Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Any number of persons, not less than thirteen, may associate and form a company to make insurance upon the lives of individuals, and every type of insurance appertaining thereto or connected therewith, on the mutual or stock plan, and to grant, purchase, […]
Effective: June 18, 2002 Latest Legislation: Senate Bill 171 – 124th General Assembly The persons forming a company under section 3907.01 of the Revised Code shall file in the office of the secretary of state articles of incorporation, signed by them, setting forth their intention to form a company, which articles shall comprise a copy […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly When the articles of incorporation are filed in the office of the secretary of state under section 3907.02 of the Revised Code, and the name assumed by the company is not so nearly similar to that of any other company organized in […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly When the signers of the articles of incorporation required by section 3907.02 of the Revised Code receive from the secretary of state a certified copy of such articles and desire to organize the company, they shall publish their intention in a paper […]
Effective: September 25, 1981 Latest Legislation: House Bill 265 – 114th General Assembly (A)(1) No company shall be incorporated under sections 3907.01 to 3907.21 of the Revised Code, on or after January 1, 1982, until the superintendent of insurance has certified to the secretary of state that a sum has been escrowed with a bank […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly When, in the opinion of its board of directors, a legal reserve life insurance company organized under any law of this state, requires a larger amount of capital than that fixed by its articles of incorporation, its board shall, after authorization by […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Any legal reserve life insurance company organized under the laws of this state may invest its capital in the stocks, bonds, or mortgages authorized by section 3907.05 of the Revised Code, and may change and invest it or any part thereof in […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly When a company is fully organized and has deposited the amount of securities required by section 3907.07 of the Revised Code, it shall file with the superintendent of insurance a duly certified copy of its articles of incorporation, a copy of the […]
Effective: March 23, 2016 Latest Legislation: Senate Bill 223 – 131st General Assembly (A) As used in this section: (1) “Assumption reinsurance” means the transfer of an insurance contract from a domestic life insurance company to a life insurance company authorized to do business in this state. (2) “Individual risk” includes any policy, annuity, or […]
Effective: September 4, 2014 Latest Legislation: Senate Bill 140 – 130th General Assembly The capital, surplus, and all accumulations of every domestic life insurance company shall be invested as follows: (A) A domestic company may acquire, hold, and convey real estate: (1) Which has been acquired or is acquired for its principal offices, or which […]
Effective: January 31, 1992 Latest Legislation: House Bill 490 – 119th General Assembly (A) Any securities described in section 77r-1 of the “Secondary Mortgage Market Enhancement Act of 1984,” 98 Stat. 1689, 15 U.S.C.A. 77r-1, shall be subject to all limitations prescribed in section 3907.14 of the Revised Code for investments not guaranteed by the […]
Effective: January 1, 2021 Latest Legislation: House Bill 339 – 133rd General Assembly (A) A domestic life insurance company may, subject to section 3911.011 of the Revised Code, issue policies, annuities, or other contracts, whether on an individual or group basis, providing benefits or other contractual payments payable in fixed or variable dollar amounts, or […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Actions may be maintained by an insurance company formed under the laws of this state, against any of its members, officers, policyholders, or stockholders, for any cause relating to its business; and actions may be prosecuted and maintained by any member, stockholder, […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly The directors, managers, or officers of any legal reserve life insurance company organized under the laws of this state shall not, directly or indirectly, make or pay a dividend, or pay any interest, bonus, or other allowances in lieu thereof, to its […]
Effective: September 1, 2002 Latest Legislation: Senate Bill 129 – 124th General Assembly The president or vice-president, and the secretary or actuary, or a majority of the directors of each insurance company organized under the laws of this state, annually on the first day of January, or within sixty days thereafter, shall prepare under oath […]
Effective: August 8, 1991 Latest Legislation: Senate Bill 137 – 119th General Assembly (A) All investments shall be valued in accordance with the valuation standards published by the national association of insurance commissioners. Securities investments for which the national association of insurance commissioners has not published valuation standards in its valuations of securities manual, or […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly All companies organized under any law of this state shall continue to be corporations for the purpose for which they were chartered, but they shall be subject to all the provisions, requirements, and penalties imposed on companies organized under sections 3907.01 to […]
