Ohio Code 1746.12 – Shares of beneficial interest
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(A) Unless otherwise provided in the trust instrument, shares of beneficial interest need not be evidenced by certificates.
Terms Used In Ohio Code 1746.12
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Personal property: All property that is not real property.
- Property: means real and personal property. See Ohio Code 1.59
(B) For purposes of Title XIII of the Revised Code, shares of beneficial interest, however designated, in a business trust shall be treated as personal property, notwithstanding the nature of the property of which the business trust shall consist, and shall be subject to attachment and execution. Unless otherwise provided in the trust instrument, such shares may be pledged by the holders thereof.
(C) A share of a beneficial interest in the trust estate of a business trust is a security subject to Chapter 1707 of the Revised Code.