Ohio Revised Code Chapter 135 - Uniform Depository Act

• Section 135.01 - Uniform Depositary Act Definitions.
  Except as otherwise provided in sections 135.14, 135.143, 135.181, and 135.182 of the Revised Code, as used in sections 135.01 to 135.21 of the...
• Section 135.02 - State Board Of Deposit.
  There shall be a state board of deposit consisting of the treasurer of state or an employee of the treasurer of state's department designated...
• Section 135.03 - Institutions Eligible As Public Depositories.
  Any national bank, any bank doing business under authority granted by the superintendent of financial institutions, or any bank doing business under authority granted...
• Section 135.031 - [Repealed].
  Effective Date: 12-02-1996
• Section 135.032 - Disqualification As Depository.
  No bank or savings and loan association is eligible to become a public depository or to receive any new public deposits pursuant to sections...
• Section 135.04 - Eligibility For State Deposits - Warrant Clearance Accounts.
  (A) Any institution mentioned in section 135.03 of the Revised Code is eligible to become a public depository of the active deposits, inactive deposits,...
• Section 135.05 - Estimate Of Inactive Deposits.
  Each governing board shall, at least three weeks prior to the date when it is required by section 135.12 of the Revised Code to...
• Section 135.06 - Application For Inactive Deposits.
  Each eligible institution desiring to be a public depository of the inactive deposits of the public moneys of the state or of the inactive...
• Section 135.07 - Award Of Inactive Deposits.
  Each governing board, in proceeding to award the inactive deposits of public moneys subject to its control to public depositories, shall estimate the probable...
• Section 135.08 - Application For Interim Deposits.
  Each eligible institution desiring to be a public depository of interim deposits of the public moneys of the state or of the interim deposits...
• Section 135.09 - Award Of Interim Deposits.
  Interim deposits may be awarded by the treasurer or governing board as interim moneys become available. The treasurer or the governing board shall award...
• Section 135.10 - Application For Active Deposits.
  Each eligible institution desiring to be a public depository of the active deposits of the public moneys of the state or of a subdivision...
• Section 135.101 - Savenow Program Definitions.
  As used in sections 135.101 to 135.106 of the Revised Code: (A) "Eligible resident" means an individual who is a resident of Ohio and...
• Section 135.102 - Purpose Of Savenow Program.
  The general assembly finds that the personal savings rate among Ohioans has declined in recent years, that personal savings are important to the future...
• Section 135.103 - Investment In Savenow Linked Deposits.
  The treasurer of state may invest in SaveNOW linked deposits under sections 135.101 to 135.106 of the Revised Code, provided that at the time...
• Section 135.104 - Resident Participation In Savenow Program.
  (A) A resident of Ohio may participate in the SaveNOW program by agreeing to maintain a SaveNOW savings account at an eligible savings institution...
• Section 135.105 - Offer Of Savenow Accounts To Residents.
  (A) Upon the placement of a SaveNOW linked deposit with an eligible savings institution, the institution shall offer SaveNOW savings accounts to eligible residents...
• Section 135.106 - Immunity Of State - Effect Of Misconduct On Deposit Agreement.
  The state and the treasurer of state are not liable to any eligible savings institution or any eligible resident in any manner for the...
• Section 135.11 - Exemption From Prohibition Against Interest In Contract.
  An officer, director, stockholder, employee, or owner of any interest in a public depository receiving inactive, interim, or active deposits pursuant to sections 135.01...
• Section 135.12 - Designating Depositories Biennially.
  (A) Beginning in 2004, the state board of deposit shall meet on the third Monday of March in the even-numbered years for the purpose...
• Section 135.13 - Evidence Of Inactive And Interim Deposits.
  Inactive deposits shall be evidenced by time certificates of deposit, each of which shall mature not later than the end of the period of...
• Section 135.14 - Investing Interim Moneys Of Public Subdivisions.
