Ohio § 1715.51
Full text of Ohio Ohio Revised Code § 1715.51, with citation guidance and answers to common questions.
§ 1715.51.
As used in sections 1715.51 to 1715.59 of the Revised Code : (A) “ Charitable purpose ” means any purpose the achievement of which is beneficial to the community, including
the relief of poverty, the advancement of education or religion, the promotion of
health, and the promotion of a governmental purpose. (B) “ Institution ” means any of the following: (1) A person, other than an individual, organized and operated exclusively for charitable
purposes; (2) A governmental organization to the extent that it holds funds exclusively for a charitable
purpose; (3) A trust that had both charitable and noncharitable interests and the noncharitable
interests have terminated. (C) “ Institutional fund ” means a fund that is held by an institution exclusively for charitable purposes. “Institutional fund” does not include any of the following: (1) Program related assets; (2) A fund held for an institution by a trustee that is not an institution; (3) A fund in which a beneficiary that is not an institution has an interest other than
an interest that may arise upon a violation of or the failure of the purposes of the
fund. (D) “ Endowment fund ” means an institutional fund or any part thereof that, under the terms of a gift
instrument, is not wholly expendable by the institution on a current basis. “Endowment fund” does not include assets that an institution designates as an endowment
fund for its own use. (E) “ Gift instrument ” means a record or records, including an institutional solicitation, under which
property is granted to, transferred to, or held by an institution as an institutional
fund. (F) “ Person ” means an individual, corporation, business trust, estate, trust, partnership, limited
liability company, association, joint venture, public corporation, governmental organization,
or any other legal or commercial entity. (G) “ Program related asset ” means an asset held by an institution primarily to accomplish a charitable purpose
of the institution and not primarily for investment. (H) “ Record ” means information that is inscribed on a tangible medium or that is stored in an
electronic or other medium and is retrievable in perceivable form.
Frequently Asked Questions About Ohio § 1715.51
What does Ohio Revised Code § 1715.51 cover?
Section 1715.51 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 § 1715.51?
A common citation format is "Ohio Revised Code § 1715.51" (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 § 1715.51 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.