reglab/housing_qa huggingface dataset:
Ohio Rev Code § 5814.10 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5814 | Ohio Transfers to Minors Act|Section 5814.10 | Applicability and Construction.

Effective: April 6, 2017|Latest Legislation:  House Bill 432 - 131st General Assembly|(A) Sections 5814.01 to 5814.10 of the Revised Code shall be construed to effectuate their general purpose to make uniform the law of those states that enact similar provisions.(B) Sections 5814.01 to 5814.10 of the Revised Code shall not be construed as providing an exclusive method for making gifts or transfers to minors.(C) Nothing in sections 5814.01 to 5814.10 of the Revised Code shall affect gifts made under former sections 1339.19 to 1339.28 of the Revised Code, nor the powers, duties, and immunities conferred by gifts in such manner upon custodians and persons dealing with custodians. Sections 5814.01 to 5814.10 of the Revised Code henceforth apply, however, to all gifts made in a manner and form prescribed in former sections 1339.19 to 1339.28 of the Revised Code, except insofar as the application impairs constitutionally vested rights. Sections 5814.01 to 5814.10 of the Revised Code shall be construed as a continuation of the provisions of former sections 1339.19 to 1339.28 of the Revised Code, according to the language employed, and not as a new enactment.(D) Nothing in sections 5814.01 to 5814.10 of the Revised Code, as of May 7, 1986, shall affect gifts made under those sections as they existed prior to May 7, 1986, or the powers, duties, and immunities conferred by the gifts in any manner upon custodians and persons dealing with custodians. Sections 5814.01 to 5814.10 of the Revised Code, as of May 7, 1986, hereafter apply to all gifts made in a manner and form prescribed in those sections as they existed prior to May 7, 1986, except to the extent that the application of those sections, as of May 7, 1986, would impair constitutionally vested rights.
Ohio Rev Code § 5815.01 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.01 | Inheritance and Bequest Defined.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|Except when the intent of the settlor clearly is to the contrary, the following rules of construction shall apply in interpreting the terms "inheritance" and "bequest":(A) The term "inheritance," in addition to its meaning at common law or under any other section or sections of the Revised Code, includes any change of title to real property by reason of the death of the owner of that real property, regardless of whether the owner died testate or intestate.(B) The term "bequest," in addition to its meaning at common law or under any other section or sections of the Revised Code, includes any disposition of real property that occurs as a result of the death of the settlor.
Ohio Rev Code § 5815.02 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.02 | Issuers of Securities and Holders of Record.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|As used in sections 5815.02 and 5815.03 of the Revised Code:(A) "Fiduciary" includes a trustee under any trust, expressed, implied, resulting, or constructive; an executor, administrator, public administrator, guardian, committee, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a public or private corporation, or public officer; or any other person acting in a fiduciary capacity for any person, trust, or estate.(B) "Good faith" includes an act done honestly, whether it is done negligently or not.(C) "Issuer" includes domestic corporations, companies, associations, and trusts; foreign corporations, companies, associations, and trusts, to the extent that securities issued by them are held of record by persons in this state or are held on deposit in this state, and to the extent that such foreign corporation, company, association, or trust is a holder of record of, or otherwise interested in, securities of domestic corporations, companies, associations, or trusts; and also the transfer agents and registrars of the issuer and the depositories for its securities.(D) "Person" includes a corporation, partnership, association, or two or more persons having a joint or common interest.(E) "Securities" includes the items in the following enumeration, which, however, is not exclusive:(1) Shares, share certificates, and other certificates and evidences of ownership or participation in property, assets, or trust estate; bonds, notes, debentures, certificates, or evidences of indebtedness, certificates of interest or participation, collateral trust certificates, equipment-trust certificates, preorganization or subscription certificates or receipts, and voting-trust certificates; passbooks or certificates of deposit of money, securities, or other property; scrip certificates, fractional interests certificates, and, in general, interests or instruments commonly known as securities, and certificates of interest or participation in, temporary or interim certificates or receipts for, or warrants or rights to subscribe to, purchase, or receive, any of the foregoing, whether such securities were issued by the issuer in its corporate capacity, in its individual capacity, or in a fiduciary capacity;(2) Securities that were issued originally by other corporations, companies, associations, or trusts, but have become the securities of the present issuer, individually or as a fiduciary.