  (A) As used in this section: (1) "Treasurer" does not include the treasurer of state, and "governing board" does not include the state board...
• Section 135.141 - Municipal Corporation May Invest Interim Moneys In Linked Deposits.
  In addition to the investments specified in section 135.14 of the Revised Code, the treasurer or the governing board of a municipal corporation may...
• Section 135.142 - Board Of Education Investment Of Interim Moneys.
  (A) In addition to the investments authorized by section 135.14 of the Revised Code, any board of education, by a two-thirds vote of its...
• Section 135.143 - Investment Authority For State Interim Funds.
  (A) The treasurer of state may invest or execute transactions for any part or all of the interim funds of the state in the...
• Section 135.144 - Investment Of Interim Moneys In Federally Insured Certificates Of Deposit.
  (A) In addition to the authority provided in section 135.14 or 135.143 of the Revised Code, the treasurer of state or the treasurer or...
• Section 135.145 - Redeposit Of Interim Moneys Moneys.
  (A) In addition to the authority provided in section 135.14 or 135.143 of the Revised Code for the investment or deposit of interim moneys,...
• Section 135.15 - Transferring Funds From One Classification To Another.
  Whenever the governing board is of the opinion that the actual amount of active deposits is insufficient to meet the anticipated demands on such...
• Section 135.16 - Payment Of Interest.
  Interest on active deposits shall be paid or credited by the public depository at least quarterly and when the funds are withdrawn, computing the...
• Section 135.17 - Cash Reserve.
  Each treasurer may at all times keep in the vaults of his office such amount, as a cash reserve, as is prescribed by the...
• Section 135.18 - Security For Repayment Of Public Moneys.
  (A) Each institution designated as a public depository and awarded public deposits under sections 135.01 to 135.21 of the Revised Code, except as provided...
• Section 135.181 - Optional Pledging Requirements.
  (A) As used in this section: (1) "Public depository" means that term as defined in section 135.01 of the Revised Code, but also means...
• Section 135.182 - Ohio Pooled Collateral Program.
  (A) As used in this section: (1) "Public depository" means that term as defined in section 135.01 of the Revised Code, but also means...
• Section 135.19 - Failure Of Public Depository.
  (A) A treasurer and his bondsmen or surety shall be relieved from any liability for the loss of any public moneys deposited by him...
• Section 135.20 - Proportion Of Deposits In Various Banks Subject To Reasonable Variation.
  Except as regards initial deposits at the beginning of a period of designation, the requirements of sections 135.01 to 135.21, inclusive, of the Revised...
• Section 135.21 - Investment Earnings Apportionment And Crediting.
  All investment earnings on money included within a public deposit of a subdivision and belonging to undivided tax funds shall, except as otherwise expressly...
• Section 135.22 - Annual Continuing Education Programs For Treasurers.
  (A) For purposes of this section: (1) "Treasurer" has the same meaning as in section 135.01 of the Revised Code, but does not include...
• Section 135.23 - [Repealed].
  Effective Date: 06-11-1968
• Section 135.31 - County Depository Definitions.
  As used in sections 135.31 to 135.40 of the Revised Code: (A) "Active moneys" means an amount of public moneys in public depositories determined...
• Section 135.32 - Institutions Eligible As County Public Depositories.
  (A) Any national bank, any bank doing business under authority granted by the superintendent of financial institutions, or any bank doing business under authority...
• Section 135.321 - Disqualification As County Depository.
  No bank or savings and loan association is eligible to become a public depository or to receive any new public deposits pursuant to sections...
• Section 135.33 - Designating County Depositories Every Four Years.
  (A) The board of county commissioners shall meet every four years in the month next preceding the date of the expiration of its current...
• Section 135.34 - Review Of Investment Procedures Semiannually.
  The board of county commissioners may review semiannually the investment procedures of the investing authority and the investing authority shall provide the necessary information...
