reglab/housing_qa huggingface dataset:
Ohio Rev Code § 1111.06 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.06 | Applying for Trust Company License.

Effective: January 1, 2018|Latest Legislation:  House Bill 49 - 132nd General Assembly|(A) Any person, other than a national bank with trust powers or a federal savings association with trust powers, proposing to solicit or engage in trust business in this state shall apply to the superintendent of financial institutions to be licensed as a trust company. The superintendent shall approve or disapprove the application within sixty days after accepting it.(B) In determining whether to approve or disapprove an application for a trust company license, the superintendent shall consider all of the following:(1) Whether the applicant is a corporation described in division (A)(1) of section 1111.02 of the Revised Code;(2) Whether the applicant's articles of incorporation or association authorize the applicant to serve as a trustee;(3) If the applicant is not a state bank, whether the applicant is currently qualified to do and is engaging in trust business in the state or country under the laws of which the applicant is organized;(4) Whether the applicant satisfies the requirements of section 1111.05 of the Revised Code;(5) 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;(6) If the applicant is not a state bank, whether the applicant is subject to comprehensive supervision and regulation of its fiduciary activities by appropriate authorities of the state or country under the laws of which the applicant is organized.(C) In approving an application for a trust company license, the superintendent may impose any condition the superintendent determines to be appropriate.(D) When an applicant has satisfied all prior conditions imposed by the superintendent in approving the applicant's application for a trust company license and has pledged securities as required by section 1111.04 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 1111.31 of the Revised Code or suspended or revoked by the superintendent pursuant to section 1111.32 of the Revised Code.
Ohio Rev Code § 1111.07 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.07 | No Transferring or Assigning License.

Effective: January 1, 2018|Latest Legislation:  House Bill 49 - 132nd General Assembly|(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 2109.28 of the Revised Code, if any trust company enters into a merger or consolidation in which the trust company is not the surviving corporation, or transfers all or substantially all of its assets and liabilities to another corporation, the resulting, surviving, or transferee corporation shall succeed the trust company as fiduciary as a matter of law and without necessity to do anything further, if the resulting, surviving, or transferee corporation is a trust company or a national bank or federal savings association authorized to accept and execute trusts and doing business under authority granted by the office of the comptroller of the currency. If the trust company is not the surviving corporation of a merger, enters a consolidation, or after transferring substantially all of its assets and liabilities ceases to solicit or engage in trust business in this state, the trust company shall surrender its trust company license in accordance with section 1111.31 of the Revised Code.
Ohio Rev Code § 1111.08 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.08 | Transferring Fiduciary Account or Relationship.

Effective: January 1, 2018|Latest Legislation:  House Bill 49 - 132nd General Assembly|(A) A trust company, or a national bank or federal savings association authorized to accept and execute trusts and doing business under authority granted by the office of the comptroller of the currency may transfer all or part of its trust business in this state to another trust company or to a national bank or federal savings association authorized to accept and execute trusts and doing business under authority granted by the office of the comptroller of the currency, if all of the following have occurred:(1) Not less than sixty days before consummation of the transfer, either the transferor or transferee, or both, for each fiduciary account or relationship to be transferred, has given written notice, by regular mail to the most recent address shown on the records of the transferor, to all of the following that apply:(a) Each court having jurisdiction over the fiduciary account or relationship;(b) Each cofiduciary of the fiduciary account or relationship;(c) Each surviving settlor of the trust;(d) Each person that, alone or in conjunction with others, has the power to remove the trust company as fiduciary or appoint a successor fiduciary;(e) Except in the case of a trust described in section 401(a) of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 401(a), as amended, each adult beneficiary currently receiving or entitled as a matter of right to receive a distribution of principal or income from the trust, estate, or fund;(f) In the case of a trust described in section 401(a) of the "Internal Revenue Code of 1986," 100 Stat. 2085, 26 U.S.C.A. 401(a), as amended, the employer or employee organization, or both, responsible for the maintenance of the trust.(2) The transferor has filed a certified copy of the agreement for the sale with the superintendent of financial institutions.(B)(1) The transfer of a fiduciary account or relationship pursuant to division (A) of this section results in the transferee being substituted for the transferor as fiduciary as a matter of law and without necessity to do anything further.(2) The transfer of a fiduciary account or relationship pursuant to division (A) of this section does neither of the following:(a) Impair the right of any person that, alone or in conjunction with others, has the power to remove a fiduciary or appoint a successor fiduciary;(b) Absolve or discharge a transferor from any liability arising out of its breach of any fiduciary duty or obligation to the account prior to the transfer.
Ohio Rev Code § 1111.09 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.09 | Trust Service Offices.

