Ohio § 5126.60 Lending value of residential facility linked deposit

Ohio Statutes

§ 5126.60 — Lending value of residential facility linked deposit

Ohio § 5126.60

Title 51Public Welfare

Ch. 5126County Boards of Developmental Disabilities

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Bluebook

Ohio Rev. Code Ann. § 5126.60 (2026).

Text

On placement of a residential facility linked deposit pursuant to the residential facility linked deposit agreement under section5126.59of the Revised Code, the eligible lending institution shall lend the value of the residential facility linked deposit in accordance with the agreement. The loan shall be at an annual interest rate that is the same number of percentage points below the annual borrowing rate currently applicable to similar loans as the annual interest rate agreed to for certificates of deposit placed pursuant to division (A) of section5126.59of the Revised Code is below current annual market rates.

On complying with the agreement as provided in this section, the eligible lending institution shall transmit to the county investing authority, in the form prescribed by the resi

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On placement of a residential facility linked deposit pursuant to the residential facility linked deposit agreement under section5126.59of the Revised Code, the eligible lending institution shall lend the value of the residential facility linked deposit in accordance with the agreement. The loan shall be at an annual interest rate that is the same number of percentage points below the annual borrowing rate currently applicable to similar loans as the annual interest rate agreed to for certificates of deposit placed pursuant to division (A) of section5126.59of the Revised Code is below current annual market rates.

On complying with the agreement as provided in this section, the eligible lending institution shall transmit to the county investing authority, in the form prescribed by the residential facility linked deposit agreement, a certification of its compliance.