Ohio Revised Code
Chapter 135 | Uniform Depository Act
Section 135.45 | State Treasurer's Investment Pool.

Effective: September 30, 2021
Latest Legislation: House Bill 110 - 134th General Assembly
(A) Subject to division (B) of this section, a treasurer, governing board, or investing authority of a subdivision may pay public moneys of the subdivision into the Ohio subdivision's fund, which may be established in the custody of the treasurer of state. The treasurer of state shall invest the moneys in the fund in separately managed accounts and pooled accounts, including the state treasurer's investment pool, in the same manner, in the same types of instruments, and subject to the same limitations provided for the deposit and investment of interim moneys of the state, except that the fund shall not be invested in the linked deposits authorized under sections 135.61 to 135.67 of the Revised Code.
(B)(1) On and after July 1, 1997, a treasurer, governing board, or investing authority of a subdivision that has not entered into an agreement with the treasurer of state under division (C) of this section shall not invest public moneys of the subdivision in a pooled account of the Ohio subdivision's fund under division (B)(6) of section 135.14 of the Revised Code or division (A)(6) of section 135.35 of the Revised Code if the pool does not maintain the highest letter or numerical rating provided by at least one nationally recognized standard rating service.
(2) Upon receipt of notice that the pool does not maintain the highest letter or numerical rating required under division (B)(1) of this section, the treasurer of state shall have ninety days to obtain the required highest letter or numerical rating. If the treasurer of state fails to obtain the required highest letter or numerical rating, the treasurer of state shall have an additional one hundred eighty days to develop a plan to dissolve the pool. The plan shall include reasonable standards for the equitable return of public moneys in the pool to those subdivisions participating in the pool.
(3) Treasurers, governing boards, or investing authorities of subdivisions participating in the pool shall not be required to divest in the pool during the initial one hundred eighty days following the treasurer of state's receipt of notice under division (B)(2) of this section.
(C) A treasurer, governing board, or investing authority of a subdivision that wishes to invest public moneys of the subdivision in a separately managed account or pooled account of the Ohio subdivision's fund may enter into an agreement with the treasurer of state that sets forth the manner in which the money is to be invested. The treasurer of state shall invest the moneys in accordance with the agreement, subject to the limitations set forth in division (A) of this section. For purposes of this division, the limitation on investments in debt interests provided in division (A)(11)(a) of section 135.143 of the Revised Code shall not apply to a subdivision's excess reserves.
(D) The treasurer of state shall adopt such rules as are necessary for the implementation of this section, including the efficient administration of and accounting for the separately managed accounts and pooled accounts, including the state treasurer's investment pool, and the specification of minimum amounts that may be paid into such pools and minimum periods of time for which such payments shall be retained in the pools. The rules shall provide for the administrative expenses of the separately managed accounts and pooled accounts, including the state treasurer's investment pool, to be paid from the earnings and for the interest earnings in excess of such expenses to be credited to the several treasurers, governing boards, and investing authorities participating in a pool in a manner which equitably reflects the differing amounts of their respective investments in the pool and the differing periods of time for which such amounts are in the pool.
(E) The treasurer of state shall give bond with sufficient sureties, payable to the treasurers, governing boards, and investing authorities of subdivisions participating in the fund, for the benefit of the subdivisions whose moneys are paid into the fund for investment, in the total penal sum of two hundred fifty thousand dollars, conditioned for the faithful discharge of the treasurer of state's duties in relation to the fund.
(F) The treasurer of state and the treasurer of state's bonders or surety are liable for the loss of any interim moneys of the state and subdivisions invested under this section to the same extent the treasurer of state and the treasurer of state's bonders or surety are liable for the loss of public moneys under section 135.19 of the Revised Code.
(G) As used in this section:
(1) "Interim moneys" and "governing board" have the same meanings as in section 135.01 of the Revised Code.
(2)(a) "Subdivision" has the same meaning as in section 135.01 of the Revised Code, but also includes a county, a municipal corporation that has adopted a charter under Article XVIII, Ohio Constitution, or any government entity for which the fund is a permissible investment.
(b) "Public moneys of a subdivision" has the same meaning as in section 135.01 of the Revised Code, but also includes "public moneys" as defined in section 135.31 of the Revised Code, and funds held in the custody of the treasurer of state notwithstanding any limitations on the permissible investments of such funds.
(3) "Treasurer" has the same meaning as in sections 135.01 and 135.31 of the Revised Code.
(4) "Investing authority" has the same meaning as in section 135.31 of the Revised Code.
(5) "Excess reserves" means the amount of a subdivision's public moneys that exceed the average of a subdivision's annual operating expenses in the immediately preceding three fiscal years.
Last updated July 14, 2021 at 12:47 PM