Effective: January 1, 2018|Latest Legislation:  House Bill 49 - 132nd General Assembly|(A)(1) A trust service office is any location established by a trust company as a place for either of the following:(a) Persons seeking the services of the trust company, or information about those services, to contact representatives of the trust company regarding the trust company's business.(b) The trust company's representatives to contact the trust company's customers, or potential customers, and their representatives.(2) None of the following is a trust service office:(a) Any location where a trust company conducts its operations but does not provide facilities for contact with its customers or contact by the public with the trust company;(b) Any location that is the home or place of work or business or used for the convenience of the trust company's customer, potential customer, or a representative of a customer or potential customer where the trust company's representative's contact with its customer, potential customer, or a representative of a customer or potential customer is merely incidental to the purposes for which the location is maintained and to the activities conducted there;(c) Any location where another person, including a financial institution, conducts its business and persons inquiring about trust services are merely referred to a trust company, even if referrals to a particular trust company are by exclusive arrangement and compensated.(B) A trust company may, consistent with the trust company's safe and sound operation and the law, establish and maintain trust service offices at any location, including the following:(1) If clearly identified and distinguished, at a location where another person, including a financial institution, also conducts business;(2) If the trust company is a bank, savings and loan association, or savings bank, at any of its approved banking offices or main office or branches.(C)(1) A trust company shall give notice in writing to the superintendent of financial institutions prior to establishing, relocating, or closing a trust service office in this state.(2) A trust company that is a state bank also shall give notice in writing to the superintendent prior to establishing, relocating, or closing a trust service office outside this state.
Ohio Rev Code § 1111.11 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.11 | Trust Company - Powers and Duties.

Effective: January 1, 1997|Latest Legislation:  House Bill 538 - 121st General Assembly|A trust company may receive and hold moneys or property, in trust or as custodian, from executors, administrators, assignees, guardians, trustees, corporations, or individuals, and engage in those activities constituting the trust business, and any activities incidental to the trust business, including any of the following:(A) Acting as trustee under any instrument creating a trust for the care and management of property under the same circumstances and in the same manner as any other trustee;(B) Accepting and executing any trusts, duties, and powers that may be granted to it regarding holding, managing, investing, or disposing of any property, real or personal, that may be committed or transferred to or vested in a trust estate and any rents, income, profits, and proceeds of that property or the sale of that property;(C) Accepting and executing all trusts committed to it by order of any court of any state, the United States, or any country, to act as executor, administrator, assignee, guardian, receiver, or trustee, or in any other fiduciary capacity, and taking title to any real estate that is the subject of any trust committed to it by any court;(D) Acting as agent for holding, managing, investing, or disposing of any property, real or personal, and any rents, income, profits, or proceeds of that property or the sale of that property;(E) Acting as trustee under any mortgage, deed of trust, or indenture for securing bonds or other debt securities issued by any corporation, association, state, county, municipal corporation, or political subdivision;(F) Accepting and executing any other corporate or municipal trusts;(G) Acting as agent or trustee for registering, countersigning, or transferring certificates of stock, bonds, or other evidences of indebtedness of a corporation, association, state, county, municipal corporation, or political subdivision.
Ohio Rev Code § 1111.12 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.12 | Use of Trust Companies by Courts.

