Ohio § 2109.41
Full text of Ohio Ohio Revised Code § 2109.41, with citation guidance and answers to common questions.
§ 2109.41.
(A) Immediately after appointment and throughout the term of the appointment, but subject
to section 2109.372 of the Revised Code and except as provided in division (C) of this section, every fiduciary, pending
payment of current obligations of the fiduciary's trust or estate, distribution, or
investment pursuant to law, shall deposit all funds received by the fiduciary in the
fiduciary's name as such fiduciary in one or more depositaries. Each depositary shall be a bank, savings bank, savings and loan association, or
credit union located in this state. A corporate fiduciary, authorized to receive deposits of fiduciaries, may be the
depositary of funds held by it as fiduciary. All deposits made pursuant to division (A) of this section shall be in such class
of account as will be most advantageous to the trust or estate, and each depositary
shall pay interest at the highest rate customarily paid to its patrons on deposits
in accounts of the same class. (B) The placing of funds in such depositaries under the joint control of the fiduciary
and a surety on the bond of the fiduciary shall not increase the liability of the
fiduciary. (C) A fiduciary of a trust or estate may transfer funds received by the fiduciary in
the fiduciary's name as such fiduciary to the fiduciary's attorney for deposit in
an interest on lawyer's trust account established under division (A)(1)(b) of section 4705.09 of the Revised Code that is maintained by the attorney if the attorney, in consultation with the fiduciary,
has determined that the funds are nominal in amount or will be held in the interest
on lawyer's trust account for a short period of time. (D) Notwithstanding any contrary provision in this chapter, a probate court examining
a trust or estate may only access the account information of an interest on lawyer's
trust account created under this section for purposes of obtaining information related
to that particular trust or estate and shall not access records of the interest on
lawyer's trust account that pertain to assets of any other estate or trust held in
the interest on lawyer's trust account.
Frequently Asked Questions About Ohio § 2109.41
What does Ohio Revised Code § 2109.41 cover?
Section 2109.41 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 § 2109.41?
A common citation format is "Ohio Revised Code § 2109.41" (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 § 2109.41 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.