(A) The treasurer of state may accept or reject a linked deposit savings package, or any portion of it, based on the treasurer of state’s evaluation of the amount of state funds to be deposited with an eligible savings institution.

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Terms Used In Ohio Code 135.702

  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • state: means the state of Ohio. See Ohio Code 1.59

(B) Upon acceptance of the linked deposit savings package or any portion of it, the treasurer of state may place, purchase, or designate a linked deposit with the eligible savings institution at the discount interest rate, and in accordance with the deposit agreement required under section 135.703 of the Revised Code and the procedures established by the treasurer of state.

(C) Eligible savings institutions shall fully comply with this chapter.

Last updated September 11, 2023 at 4:29 PM

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