Money deposited with the superintendent of Ohio deaf and blind education services by parents, relatives, guardians, and friends for the special benefit of any pupil at the state school for the blind or the state school for the deaf shall remain in the hands of the superintendent for use accordingly. The superintendent shall deposit the money into one or more personal deposit funds. The superintendent shall keep itemized book accounts of the receipt and disposition of the money, which books shall be open at all times to the inspection of the director of education and workforce. The superintendent of Ohio deaf and blind education services shall adopt procedures governing the deposit, transfer, withdrawal, or investment of the money and the investment earnings of the money.

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Whenever a pupil ceases to be enrolled in the state school for the blind or the state school for the deaf, if personal money of the pupil remains in the hands of the superintendent of Ohio deaf and blind education services and no demand is made upon the superintendent by the pupil or the pupil’s parent or guardian, the superintendent shall hold the money in a personal deposit fund for a period of at least one year. During that time, the superintendent shall make every effort possible to locate the pupil or the pupil’s parent or guardian. If, at the end of this period, no demand has been made for the money of a pupil in the state school for the blind, the superintendent shall dispose of the money by transferring it to the state school for the blind educational program expense fund established by section 3325.17 of the Revised Code. If at the end of this period, no demand has been made for the money of a pupil in the state school for the deaf, the superintendent shall dispose of the money by transferring it to the state school for the deaf educational program expenses fund established by section 3325.16 of the Revised Code.