Effective: September 12, 2008
Latest Legislation: House Bill 499 - 127th General Assembly
(A) Except as otherwise provided in division (B) of this section, if a particular charitable purpose becomes unlawful, impracticable, or impossible to achieve, all of the following apply:
(1) The trust does not fail in whole or in part.
(2) The trust property does not revert to the settlor or the settlor's successors in interest.
(3) The court may apply cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manner consistent with the settlor's charitable purposes. In accordance with section 109.25 of the Revised Code, the attorney general is a necessary party to a judicial proceeding brought under this section.
(B) A provision in the terms of a charitable trust for an alternative charitable purpose or for the distribution of the trust property to a noncharitable beneficiary prevails over the power of the court under division (A) of this section to apply cy pres to modify or terminate the trust.
Structure Ohio Revised Code
Chapter 5804 | Creation, Modification, Revocation, and Termination
Section 5804.01 | Methods of Creation of Trusts.
Section 5804.02 | General Requirements for Creation of Trust.
Section 5804.03 | Validity of Nontestamentary Trusts.
Section 5804.04 | Trust Purposes Must Be Legitimate.
Section 5804.05 | Purposes of Charitable Trust - Enforcement.
Section 5804.06 | Trust Induced by Fraud, Duress, or Undue Influence Void.
Section 5804.07 | Written Instrument Not Required.
Section 5804.08 | Trust to Provide for Care of Animal.
Section 5804.09 | Trust Created for Noncharitable Purpose.
Section 5804.10 | Termination of Trust by Revocation or by Terms.
Section 5804.11 | Termination or Modification of Noncharitable Irrevocable Trust.
Section 5804.12 | Judicial Action Due to Change of Circumstances.
Section 5804.13 | Judicial Action Where Charitable Purpose Frustrated.
Section 5804.14 | Termination or Modification Where Costs Exceed Value.
Section 5804.15 | Reformation to Conform to Settlor's Intention.
Section 5804.16 | Modification to Achieve Settlor's Tax Objectives.