Effective: January 1, 2007
Latest Legislation: House Bill 416 - 126th General Assembly
(A) A trustee shall give bond to secure performance of the trustee's duties only if the court finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust and the court has not dispensed with the requirement.
(B) The court may specify the amount of a bond, its liabilities, and whether sureties are necessary. The court may modify or terminate a bond at any time.
(C) A regulated financial-service institution qualified to do trust business in this state need not give bond, even if required by the terms of the trust.
Structure Ohio Revised Code
Section 5807.01 | Acceptance or Rejection of Trusteeship.
Section 5807.02 | Bond of Trustee.
Section 5807.03 | Cotrustees - Delegation - Liability.
Section 5807.04 | Vacancy Defined - Priority in Filling - Additional Trustees.
Section 5807.05 | Resignation of Trustee - Notice - Approval.
Section 5807.06 | Removal of Trustee - Grounds - Protective Measures.
Section 5807.07 | Powers and Duties of Removed or Resigned Trustee.
Section 5807.08 | Compensation of Trustee.
Section 5807.09 | Reimbursement of Trustee for Administrative Expenses.