Ohio Revised Code
Chapter 135 | Uniform Depository Act
Section 135.66 | Loan Rate - Monitoring Compliance.

Effective: September 29, 2011
Latest Legislation: House Bill 153 - 129th General Assembly
(A) Upon the placement of a linked deposit with an eligible lending institution, such institution is required to lend such funds to each approved eligible small business listed in the linked deposit loan package required by division (D) of section 135.64 of the Revised Code and in accordance with the deposit agreement required by division (C) of section 135.65 of the Revised Code. The loan shall be at a rate that reflects a percentage rate reduction below the present borrowing rate applicable to each business that is equal to the percentage rate reduction below market rates at which the certificates of deposit or other financial institution instruments that constitute the linked deposit were placed. A certification of compliance with this section in the form and manner as prescribed by the treasurer of state shall be required of the eligible lending institution.
(B) The treasurer of state shall take any and all steps necessary to implement the linked deposit program and monitor compliance of eligible lending institutions and eligible small businesses, including the development of guidelines as necessary. The treasurer of state and the department of development shall notify each other at least quarterly of the names of the businesses receiving financial assistance from their respective programs.
Annually, by the first day of February, the treasurer of state shall report on the linked deposits program for the preceding calendar year to the governor, the speaker of the house of representatives, and the president of the senate. The speaker of the house shall transmit copies of this report to the chairpersons of the standing committees in the house which customarily consider legislation regarding agriculture and small business, and the president of the senate shall transmit copies of this report to the chairpersons of the standing committees in the senate which customarily consider legislation regarding agriculture and small business. The report shall set forth the linked deposits made by the treasurer of state under the program during the year and shall include information regarding the nature, terms, and amounts of the loans upon which the linked deposits were based and the eligible small businesses to which the loans were made.

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.