When a private entity engages in certain activities within the state, Ohio law requires that securities be pledged to the Ohio Treasurer for the benefit of the state agency that regulates such activities. In other situations, a state agency may require a private entity to provide collateral as a condition within a contract. The pledged monies, accounts and securities indemnify the relevant agency in the event that a pledger defaults on an obligation arising from the performance of the specific activity. To determine collateral sufficiency for obligations that must be secured by private entities, the entity must contact the individual state agency directly.
The collateral is held in trust with the Ohio Treasurer. As custodian, the Treasurer’s office maintains the collateral in accounts established for each agency and company or, in rare instances, secures the collateral in the Treasurer’s on-premises vault. All interest earnings are earmarked to the owner of the collateral.
The Treasurer’s office distributes quarterly inventory and periodic transaction reports to the agency. Prior to collateral reaching maturity, the Treasurer’s office notifies the state agency of the maturity date. The Treasurer’s office releases collateral only with written instructions from the agency to which it is pledged. Owners must contact the agency with a request for release.
Choose the title to obtain a document, form or link
- Collateral Pledge and Release Procedures
View procedures for submitting the forms for pledging or releasing securities for state agencies.
- Agency Collateral Pledge Form
State agencies should complete this form when requesting to pledge securities for safekeeping.
- Agency Collateral Request for Release Form
State agencies should complete this form when requesting to release securities pledged as collateral.
Abandoned Service Stations: ORC 3791.11
Bureau of Motor Vehicles: ORC 4509.62
Bureau of Workers Compensation: ORC 4141.241
Department of Agriculture: ORC 902.04
Department of Commerce: N/A
Financial Institutions: ORC 135.18
Trustee Banks: ORC 1111.04
Building & Loan Association: ORC 1155.15
Department of Insurance: ORC 3901.53
Department of Jobs & Family Services: ORC 4141.24
Department of Taxation: Motor Fuel Tax: ORC 5735.03
Department of Natural Resources: N/A
Mineral Resources: ORC 1509.07
Water: ORC 1521.061
Forestry: ORC 1503.05
Coal Mining: ORC 1501.13
Other Surface Mining: ORC 1514.04
State Parks: ORC 1501.10
Department of Developmental Disabilities: N/A
State Board of Career Colleges and Schools: ORC 3332.08
You can look up the relevant Ohio Revised Code (ORC) at Lawriter