§ 5813.01 Institutional trust funds act definitions
§ 5813.02 Maximum annual distribution from institutional trust fund
§ 5813.03 Settlor’s intention that income be otherwise determined
§ 5813.04 Standard of care
§ 5813.05 Exemption
§ 5813.06 Relationship of chapter to uniform management of institutional funds act
§ 5813.07 Citing act
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Terms Used In Ohio Code > Chapter 5813 - Institutional Trust Funds Act

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Inter vivos: Transfer of property from one living person to another living person.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Rule: includes regulation. See Ohio Code 1.59
  • Trustee: A person or institution holding and administering property in trust.