Effective: October 7, 1993
Latest Legislation: Senate Bill 12 - 120th General Assembly
As used in sections 135.31 to 135.40 of the Revised Code:
(A) "Active moneys" means an amount of public moneys in public depositories determined to be necessary to meet current demands upon a county treasury, and deposited in any of the following:
(1) A commercial account and withdrawable, in whole or in part, on demand;
(2) A negotiable order of withdrawal account as authorized in the "Consumer Checking Account Equity Act of 1980," 94 Stat. 146, 12 U.S.C.A. 1832(a);
(3) A money market deposit account as authorized in the "Garn-St. Germain Depository Institutions Act of 1982," 96 Stat. 1501, 12 U.S.C. 3503.
(B) "Inactive moneys" means all public moneys in public depositories in excess of the amount determined to be needed as active moneys.
(C) "Investing authority" means the treasurer, except as provided in section 135.34 of the Revised Code.
(D) "Public deposits" means public moneys deposited in a public depository pursuant to sections 135.31 to 135.40 of the Revised Code.
(E) "Public moneys" means all moneys in the treasury of a county or moneys coming lawfully into the possession or custody of the treasurer.
(F) "Treasurer" means the county treasurer.
(G) "No-load money market mutual fund" means a no-load money market mutual fund that is registered as an investment company under the "Investment Company Act of 1940," 54 Stat. 789, 15 U.S.C.A. 80a-1 to 80a-64, and that has the highest letter or numerical rating provided by at least one nationally recognized standard rating service.