Ohio § 5813.01
Full text of Ohio Ohio Revised Code § 5813.01, with citation guidance and answers to common questions.
§ 5813.01.
As used in sections 5813.01 to 5813.07 of the Revised Code : (A) “ Institution ” means an incorporated or unincorporated organization that is organized and operated
exclusively for educational, religious, charitable, or other eleemosynary purposes
or a governmental organization to the extent that it holds funds exclusively for any
of those purposes. (B) “ Governing board ” means the body responsible for the management of an institution. (C) “ Institutional trust fund ” means a trust fund, or a part of a trust fund, that is held by a trustee for the
exclusive use, benefit, or purposes of one or more institutions and that is not wholly
distributable to the institution or institutions on a current basis under the terms
of the applicable trust instrument. “ Institutional trust fund ” does not include a fund in which a beneficiary that is not an institution has an
interest other than a right that may arise upon a violation of a covenant under the
terms of the applicable trust instrument or upon a violation of or the failure of
the purposes of the fund. (D) “ Applicable fund value ” means for any particular fiscal year the sum of the month-end values of the net
assets of an institutional trust fund for the prior fiscal year for those months in
which the institutional trust fund has been in existence during such prior fiscal
year divided by the number of those months. The month-end values shall be determined by the trustee in accordance with the trustee's
records, and any such determination made by a trustee in good faith is conclusive. (E) “ Trust instrument ” means a testamentary or inter vivos trust under which the trustee of the trust holds
an institutional trust fund. (F) “ Trustee ” means an individual, corporation, institution, or organization, including, but not
limited to, a bank, trust company, or other financial institution, serving as a trustee
or as sole trustee under a trust instrument. “ Trustee ” includes an original trustee and any successor or added trustee.
Frequently Asked Questions About Ohio § 5813.01
What does Ohio Revised Code § 5813.01 cover?
Section 5813.01 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 § 5813.01?
A common citation format is "Ohio Revised Code § 5813.01" (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 § 5813.01 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.