Section 1747.01 - Real estate investment trust definitionsAs used in Chapter 1747. of the Revised Code, unless the context otherwise requires:
(A) "Real estate investment trust" means a trust created by an instrument, pursuant to common law or enabling legislation, under which any estate or interest in real property is held, managed, administered, controlled, invested, reinvested, or operated by a trustee or trustees for the benefit and profit of persons who are or may become the holders of transferable certificates of beneficial interest, issued pursuant to the provisions of the trust instrument, such transferability being either restricted or unrestricted, which trust intends to comply or has at any time complied or intended to comply with sections 856, 857, and 858 of the " Interal Revenue Code of 1954," 68A Stat. 3, 26 U.S.C. 1, as now or hereafter amended.(B) "Domestic real estate investment trust" means a real estate investment trust organized in this state.(C) "Foreign real estate investment trust" means a real estate investment trust organized in another state.(D) "State" means the United States, any state, territory, insular possession, or other political subdivision of the United States, including the District of Columbia.(E) "Trust instrument" means the instrument creating a real estate investment trust, including any amendments to it.(F) "To transact real estate business in this state" means to take, hold, or dispose of any estate or interest in real property situated in this state.(G) "Certificate of beneficial interest" means a certificate issued by a real estate investment trust evidencing a beneficial interest in the trust.Effective Date: 7/17/1978 .