There is hereby created in the state treasury the services fund for individuals with developmental disabilities. On the death of the beneficiary of a trust created pursuant to section 5815.28 of the Revised Code, the portion of the remaining assets of the trust specified in the trust instrument shall be deposited to the credit of the fund.

Terms Used In Ohio Code 5123.40

  • 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
  • state: means the state of Ohio. See Ohio Code 1.59

Money credited to the fund shall be used for individuals with developmental disabilities. In accordance with Chapter 119 of the Revised Code, the department of developmental disabilities may adopt any rules necessary to implement this section.

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