Investment authority - diversification
Known as the Ohio Uniform Prudent Investor Act
The act spans §§ 5809–5809 (9 sections).
Effective: January 1, 2007; Latest Legislation: House Bill 416 - 126th General Assembly
(A) A trustee may invest in any kind of property or type of investment provided that the investment is consistent with the requirements and standards of the Ohio Uniform Prudent Investor Act.
(B) A trustee shall diversify the investments of a trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying.
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.