Code § 1112.02 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.02 | Applicability to Family Trust Company.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|Except as otherwise provided in this chapter or in any other provision of the Revised Code, a family trust company is subject to this chapter only to the extent that the family trust company transacts trust business in this state.
Ohio Rev Code § 1112.03 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.03 | Licensure.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|(A)(1) A family trust company may be, but is not required to be, licensed under this chapter. If a family trust company does not apply for a license under this chapter, it is not subject to supervision by the superintendent of financial institutions, so long as the family trust company meets the criteria as set forth in this chapter for an unlicensed family trust company. It shall, however, before commencing operations as a family trust company and annually thereafter, submit to the superintendent an affidavit signed by a senior officer of the family trust company verifying that the family trust company meets all of the requirements set forth under this chapter to transact business as an unlicensed family trust company in this state. The superintendent may charge and collect a fee from the unlicensed family trust company when the unlicensed family trust company files the affidavit with the superintendent.(2) If the superintendent requires a fee under division (A)(1) of this section, the superintendent shall adopt rules in accordance with Chapter 119. of the Revised Code to establish the amount of the fee.(B) Except as otherwise provided in this chapter, a family trust company licensed under this chapter is not subject to any other chapter of Title XI of the Revised Code.
Ohio Rev Code § 1112.04 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.04 | Powers of Family Trust Company.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|(A)¿A family trust company may do any of the following for the benefit of family clients only: (1)¿Act as a fiduciary, including as a personal representative, within and outside this state; (2)¿Act within and outside this state as advisory agent, agent, assignee, assignee for the benefit of creditors, attorney in fact, authenticating agent, bailee, bond or indenture trustee, conservator, conversion agent, curator, custodian, escrow agent, exchange agent, fiscal or paying agent, financial adviser, investment adviser, investment manager, managing agent, purchase agent, receiver, registrar, safekeeping agent, subscription agent, transfer agent except for public business entities, warrant agent, or in any similar capacity generally performed by corporate trustees and, in so acting, possess, purchase, sell, invest, reinvest, safe keep, or otherwise manage or administer the real or personal property of other persons; (3)¿Exercise the powers of a corporation or limited liability company organized under the laws of this state and any incidental powers to enable it to fully exercise any power authorized under this chapter. (B)¿¿A family trust company shall not do any of the following: (1)¿Except as otherwise provided in division (A)(10) of section 1112.05 of the Revised Code, receive money or its equivalent from any individual or entity for deposit, make loans of any nature to any individual or entity, or otherwise conduct a general banking business;  (2)¿Engage in trust business with, or advertise its services to, the public; (3)¿Use "trust" or any direct derivative of that word as any part of its name, unless it is a licensed family trust company. Last updated July 22, 2021 at 9:39 AM
Ohio Rev Code § 1112.05 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.05 | Family Trust Company Acting as Fiduciary of a Trust.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|(A)¿¿Notwithstanding any other provision of law to the contrary, while acting as the fiduciary of a trust, a family trust company may do all of the following:(1)¿Invest in a security of an investment company or investment trust for which the family trust company or a family affiliate provides services in a capacity other than as a fiduciary;(2)¿Place a security transaction using a broker that is a family affiliate;(3)¿Invest in an investment contract that is purchased from an insurance company or carrier owned by or affiliated with the family trust company or a family affiliate;(4)¿Enter into an agreement with a beneficiary or grantor of a trust relative to the appointment or compensation of the fiduciary or a family affiliate;(5)¿Transact with another trust, estate, guardianship, or conservatorship for which the family trust company is a fiduciary or in which a beneficiary has an interest;(6)¿Make an equity investment in a nonpublicly traded entity that may or may not be marketable and that is owned or controlled, either directly or indirectly, by one or more beneficiaries, family members, or family affiliates;(7)¿Deposit trust money in a financial institution that is owned or operated by a family affiliate;(8)¿Delegate the authority to conduct any transaction or action under this section to an agent of the family trust company or a family affiliate;(9)¿Purchase, sell, hold, own, or invest in any security, bond, real or personal property, stock, or other asset of a family affiliate;(10)¿Loan money to or borrow money from a family member or the family member's legal representative, another trust managed by the family trust company, or a family affiliate;(11) Act as proxy in voting any shares of stock that are assets of the trust;(12) Exercise any powers of control with respect to any interest in a business entity that is an asset of the trust, including, without limitation, the appointment of officers or directors who are family members;(13) Receive reasonable compensation for its services.(B) After full disclosure to the governing body of the family trust company is provided, nothing in this section prohibits a family trust company from entering into a transaction with or investing in any asset of any of the following:(1) A trust, estate, guardianship, or conservatorship for which the family trust company is a fiduciary;(2) A family affiliate;(3) Any other business entity, agent, or person for which a conflict of interest may exist. Last updated July 22, 2021 at 9:39 AM
Ohio Rev Code § 1112.06 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.06 | Oath.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|Each member of the governing board of a family trust company shall take and subscribe an oath that the member will administer the affairs of the family trust company diligently and honestly and that the member will not knowingly or willfully permit noncompliance with or violation of any of the laws relating to family trust companies.
