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 the enforcement of endowment agreements. The bill defines terms such as "benefactor," "benefactor representative," and "endowment agreement," and outlines the rights of benefactors or 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 must include the attorney general as a party. It also clarifies that the failure to join a benefactor or benefactor representative in a complaint is not jurisdictional, but they must be given an opportunity to be heard. The bill establishes a six-year statute of limitations for filing complaints, with an extension available under certain conditions. Finally, it states that the new provisions apply only to endowment funds established on or after the effective date of the bill, or to breaches occurring after that date for funds established prior.

Statutes affected:
As Introduced: 109.25, 1715.51, 5813.06