Structure Ohio Revised Code

Ohio Revised Code

Title 1 | State Government

Chapter 135 | Uniform Depository Act

Section 135.01 | Uniform Depository Act Definitions.

Section 135.02 | State Board of Deposit.

Section 135.03 | Institutions Eligible as Public Depositories.

Section 135.032 | Disqualification as Depository.

Section 135.04 | Eligibility for State Deposits - Warrant Clearance Accounts.

Section 135.05 | Estimate of Inactive Deposits.

Section 135.06 | Application for Inactive Deposits.

Section 135.07 | Award of Inactive Deposits.

Section 135.08 | Application for Interim Deposits.

Section 135.09 | Award of Interim Deposits.

Section 135.10 | Application for Active Deposits.

Section 135.101 | Savenow Program Definitions.

Section 135.102 | Purpose of Savenow Program.

Section 135.103 | Investment in Savenow Linked Deposits.

Section 135.104 | Resident Participation in Savenow Program.

Section 135.105 | Offer of Savenow Accounts to Residents.

Section 135.106 | Immunity of State - Effect of Misconduct on Deposit Agreement.

Section 135.11 | Exemption From Prohibition Against Interest in Contract.

Section 135.12 | Designating Depositories Biennially.

Section 135.13 | Evidence of Inactive and Interim Deposits.

Section 135.14 | Investing Interim Moneys of Public Subdivisions.

Section 135.141 | Municipal Corporation May Invest Interim Moneys in Linked Deposits.

Section 135.142 | Board of Education Investment of Interim Moneys.

Section 135.143 | Investment Authority for State Interim Funds.

Section 135.144 | Investment of Interim Moneys in Federally Insured Certificates of Deposit.

Section 135.145 | Redeposit of Interim Moneys Moneys.

Section 135.15 | Transferring Funds From One Classification to Another.

Section 135.16 | Payment of Interest.

Section 135.17 | Cash Reserve.

Section 135.18 | Security for Repayment of Public Moneys.

Section 135.181 | Optional Pledging Requirements.

Section 135.182 | Ohio Pooled Collateral Program.

Section 135.19 | Failure of Public Depository.

Section 135.20 | Proportion of Deposits in Various Banks Subject to Reasonable Variation.

Section 135.21 | Investment Earnings Apportionment and Crediting.

Section 135.22 | Annual Continuing Education Programs for Treasurers.

Section 135.31 | County Depository Definitions.

Section 135.32 | Institutions Eligible as County Public Depositories.

Section 135.321 | Disqualification as County Depository.

Section 135.33 | Designating County Depositories Every Four Years.

Section 135.34 | Review of Investment Procedures Semiannually.

Section 135.341 | County Investment Advisory Committee.

Section 135.35 | County Inactive Moneys.

Section 135.351 | Crediting Interest.

Section 135.352 | County Library and Local Government Support Fund.

Section 135.353 | County May Invest Inactive Moneys in Linked Deposits.

Section 135.354 | Redeposit of Inactive Moneys.

Section 135.36 | Transferring County Funds From One Classification to Another.

Section 135.37 | Security for Repayment of County Public Moneys.

Section 135.38 | Exemption of County Officials From Prohibition Against Interest in Contract.

Section 135.39 | Exemption of County Officials From Liability.

Section 135.40 | County Cash Reserve.

