Ohio Revised Code
Chapter 131 | Revenues and Funds
Section 131.10 | Subordination of Liens Upon Securities Held to Insure Contractual Obligations.

Effective: October 1, 1953
Latest Legislation: House Bill 1 - 100th General Assembly
A political subdivision, taxing unit, board of library trustees, or board of directors of a municipal university of this state holding securities under authority of any section of the Revised Code to insure the faithful performance of depository contracts of banks which subsequent to the execution of such contracts are operated by a conservator, state or national, the possession of which is assumed by the superintendent of banks, a receiver appointed by the comptroller of the currency, or other person lawfully in charge of the business and affairs of a closed bank, may subordinate its lien upon such securities to that of a subsequent pledgee of such securities who agrees to advance funds upon such securities. The entire proceeds realized from such subsequent pledge shall be applied by the conservator, the superintendent of banks, the receiver appointed by the comptroller of the currency, or other person lawfully in charge of the business and affairs of a closed bank to reduce the deposit liability of such bank to the political subdivision, taxing unit, board of library trustees, or board of directors of a municipal university. As a part of such transaction such political subdivision, taxing unit, board of library trustees, or board of directors of a municipal university may deliver to such pledgee such securities to be held by it until the lien of such pledgee is satisfied and may consent to the liquidation of such securities in such manner as is agreed upon with such pledgee.

Structure Ohio Revised Code

Ohio Revised Code

Title 1 | State Government

Chapter 131 | Revenues and Funds

Section 131.01 | Revenues and Funds Definitions.

Section 131.02 | Collecting Amounts Due to State.

Section 131.021 | Certification of Pending Nonfinal Tax Liability to Attorney General.

Section 131.022 | Sale of Final Overdue Claims - Notice to Obligor.

Section 131.023 | Biennial Report of Collection Efforts by Attorney General.

Section 131.024 | Recovery of Unclaimed Funds.

Section 131.025 | Participation in Federal Treasury Offset Program.

Section 131.03 | Collection of Delinquent Charges.

Section 131.09 | First Mortgage Loans as Security for Deposit of Public Money.

Section 131.10 | Subordination of Liens Upon Securities Held to Insure Contractual Obligations.

Section 131.11 | Security Required for County Funds Deposited by Certain Public Officials; Service Charge.

Section 131.12 | Continuous Undertaking - New Undertaking on Increase or Decrease of Deposits - Release.

Section 131.13 | Securities Accepted in Lieu of Undertaking.

Section 131.14 | Hypothecation - Release.

Section 131.15 | Safekeeping of Hypothecated Securities.

Section 131.16 | Liability of Depositor - Use of Safety Deposit Boxes.

Section 131.18 | Release and Discharge of Treasurer, Clerk, or Judge From Liability.

Section 131.19 | Finding Necessary to Release Treasurer or Clerk.

Section 131.20 | Appeal From Findings.

Section 131.21 | Judgment Fund.

Section 131.22 | Transfer of Powers From Board of Trustees of the Sinking Fund to Treasurer.

Section 131.23 | Issuing Bonds to Assist in Paying Unsecured Indebtedness and Disability Assistance.

Section 131.32 | Classifying Funds of State and Custodial Funds of State Treasurer.

Section 131.33 | Unexpended Balances.

Section 131.331 | Funds Created for Specific Agencies.

Section 131.34 | Transfers Between Funds or Between State Agencies.

Section 131.35 | Spending Federal and Certain Nonfederal Revenue.

Section 131.36 | Transfers of Funds Between Federal Government and State.

Section 131.37 | Cash Management Improvement Fund.

Section 131.38 | Annual Report Regarding Segregated Custodial Funds.

Section 131.39 | Refunds.

Section 131.41 | Family Services Stabilization Fund.

Section 131.43 | Budget Stabilization Fund.

Section 131.44 | Transferring Surplus Revenue to Budget Stabilization Fund and Income Tax Reduction Fund.

Section 131.45 | Minimum Appropriation per Pupil for Primary and Secondary Educational Purposes.

Section 131.50 | State Land Royalty Fund.

Section 131.51 | Credits to Local Government Funds.

Section 131.511 | Credit to Local Government Audit Support Fund.

Section 131.55 | Aggregate General Revenue Fund Appropriations Defined.

Section 131.56 | Post-2007 Fund Appropriations Not to Exceed Limitations.

Section 131.57 | Exceptions to Aggregate General Revenue Fund Appropriation Limitations.

Section 131.58 | Exclusions From Aggregate General Revenue Fund Appropriations.

Section 131.59 | Obligation to Make Debt Service Payments Unaffected.

Section 131.60 | Appropriations Limitations Do Not Apply to Unexpended Balances.