{"data":{"id":"us-oh/ohio-rev.-code-1112.05","jurisdiction":"us-oh","citation":"Ohio Rev. Code § 1112.05","heading":"Family trust company acting as fiduciary of a trust.","body":"(A)¿¿Notwithstanding any other provision of law to the contrary, while acting as the fiduciary of a trust, a family trust company may do all of the following:\n(1)¿Invest in a security of an investment company or investment trust for which the family trust company or a family affiliate provides services in a capacity other than as a fiduciary;\n(2)¿Place a security transaction using a broker that is a family affiliate;\n(3)¿Invest in an investment contract that is purchased from an insurance company or carrier owned by or affiliated with the family trust company or a family affiliate;\n(4)¿Enter into an agreement with a beneficiary or grantor of a trust relative to the appointment or compensation of the fiduciary or a family affiliate;\n(5)¿Transact with another trust, estate, guardianship, or conservatorship for which the family trust company is a fiduciary or in which a beneficiary has an interest;\n(6)¿Make an equity investment in a nonpublicly traded entity that may or may not be marketable and that is owned or controlled, either directly or indirectly, by one or more beneficiaries, family members, or family affiliates;\n(7)¿Deposit trust money in a financial institution that is owned or operated by a family affiliate;\n(8)¿Delegate the authority to conduct any transaction or action under this section to an agent of the family trust company or a family affiliate;\n(9)¿Purchase, sell, hold, own, or invest in any security, bond, real or personal property, stock, or other asset of a family affiliate;\n(10)¿Loan money to or borrow money from a family member or the family member's legal representative, another trust managed by the family trust company, or a family affiliate;\n(11) Act as proxy in voting any shares of stock that are assets of the trust;\n(12) Exercise any powers of control with respect to any interest in a business entity that is an asset of the trust, including, without limitation, the appointment of officers or directors who are family members;\n(13) Receive reasonable compensation for its services.\n(B) After full disclosure to the governing body of the family trust company is provided, nothing in this section prohibits a family trust company from entering into a transaction with or investing in any asset of any of the following:\n(1) A trust, estate, guardianship, or conservatorship for which the family trust company is a fiduciary;\n(2) A family affiliate;\n(3) Any other business entity, agent, or person for which a conflict of interest may exist.","path":["Title 11 Banks-Savings and Loan Associations","Chapter 1112 Ohio Family Trust Company Act"],"source_url":"https://codes.ohio.gov/ohio-revised-code/section-1112.05","current_through":"2016-09-14 (House Bill 229 - 131st General Assembly)","vintage":"","retrieved_at":"2026-09-14T19:24:28Z","sha256":"5270fa3cbdfd584beaf8ce36eecde6acfe445be20b8a12e6d17f16f8bc7a56c7","source_id":"us-oh","stale":false,"prev":"us-oh/ohio-rev.-code-1112.04","next":"us-oh/ohio-rev.-code-1112.06"},"notice":"GroundRules: Original legal text. Not legal advice."}