Ohio § 1112.05
Full text of Ohio Ohio Revised Code § 1112.05, with citation guidance and answers to common questions.
§ 1112.05.
(A) Notwithstanding any other provision of law to the contrary, while acting as the fiduciary
of a trust, a family trust company may do all of the following: (1) Invest in a security of an investment company or investment trust for which the family
trust company or a family affiliate provides services in a capacity other than as
a fiduciary; (2) Place a security transaction using a broker that is a family affiliate; (3) Invest in an investment contract that is purchased from an insurance company or carrier
owned by or affiliated with the family trust company or a family affiliate; (4) Enter into an agreement with a beneficiary or grantor of a trust relative to the
appointment or compensation of the fiduciary or a family affiliate; (5) Transact with another trust, estate, guardianship, or conservatorship for which the
family trust company is a fiduciary or in which a beneficiary has an interest; (6) Make an equity investment in a nonpublicly traded entity that may or may not be marketable
and that is owned or controlled, either directly or indirectly, by one or more beneficiaries,
family members, or family affiliates; (7) Deposit trust money in a financial institution that is owned or operated by a family
affiliate; (8) Delegate the authority to conduct any transaction or action under this section to
an agent of the family trust company or a family affiliate; (9) Purchase, sell, hold, own, or invest in any security, bond, real or personal property,
stock, or other asset of a family affiliate; (10) Loan money to or borrow money from a family member or the family member's legal representative,
another trust managed by the family trust company, or a family affiliate; (11) Act as proxy in voting any shares of stock that are assets of the trust; (12) Exercise any powers of control with respect to any interest in a business entity
that is an asset of the trust, including, without limitation, the appointment of officers
or directors who are family members; (13) Receive reasonable compensation for its services. (B) After full disclosure to the governing body of the family trust company is provided,
nothing in this section prohibits a family trust company from entering into a transaction
with or investing in any asset of any of the following: (1) A trust, estate, guardianship, or conservatorship for which the family trust company
is a fiduciary; (2) A family affiliate; (3) Any other business entity, agent, or person for which a conflict of interest may
exist.
Frequently Asked Questions About Ohio § 1112.05
What does Ohio Revised Code § 1112.05 cover?
Section 1112.05 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 § 1112.05?
A common citation format is "Ohio Revised Code § 1112.05" (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 § 1112.05 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.