Ohio Admin. Code 113-7-05 - Collateral and insurance

Current through all regulations passed and filed through December 3, 2021

(A) Each eligible lending institution awarded interim moneys under sections 135.01 to 135.21 of the Revised Code shall provide security for the repayment of all interim moneys by securing all uninsured public deposits of the state as set forth in divisions (B) to (J) of section 135.18 of the Revised Code.
(B) The treasurer of state shall not take into account private share insurance held by an eligible lending institution when calculating the uninsured amount of public moneys held by an eligible lending institution. All public moneys held by an eligible lending institution that are not insured by the national credit union administration or another agency or instrumentality of the federal government are uninsured public deposits that must be collateralized in accordance with section 135.18 of the Revised Code.
(C) The treasurer of state will not accept private excess share insurance as collateral for interim moneys held by an eligible lending institution pursuant to the agricultural linked deposit program, or the business linked deposit program, or the adoption linked deposit program.
(D) An officer, director, stockholder, employee, or owner of any interest in an eligible lending institution receiving interim moneys pursuant to sections 135.01 to 135.21 of the Revised Code shall not be deemed to be interested, either directly or indirectly, as a result of such relationship, in such interim moneys for the purpose of any law of this state prohibiting an officer of the state or of any subdivision from being interested in any contract of the state or of the subdivision.

Replaces: 113-07-05

Notes

Ohio Admin. Code 113-7-05
Effective: 11/7/2021
Five Year Review (FYR) Dates: 11/5/2024
Promulgated Under: 119.03
Statutory Authority: R.C. 135.78; R.C. 135.795
Rule Amplifies: R.C. 135.78; R.C. 135.79 -.796
Prior Effective Dates: 11/05/2019

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