Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly A company or association may be organized to transact the business of life or accident or life and accident insurance on the assessment plan, for the purpose of mutual protection and relief of its members, and for the payment of stipulated sums […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Every association transacting business under sections 3919.02 to 3919.10, inclusive, of the Revised Code, shall hold and maintain, upon every contract of insurance issued on and after January 1, 1926, assets in excess of other liabilities, to provide for reserves of not […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Under any contract providing, in addition to the regular contributions, for the payment currently of additional contributions to the extent needed to pay its share of claims and expenses and to maintain the tabular reserves required by sections 3919.02 to 3919.10, inclusive, […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly The assets representing the reserves on all contracts issued on an after January 1, 1926, and on such other contracts as the association organized under section 3919.01 of the Revised Code designates upon which a reserve at least equal to the minimum […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Unless an association transacting business under sections 3919.02 to 3919.10, inclusive, of the Revised Code, provides otherwise, the actual mortality experienced on all outstanding contracts shall be determined and distributed between all such contracts in proportion to the cost of insurance on […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Every association may include in contracts issued under sections 3919.02 to 3919.10, inclusive, of the Revised Code, provisions for total and permanent disability benefits, accidental death benefits, annuities, and the payment of the benefits in installments. Separate contracts may also be issued […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly An association organized under section 3919.01 of the Revised Code may provide in its contracts for stipulated premiums, death benefits, cash surrender values, and loan values, to an amount not exceeding the reserve, or it may provide for the equivalent paid-up or […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly In addition to the annual report required by law, every association organized under section 3919.01 of the Revised Code shall report annually to the superintendent of insurance, on or before the first day of March, the valuation of outstanding contracts issued on […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly All fraternal benefit societies and associations, including those engaged in writing insurance covering a single hazard, and not operated or conducted for profit, and all associations, lodges, orders, or societies which do not issue insurance certificates, are exempt from sections 3919.02 to […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Any foreign company or association complying with sections 3919.02 to 3919.10, inclusive, of the Revised Code, may do business within this state, provided it can show a percentage of solvency of not less than one hundred five per cent, as provided in […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Associations organized under section 3919.01 of the Revised Code may provide in their bylaws that there shall be not less than five nor more than fifteen trustees, whose term of office shall be not more than three years. If the term is […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly An association organized under section 3919.01 of the Revised Code may change or amend its constitution or bylaws by the assent thereto in writing of a majority of the members, or by a majority of those members present, in person or by […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Any company or association organized under section 3919.01 of the Revised Code for the purpose of transacting the business of life or accident or life and accident insurance on the assessment plan, may, with the consent in writing of a majority of […]
Effective: January 1, 2021 Latest Legislation: House Bill 339 – 133rd General Assembly A company or association organized under section 3919.01 of the Revised Code amending its articles of incorporation and its constitution and bylaws is subject to sections 3919.11 and 3919.12 of the Revised Code as to its organization and government, and it shall […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly No company or association transacting the business of life insurance on the assessment plan, other than fraternal beneficiary associations, shall do business within this state, except those companies which, as of August 9, 1913, are authorized to do business within this state […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Each corporation, company, or association organized under any law of this state for the purpose of doing business under sections 3919.01 to 3919.15, inclusive, of the Revised Code, or for the purpose of doing such business as is contemplated by them, on […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Any corporation, company, or association which fails or refuses to file a statement or report as required by section 3919.16 of the Revised Code, or whose treasurer fails to file a bond as required by law, shall forfeit its right to do […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly No corporation, company, or association organized under section 3919.01 of the Revised Code issuing endowments, certificates, or policies, or undertaking or promising to pay to members during life any sum of money, or thing of value, or certificate, or policy guaranteeing any […]
Effective: August 8, 1991 Latest Legislation: Senate Bill 137 – 119th General Assembly Each corporation, company, or association organized under section 3919.01 of the Revised Code and each applicant for a certificate of authority under this chapter shall be subject to examination by the superintendent of insurance in accordance with section 3901.07 of the Revised […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Any corporation, company, or association organized under the laws of any other state to transact the business of life or accident or life and accident insurance on the assessment plan, as a condition precedent to transacting business in this state, shall deposit […]
