505.108 Disposition of unclaimed property. - Ohio Statutes

505.108 Disposition of unclaimed property.

Except as otherwise provided in this section and unless the property involved is required to be disposed of pursuant to another section of the Revised Code, property that is unclaimed for ninety days or more shall be sold by the chief of police or other head of the organized police department of the township, township police district, joint township police district, or office of a township constable at public auction, after notice of the sale has been provided by publication once a week for three successive weeks in a newspaper of general circulation in the county, or counties, if appropriate, in the case of a joint township police district. The proceeds of the sale shall be paid to the fiscal officer of the township and credited to the township general fund, except that, in the case of a joint township police district, the proceeds of a sale shall be paid to the fiscal officer of the most populous participating township and credited to the appropriate township general fund or funds according to agreement of the participating townships.

If authorized to do so by a resolution adopted by the board of township trustees or, in the case of a joint township police district, each participating board of township trustees, and if the property involved is not required to be disposed of pursuant to another section of the Revised Code, the head of the department, district, or office may contribute property that is unclaimed for ninety days or more to one or more public agencies, to one or more nonprofit organizations no part of the net income of which inures to the benefit of any private shareholder or individual and no substantial part of the activities of which consists of carrying on propaganda or otherwise attempting to influence legislation, or to one or more organizations satisfying section 501(c)(3) or (c)(19) of the Internal Revenue Code of 1986.

Effective Date: 09-29-1999; 12-20-2005