The board of county commissioners may review semiannually the investment procedures
of the investing authority and the investing authority shall provide the necessary
information to accomplish such review. When it is determined that the investing authority has failed to invest the inactive
moneys of the county as provided by law, or in documented substantial, material, and
continuing disregard of the advice or written policies of the county investment advisory
committee pursuant to section 135.341 of the Revised Code, the board shall inform, by written notice, the investing authority of its finding. When, at the time of the next succeeding semiannual review, the board finds that
such procedures, as included in the written notice, have not been corrected, the board
may designate, by resolution, the board as a whole, one of its members, or one of
its employees as the investing authority, and thereafter, until such action is rescinded
by resolution of the board, the investing authority shall be as designated by the
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