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Ohio Rev. Code Ann. § 5810.09

Beneficiary or representative's consent to conduct constituting breach

Applied in 2 court decisions — leading case American Bonding Company, Inc. v. American Contractors Indemnity (2014)

Most recently applied in 551 F. App'x 1146 - American Bonding Co. v. American Contractors Indemnity Corp. (January 2014)

Effective: March 22, 2012; Latest Legislation: Senate Bill 117 - 129th General Assembly

A trustee is not liable to a beneficiary for breach of trust if the beneficiary or the beneficiary's representative under the representation provisions of Chapter 5803. of the Revised Code consented to the conduct constituting the breach, released the trustee from liability for the breach, or ratified the transaction constituting the breach, unless the consent, release, or ratification of the beneficiary or representative was induced by improper conduct of the trustee or, at the time of the consent, release, or ratification, the beneficiary or representative did not know of the beneficiary's rights or of the material facts relating to the breach.

This section applies regardless of whether the conduct being consented to, released, or ratified constitutes one or more breaches of fiduciary duty, violates one or more provisions of the Revised Code, or is taken without required court approval.

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.