Ohio Security deposit law

[Jered Sturm]

I was reading an article and found this law for handling Ohio security deposits:

OH

[Mark Smith]

Hello,

Just wanted to follow-up on this, and was curious if there was a definitive answer?  It would appear that the landlord is required to pay 5% simple interest for anything over $50.

I read somewhere else that interest is paid at the prevailing rate. 

@Brandon Sturgill

From ORC:

"(A)

Any security deposit in excess of fifty dollars or one month's periodic rent, whichever is greater, shall bear interest on the excess at the rate of five per cent per annum if the tenant remains in possession of the premises for six months or more, and shall be computed and paid annually by the landlord to the tenant."

Thanks