Ohio Code § 1112.04

§ 1112.04.

(A) A family trust company may do any of the following for the benefit of family clients

only: (1) Act as a fiduciary, including as a personal representative, within and outside this

state; (2) Act within and outside this state as advisory agent, agent, assignee, assignee for

the benefit of creditors, attorney in fact, authenticating agent, bailee, bond or

indenture trustee, conservator, conversion agent, curator, custodian, escrow agent,

exchange agent, fiscal or paying agent, financial adviser, investment adviser, investment

manager, managing agent, purchase agent, receiver, registrar, safekeeping agent, subscription

agent, transfer agent except for public business entities, warrant agent, or in any

similar capacity generally performed by corporate trustees and, in so acting, possess,

purchase, sell, invest, reinvest, safe keep, or otherwise manage or administer the

real or personal property of other persons; (3) Exercise the powers of a corporation or limited liability company organized under

the laws of this state and any incidental powers to enable it to fully exercise any

power authorized under this chapter. (B) A family trust company shall not do any of the following: (1) Except as otherwise provided in division (A)(10) of section 1112.05 of the Revised Code , receive money or its equivalent from any individual or entity for deposit, make

loans of any nature to any individual or entity, or otherwise conduct a general banking

business; (2) Engage in trust business with, or advertise its services to, the public; (3) Use “trust” or any direct derivative of that word as any part of its name, unless

it is a licensed family trust company.