2011 Ohio Revised Code
Title [21] XXI COURTS - PROBATE - JUVENILE
Chapter 2109: FIDUCIARIES
2109.26 [Effective Until1/13/2012] Vacancy before termination of the trust - accounting - successor fiduciary.

If a sole fiduciary dies, is dissolved, declines to accept, resigns, is removed, or becomes incapacitated prior to the termination of the trust, the probate court shall require a final account of all dealings of such trust to be filed forthwith by such fiduciary if a living person and able to act. If such fiduciary is a living person but unable to act, such final account shall be filed by his guardian, or if there is no guardian by some other suitable person in his behalf, appointed or approved by the court. If such fiduciary is a deceased person, such account shall be filed by his executor or administrator. If such fiduciary is a dissolved corporation, such account shall be filed by such persons as are charged by law with winding up the affairs of such corporation. Thereupon the court shall cause such proceedings to be had as are provided by sections 2109.30 to 2109.36, inclusive, of the Revised Code.

Whenever such a vacancy occurs and such contingency is not otherwise provided for by law or by the instrument creating the trust, or whenever such instrument names no fiduciary, the court shall, on its own motion or on the application of any person beneficially interested, issue letters of appointment as fiduciary to some competent person or persons who shall qualify according to law and execute the trust to its proper termination. Such vacancy and the appointment of a successor fiduciary shall not affect the liability of the former fiduciary or his sureties which was previously incurred.

Effective Date: 10-01-1953

This section is set out twice. See also § 2109.26, as amended by 129th General Assembly File No. 52, SB 124, § 1, eff. 1/13/2012.

2109.26 [Effective1/13/2012] Vacancy before termination of the trust – accounting – successor fiduciary

If a sole fiduciary dies, is dissolved, declines to accept, resigns, is removed, or becomes incapacitated prior to the termination of the trust, the probate court shall require a final account of all dealings of the trust to be filed by the fiduciary if a living person and able to act. If the fiduciary is a living person but unable to act, the final account shall be filed by the fiduciary’s guardian or, if there is no guardian, by some other suitable person in the fiduciary’s behalf, appointed or approved by the court. If the fiduciary is a deceased person, the final account shall be filed by the fiduciary’s executor or administrator. If no estate is commenced for a deceased fiduciary, the deceased fiduciary’s successor shall file the final account. If the fiduciary is a dissolved corporation, the final account shall be filed by those persons that are charged by law with winding up the affairs of the dissolved corporation. The court shall cause the proceedings to be had as are provided by sections 2109.30 to 2109.36 of the Revised Code.

Whenever such a vacancy occurs and that contingency is not otherwise provided for by law or by the instrument creating the trust or whenever the instrument names no fiduciary, the court shall, on its own motion or on the application of any person beneficially interested, issue letters of appointment as fiduciary to a competent person or persons who shall qualify according to law and execute the trust to its proper termination. The vacancy and the appointment of a successor fiduciary shall not affect the liability of the former fiduciary or the former fiduciary’s sureties that was previously incurred.

Amended by 129th General Assembly File No. 52, SB 124, § 1, eff. 1/13/2012.

Effective Date: 10-01-1953

This section is set out twice. See also § 2109.26, effective until 1/13/2012.