Ohio Code 5126.51 – Residential facility linked deposit program definitions
As used in sections 5126.51 to 5126.62 of the Revised Code:
Terms Used In Ohio Code 5126.51
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(A) “Develop” or “development,” in contexts not referring to developmental disabilities, means construction or rehabilitation.
(B) “Eligible lending institution” means a financial institution that meets all of the following requirements:
(1) Is eligible to make commercial loans;
(2) Has an office located within the territorial limits of the county;
(3) Is an institution into which the county’s investing authority may deposit the public moneys of the county;
(4) Holds itself out as participating in the residential facility linked deposit program.
(C) “Eligible organization” means a nonprofit corporation that has as its primary activity the development or operation of a residential facility.
(D) “Investing authority” has the same meaning as in section 135.31 of the Revised Code.
(E) “Residential facility” has the same meaning as in section 5123.19 of the Revised Code.
(F) “Residential facility linked deposit program” means the linked deposit program provided for in sections 5126.51 to 5126.62 of the Revised Code. A “residential facility linked deposit” is a deposit of public moneys of the county under, and for the purposes of, the residential facility linked deposit program. A “residential facility linked deposit loan” is a loan under, and for the purposes of, the residential facility linked deposit program.