Ohio § 5812.31
Full text of Ohio Ohio Revised Code § 5812.31, with citation guidance and answers to common questions.
§ 5812.31.
If a trustee determines that an allocation between principal and income required by section 5812.32 , 5812.33 , 5812.34 , 5812.35 , or 5812.38 of the Revised Code is insubstantial, the trustee may allocate the entire amount to principal unless
one of the circumstances described in division (C) of section 5812.03 of the Revised Code applies to the allocation. This power may be exercised by a cotrustee in the circumstances described in division
(D) of that section and may be released for the reasons and in the manner described
in division (E) of the section. An allocation is presumed to be insubstantial if either of the following applies: (A) The amount of the allocation would increase or decrease net income in an accounting
period, as determined before the allocation, by less than ten per cent. (B) The value of the asset producing the receipt for which the allocation would be made
is less than ten per cent of the total value of the trust's assets at the beginning
of the accounting period.
Frequently Asked Questions About Ohio § 5812.31
What does Ohio Revised Code § 5812.31 cover?
Section 5812.31 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 § 5812.31?
A common citation format is "Ohio Revised Code § 5812.31" (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 § 5812.31 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.