2006 Ohio Revised Code - 135.03. Financial institutions eligible for deposits; limit.

§ 135.03. Financial institutions eligible for deposits; limit.
 

Any national bank located in this state and any bank as defined by section 1101.01 of the Revised Code, subject to inspection by the superintendent of financial institutions, is eligible to become a public depository, subject to sections 135.01 to 135.21 of the Revised Code. No bank shall receive or have on deposit at any one time public moneys, including public moneys as defined in section 135.31 of the Revised Code, in an aggregate amount in excess of thirty per cent of its total assets, as shown in its latest report to the superintendent of financial institutions or comptroller of the currency. 
 

Any domestic association as defined in section 1151.01 of the Revised Code, or any savings bank as defined in section 1161.01 of the Revised Code, authorized to accept deposits is eligible to become a public depository, subject to sections 135.01 to 135.21 of the Revised Code. No domestic association or savings bank shall receive or have on deposit at any one time public moneys, including public moneys as defined in section 135.31 of the Revised Code, in an aggregate amount in excess of thirty per cent of its total assets, as shown in its latest report to the superintendent of financial institutions or federal home loan bank board. 
 

HISTORY: 132 v S 321 (Eff 6-11-68); 135 v S 141 (Eff 1-1-75); 136 v H 45 (Eff 5-12-75); 139 v H 255 (Eff 11-5-81); 139 v H 230 (Eff 3-15-82); 140 v S 264 (Eff 9-3-84); 146 v S 162 (Eff 10-29-95); 146 v S 293. Eff 9-26-96.
 

Analogous to former RC § 135.04 (GC § 2296-4; 117 v 226; Bureau of Code Revision, 10-1-53; 132 v S 97), repealed 132 v S 321, § 2, eff 6-11-68. 

Not analogous to former RC § 135.03 (GC § 2296-3; 117 v 226; Bureau of Code Revision, 10-1-53), repealed 132 v S 321, § 2, eff 6-11-68.

For section analogous to former RC § 135.03, see RC § 135.19.