Ohio Rev Code § 1112.07 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.07 | Application for License.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|(A) A family trust company wishing to be licensed under this chapter shall file an application with the superintendent of financial institutions. The application shall be in the form prescribed by the superintendent and shall be accompanied by a nonrefundable application fee of five thousand dollars.(B) Within sixty days after a complete application for a license is filed, the division of financial institutions shall investigate the relevant facts concerning the applicant. If the application involves investigation outside this state, the division may require the applicant to advance sufficient funds to pay any of the actual expenses of that investigation.(C) In determining whether to approve or disapprove an application for a family trust company license, the superintendent shall consider all of the following:(1) Whether the applicant is a corporation or limited liability company described in division (H) of section 1112.01 of the Revised Code;(2) Whether the applicant's articles of incorporation or articles of organization authorize the applicant to serve as a trustee;(3) Whether the applicant satisfies the requirements of section 1112.13 of the Revised Code;(4) Whether it is reasonable to believe the applicant will comply with applicable laws and observe sound fiduciary standards in conducting trust business in this state.(D) If an application for a license does not contain all of the information required or is not accompanied by the required fee, and if that information or fee is not submitted to the superintendent within twelve months after the superintendent first requests the information or fee, or within such later period as determined by the superintendent, the superintendent shall consider the application withdrawn. If an application is considered withdrawn under this division or if an applicant otherwise withdraws its application, the superintendent shall not issue a license to the applicant unless the applicant submits a new application and pays the required fee.(E) When an applicant has satisfied all prior conditions imposed by the superintendent in approving the applicant's application for a family trust company license and has pledged securities as required by section 1112.12 of the Revised Code, the superintendent shall issue the applicant a trust company license. A license issued pursuant to this section shall remain in force and effect until surrendered by the licensee pursuant to section 1112.17 of the Revised Code or suspended or revoked by the superintendent pursuant to section 1112.24 or 1112.25 of the Revised Code.
Ohio Rev Code § 1112.09 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.09 | Transfer and Assignment Prohibited.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|A family trust company's license to engage in trust business in this state is not transferable or assignable.
Ohio Rev Code § 1112.10 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.10 | More Than One Place of Business.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|Not more than one place of business shall be maintained under the same license issued under this chapter, but the superintendent of financial institutions may issue additional licenses to the same licensee. For every additional place of business in this state, the licensee shall submit an application in the form prescribed by the superintendent and pay a one-time nonrefundable fee of five hundred dollars. For every additional place of business outside of this state, the licensee shall give written notice thereof to the superintendent.
Ohio Rev Code § 1112.11 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.11 | Limitation of Powers Before Licensure.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|The existence of any licensed family trust company shall date from the filing of its articles of incorporation or articles of organization, from which time it shall have and may exercise the incidental powers conferred by law upon corporations or limited liability companies, as applicable. However, until it has obtained a license issued under this chapter, a family trust company shall not transact any business as a licensed family trust company, other than the election of officers, the taking and approving of their official bonds, the receipts of payment upon stock subscriptions, and other business incidental to its organization.
Ohio Rev Code § 1112.13 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.13 | Fidelity Bonds; Liability Insurance.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|(A)¿Each licensed family trust company shall obtain and maintain all of the following:(1) Fidelity bonds in such amounts as it considers advisable, but not less than an aggregate amount of one million dollars, on any active officer, manager, family member acting in a managerial capacity, or employee, whether or not such persons receive a salary or other compensation from the family trust company, to indemnify it against loss because of any dishonest, fraudulent, or criminal act or omission by any of the persons bonded, acting alone or in combination with any other person. The bonds may be in any form and may be paid for by the family trust company.(2) Directors and officers liability insurance coverage in the amount of at least one million dollars.(B)¿A licensed family trust company may also procure property and casualty insurance of a nature and with such coverage amounts as it considers advisable. Last updated July 22, 2021 at 9:37 AM
Ohio Rev Code § 1112.14 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.14 | Duties of Licensed Family Trust Company.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|Each licensed family trust company shall do all of the following:(A) Maintain office space in this state for the transaction of trust business and for the storage of, and access to, family trust company records;(B) Hold in this state at least two governing board meetings per year at which a quorum of the board members are physically present;(C) Employ, engage, or contract with at least one individual, on a part-time basis, to provide services in this state for the family trust company;(D) Perform at least three of the following trust administration activities wholly or partly in this state for the accounts under the management, administration, or custody of the family trust company:(1) Annual account reviews;(2) Annual investment reviews;(3) Trust accountings;(4) Account correspondence;(5) Completion of trust account tax returns;(6) Distribution of account statements.(E) Maintain all of the following:(1) A minimum of three directors or managers, at least one of whom is a resident of this state;(2) A minimum stockholders' equity of an amount determined by the division of financial institutions, which amount shall be at least two hundred thousand dollars but not more than five hundred thousand dollars. The equity may be comprised of cash, securities, including stock of a nonpublicly traded business entity, or other reasonably liquid assets exclusive of all organization expenses.(3) All applicable state and local business licenses and permits;(4) A bank account with a state chartered or national bank having a principal or branch office in this state.
