LegalFix
Sign In

Section 3941.01 - Operation of mutual insurance company definitions.

Ohio Rev Code § 3941.01 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

As used in sections 3941.01 to 3941.34, inclusive, of the Revised Code:

(A) "Company" includes corporations and associations.

(B) "Domestic" designates companies organized under the laws of this state.

(C) "Foreign" designates companies organized under the laws of another state or territory.

(D) "Alien" designates companies organized under the laws of any country other than the United States, or some state, province, or territory of such country.

(E) "Surplus" or "net assets" means the funds and assets, invested as required or permitted by the laws of the state, territory, or district where the company is organized, in excess of all liabilities including unearned premium reserve, but excluding from such assets all contingent liabilities of policyholders or members.

Effective Date: 10-01-1953 .

No previous sections
Next Section
Section 3941.02 - Organization of domestic mutual company - kinds of insurance transacted - licensing of agent.