The bill amends sections 109.25, 1715.51, and 5813.06 of the Revised Code and enacts new sections 1715.551 to 1715.559 to establish procedures for civil actions when an institution violates restrictions in an endowment agreement. Key provisions include the requirement for the attorney general to be involved in judicial proceedings related to charitable trusts, including enforcing the terms of endowment agreements. The bill defines terms such as "benefactor," "endowment agreement," and "institution," and outlines the rights of benefactors and their representatives to notify the attorney general of violations and to file complaints if necessary.

Additionally, the bill specifies that complaints regarding breaches of endowment agreements must be filed in a court of competent jurisdiction and outlines the necessary parties involved in such complaints. It also establishes a statute of limitations for filing complaints based on breaches of endowment agreements, allowing for an extension under certain conditions. The provisions apply to endowment funds established on or after the effective date of the bill, as well as to breaches occurring after that date for funds established prior. Existing sections of the Revised Code that conflict with these new provisions are repealed.

Statutes affected:
As Introduced: 109.25, 1715.51, 5813.06