5815.04 Uniform fiduciary act definitions. - Ohio Statutes

5815.04 Uniform fiduciary act definitions.

As used in sections 5815.04 to 5815.11 of the Revised Code:

(A) “Bank” includes any person, carrying on the business of banking and any financial institution defined in section 5725.01 of the Revised Code.

(B) “Fiduciary” includes a trustee under any trust, expressed, implied, resulting, or constructive, an executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust, or estate.

(C) “Person” includes a corporation, partnership, association, or two or more persons having a joint or common interest.

(D) “Principal” includes any person to whom a fiduciary as such owes an obligation.

(E) “Good faith” includes an act when it is in fact done honestly.

Effective Date: 01-01-2007