Effective: January 1, 1997|Latest Legislation:  House Bill 538 - 121st General Assembly|(A) Any court in this state may direct moneys or property that are under its control, paid into court by parties to legal proceedings, or brought into court by reason of an order, judgment, or decree, to be placed with a trust company for safekeeping.(B) Any court in this state may appoint a trust company to act as executor, administrator, assignee, guardian, receiver, or trustee, or in any other fiduciary capacity, for any estate or property of any kind.(C) No trust company shall be required by a court to assume or execute any trust the trust company has not consented to assume or execute.
Ohio Rev Code § 1111.15 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.15 | Purchase of Services or Products.

Effective: January 1, 2007|Latest Legislation:  House Bill 416 - 126th General Assembly|(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, may purchase any service or product, including, but not limited to, insurance or securities underwritten or otherwise distributed by the trust company or by an affiliate, through or directly from the trust company or an affiliate or from a syndicate or selling group that includes the trust company or an affiliate, provided that the purchase is otherwise prudent under the Ohio Uniform Prudent Investor Act and the compensation for the service or product is reasonable and is not prohibited by the instrument governing the fiduciary relationship. The compensation for the service or product may be in addition to the compensation that the trust company is otherwise entitled to receive from the fiduciary account. (B) A trust company shall disclose at least annually any purchase authorized by this section that was made by the trust company during that reporting period. The disclosure shall be given, in writing or electronically, to all persons entitled to receive statements of account activity, and shall include any capacities in which the trust company or an affiliate acts for the issuer of the securities or the provider of the products or services and the fact that the trust company or an affiliate may have an interest in the products or services.(C) This section shall apply to the purchase of securities made at the time of the initial offering of the securities or at any time thereafter.
Ohio Rev Code § 1111.16 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.16 | Fiduciary Capacity for Holding Money and Property.

Effective: January 1, 1997|Latest Legislation:  House Bill 538 - 121st General Assembly|(A) A trust company may receive and hold money and other property in a fiduciary capacity generally in trust as trustee unless the instrument or other authority appointing the trust company as trustee directs that the money and property be held, in whole or in part, separately from other money and property held in a fiduciary capacity.(B) Moneys held in a fiduciary capacity by a trust company may, pending distribution, payment of current obligations, or investment, be treated as a deposit in the trust company. Such moneys may also be deposited in an affiliate of the trust company that is authorized to receive deposits, or in any other institution that is authorized to receive deposits. In the event the trust company, affiliate, or other institution in which such moneys are deposited becomes insolvent, closes, or is suspended, the claims for such moneys shall be preferred. The assets of the trust company, affiliate, or other institution in which such moneys are deposited shall be impressed with a trust for the payment of such claims.
Ohio Rev Code § 1111.17 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.17 | Will, Trust Instrument or Other Authority Governs.

Effective: January 1, 1997|Latest Legislation:  House Bill 538 - 121st General Assembly|Any will, trust instrument, or other authority under which a trust company acts shall govern the trust company in receiving, holding, investing, and distributing money and other property the trust company holds in a fiduciary capacity.
Ohio Rev Code § 1111.18 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.18 | Separating Fiduciary Assets and Records.

Effective: January 1, 1997|Latest Legislation:  House Bill 538 - 121st General Assembly|(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 records separate and distinct from the trust company's other records.(B) A trust company shall not use funds received in any fiduciary capacity in conducting the trust company's business. However, if the trust company is a bank, savings and loan association, or savings bank authorized to engage in business in addition to trust business, the trust company may invest the funds received in a fiduciary capacity in a deposit account or instrument of the trust company as specifically permitted by section 1111.13 of the Revised Code. No person shall access any property held by a trust company in trust to satisfy a liability of the trust company.(C) A trust company shall not accept or, if the trust company is a bank, savings and loan association, or savings bank authorized to engage in business in addition to trust business, shall not in its trust department accept, deposits of current funds subject to check or the deposit of checks, drafts, bills of exchange, or other items for collection or exchange purposes.
Ohio Rev Code § 1111.21 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.21 | Stated Capital Security for Faithful Discharge of Duties.