• Section 135.341 - County Investment Advisory Committee.
  (A) There shall be a county investment advisory committee consisting of three members: two county commissioners to be designated by the board of county...
• Section 135.35 - County Inactive Moneys.
  (A) The investing authority shall deposit or invest any part or all of the county's inactive moneys and shall invest all of the money...
• Section 135.351 - Crediting Interest.
  (A) Except as provided in sections 135.352 and 1545.22 of the Revised Code, all interest earned on money included within the county treasury shall...
• Section 135.352 - County Library And Local Government Support Fund.
  The investment authority shall invest all moneys in the county public library fund that are not distributed due to an appeal of the budget...
• Section 135.353 - County May Invest Inactive Moneys In Linked Deposits.
  (A) In addition to the investments specified in section 135.35 of the Revised Code, the investing authority of a county may do all of...
• Section 135.354 - Redeposit Of Inactive Moneys.
  (A) In addition to the authority provided in section 135.35 of the Revised Code for the investment or deposit of inactive moneys, the investing...
• Section 135.36 - Transferring County Funds From One Classification To Another.
  Whenever any deposit or investment acquired under section 135.35 of the Revised Code matures and becomes due and payable, the investing authority shall present...
• Section 135.37 - Security For Repayment Of County Public Moneys.
  (A) Except as provided in section 135.353 or 135.354 of the Revised Code, any institution described in section 135.32 of the Revised Code in...
• Section 135.38 - Exemption Of County Officials From Prohibition Against Interest In Contract.
  An officer, director, stockholder, employee, or owner of any interest in a public depository receiving public deposits pursuant to sections 135.31 to 135.40 of...
• Section 135.39 - Exemption Of County Officials From Liability.
  A county treasurer, county deputy treasurer, or members of a board of county commissioners, when acting as investing authorities, and their bondsmen or sureties...
• Section 135.40 - County Cash Reserve.
  A county treasurer may keep at all times in the vaults of his office such amount of public moneys, as a cash reserve, as...
• Section 135.45 - State Treasurer's Investment Pool.
  (A) Subject to division (B) of this section, a treasurer, governing board, or investing authority of a subdivision may pay public moneys of the...
• Section 135.451 - Investments Of History Connection And Capitol Square Review And Advisory Board.
  The Ohio history connection and the capitol square review and advisory board shall be eligible to pay any of their moneys into the Ohio...
• Section 135.46 - Investment Pools For Temporary Investment Of Bond Proceeds.
  (A) The treasurer of state may create a taxable investment pool or a tax-exempt investment pool, or both, for the purpose of providing a...
• Section 135.47 - Securities Lending Program - Fund.
  (A) There is hereby created the securities lending program. (B) There is hereby created in the state treasury the securities lending program fund. Income...
• Section 135.48 - Adoption Of Rules.
  The state board of deposit may adopt rules under section 111.15 of the Revised Code that are necessary to implement this chapter. Added by...
• Section 135.51 - Bank Or Building And Loan Association Defaulting As Public Depository - Retention And Disposition Of Securities.
  In case of any default on the part of a bank or domestic building and loan association in its capacity as depository of the...
• Section 135.52 - Bonds May Be Used In Anticipation Of Collections - Maturity - Limitation - Distribution Of Proceeds From Sale.
  In anticipation of the collection of the principal and interest of securities, or other disposition of them, as authorized by section 135.51 of the...
• Section 135.53 - Surplus Assigned And Delivered To Defaulting Bank Or Building And Loan Association.
  All principal and interest collected by the proper officer or agent of the county, municipal corporation, township, or school district, on account of the...
• Section 135.54 - Possession And Control Of Securities Vested In Authorized Agent - Powers.
  Immediately upon the issuance and sale of bonds as authorized by section 135.52 of the Revised Code, the possession, management, and control of the...
• Section 135.61 - Linked Deposit Program Definitions.
