Ohio § 1746.08 Trustees' qualifications and liabilities

Ohio Statutes

§ 1746.08 — Trustees' qualifications and liabilities

Ohio § 1746.08

Title 17Corporations-Partnerships

Ch. 1746Business Trusts

This text of Ohio § 1746.08 (Trustees' qualifications and liabilities) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 1746.08 (2026).

Text

(A)Any individual or entity may be a trustee of a business trust; any trustee may own shares, including all of the shares, of the business trust.

(B)Unless otherwise set forth in the trust instrument, and notwithstanding section1746.13of the Revised Code, a trustee of a business trust that has made the filings described in section1746.04of the Revised Code shall be liable to the business trust, its shareholders, and its other trustees only to the same extent as a director of a corporation organized under Chapter 1701. of the Revised Code is liable to the corporation, its shareholders, and its other directors. A trustee of a business trust that has made the filings described in section1746.04of the Revised Code is not liable for the act or misconduct of a cotrustee in which he has not jo

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(A) Any individual or entity may be a trustee of a business trust; any trustee may own shares, including all of the shares, of the business trust.

(B) Unless otherwise set forth in the trust instrument, and notwithstanding section1746.13of the Revised Code, a trustee of a business trust that has made the filings described in section1746.04of the Revised Code shall be liable to the business trust, its shareholders, and its other trustees only to the same extent as a director of a corporation organized under Chapter 1701. of the Revised Code is liable to the corporation, its shareholders, and its other directors. A trustee of a business trust that has made the filings described in section1746.04of the Revised Code is not liable for the act or misconduct of a cotrustee in which he has not joined, to which he has not consented, and which he has not aided or made possible by his own neglect.

(C) The right, if any, of a trustee to enter into a contract or other transaction with the business trust of which he is trustee shall be as set forth in the trust instrument.