Effective: January 1, 1997|Latest Legislation:  House Bill 538 - 121st General Assembly|(A) The stated capital of a trust company, with the liabilities of the shareholders existing under the terms of the shares, shall be held as security for the faithful discharge of the duties undertaken by the trust company in respect to any trust or in any fiduciary capacity.(B)(1) Except as provided in division (B)(2) of this section, no bond or other security shall be required from any trust company with respect to any trust or when the trust company is appointed executor, administrator, guardian, trustee, receiver, assignee, or safekeeping agent.(2) A court or officer appointing a trust company executor, administrator, guardian, trustee, receiver, assignee, or safekeeping agent may, upon proper application, require the trust company to give security for the faithful performance of its duties. The court or officer may revoke the appointment if the trust company fails to give the security required.
Ohio Rev Code § 1111.22 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.22 | Records Kept Separate.

Effective: January 1, 1997|Latest Legislation:  House Bill 538 - 121st General Assembly|(A) A 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 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 trust company in a fiduciary capacity may place those securities with another qualified custodian of securities.(C) A 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 trust company in a fiduciary capacity may hold or place those securities in the name of the 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 trust company, and a custodian of securities that has custody of securities held by a 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) A trust company is liable to an estate, trust, or other fiduciary account for any loss resulting from any acts or omissions of the trust company, a nominee, or a custodian of securities relating to securities the trust company holds in any fiduciary capacity.(F)(1) A 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 trust company for any property in this state consisting of securities may consent to the trust company taking any of the actions authorized by division (F)(1) of this section.
Ohio Rev Code § 1111.23 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.23 | Requirements for Oaths, Affidavits and Signatures.

Effective: January 1, 1997|Latest Legislation:  House Bill 538 - 121st General Assembly|(A)(1) Whenever an executor, administrator, guardian, or conservator of estates, assignee, receiver, depositary, safekeeping agent, or trustee is required to take and subscribe an oath or to make an affidavit, a trust company acting in that capacity may satisfy the requirement through the oath or affidavit of any authorized officer.(2) A trust company that takes and subscribes an oath or makes an affidavit is liable for its failure to perform any of the duties required by law to be performed by an individual acting in like capacity, and is subject to the same penalties for the failure as would be applicable to an individual.(B) In proceedings in any probate court or court of record that are connected with any authority exercised under Chapters 1101. to 1127. of the Revised Code, all accounts, returns, and other papers may be signed and sworn to on behalf of a trust company by any authorized officer of the trust company.
Ohio Rev Code § 1111.26 (2021)
2021 Ohio Revised Code|Title 11 | Banks-Savings and Loan Associations|Chapter 1111 | Trust Companies|Section 1111.26 | Regulation by Superintendent and Division of Financial Institutions.

Effective: January 1, 1997|Latest Legislation:  House Bill 538 - 121st General Assembly|(A) Any trust company is subject to all powers of, and remedies and sanctions available to, the superintendent of financial institutions and the division of financial institutions under Chapters 1101. to 1127. of the Revised Code, in addition to the specific powers, remedies, and sanctions provided for in this chapter.(B)(1) With regard to a trust company that is not a bank doing business under authority granted by the superintendent, "regulated person," as used in division (B) of this section, means a director, officer, employee, or controlling shareholder of or agent for the trust company or a person who participates in the management of the trust company, whether or not the person is assigned to an office of the trust company in this state or specifically to the trust company's trust business in this state.(2) An order to cease and desist issued under section 1121.32 of the Revised Code, a removal or prohibition order issued under section 1121.33 of the Revised Code, or a suspension order issued under section 1121.34 of the Revised Code, which order is issued against a regulated person who is a regulated person because of the person's relationship with a trust company doing trust business in this state that is not a bank doing business under authority granted by the superintendent, does not affect the relationship between the regulated person and the trust company except as it relates to the conduct of the trust company's trust business in this state.