Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly The articles of incorporation of a company formed for the purpose of insurance, other than life insurance, must be forwarded to the secretary of state, who shall submit them to the attorney general for examination. If such articles are found by him […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly The persons named in the articles of incorporation of a company formed for the purpose of insurance other than life, or a majority of such persons, shall be commissioners to open books for the subscription of stock in the company, at such […]
Effective: June 18, 2002 Latest Legislation: Senate Bill 171 – 124th General Assembly Within one month after the subscription books of a stock insurance company are filled, as provided in section 3925.02 of the Revised Code, and after the articles of incorporation of a stock insurance company are filed with the secretary of state, a […]
Effective: June 18, 2002 Latest Legislation: Senate Bill 171 – 124th General Assembly When convened at the office of the company, the board of directors elected or appointed as provided in section 3925.03 or 3941.05 of the Revised Code, or a majority of the board, may appoint a secretary and other officers or agents necessary […]
Effective: September 30, 1955 Latest Legislation: Senate Bill 386 – 101st General Assembly No insurance company organized under any law of this state for the purpose provided in section 3925.01 of the Revised Code shall invest its capital, or any part thereof, otherwise than in the following securities: (A) Bonds or other interest-bearing obligations of […]
Effective: January 9, 1961 Latest Legislation: House Bill 1 – 104th General Assembly In addition to the investments provided by law, investments in any of the following securities are authorized investments for the capital and accumulations of insurance companies, both life and other than life, which are organized under the laws of this state, subject […]
Effective: January 9, 1961 Latest Legislation: House Bill 1 – 104th General Assembly Whenever a deposit of securities is required from a domestic or foreign insurance company, either life or other than life, as a condition upon which such company may transact business in this state, the following securities may be deposited for that purpose […]
Effective: September 4, 2014 Latest Legislation: Senate Bill 140 – 130th General Assembly Funds accumulated in the course of business, or surplus money above the capital stock, of any company organized under any law of this state, for the purpose provided in section 3925.01 of the Revised Code, shall only be loaned or invested in […]
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 3925.08 of the Revised Code for investments not guaranteed by the […]
Effective: January 1, 2021 Latest Legislation: House Bill 339 – 133rd General Assembly No insurance company shall own more than one fourth of the capital stock of a national bank, nor invest in or loan on the stocks and bonds, both included, of any railroad company, to an extent exceeding one fifth of its own […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly If an investment or loan is made by an insurance company in a manner not authorized by sections 3925.01 to 3925.34, inclusive, of the Revised Code, the directors who make or authorize such investment or loan shall be personally liable to the […]
Effective: September 23, 2008 Latest Legislation: House Bill 562 – 127th General Assembly With the approval of the superintendent of insurance, sections 3925.06 to 3925.09 and 3925.20 of the Revised Code shall not apply to a domestic insurance company that qualifies as a foreign country branch of a United States company that writes policies exclusively […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly When an insurance company notifies the superintendent of insurance that sections 3925.01 to 3925.03, inclusive, of the Revised Code, have been complied with, he shall make an examination of its condition, and if he finds that the capital required of the company […]
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 […]
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 […]
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.
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.
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 […]
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 […]
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 […]
