Effective: July 21, 2022 Latest Legislation: Senate Bill 256 – 134th General Assembly As used in this chapter: (A) “Title insurance” means insuring, guaranteeing, or indemnifying owners of real property or others interested in real property against loss or damage suffered by reason of liens or encumbrances upon, defect in, or the unmarketability of the […]
Effective: December 12, 1967 Latest Legislation: Senate Bill 224 – 107th General Assembly Chapter 3953. of the Revised Code applies to all title insurance companies, title insurance rating organizations, title insurance agents, applicants for title insurance, policyholders, and to all persons and business entities engaged in the business of title insurance.
Effective: March 26, 1971 Latest Legislation: House Bill 1 – 109th General Assembly On and after December 12, 1967, only a title insurance company as defined in division (C) of section 3953.01 of the Revised Code shall underwrite or issue a policy of title insurance. No person, firm, association, corporation, cooperative, joint-stock company, partnership, or […]
Effective: March 30, 1999 Latest Legislation: Senate Bill 83 – 122nd General Assembly A title insurance company shall be organized as a stock corporation as provided in Chapters 1701. and 3929. of the Revised Code, except as specified in this chapter. Every title insurance company that is authorized to do a title insurance business in […]
Effective: March 26, 1971 Latest Legislation: House Bill 1 – 109th General Assembly Every title insurance company incorporated or admitted in this state after December 12, 1967, shall have a minimum capital and surplus as required by section 3925.12 of the Revised Code.
Effective: August 8, 1991 Latest Legislation: Senate Bill 137 – 119th General Assembly Every title insurance company, prior to the issuance of any policy of title insurance in this state, shall deposit with the superintendent of insurance, for the security and protection of its policyholders in this state, fifty thousand dollars in bonds of the […]
Effective: March 30, 1999 Latest Legislation: Senate Bill 83 – 122nd General Assembly No policy or contract of title insurance shall be written unless it is based upon a reasonable examination of the title unless a determination of insurability of title has been made in accordance with sound underwriting practices for title insurance companies and […]
Effective: December 12, 1967 Latest Legislation: Senate Bill 224 – 107th General Assembly Every title insurance company may do the kinds of business defined in divisions (A) and (B) of section 3953.01 of the Revised Code, and may provide any other services related to the land title business.
Effective: December 12, 1967 Latest Legislation: Senate Bill 224 – 107th General Assembly A title insurance company shall not engage in the business of guaranteeing the payment of the principal or the interest of notes, bonds, or other obligations secured by mortgages upon real property. A title insurance company shall not engage in the business […]
Effective: March 26, 1971 Latest Legislation: House Bill 1 – 109th General Assembly Title insurance, except for reinsurance as provided in section 3953.13 of the Revised Code, shall be transacted, underwritten, or issued only by a company organized or admitted for issuance of no other form of insurance in this state. A title insurance company […]
Effective: June 14, 1988 Latest Legislation: House Bill 458 – 117th General Assembly (A) The unearned premium reserve of every title company shall consist of: (1) The amount of the unearned premium reserve held as of December 12, 1967, pursuant to or under permission granted by any prior statutes of this state or the voluntary […]
Effective: December 12, 1967 Latest Legislation: Senate Bill 224 – 107th General Assembly (A) Each title insurance company shall at all times establish and maintain, in addition to other reserves, a reserve: (1) Against unpaid losses; (2) Against loss expense, and shall calculate such reserves by making a careful estimate in each case of the […]
Effective: December 12, 1967 Latest Legislation: Senate Bill 224 – 107th General Assembly Any title insurance company authorized to engage in the business of title insurance in this state may cede reinsurance of all or any part of its liability under one or more of its policies or contracts or reinsurance agreements to any other […]
Effective: January 1, 2021 Latest Legislation: House Bill 339 – 133rd General Assembly (A) Except as provided in Chapter 3953. of the Revised Code the investments of a title insurance company shall be governed by sections 3925.05 to 3925.21 of the Revised Code. (B) Provided it shall at all times keep at least one hundred […]
Effective: September 4, 2014 Latest Legislation: Senate Bill 140 – 130th General Assembly (A) Except as provided in division (B) of this section, the unearned premium reserve of a title insurance company shall be invested in accordance with sections 3925.05 to 3925.08, inclusive, of the Revised Code. (B) A title insurance company may seek permission […]
Effective: December 12, 1967 Latest Legislation: Senate Bill 224 – 107th General Assembly For those title insurance companies which also have powers to do a trust business, trust funds or assets held in a fiduciary capacity shall be invested in accordance with the statutes of this state governing trust companies.
Effective: December 12, 1967 Latest Legislation: Senate Bill 224 – 107th General Assembly Any title insurance company organized under the laws of another state or foreign government shall be licensed to transact a title insurance business within this state only if such company is and remains of the same standard of solvency and complies with […]
Effective: December 12, 1967 Latest Legislation: Senate Bill 224 – 107th General Assembly No title insurance company not incorporated or organized under the laws of this state, but authorized to transact business herein, shall make, write, place, or cause to be made, written, or placed any policy or contract of insurance covering real property in […]
Effective: December 12, 1967 Latest Legislation: Senate Bill 224 – 107th General Assembly (A) A title insurance company organized and incorporated under the laws of this state may merge, be merged by, or consolidated with, one or more title insurance companies whether or not so incorporated, by complying with Chapter 1701. of the Revised Code, […]
Effective: December 12, 1967 Latest Legislation: Senate Bill 224 – 107th General Assembly (A) A title insurance company organized and incorporated under the laws of this state may issue stock in exchange for all or any part of the assets or stock of a domestic or foreign title insurance company if, in advance thereof, a […]
