Ohio § 1111.15
Full text of Ohio Ohio Revised Code § 1111.15, with citation guidance and answers to common questions.
§ 1111.15.
(A) A trust company acting in any fiduciary capacity, including, but not limited to,
the capacities described in section 1111.11 of the Revised Code , may purchase any service or product, including, but not limited to, insurance or
securities underwritten or otherwise distributed by the trust company or by an affiliate,
through or directly from the trust company or an affiliate or from a syndicate or
selling group that includes the trust company or an affiliate, provided that the purchase
is otherwise prudent under the Ohio Uniform Prudent Investor Act and the compensation
for the service or product is reasonable and is not prohibited by the instrument governing
the fiduciary relationship. The compensation for the service or product may be in addition to the compensation
that the trust company is otherwise entitled to receive from the fiduciary account. (B) A trust company shall disclose at least annually any purchase authorized by this
section that was made by the trust company during that reporting period. The disclosure shall be given, in writing or electronically, to all persons entitled
to receive statements of account activity, and shall include any capacities in which
the trust company or an affiliate acts for the issuer of the securities or the provider
of the products or services and the fact that the trust company or an affiliate may
have an interest in the products or services. (C) This section shall apply to the purchase of securities made at the time of the initial
offering of the securities or at any time thereafter.
Frequently Asked Questions About Ohio § 1111.15
What does Ohio Revised Code § 1111.15 cover?
Section 1111.15 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 § 1111.15?
A common citation format is "Ohio Revised Code § 1111.15" (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 § 1111.15 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.