Effective: December 22, 1992
Latest Legislation: Senate Bill 359 - 119th General Assembly
(A) There is hereby created the securities nlending program.
(B) There is hereby created in the state treasury the securities lending program fund. Income from the interest earnings of the securities lending program in an amount calculated pursuant to division (D) of this section shall be credited to the fund. All other such income shall be credited to the general revenue fund.
(C) The treasurer of state may use the securities lending program fund solely for operations of the office of the treasurer of state.
(D) The amount of income from the interest earnings of the securities lending program that shall be paid into the securities lending program fund shall not exceed an amount based on an annual rate of one-quarter of one per cent of the total average daily par value of assets in the securities lending program, as determined and calculated by the treasurer of state. Such income shall be paid on a monthly basis.