Ohio Rev Code § 5815.03 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.03 | Issuer of Securities May Treat Holders of Record as Competent.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|Unless there has been delivered to an issuer a certified copy of an order, judgment, or decree of a court, judge, or administrative body or official, the legal effect of which is to restrict, suspend, or remove such capacity or authority, the issuer may treat all persons in whose names its securities are of record on its records as being of full age and competent and as having capacity and authority to exercise all rights of ownership in respect of the securities, including the right to receive and to give receipts for payments and distributions, the right to transfer the securities, and the right to vote or to give consent in person or by proxy, notwithstanding any description, limitation, or qualification appearing on the securities or on the records, any reference thereon to another instrument or to any fiduciary or pledgee or other relationship, or any knowledge or notice, actual or constructive, of the right, interest, or claim of any other person or of the infancy or lack of capacity or authority of the persons in whose names the securities are of record.The issuer may treat a fiduciary as having capacity and authority to exercise all rights of ownership in respect of the securities that are of record in the name of a decedent holder, of a person in conservation, receivership, or bankruptcy, or of a minor, incompetent person, or person under disability, and the issuer shall be protected in any action taken or suffered by it in reliance upon any instrument showing the appointment of the fiduciary.The issuer is not liable for loss caused by any act done or omitted by it under this section. The issuer need not see to the execution of any trust, or to the observance or performance of any obligation of a holder of record, a fiduciary, or a pledgee of the securities, and it need not inquire or inform itself concerning those matters.This section does not enlarge the capacity, right, or authority of any holder of record of the securities as against any person other than the issuer, nor prevent any court of competent jurisdiction from enforcing or protecting any right, title, or interest in the securities in any person who is not a holder of record the securities.This section does not protect any issuer who participates with a fiduciary in a breach of the fiduciary's trust with knowledge of such facts that the action of the issuer amounts to bad faith.
Ohio Rev Code § 5815.04 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.04 | Uniform Fiduciary Act Definitions.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|As used in sections 5815.04 to 5815.11 of the Revised Code:(A) "Bank" includes any person, carrying on the business of banking and any financial institution defined in section 5725.01 of the Revised Code.(B) "Fiduciary" includes a trustee under any trust, expressed, implied, resulting, or constructive, an executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust, or estate.(C) "Person" includes a corporation, partnership, association, or two or more persons having a joint or common interest.(D) "Principal" includes any person to whom a fiduciary as such owes an obligation.(E) "Good faith" includes an act when it is in fact done honestly.
Ohio Rev Code § 5815.05 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.05 | Transferee Not Responsible for Proper Application of Money.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|A person who in good faith pays or transfers to a fiduciary any money or other property that the fiduciary as such is authorized to receive is not responsible for the proper application of the money or other property by the fiduciary. Any right or title acquired from the fiduciary in consideration of the payment or transfer is not invalid because of a misapplication by the fiduciary.
Ohio Rev Code § 5815.06 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.06 | Deposit in Name of Fiduciary as Such - Liability of Bank.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|If a deposit is made in a bank to the credit of a fiduciary as such, the bank may pay the amount of the deposit or any part thereof upon the check of the fiduciary, signed with the name in which the deposit is entered, without being liable to the principal, unless the bank pays the check with actual knowledge that the fiduciary is committing a breach of the obligation as fiduciary in drawing the check or with knowledge of such facts that its action in paying the check amounts to bad faith.If such a check is payable to the drawee bank and is delivered to it in payment of or as security for a personal debt of the fiduciary to it, the bank is liable to the principal if the fiduciary in fact commits a breach of the obligation as fiduciary in drawing or delivering the check.
Ohio Rev Code § 5815.07 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.07 | Check Drawn by Fiduciary Upon Account of His Principal - Liability of Bank.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|If a check is drawn upon the principal's account by a fiduciary who is empowered to do so, the bank may pay the check without being liable to the principal, unless the bank pays the check with actual knowledge that the fiduciary is committing a breach of the obligation as fiduciary in drawing the check or with knowledge of such facts that its action in paying the check amounts to bad faith.If such a check is payable to the drawee bank and is delivered to it in payment of or as security for a personal debt of the fiduciary to it, the bank is liable to the principal if the fiduciary in fact commits a breach of the obligation as fiduciary in drawing or delivering the check.
