§ 321.02. Active, inactive, and interim deposits defined.

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"Active deposits" means a deposit of public money which may be withdrawn upon demand; including the establishment of a savings account.

"Inactive deposits" means a deposit of public money at interest which may be withdrawn only in accordance with the applicable regulations of the appropriate regulatory authorities. Inactive deposits are commonly referred to as certificates of deposit.

"Interim deposits" has the same meaning as set forth in Ohio R.C. Section 135.01.

(Ord. 321-96; Ord. No. 2737-2018 , § 1, 10-8-2018)

                    
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