Ohio Rev Code § 1112.15 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.15 | Board Meetings.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|The governing board of a licensed family trust company shall hold at least one regular meeting during each calendar quarter. At each of the quarterly meetings, the board, or an auditor selected by the board, shall thoroughly review the books, records, funds, and securities held by the family trust company. If the board selects an auditor, the auditor's findings shall be reported directly to the board. In lieu of the quarterly examinations, the board may accept an annual audit conducted by a certified public accountant or an independent auditor selected by the board.
Ohio Rev Code § 1112.16 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.16 | Other Licensing and Regulation Requirements.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|Except as otherwise provided in section 1112.04 of the Revised Code, a licensed family trust company has all the rights, privileges, and exemptions from licensing and regulation requirements that are granted by any law of this state to trust companies licensed under Chapter 1111. of the Revised Code, including, without limitation, the requirements for registration, licensing, and supervision set forth in Chapter 1707. of the Revised Code. A family trust company established under Chapter 1112. of the Revised Code is not subject to taxation under Chapter 5726. of the Revised Code.
Ohio Rev Code § 1112.18 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.18 | Recordkeeping.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|(A) A family trust company shall keep separate and complete records for each fiduciary account or relationship, including a record of any securities constituting assets of each particular estate, trust, or account.  (B) A family trust company may place securities it holds in any fiduciary capacity with a qualified custodian of securities. A qualified custodian of securities that has custody of securities held by a family trust company in a fiduciary capacity may place those securities with another qualified custodian of securities.  (C) A family trust company may register and hold securities it holds in any fiduciary capacity in its own name, in the name of a nominee, or, if appropriate to the securities, in bearer form. A custodian of securities that has custody of securities held by a family trust company in a fiduciary capacity may hold or place those securities in the name of the family trust company, the custodian's own name, the name of either of their nominees, or, if appropriate to the securities, in bearer form.  (D) A family trust company, and a custodian of securities that has custody of securities held by a family trust company in any fiduciary capacity, may hold securities it holds in any fiduciary capacity, including those held in bearer form, in bulk, whether or not the securities are certificated, without certification of ownership attached to the securities.  (E)(1) A family trust company that serves as a cofiduciary may, with the consent of the other cofiduciaries, do any of the following: (a) Place securities it holds in any fiduciary capacity with a custodian of securities, as provided in division (B) of this section;  (b) Register and hold securities it holds in any fiduciary capacity in its own name, in the name of a nominee, or in bearer form, as provided in division (C) of this section;  (c) Hold securities it holds in any fiduciary capacity in bulk, as provided in division (D) of this section.  (2) Any person that serves as a cofiduciary with a family trust company for any property in this state consisting of securities may consent to the family trust company taking any of the actions authorized by division (E)(1) of this section.
Ohio Rev Code § 1112.19 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1112 | Ohio Family Trust Company Act|Section 1112.19 | Retention and Reproduction of Documents.

Effective: September 14, 2016|Latest Legislation:  House Bill 229 - 131st General Assembly|(A) A family trust company may, for any business purpose, retain a document, paper, or other instrument. A family trust company may record by use of a process to record, copy, photograph, or store a representation of the original document, paper, or other instrument or record if all of the following apply: (1) The process correctly and accurately copies or reproduces, or provides a means for correctly and accurately copying or reproducing, the original document, paper, or other instrument or record with regard to both its substance and appearance, except the copy or reproduction need not reflect the original paper or other medium, size, or color, unless the medium, size, or color is necessary to establish the authenticity of the original.  (2) The process does not permit the recording, copy, photographic image, or stored representation of the original document, paper, or other instrument or record to be altered or manipulated.  (3) Any medium the process uses to record, copy, photograph, or store a representation of the original document, paper, or other instrument or record is a durable medium for retaining and reproducing records.  (B) The superintendent of financial institutions shall identify and publish a list of processes that satisfy the conditions of division (A) of this section.  (C) Each family trust company that uses a process authorized by this section to preserve any of its records shall also provide for safekeeping and for examining, viewing, or projecting the records preserved, and for producing reproductions of the original records.