2006 Ohio Revised Code - 1340.21. Effective until 1-1-07.

§ 1340.21. "Fiduciary" and "governing instrument" defined.
 

As used in sections 1340.21 to 1340.23 of the Revised Code: 

(A) (1) "Fiduciary" means, subject to division (A)(2) of this section, a fiduciary as defined in section 2109.01 of the Revised Code, other than a person acting as an executor or administrator, and also includes, subject to division (A)(2) of this section, a trustee of an inter vivos trust and any other person appointed pursuant to the authority granted by the governing instrument to carry out the same or similar fiduciary duties as set forth in section 2109.01 of the Revised Code. 

(2) "Fiduciary" does not include an attorney-in-fact acting pursuant to a power of attorney. 

(B) (1) "Governing instrument" means, subject to division (B)(2) of this section, any written instrument that confers a fiduciary power upon a fiduciary and includes an inter vivos trust and a testamentary trust. 

(2) "Governing instrument" does not include a power of attorney. 
 

HISTORY: 144 v H 427. Eff 10-8-92.
 

The provisions of § 6 of HB 427 (144 v  - ) read as follows: 

SECTION 6. In enacting sections 1340.21, 1340.22, and 1340.23 of the Revised Code in Section 1 of this act, the General Assembly hereby declares its intent to codify certain fiduciary and trust law principles relating to a fiduciary's conflict of interests and, in general, to provide for the exercise of certain discretionary powers to distribute either principal or income to a beneficiary by a beneficially interested fiduciary for his own benefit to the extent of an ascertainable standard.