Effective: January 1, 2007
Latest Legislation: House Bill 416 - 126th General Assembly
(A) A trustee may delegate investment and management functions of a trust that a prudent trustee having comparable skills could properly delegate under the circumstances. A trustee that exercises its delegation authority under this division shall comply with the requirements of division (A) of section 5808.07 of the Revised Code.
(B) In performing investment or management functions of a trust that are delegated to an agent, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation.
(C) A trustee who delegates a function to an agent in compliance with division (A) of this section is not liable to the beneficiaries of the trust or to the trust for the decisions or actions of the agent to whom the function was delegated.
(D) By accepting the delegation of investment or management functions of a trust that is subject to the laws of this state, an agent submits to the jurisdiction of this state.
Structure Ohio Revised Code
Chapter 5809 | Ohio Uniform Prudent Investor Act
Section 5809.01 | Trustee Duty to Comply With Act.
Section 5809.02 | Standard of Care - Portfolio Strategy - Risk and Return Objectives.
Section 5809.03 | Investment Authority - Diversification.
Section 5809.04 | Duties at Inception of Trusteeship.
Section 5809.05 | Reviewing Compliance.
Section 5809.06 | Delegation of Investment and Management Functions.