Effective: September 14, 2016
Latest Legislation: House Bill 229 - 131st General Assembly
The existence of any licensed family trust company shall date from the filing of its articles of incorporation or articles of organization, from which time it shall have and may exercise the incidental powers conferred by law upon corporations or limited liability companies, as applicable. However, until it has obtained a license issued under this chapter, a family trust company shall not transact any business as a licensed family trust company, other than the election of officers, the taking and approving of their official bonds, the receipts of payment upon stock subscriptions, and other business incidental to its organization.
Structure Ohio Revised Code
Title 11 | Banks-Savings and Loan Associations
Chapter 1112 | Ohio Family Trust Company Act
Section 1112.01 | Definitions.
Section 1112.02 | Applicability to Family Trust Company.
Section 1112.04 | Powers of Family Trust Company.
Section 1112.05 | Family Trust Company Acting as Fiduciary of a Trust.
Section 1112.07 | Application for License.
Section 1112.08 | Issuance of License.
Section 1112.09 | Transfer and Assignment Prohibited.
Section 1112.10 | More Than One Place of Business.
Section 1112.11 | Limitation of Powers Before Licensure.
Section 1112.12 | Pledge of Securities.
Section 1112.13 | Fidelity Bonds; Liability Insurance.
Section 1112.14 | Duties of Licensed Family Trust Company.
Section 1112.15 | Board Meetings.
Section 1112.16 | Other Licensing and Regulation Requirements.
Section 1112.17 | Voluntary Surrender of License.
Section 1112.18 | Recordkeeping.
Section 1112.19 | Retention and Reproduction of Documents.
Section 1112.20 | Remedies and Sanctions.
Section 1112.22 | Examination of Records and Affairs.
Section 1112.23 | Confidentiality.
Section 1112.24 | Failure to Comply With Chapter or Refusal to Allow Inspection.
Section 1112.26 | Taking Possession by Superintendent.
Section 1112.27 | Ownership Interest by Superintendent Prohibited.
Section 1112.28 | Adoption of Rules.
Section 1112.99 | Penalty for Divulgence of Confidential Material.