Ohio Administrative Code › Title 113 - Treasurer of State › Chapter 113-10 - Investment Pool › Section 113-10-01 - Treasurer's investment pool

Current through all regulations passed and filed through July 1, 2024
(A) Any political subdivision desiring to
			 participate in the treasurer's investment pool must complete an application and
			 such other forms as specified by the treasurer. It is the responsibility of a
			 political subdivision to ensure that the subdivision's participation in the
			 treasurer's investment pool is authorized by local law or that its
			 participation has been authorized by the appropriate local public
			 officials.
(B) Deposits into the
			 treasurer's investment pool will be accepted by  ACH, wire transfer, or other method as may be
			 authorized by the treasurer. To the extent deemed practical by the
			 treasurer, there shall be no minimum dollar amount of deposits or minimum
			 period of time for which deposits must remain in the state treasurer's
			 investment pool. At the treasurer's
			 discretion, advanced notice requirements and/or daily size limitations may be
			 imposed for deposits. All such transaction limits and advance notice
			 requirements will be disclosed to participants All accounts of the
			 participant will be combined for the purposes of calculating
			 transaction dollar limitations.
(C) Deposits by wire transfer or ACH must be
			 received by the custodian bank no later than the cut-off
			 time as determined by the discretion of the treasurer  in order to
			 receive that day's interest. Deposits by check will become effective when
			 collected funds are received by the custodian bank. Such funds will then be
			 credited to the participant's account.
(D) Redemptions will be allowed against
			 participants' accounts by 
			 ACH, wire transfer, or other method as authorized by
			 the treasurer
								. Redemptions
			 by wire transfer will be executed on the same business day as requested,
			 provided that a written redemption request or telephone instructions are
			 received by the co-administrator prior to the cut-off time as determined by the
			 treasurer. Any requests for redemption must be authorized by
			 one or more of the appropriate
			 individuals identified in the forms as provided in
			 paragraph (A) of this rule. At the treasurer's discretion advance
			 notice requirements and/or daily size limitations may be imposed for
			 redemptions. All such transaction limits and advanced notice requirements will
			 be disclosed to participants. All accounts of the participant will be
			 combined for the purpose of calculating transaction dollar
			 limitations.
(E) If a deposit has
			 been made by ACH  and a redemption
			 is requested, the deposit by ACH 
			 must be 
								credited by the custodian bank prior to processing the
			 redemption.  The treasurer's investment
			 pool may reject the redemption request if the 
								ACH has
			 not been credited.
(F) Interest will be declared and accrued
			 daily to each account in the treasurer's investment pool. As used in this rule,
			 "interest" means the gross income of the investment pool minus expenses
			 incurred in the administration of the investment pool.
(G) Interest shall be credited to each
			 participant's account on the day of deposit, as provided in paragraph (C) of
			 this rule; however, no interest shall be credited on the day of redemption for
			 the amount withdrawn.
(H) The
			 treasurer's investment pool shall provide monthly statements to each
			 participant in the pool summarizing the account activity of that participant
			 and the interest credited to that participant's account.
(I) A participant in the treasurer's
			 investment pool may elect to have any monies due from the state of Ohio or from
			 any other source either wired or sent by ACH directly to the custodian bank for
			 credit to their investment pool account, as provided in paragraph (C) of this
			 rule.
(J) Notwithstanding the
			 specific provisions of this rule, the treasurer may take whatever action the
			 treasurer deems appropriate or necessary to protect the participants in and the
			 integrity of the treasurer's investment pool. The treasurer may appoint such
			 administrators, custodians, investment managers, transfer agents, dividend
			 agents, rating agency, or any other entities that the treasurer deems necessary
			 for the efficient administration of the investment pool.
(K)
			 Investment advisor and administrative expense fees paid to the treasurer shall
			 be used solely to pay budgeted and appropriated  operating expenses
			 of the treasurer of state's office.