Section 5126.55 | Resolution Approving or Disapproving Development of Proposed Residential Facility.
Effective: October 12, 2016 Latest Legislation: House Bill 158 – 131st General Assembly The county board of developmental disabilities shall review each application filed under section 5126.54 of the Revised Code and adopt a resolution approving or disapproving development of the proposed residential facility. The county board shall not approve development of the proposed residential […]
Section 5126.56 | Applying to Eligible Lending Institution After Approval.
Effective: July 17, 1990 Latest Legislation: House Bill 697 – 118th General Assembly On receiving a resolution under section 5126.55 of the Revised Code approving development of a residential facility, an eligible organization may apply to an eligible lending institution, in the form prescribed by the institution, for a residential facility linked deposit loan to […]
Section 5126.57 | Approving or Disapproving Application for Residential Facility Linked Deposit Loan.
Effective: October 6, 2009 Latest Legislation: Senate Bill 79 – 128th General Assembly In reviewing an application for a residential facility linked deposit loan, the eligible lending institution shall apply the same lending standards as it customarily applies to applications for loans for the development of residential property. The lending institution shall either approve or […]
Section 5126.58 | Board Approval or Disapproval of Loan Application.
Effective: October 12, 2016 Latest Legislation: House Bill 158 – 131st General Assembly The county board of developmental disabilities shall adopt a resolution approving or disapproving an eligible organization’s application for a residential facility linked deposit loan. The county board shall disapprove an application unless it finds, based on the application and its evaluation of […]
Section 5126.59 | Residential Facility Linked Deposit Agreement.
Effective: October 6, 2009 Latest Legislation: Senate Bill 79 – 128th General Assembly On acceptance of a residential facility linked deposit loan by the county board of developmental disabilities, the county’s investing authority shall enter into a residential facility linked deposit agreement with the eligible lending institution. The agreement shall include all of the following […]
Section 5126.60 | Lending Value of Residential Facility Linked Deposit.
Effective: July 17, 1990 Latest Legislation: House Bill 697 – 118th General Assembly On placement of a residential facility linked deposit pursuant to the residential facility linked deposit agreement under section 5126.59 of the Revised Code, the eligible lending institution shall lend the value of the residential facility linked deposit in accordance with the agreement. […]
Section 5126.61 | Monitoring Compliance – Annual Report.
Effective: October 6, 2009 Latest Legislation: Senate Bill 79 – 128th General Assembly The county investing authority shall monitor the compliance with sections 5126.51 to 5126.62 of the Revised Code of eligible lending institutions and eligible organizations receiving residential facility linked deposits and loans. The investing authority shall annually report to the board of county […]
Section 5126.62 | No Liability for Defaults on Loans.
Effective: October 6, 2009 Latest Legislation: Senate Bill 79 – 128th General Assembly The county, board of county commissioners, county board of developmental disabilities, and county investing authority are not liable to any eligible lending institution in any manner for payment of the principal or interest on a loan to an eligible organization. Delay in […]
Section 5126.99 | Penalty.
Effective: October 6, 2009 Latest Legislation: Senate Bill 79 – 128th General Assembly (A) Whoever violates division (B) of section 5126.044 of the Revised Code is guilty of a misdemeanor of the first degree. (B) Whoever violates division (F) of section 5126.253 of the Revised Code shall be punished as follows: (1) Except as otherwise […]
Section 5126.50 | Standards for Residential Facility Linked Deposit Program.
Effective: October 6, 2009 Latest Legislation: Senate Bill 79 – 128th General Assembly If the board of county commissioners adopts a resolution under sections 135.801 and 135.802 of the Revised Code implementing a residential facility linked deposit program, the county board of developmental disabilities shall adopt a resolution that does all of the following: (A) […]