Application and Agreement for Deposit of Public Funds - Ohio

Application and Agreement for Deposit of Public Funds is a legal document that was released by the Office of the Ohio Treasurer - a government authority operating within Ohio.

FAQ

Q: What is the Application and Agreement for Deposit of Public Funds?
A: The Application and Agreement for Deposit of Public Funds is a document used in Ohio to apply for the deposit of public funds in a financial institution.

Q: Who can use this document?
A: This document is used by governmental entities and other entities authorized to hold public funds in Ohio.

Q: What is the purpose of this document?
A: The purpose of this document is to establish the terms and conditions under which a financial institution will hold and manage the public funds.

Q: What information is required in the application?
A: The application requires information about the entity applying for the deposit, the type of account requested, and the proposed depository institution.

Q: Are there any specific requirements for the depository institution?
A: Yes, the depository institution must meet certain requirements set by the Ohio Treasurer of State's office.

Q: Can multiple financial institutions be selected for the deposit?
A: Yes, multiple financial institutions can be selected, subject to certain conditions.

Q: What happens after the application is submitted?
A: After the application is submitted, it will be reviewed by the Ohio Treasurer of State's office, and a decision will be made regarding the deposit of public funds.

Q: Can the agreement be terminated?
A: Yes, either party may terminate the agreement with written notice to the other party.

Q: Is there any ongoing reporting or monitoring required?
A: Yes, the entity holding the public funds is required to provide periodic reports and allow for monitoring by the Ohio Treasurer of State's office.