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 3925.12 | Capitalization Requirements.
Effective: August 8, 1991 Latest Legislation: Senate Bill 137 – 119th General Assembly (A)(1) Except as otherwise provided in Title XXXIX of the Revised Code, no mutual insurance company shall be incorporated under the laws of this state until the superintendent of insurance has certified to the secretary of state that a sum has been […]
Section 3925.13 | Annual Cash Premiums Collectible in Advance.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Mutual fire insurance companies organized under sections 3925.01 to 3925.34, inclusive, of the Revised Code, may thereafter charge and collect in advance upon their policies a full annual premium in cash, but such policies shall not compel subscribers, insured or assured, to […]
Section 3925.14 | Mutual Associations Excepted.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Sections 3925.12 and 3925.13 of the Revised Code are not applicable to associations which are organized as provided by law for the mutual protection of their members against loss by fire.
Section 3925.15 | Transfers of Stock.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Transfers of stock may be made on the books of an insurance company by any shareholder, or his legal representative, subject to such reasonable restrictions as the directors of such company make in its bylaws.
Section 3925.16 | Increase of Capital Stock.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly When, in the opinion of its directors, a company organized under sections 3925.01 to 3925.34, inclusive, of the Revised Code, requires an increased amount of capital, if such an increase is authorized by the holders of two thirds of the stock, said […]
Section 3925.17 | Restriction on Dividends – Liability of Directors.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly No fire insurance company organized under a law of this state shall declare or pay any dividend which impairs its capital or capital stock, nor while its capital or capital stock is impaired, nor shall any such corporation declare or pay any […]
Section 3925.18 | Scrip Dividends.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Section 3925.17 of the Revised Code does not prevent the declaration of scrip dividends by participating or mutual insurance companies, but no such dividend shall be declared to an amount in excess of profits, or be paid except from profits, after reserving […]