Ohio Rev Code § 5815.08 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.08 | Deposit to Personal Credit of Fiduciary.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|If a fiduciary makes a deposit in a bank to the fiduciary's personal credit of checks drawn by the fiduciary upon an account in the fiduciary's own name as fiduciary, checks payable to the fiduciary as fiduciary, checks drawn by the fiduciary upon an account in the name of the principal if the fiduciary is empowered to draw checks thereon, checks payable to the principal and indorsed by the fiduciary if the fiduciary is empowered to indorse the checks, or if the fiduciary otherwise makes a deposit of funds held by the fiduciary as fiduciary, the bank receiving the deposit is not bound to inquire whether the fiduciary is committing a breach of the obligation as fiduciary.The bank may pay the amount of the deposit or any part thereof upon the personal check of the fiduciary without being liable to the principal, unless the bank receives the deposit or pays the check with actual knowledge that the fiduciary is committing a breach of the obligation as fiduciary in making the deposit or in drawing the check, or with knowledge of such facts that the action of the bank in receiving the deposit or paying the check amounts to bad faith.
Ohio Rev Code § 5815.09 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.09 | Deposit in Name of Two or More Trustees - Checks.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|When a deposit is made in a bank in the name of two or more persons as trustees and a check is drawn upon the trust account by any trustee authorized to do so by the other, neither the payee or other holder nor the bank is bound to inquire whether it is a breach of trust to authorize the trustee to draw checks upon the trust account and neither is liable unless the circumstances are such that the action of the payee or other holder or the bank amounts to bad faith.
Ohio Rev Code § 5815.10 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.10 | Interpretation and Construction.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|Sections 5815.04 to 5815.11 of the Revised Code shall be construed to effectuate their general purpose of making the law of this state uniform with the law of those states that enact similar legislation.
Ohio Rev Code § 5815.11 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.11 | Rules of Law and Equity Applicable.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|In any case not provided for in sections 5815.04 to 5815.11 of the Revised Code, the rules of law and equity, including the law merchant and those rules of law and equity relating to trusts, agency, negotiable instruments, and banking apply.
Ohio Rev Code § 5815.12 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.12 | Power of Appointment Defined.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|As used in sections 5815.13, 5815.14, and 5815.15 of the Revised Code, "power of appointment" means any power that is in effect a power to appoint, however created, regardless of the nomenclature used in creating the power and regardless of connotations under the law of property, trusts, or wills. The power includes but is not limited to powers which are special, general, limited, absolute, in gross, appendant, appurtenant, or collateral.
Ohio Rev Code § 5815.13 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.13 | Exercising Power of Appointment.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|Any power of appointment that is not subject to an express condition that it may be exercised only by a donee or holder of a greater age may be exercised by any donee or holder of the age of eighteen years or over.
Ohio Rev Code § 5815.14 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.14 | Release and Disclaimer of a Power.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|Any power of appointment may be released in whole or in part by the donee or holder of the power by an instrument in writing, signed and acknowledged in the manner prescribed for the execution of deeds. No such release is ineffective because it was given either for or without consideration, because it was signed and acknowledged before June 3, 1943, or because no delivery is made of a copy of the release as provided for in section 5815.15 of the Revised Code.Sections 5815.14 and 5815.15 of the Revised Code do not affect the validity of a release of a power of appointment effected in any other form or manner.A donee or holder of a power of appointment may disclaim the same at any time, wholly or in part, in the same manner and to the same extent as the donee or holder of the power might release it.
Ohio Rev Code § 5815.15 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.15 | Notice of Release.

Effective: January 30, 2014|Latest Legislation:  House Bill 72 - 130th General Assembly|No fiduciary or other person having the possession or control of any property subject to a power of appointment, other than the donee or holder of such power, has notice of a release of the power until a copy of the release is delivered to the fiduciary or other person having possession or control. No purchaser or mortgagee of real property subject to a power of appointment has notice of a release of the power until a copy of the release is delivered to the officer charged by law with the recording of deeds in the county in which the property is situated. If the property is in this state, the county recorder to whom a release is delivered shall record the release in the official records, and shall charge a fee computed in the same manner as the fee charged for recording deeds.