  As used in sections 135.61 to 135.67 of the Revised Code: (A) "Eligible small business" means any person, including, but not limited to a...
• Section 135.62 - Purpose Of Linked Deposit Program.
  The general assembly finds that many small businesses throughout the state are experiencing economic stagnation or decline, that high interest rates have caused small...
• Section 135.63 - Investing In Linked Deposit Programs.
  The treasurer of state may invest in linked deposits under sections 135.61 to 135.67, short-term installment loan linked deposits under sections 135.68 to 135.70,...
• Section 135.631 - Investing In Agricultural Linked Deposits.
  The treasurer of state shall attempt to place up to one hundred sixty-five million dollars of the amount authorized to be invested under section...
• Section 135.64 - Review Of Loan Applications.
  (A) An eligible lending institution that desires to receive a linked deposit shall accept and review applications for loans from eligible small businesses. The...
• Section 135.65 - Accepting Or Rejecting Loan Package.
  (A) The treasurer of state may accept or reject a linked deposit loan package or any portion thereof, based on the treasurer's evaluation of...
• Section 135.66 - Loan Rate - Monitoring Compliance.
  (A) Upon the placement of a linked deposit with an eligible lending institution, such institution is required to lend such funds to each approved...
• Section 135.67 - Liability Of State And State Treasurer.
  The state and the treasurer of state are not liable to any eligible lending institution in any manner for payment of the principal or...
• Section 135.68 - Short-term Installment Loan Linked Deposit Definitions.
  As used in sections 135.68 to 135.70 of the Revised Code: (A) "Eligible individual" means a person in this state. (B) "Eligible lending institution"...
• Section 135.69 - Short-term Installment Loan Linked Deposit Program.
  (A) An eligible lending institution shall enter into a deposit agreement with the treasurer of state, which agreement shall include requirements necessary to carry...
• Section 135.70 - Acceptance Of Loan Package - Certificates Of Deposit.
  (A) The treasurer of state may accept or reject a short-term installment loan linked deposit loan package or any portion of the package required...
• Section 135.71 - Agricultural Linked Deposit Definitions.
  As used in sections 135.71 to 135.76 of the Revised Code: (A) "Eligible agricultural business" means any person engaged in agriculture that has all...
• Section 135.72 - Purpose Of Agricultural Linked Deposit Program.
  The general assembly finds that there exists in this state an inadequate supply of agricultural credit and loan financing at affordable interest rates consistent...
• Section 135.73 - Review Of Loan Applications.
  (A) An eligible lending institution that desires to receive an agricultural linked deposit shall accept and review applications for loans from eligible agricultural businesses....
• Section 135.731 - Loans For Agricultural Businesses In The Western Basin.
  (A) For purposes of this section, "western basin" has the same meaning as in section 905.326 of the Revised Code. (B) Notwithstanding any provision...
• Section 135.74 - Accepting Or Rejecting Loan Package.
  (A) The treasurer of state may accept or reject an agricultural linked deposit loan package or any portion thereof, based on the treasurer's evaluation...
• Section 135.75 - Lending Of Funds; Monitoring Compliance.
  (A) Upon the placement of an agricultural linked deposit with an eligible lending institution, such institution is required to lend such funds to each...
• Section 135.76 - Liability Of State And State Treasurer.
  The state and the treasurer of state are not liable to any eligible lending institution in any manner for payment of the principal or...
• Section 135.80 - Municipal, Port Or Lake Facilities Authority, And County Linked Deposit Program.
  (A) The legislative authority of a municipal corporation, by ordinance; the board of directors of a port authority or a lake facilities authority, by...
• Section 135.801 - Adopting Resolution Implementing Residential Facility Linked Deposit Program.
  (A) As used in sections 135.801 to 135.803 of the Revised Code, "eligible lending institution," "eligible organization," "investing authority," "residential facility," and "residential facility...
• Section 135.802 - Contents Of Resolution Implementing Residential Facility Linked Deposit Program.
