Ohio Code § 5812.38

§ 5812.38.

(A) As used in this section, “ asset-backed security ” means an asset whose value is based upon the right it gives the owner to receive

distributions from the proceeds of financial assets that provide collateral for the

security. “ Asset-backed security ” includes an asset that gives the owner the right to receive from the collateral

financial assets only the interest or other current return or only the proceeds other

than interest or current return. “Asset-backed security” excludes an asset to which section 5812.18 or 5812.32 of the Revised Code applies. (B) If a trust receives a payment from interest or other current return and from other

proceeds of the collateral financial assets, the trustee shall allocate to income

the portion of the payment that the payer identifies as being from interest or other

current return and shall allocate the balance of the payment to principal. (C) If a trust receives one or more payments in exchange for the trust's entire interest

in an asset-backed security in one accounting period, the trustee shall allocate the

payments to principal.  If a payment is one of a series of payments that will result in the liquidation

of the trust's interest in the security over more than one accounting period, the

trustee shall allocate ten per cent of the payment to income and the balance to principal.