Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly In its bylaws any insurance company organized under sections 3925.01 to 3925.34, inclusive, of the Revised Code, may provide for the accumulation of a permanent fund, by reserving a portion of its net profits, to be invested and be a reserve for […]
Effective: May 13, 1980 Latest Legislation: House Bill 729 – 113th General Assembly No insurance company organized under Chapter 3925. of the Revised Code, shall purchase, hold, or convey real estate, except for the folowing purposes and in the following manner: (A) Real estate requisite for its convenient accommodation in the transaction of its business; […]
Effective: May 13, 1980 Latest Legislation: House Bill 729 – 113th General Assembly Real estate acquired under division (B), (C), or (D) of section 3925.20 of the Revised Code shall be disposed of within two years after title to the real estate is acquired, unless the company determines to hold the real estate as an […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly No mutual insurance company shall borrow money or create a debt, except for necessary office buildings, which is to continue beyond the period when an assessment may be collected and applied to the payment thereof, and no member of such a company […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly If a member of a mutual insurance company neglects for thirty days after the publication of notice by the directors, and after demand for payment, to pay the sum assessed upon him as his proportion of any loss, the directors may sue […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly In actions for the recovery of assessments levied by the directors of a mutual fire insurance company, or for money due on the liability of the members of such a company, the official statement of its president or secretary, under seal and […]
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 […]
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 […]
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 […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Upon filing with the superintendent of insurance a certificate of the consolidation authorized by section 3925.27 of the Revised Code, the companies thenceforth shall be consolidated under the corporate organization or articles of association and the corporate name chosen. All franchises, rights, […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Upon a consolidation of insurance companies authorized by section 3925.27 of the Revised Code, the true value of each outstanding share of the capital stock of each of the consolidating companies shall be ascertained by their respective directors through a suitable valuation […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Immediately upon the consolidation of insurance companies authorized by section 3925.27 of the Revised Code, the directors of the consolidating companies shall elect from their members the directors for the consolidated company, who shall serve until their successors are elected and qualified.
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Within thirty days after any consolidation of insurance companies authorized by section 3925.27 of the Revised Code, a certificate shall be filed in the office of the secretary of state, setting forth the fact of such consolidation and the name and organization […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly An insurance company which, by its charter, is required to have its official bonds approved by a judge of the court of common pleas may at its option have such bonds approved by the probate judge of the county in which the […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly A fire, marine, fidelity, accident, plate-glass, boiler, or other insurance company organized or existing under the laws of this state, with the approval of the superintendent of insurance, may reinsure all risks undertaken by it in any company authorized to transact a […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly All companies, organized or admitted to do business for the purpose of insuring against loss or damage by fire, may insure against any of the following: (A) Loss or damage by water caused by the breakage or leakage of sprinklers, pumps, tanks, […]