Section 135.45 | State Treasurer's Investment Pool.

Section 135.451 | Investments of History Connection and Capitol Square Review and Advisory Board.

Section 135.46 | Investment Pools for Temporary Investment of Bond Proceeds.

Section 135.47 | Securities Lending Program - Fund.

Section 135.48 | Adoption of Rules.

Section 135.51 | Bank Defaulting as Public Depository; Retention and Disposition of Securities.

Section 135.52 | Bonds May Be Used in Anticipation of Collections - Maturity - Limitation - Distribution of Proceeds From Sale.

Section 135.53 | Surplus Assigned and Delivered to Defaulting Bank or Building and Loan Association.

Section 135.54 | Possession and Control of Securities Vested in Authorized Agent - Powers.

Section 135.61 | Linked Deposit Program Definitions.

Section 135.62 | Purpose of Linked Deposit Program.

Section 135.63 | Investing in Linked Deposit Programs.

Section 135.64 | Review of Loan Applications.

Section 135.65 | Accepting or Rejecting Loan Package.

Section 135.66 | Loan Rate - Monitoring Compliance.

Section 135.67 | Liability of State and State Treasurer.

Section 135.68 | Short-Term Installment Loan Linked Deposit Definitions.

Section 135.69 | Short-Term Installment Loan Linked Deposit Program.

Section 135.70 | Acceptance of Loan Package - Certificates of Deposit.

Section 135.71 | Agricultural Linked Deposit Definitions.

Section 135.72 | Purpose of Agricultural Linked Deposit Program.

Section 135.73 | Review of Loan Applications.

Section 135.74 | Accepting or Rejecting Loan Package.

Section 135.75 | Lending of Funds; Monitoring Compliance.

Section 135.76 | Liability of State and State Treasurer.

Section 135.77 | Definitions Regarding Business Linked Deposit Program.

Section 135.771 | Statement of Policy.

Section 135.772 | Participation by Lending Institutions.

Section 135.773 | Acceptance or Rejection by Treasurer of State.

Section 135.774 | Loan Rates; Implementation; Liability.

Section 135.78 | Adoption of Rules; Payment of Interest.

Section 135.79 | Adoption Linked Deposit Program-Definitions.

Section 135.791 | Legislative Findings and Intent.

Section 135.792 | Loan Applications and Packages.

Section 135.793 | Loan Package Review and Deposit Agreements.

Section 135.794 | Loan Execution and Treasurer's Oversight.

Section 135.795 | Rules.

Section 135.796 | State Protected From Default.

Section 135.80 | Municipal, Port or Lake Facilities Authority, and County Linked Deposit Program.

Section 135.801 | Adopting Resolution Implementing Residential Facility Linked Deposit Program.

Section 135.802 | Contents of Resolution Implementing Residential Facility Linked Deposit Program.

Section 135.803 | Certifying Availability of Public Moneys.

Section 135.804 | Property Tax Payment Linked Deposit Programs Definitions.

Section 135.805 | Property Tax Payment Linked Deposit Programs.

Section 135.806 | Duties of Lending Institution on Receipt of Rc 135.805 Certificate.

Section 135.807 | Delivery of Lien Certificate to Eligible Lending Institution.

Section 135.81 | Housing Linked Deposit Program Definitions.

Section 135.82 | Purpose of Housing Linked Deposit Program.

Section 135.83 | Applying for Formation of Partnership With Treasurer of State.

Section 135.84 | Accepting or Rejecting Application.

Section 135.85 | Lending Institution - Duties Upon Placement of Housing Linked Deposit.

Section 135.86 | Monitoring Compliance.

Section 135.87 | Liability of State and State Treasurer.

Section 135.91 | Assistive Technology Device Linked Deposit Definitions.

Section 135.92 | Deposit Agreements.

Section 135.93 | Review of Loan Applications.

Section 135.94 | Loan Rate.

Section 135.95 | Accepting or Rejecting Loan Package.

Section 135.96 | Implementing Program.

Section 135.97 | Immunity.