State Treasury Depository Bond Form
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1
2Bond Number: ___________
STATE OF OHIO DEPOSITORY BOND
Ohio Revised Code (“ORC”) § 135.18
___________________________________________________, with its principal office at,
_____________________________________________ as Principal (hereinafter “Principal”)
and _______________________________________________________________________, a
corporation
organized
and
existing
under
the
laws
of
the
State
of
___________________________ and duly authorized to transact business within the State of
Ohio, as Surety (hereinafter “Surety”) are held and firmly bound unto State Treasurer of Ohio,
th
30 East Broad Street, 9
Floor, Columbus, OH 43215-3461, ATTN: DIRECTOR OF
TRUST as Obligee (hereinafter “Obligee”) in the penal sum of the full amount of deposits in all
accounts in the name of Obligee held by Principal; Surety’s obligation, however, is in no event to
exceed the penal sum of ___________________________ dollars ($_____________________),
unless increased under Condition 2 below, for the payment of which, well and truly to be made,
we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and
severally.
WHEREAS, in accordance with the provisions of the Ohio Revised Code Chapter 135, Principal
has accepted a deposit(s) of public moneys from Obligee.
NOW, THEREFORE, the condition of this obligation is such that Principal shall pay over
directly on order or warrant of Obligee or other lawful authority, the public funds so deposited
with Principal; subject to the terms and conditions of the aforesaid account(s); then this
obligation shall be null and void, otherwise to remain in full force and effect, subject, however,
to the following conditions:
1.
The term of this bond begins on the _______________________________and ends, as to
all liability on the part of Surety, thirty (30) days following receipt of written notice of
cancellation by any party.
2.
In the event of the failure of Principal to satisfy the conditions stated above, this shall
constitute default by Principal under the terms of this bond. Obligee shall give Surety
written notice of Principal’s default within ten (10) days thereafter sent by Registered
Mail to Surety at its office located:
______________________________________________________________________
Within ninety (90) days of said default Obligee shall send a verified statement of the
facts, showing such default and the date thereof, delivered by registered mail to Surety at
the above address.
Within five (5) business days, upon Surety’s verification, of receipt of such verified
statement of the facts, Surety will pay the amount of Principal’s obligation to the Obligee,
by Registered Mail to the address noted above. Surety’s verification and check issuance
period shall not exceed thirty (30) days.
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