Effective: September 6, 2012 Latest Legislation: House Bill 341 – 129th General Assembly (A) A fraternal benefit society shall provide an applicant for contractual benefits a disclosure statement at the time of sale substantially as follows: “__________ (Name of the fraternal benefit society) IS LICENSED TO DO BUSINESS IN THE STATE OF OHIO. AS A […]
Effective: January 1, 1997 Latest Legislation: House Bill 468 – 121st General Assembly (A) In the case of certificates that are delivered or issued for delivery in this state on or after January 1, 1997, but prior to January 1, 1998, the value of every paid-up nonforfeiture benefit and the amount of any cash surrender […]
Effective: September 4, 2014 Latest Legislation: Senate Bill 140 – 130th General Assembly (A) Except as provided in division (B) of this section, a fraternal benefit society shall invest its funds only in such investments as are authorized by section 3907.14 of the Revised Code for the investment of assets of life insurers and subject […]
Effective: January 1, 2013 Latest Legislation: House Bill 341 – 129th General Assembly (A) A fraternal benefit society shall hold, invest, and disburse all assets for the use and benefit of the society. No member or beneficiary shall have or acquire individual rights to the assets, or be entitled to any apportionment on the surrender […]
Effective: January 1, 1997 Latest Legislation: House Bill 468 – 121st General Assembly Except as provided in this chapter, fraternal benefit societies shall be governed by this chapter and are exempt from all other provisions of the insurance laws of this state, not only in governmental relations with the state, but for every other purpose. […]
Effective: January 1, 1997 Latest Legislation: House Bill 468 – 121st General Assembly Every fraternal benefit society organized or licensed under this chapter is hereby declared to be a charitable and benevolent institution, and all of its funds are exempt from all state, county, district, municipal, and school taxes other than franchise taxes and taxes […]
Effective: January 1, 1997 Latest Legislation: House Bill 468 – 121st General Assembly (A) The standards of valuation for certificates that are delivered or issued for delivery in this state on or after January 1, 1997, but prior to January 1, 1998, shall be those standards that would have applied under the laws in effect […]
Effective: January 1, 1997 Latest Legislation: House Bill 468 – 121st General Assembly (A) Each fraternal benefit society transacting business in this state shall annually file with the superintendent of insurance a true statement of its financial condition, transactions, and affairs for the preceding calendar year. The statement shall be filed on or before the […]
Effective: January 1, 1997 Latest Legislation: House Bill 468 – 121st General Assembly Fraternal benefit societies that are authorized to transact business in this state on December 31, 1996, may continue such business until April 1, 1997. The authority of those societies and all societies licensed on or after January 1, 1997, may be renewed […]
Effective: January 1, 2013 Latest Legislation: House Bill 341 – 129th General Assembly (A)(1) Each domestic fraternal benefit society and each applicant for a certificate of incorporation as a domestic fraternal benefit society shall be subject to examination by the superintendent of insurance in accordance with section 3901.07 of the Revised Code. Section 3901.07 of […]
Effective: January 1, 2013 Latest Legislation: House Bill 341 – 129th General Assembly No foreign or alien fraternal benefit society shall transact business in this state without a license issued by the superintendent of insurance. Any such society may be licensed to transact business in this state upon filing all of the following with the […]
Effective: January 1, 2013 Latest Legislation: House Bill 341 – 129th General Assembly If the superintendent of insurance finds, upon investigation, that a domestic fraternal benefit society has exceeded its powers, has failed to comply with any provision of this chapter, is not fulfilling its contracts in good faith, has a membership of less than […]
Effective: January 1, 2013 Latest Legislation: House Bill 341 – 129th General Assembly If the superintendent of insurance finds, upon investigation, that a foreign or alien fraternal benefit society transacting or applying to transact business in this state has exceeded its powers, has failed to comply with any provision of this chapter, is not fulfilling […]
Effective: January 1, 2013 Latest Legislation: House Bill 341 – 129th General Assembly (A) Agents of fraternal benefit societies shall be licensed in the manner provided for agents of insurance companies in Chapter 3905. of the Revised Code, and shall be required to complete continuing education as set forth in section 3905.481 of the Revised […]
Effective: March 22, 2001 Latest Legislation: Senate Bill 180 – 123rd General Assembly On receipt of a notice pursuant to section 3123.43 of the Revised Code, the superintendent of insurance shall comply with sections 3123.41 to 3123.50 of the Revised Code and any applicable rules adopted under section 3123.63 of the Revised Code with respect […]
Effective: January 1, 1997 Latest Legislation: House Bill 468 – 121st General Assembly Sections 3901.19 to 3901.26 of the Revised Code, and any other provision of Title XXXIX of the Revised Code that prohibits life or sickness and accident insurers from engaging in any unfair and deceptive act or practice in the business of insurance, […]
Effective: September 6, 2012 Latest Legislation: House Bill 341 – 129th General Assembly (A) Any fraternal benefit society authorized to transact business in this state shall have and maintain an agent upon whom may be served any process, notice, or demand required or permitted by law to be served upon a society. The agent required […]
Effective: January 1, 1997 Latest Legislation: House Bill 468 – 121st General Assembly (A) No person shall cause or permit to be made, issued, or circulated in any form any of the following: (1) Any misrepresentation or false or misleading statement concerning the terms, benefits, or advantages of any fraternal insurance contract now issued or […]
Effective: January 1, 1997 Latest Legislation: House Bill 468 – 121st General Assembly (A) Nothing in this chapter shall be construed as applying to or otherwise affecting any of the following: (1) Grand or subordinate lodges of societies, orders, or associations doing business in this state that provide benefits exclusively through local or subordinate lodges; […]
Effective: January 1, 1997 Latest Legislation: House Bill 468 – 121st General Assembly All decisions and findings of the superintendent of insurance made under the provisions of this chapter are subject to review by the proper proceedings in any court of competent jurisdiction in this state.
