Ohio § 5813.02
Full text of Ohio Ohio Revised Code § 5813.02, with citation guidance and answers to common questions.
§ 5813.02.
(A) Subject to division (D) of this section and section 5813.03 of the Revised Code , during any fiscal year in which income may be or is required to be distributed to
an institution from an institutional trust fund, income means the greater of the following: (1) The income from the assets of the institutional trust fund for the fiscal year as
determined in accordance with the applicable trust instrument and applicable law without
regard to sections 5813.01 to 5813.07 of the Revised Code ; (2) The amount requested by the institution's governing board for the fiscal year pursuant
to division (B) of this section. (B) An institution's governing board may request that an amount be distributed to the
institution for the fiscal year, and that amount shall not exceed the sum of both
of the following: (1) Five per cent of the applicable fund value for the institutional trust fund for the
fiscal year; (2) If, in any prior fiscal year that is after September 15, 1999, the governing board
requested less than five per cent of the applicable fund value for that prior fiscal
year and if the amount the institution actually received from the institutional trust
fund pursuant to division (A) of this section was less than five per cent for that
prior fiscal year, the aggregate difference between five per cent of the applicable
fund value with respect to each such prior fiscal year and the amount the institution
actually received pursuant to division (A) of this section for each prior fiscal year. (C) If, under a trust instrument, more than one institution is a beneficiary of an institutional
trust fund, the trustee shall take such actions that the trustee determines appropriate
or necessary to allow for the distributions of income as contemplated by division
(A) of this section, which actions may include dividing the institutional trust fund
into separate shares according to the interest that each institution has in the total
institutional trust fund held under the trust instrument. (D) This section does not limit the authority or obligation of a trustee to distribute,
or the authority of a governing board to request, funds as permitted or required under
the terms of the applicable trust instrument.
Frequently Asked Questions About Ohio § 5813.02
What does Ohio Revised Code § 5813.02 cover?
Section 5813.02 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 § 5813.02?
A common citation format is "Ohio Revised Code § 5813.02" (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 § 5813.02 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.