Section 3925.32 | Approval of Official Bonds.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly An insurance company which, by its charter, is required to have its official bonds approved by a judge of the court of common pleas may at its option have such bonds approved by the probate judge of the county in which the […]
Section 3925.33 | Reinsurance of Risks.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly A fire, marine, fidelity, accident, plate-glass, boiler, or other insurance company organized or existing under the laws of this state, with the approval of the superintendent of insurance, may reinsure all risks undertaken by it in any company authorized to transact a […]
Section 3925.34 | Authorized Fields of Insurance for Fire Insurance Companies.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly All companies, organized or admitted to do business for the purpose of insuring against loss or damage by fire, may insure against any of the following: (A) Loss or damage by water caused by the breakage or leakage of sprinklers, pumps, tanks, […]
Section 3925.22 | Restriction Against Debts.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly No mutual insurance company shall borrow money or create a debt, except for necessary office buildings, which is to continue beyond the period when an assessment may be collected and applied to the payment thereof, and no member of such a company […]
Section 3925.23 | Enforcement of Assessments.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly If a member of a mutual insurance company neglects for thirty days after the publication of notice by the directors, and after demand for payment, to pay the sum assessed upon him as his proportion of any loss, the directors may sue […]
Section 3925.24 | Proof of Assessments and Notice.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly In actions for the recovery of assessments levied by the directors of a mutual fire insurance company, or for money due on the liability of the members of such a company, the official statement of its president or secretary, under seal and […]
Section 3925.25 | Accident Companies Authorized.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Companies may be organized for any of the following special purposes: (A) Insuring persons against accidental personal injury or loss of life while they are traveling by railroad, steamboat, or other mode of conveyance; (B) Making every insurance connected with accidental loss […]
Section 3925.26 | Deposit by Accident Companies.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly When a company organized under section 3925.25 of the Revised Code desires to do business in another state, by the laws of which, to qualify it therefor, it must make a deposit of securities assigned in trust for the benefit of its […]
Section 3925.27 | Consolidation.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly When a joint stock fire and marine insurance company determines by a vote of the holders of two thirds of its stock to consolidate and make joint stock with another like company, engaged in or incorporated for like business, and each agrees […]
Section 3925.28 | Rights and Duties of Consolidated Companies.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Upon filing with the superintendent of insurance a certificate of the consolidation authorized by section 3925.27 of the Revised Code, the companies thenceforth shall be consolidated under the corporate organization or articles of association and the corporate name chosen. All franchises, rights, […]