Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2026 | Updated by Findlaw Staff
(A)(1) Upon the treasurer of state placing, purchasing, or designating a linked deposit, the eligible savings institution shall offer the premium savings rate on a linked deposit savings account to each approved eligible participant listed in the accepted linked deposit savings package, and in accordance with the deposit agreement required by section 135.703 of the Revised Code. The premium savings rate shall apply to a linked deposit savings account as determined by the treasurer of state. Unless otherwise specified in the deposit agreement, the premium savings rate shall be at a rate equal to or greater than the present savings rate applicable to each specific eligible participant in the accepted linked deposit savings package plus the difference between the prevailing interest rate and the discount interest rate at which the linked deposits were placed, made, or designated.
(2) The premium savings rate shall only apply to a linked deposit savings account for the duration of the program period. After such time, the eligible participant's savings account is no longer a linked deposit savings account, and the eligible savings institution may determine and apply a market interest rate to the account.
(B) The eligible savings institution shall provide to the treasurer of state a certificate of compliance with division (A) of this section in the form and manner prescribed by the treasurer of state.
(C) At the time of maturity, the eligible savings institution shall return the amount of the corresponding linked deposit to the treasurer of state in a timely manner, as prescribed by the treasurer of state.
(D) The treasurer of state shall take any and all steps necessary to implement and administer the linked deposit programs, including the development of any guidelines as necessary.
Cite this article: FindLaw.com - Ohio Revised Code Title I. State Government § 135.704 - last updated January 01, 2026 | https://codes.findlaw.com/oh/title-i-state-government/oh-rev-code-sect-135-704/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)