Ohio Rev Code § 5815.16 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.16 | Duty of Attorney to Third Parties.

Effective: March 22, 2019|Latest Legislation:  House Bill 595 - 132nd General Assembly|(A) Absent an express agreement to the contrary, an attorney who performs legal services for a fiduciary, by reason of the attorney performing those legal services for the fiduciary, has no duty or obligation in contract, tort, or otherwise to any third party to whom the fiduciary owes fiduciary obligations.(B) Any communication between an attorney and a client who is acting as a fiduciary is privileged and protected from disclosure to third parties to whom the fiduciary owes fiduciary duties to the same extent as if the client was not acting as a fiduciary. (C) As used in this section, "fiduciary" means a trustee under an express trust or an executor or administrator of a decedent's estate.
Ohio Rev Code § 5815.21 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.21 | Federal Estate Tax Marital Deduction Distributions.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|Whenever the executor of a will or the trustee of a testamentary or inter vivos trust is permitted or required to select assets in kind to satisfy a gift, devise, or bequest, whether outright or in trust, intended to qualify for the federal estate tax marital deduction prescribed by the United States "Internal Revenue Code of 1954," 68A Stat. 392, 26 U.S.C.A. 2056, or any comparable federal statute enacted after July 20, 1965, and the will or trust instrument empowers or requires the fiduciary to satisfy such gift, devise, or bequest by allocating assets thereto at any values other than market values at the date of satisfaction of such gift, devise, or bequest, the executor or trustee shall satisfy such gift, devise, or bequest by distribution of assets having a value fairly representative in the aggregate of appreciation or depreciation in the value of all property, including cash, available for distribution in satisfaction of such gift, devise, or bequest, unless the will or trust instrument expressly requires that distribution be made in a manner so as not to be fairly representative of such appreciation or depreciation.
Ohio Rev Code § 5815.23 (2021)
2021 Ohio Revised Code|Title 58 | Trusts|Chapter 5815 | Miscellaneous Provisions|Section 5815.23 | Effect of Requiring or Permitting Accumulation for More Than One Year of Any Income of Property.

Effective: April 6, 2017|Latest Legislation:  House Bill 432 - 131st General Assembly|(A) Except as provided in division (B) of this section, an instrument that creates an inter vivos or testamentary trust shall not require or permit the accumulation for more than one year of any income of property that satisfies both of the following:(1) The property is granted to a surviving spouse of the testator or other settlor.(2) The property qualifies for the federal estate tax marital deduction allowed by subtitle B, Chapter 11 of the "Internal Revenue Code of 1986," 26 U.S.C. 2056, as amended, the estate tax marital deduction allowed by division (A) of section 5731.15 of the Revised Code, or the qualified terminable interest property deduction allowed by division (B) of section 5731.15 of the Revised Code.(B)(1) Division (A) of this section does not apply if an instrument that creates an inter vivos or testamentary trust expressly states the intention of the testator or other settlor that obtaining a marital deduction or a qualified terminable interest property deduction as described in division (A)(2) of this section is less important than requiring or permitting the accumulation of income of property in accordance with a provision in the instrument that requires or permits the accumulation for more than one year of any income of property.(2) Division (A) of this section does not apply to any beneficiary of an inter vivos or testamentary trust other than the surviving spouse of the testator or other settlor or to any inter vivos or testamentary trust of which the surviving spouse of the testator or other settlor is a beneficiary if an interest in property does not qualify for a marital deduction or a qualified terminable interest property deduction as described in division (A)(2) of this section.(C) Divisions (A) and (B) of this section are intended to codify existing fiduciary and trust law principles relating to the interpretation of a testator's or other settlor's intent with respect to the income provisions of a trust. Divisions (A) and (B) of this section apply to trust instruments executed prior to and existing on October 1, 1996, or executed thereafter. The trustee of a trust described in division (A) or (B) of this section, in a written trust amendment, may elect to not apply divisions (A) and (B) of this section to the trust. Any election of that nature, when made, is irrevocable.