Section 3915.03 | Unauthorized Policies Not to Be Issued.
Effective: October 23, 1991 Latest Legislation: House Bill 16 – 119th General Assembly No policy of life insurance shall be issued or delivered in this state, and no policy of life insurance of a life insurance company organized under the laws of this state shall be issued, unless it meets the requirements of this chapter.
Section 3915.04 | Preliminary Term Insurance.
Effective: September 4, 2014 Latest Legislation: Senate Bill 140 – 130th General Assembly Life insurance policies may provide for not more than one year preliminary term insurance by incorporation therein of the following clause immediately preceding the “change of beneficiary” clause: “The first year’s insurance under this policy is term insurance.” If the premium charged […]
Section 3915.05 | Policy Provisions to Be Included.
Effective: January 1, 2021 Latest Legislation: House Bill 339 – 133rd General Assembly No policy of life insurance shall be issued or delivered in this state or be issued by a life insurance company organized under the laws of this state unless such policy contains: (A) A provision that all premiums shall be payable in […]
Section 3915.051 | Policy Loan Interest Rates.
Effective: June 22, 1984 Latest Legislation: House Bill 37 – 115th General Assembly (A) As used in this section: (1) “Published monthly average” means: (a) “Moody’s corporate bond yield average — monthly average corporates” as published by Moody’s investors service, inc., or any successor thereto; or (b) In the event that “Moody’s corporate bond yield […]
Section 3915.052 | Interest Payable on Policy Proceeds.
Effective: October 8, 1992 Latest Legislation: House Bill 427 – 119th General Assembly (A) On and after January 1, 1993, any life insurance company authorized to do business in this state shall pay interest, in accordance with division (B) of this section and subject to division (C) of this section, on any proceeds that become […]
Section 3915.01 | Company Defined.
Effective: October 23, 1991 Latest Legislation: House Bill 16 – 119th General Assembly As used in this chapter, “company” includes corporations and associations.
Section 3915.02 | Application of Law.
Effective: September 13, 2004 Latest Legislation: Senate Bill 187 – 125th General Assembly This chapter does not apply to annuities except as provided in sections 3915.051, 3915.073, 3915.14, and 3915.21 to 3915.24 of the Revised Code, industrial policies except as provided in sections 3915.07 and 3915.071 of the Revised Code, fraternal benefit societies, corporations or […]