  The board of county commissioners shall include each of the following in a resolution implementing a residential facility linked deposit program under sections 5126.51...
• Section 135.803 - Certifying Availability Of Public Moneys.
  On receiving a resolution from the county board of developmental disabilities approving under section 5126.55 of the Revised Code development of a proposed residential...
• Section 135.804 - Property Tax Payment Linked Deposit Programs Definitions.
  As used in sections 135.804 to 135.807 of the Revised Code: (A) "Taxes" has the same meaning as in section 323.01 of the Revised...
• Section 135.805 - Property Tax Payment Linked Deposit Programs.
  (A) The general assembly finds that many low to moderate income senior citizens and permanently and totally disabled citizens face financial hardship and find...
• Section 135.806 - Duties Of Lending Institution On Receipt Of Rc 135.805 Certificate.
  Upon placement of a certificate of deposit with an eligible lending institution pursuant to an agreement described in section 135.805 of the Revised Code,...
• Section 135.807 - Delivery Of Lien Certificate To Eligible Lending Institution.
  (A) A property tax payment linked deposit program shall provide for the delivery of a lien certificate to an eligible lending institution making payment...
• Section 135.81 - Housing Linked Deposit Program Definitions.
  As used in sections 135.81 to 135.87 of the Revised Code: (A) "Eligible governmental subdivision" means a municipal corporation, port authority created in accordance...
• Section 135.82 - Purpose Of Housing Linked Deposit Program.
  (A) The general assembly finds that there exists in this state a lack of affordable financing options to promote solutions to a number of...
• Section 135.83 - Applying For Formation Of Partnership With Treasurer Of State.
  (A) An eligible governmental subdivision that has established an eligible governmental subdivision housing linked deposit program may apply to the treasurer of state for...
• Section 135.84 - Accepting Or Rejecting Application.
  (A) (1) The treasurer of state may accept or reject a housing linked deposit application submitted by an applicant, or any portion thereof, based...
• Section 135.85 - Lending Institution - Duties Upon Placement Of Housing Linked Deposit.
  (A) Upon placement of a housing linked deposit with an eligible lending institution pursuant to division (B) of section 135.84 of the Revised Code,...
• Section 135.86 - Monitoring Compliance.
  (A) The treasurer of state shall take any steps necessary to monitor compliance with sections 135.81 to 135.87 of the Revised Code by eligible...
• Section 135.87 - Liability Of State And State Treasurer.
  The state and the treasurer of state are not liable to any eligible lending institution in any manner for payment of principal or interest...
• Section 135.88 - [Repealed].
  Effective Date: 06-30-2002
• Section 135.91 - Assistive Technology Device Linked Deposit Definitions.
  As used in sections 135.91 to 135.97 of the Revised Code: (A) "Assistive technology device" means any item, piece of equipment, or product system,...
• Section 135.92 - Deposit Agreements.
  (A) An eligible lending institution shall enter into a deposit agreement with the treasurer of state, which agreement shall include requirements necessary to carry...
• Section 135.93 - Review Of Loan Applications.
  (A) An eligible lending institution that desires to receive an assistive technology device linked deposit shall accept and review applications for loans from eligible...
• Section 135.94 - Loan Rate.
  (A) Upon the placement of an assistive technology device linked deposit with an eligible lending institution, the institution shall lend funds to each approved...
• Section 135.95 - Accepting Or Rejecting Loan Package.
  (A) The treasurer of state may accept or reject an assistive technology device linked deposit loan package or any portion of the package required...
• Section 135.96 - Implementing Program.
  (A) The treasurer of state shall take all steps, including the development of guidelines, necessary to implement the assistive technology device linked deposit program...
• Section 135.97 - Immunity.
  (A) The state and the treasurer of state are not liable to any eligible lending institution in any manner for payment of the principal...

Last modified: October 10, 2016