Effective: April 6, 2017
Latest Legislation: House Bill 432 - 131st General Assembly
An issuer, transfer agent, financial institution, broker, life insurance company, or other person acting on the instructions of or otherwise dealing with any person purporting to act as a donor or transferor or dealing with any person or trust company purporting to act as a custodian is not required to do any of the following:
(A) Determine either of the following:
(1) Whether the person or trust company designated by the purported donor or transferor, or the person or trust company purporting to act as a custodian, has been duly designated;
(2) Whether any purchase, sale, or transfer to or by, or any other act of, any person or trust company purporting to act as a custodian is in accordance with or authorized by sections 5814.01 to 5814.10 of the Revised Code.
(B) Inquire into the validity or propriety under sections 5814.01 to 5814.10 of the Revised Code of any instrument or instructions executed or given by a person purporting to act as a donor or transferor or by a person or trust company purporting to act as a custodian;
(C) See to the application by any person or trust company purporting to act as a custodian of any money or other property paid or delivered to the person or trust company.
Structure Ohio Revised Code
Chapter 5814 | Ohio Transfers to Minors Act
Section 5814.01 | Transfers to Minors Act Definitions.
Section 5814.02 | Subject of Gift or Transfer.
Section 5814.03 | Effect of Gift or Transfer.
Section 5814.04 | Custodian - Powers and Duties.
Section 5814.05 | Fees and Compensation of Custodian.
Section 5814.07 | Successor Custodian.
Section 5814.08 | Accounting by and Determination of Liability of Custodian.
Section 5814.09 | Delayed Time for Delivery of Custodial Property.