Ohio Code 109.113 – Large settlements and awards fund
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(A) The large settlements and awards fund is created in the state treasury.
Terms Used In Ohio Code 109.113
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- state: means the state of Ohio. See Ohio Code 1.59
(B) The fund shall consist of:
(1) The proceeds of an award, adjudication, settlement, or compromise of claims collected or received by the office of the attorney general under division (B)(2) of section 109.112 of the Revised Code;
(2) Investment earnings on money in the fund.
(C) Pursuant to Ohio Constitution, Article II, Section 22, a specific appropriation shall be made by law before any money may be drawn from this fund.
(D) Appropriations made from this fund shall be consistent with applicable federal or state law.
Last updated February 7, 2024 at 5:19 PM