Ohio § 507.03
Full text of Ohio Ohio Revised Code § 507.03, with citation guidance and answers to common questions.
§ 507.03.
Except as otherwise provided in section 3.061 of the Revised Code , the township fiscal officer, before entering upon the discharge of official duties,
shall give a bond, payable to the board of township trustees, with sureties approved
by the board, in the sum determined by the board but not less than the sum provided
in this section, and conditioned for the faithful performance of the duties of the
office of township fiscal officer. This bond shall be recorded by the township fiscal officer, filed with the county
treasurer, and carefully preserved. The minimum sum of the township fiscal officer's bond shall be as follows: (A) In a township with a budget of fifty thousand dollars or less, ten thousand dollars; (B) In a township with a budget of more than fifty thousand dollars but not more than
one hundred thousand dollars, thirty-five thousand dollars; (C) In a township with a budget of more than one hundred thousand dollars but not more
than two hundred fifty thousand dollars, sixty thousand dollars; (D) In a township with a budget of more than two hundred fifty thousand dollars but not
more than five hundred thousand dollars, eighty-five thousand dollars; (E) In a township with a budget of more than five hundred thousand dollars but not more
than seven hundred fifty thousand dollars, one hundred ten thousand dollars; (F) In a township with a budget of more than seven hundred fifty thousand dollars but
not more than one million five hundred thousand dollars, one hundred thirty-five thousand
dollars; (G) In a township with a budget of more than one million five hundred thousand dollars
but not more than three million five hundred thousand dollars, one hundred sixty thousand
dollars; (H) In a township with a budget of more than three million five hundred thousand dollars
but not more than six million dollars, one hundred ninety-five thousand dollars; (I) In a township with a budget of more than six million dollars but not more than ten
million dollars, two hundred twenty thousand dollars; (J) In a township with a budget of more than ten million dollars, two hundred fifty thousand
dollars.
Frequently Asked Questions About Ohio § 507.03
What does Ohio Revised Code § 507.03 cover?
Section 507.03 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 507.03?
A common citation format is "Ohio Revised Code § 507.03" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 507.03 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.