Ohio § 1125.27
Full text of Ohio Ohio Revised Code § 1125.27, with citation guidance and answers to common questions.
§ 1125.27.
(A) The receiver may appoint a successor to all rights, obligations, assets, deposits,
agreements, and trusts held by the closed state bank as trustee, administrator, executor,
guardian, agent, or in any other fiduciary or representative capacity. The successor's duties and obligations commence upon appointment to the same extent
they are binding upon the former bank and as though the successor had originally assumed
the duties and obligations. Specifically, the successor shall succeed to and be entitled to administer all trusteeships,
administrations, executorships, guardianships, agencies, and all other fiduciary or
representative proceedings to which the closed bank is named or appointed in wills,
whenever probated, or to which it is appointed by any other instrument, court order,
or operation of law. (B) Within sixty days after appointment, the successor shall give written notice, insofar
as practicable, to all interested parties named in the books and records of the bank
or in trust documents held by it, that the successor has been appointed in accordance
with state law. (C) Nothing in this section shall be construed to impair any right of the grantor or
beneficiaries of trust assets to secure the appointment of a substituted trustee or
manager.
Frequently Asked Questions About Ohio § 1125.27
What does Ohio Revised Code § 1125.27 cover?
Section 1125.27 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 1125.27?
A common citation format is "Ohio Revised Code § 1125.27" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1125.27 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.