reglab/housing_qa huggingface dataset:
Ohio Rev Code § 3939.07 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3939 | Mutual Protective Insurance Upon Property|Section 3939.07 | Information Filed With Superintendent of Insurance.

Effective: October 12, 2006|Latest Legislation:  House Bill 442 - 126th General Assembly|Before granting insurance, an association organized under section 3939.01 of the Revised Code shall file with the superintendent of insurance a copy of its articles of incorporation, certified by the secretary of state, a copy of its constitution adopted under section 3939.06 of the Revised Code, and forms of certificates of membership or insurance. If the superintendent finds that the association was properly organized and has complied with the law, the superintendent shall issue to it a certificate reciting that compliance. The certificate shall be the authority of the association to commence business and grant insurance.
Ohio Rev Code § 3939.08 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3939 | Mutual Protective Insurance Upon Property|Section 3939.08 | Renewal of Certificate.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|Upon the filing of its annual statement by an association organized under section 3939.01 of the Revised Code, the superintendent of insurance, annually, shall issue to such association a renewal of the certificate issued under section 3939.07 of the Revised Code, if he finds that such association has complied with the law. For each such certificate and renewal every association shall pay five dollars to the superintendent for the use of the state.
Ohio Rev Code § 3939.09 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3939 | Mutual Protective Insurance Upon Property|Section 3939.09 | Annual Statement.

Effective: October 12, 2006|Latest Legislation:  House Bill 442 - 126th General Assembly|The president or vice-president and the secretary of every association organized under section 3939.01 of the Revised Code, annually on the first day of January or within sixty days after the first day of January, shall prepare under oath and deposit in the office of the superintendent of insurance a statement of the condition of the association on the thirty-first day of the preceding December, exhibiting the facts enumerated in section 3929.30 of the Revised Code and applicable to associations organized under section 3939.01 of the Revised Code, and any other information necessary to reveal the financial condition of the association that the superintendent requires. That statement shall be rendered in a printed form to be supplied by the superintendent for that purpose.Every association organized under section 3939.01 of the Revised Code that fails to make and deposit the statement described in this section, or to reply to any inquiry of the superintendent, shall be subject to a forfeiture of five hundred dollars and shall be subject to an additional forfeiture of five hundred dollars for every month that it continues to transact any business of insurance after that failure.
Ohio Rev Code § 3939.10 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3939 | Mutual Protective Insurance Upon Property|Section 3939.10 | Reorganization of Mutual Fire Insurance Associations as Companies.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|Any mutual fire insurance association organized under section 3939.01 of the Revised Code, which is doing business and which has the number of policies and amount of insurance in force, and the amount of assets required, in order to organize a mutual fire insurance company, may reorganize as a mutual fire insurance company in the following manner:(A) The board of trustees of such association shall give notice of its intention to reorganize, for a period of at least three consecutive weeks before application is made, by publication in a newspaper of general circulation which is published in the county where the association's principal office is situated.(B) The board shall make application to the superintendent of insurance respecting its desire to assume the requirements of the laws governing mutual fire insurance companies organized and doing business under the laws of this state. Such application shall set forth the amount of insurance carried, the number of policies in force, and the amount of its assets and liabilities.If by examination of the condition of such association, or otherwise, the superintendent is satisfied that it possesses the required amount of assets, and the number and amount of policies in force required to organize a mutual fire insurance company, he shall certify such fact upon a certificate of incorporation containing the requisite statements required to incorporate a mutual fire insurance company. Such certificate, properly executed, shall be delivered to the secretary of state, who shall record it and issue his certificate of incorporation as in other cases for change of name, capital, or location of an incorporated company, charging only such fees therefor as are authorized in other cases for change in capital or location of company.Thereafter the business of such fire insurance association shall be conducted as that of a mutual fire insurance company, and shall be subject to all laws governing mutual fire insurance companies. All members of such association shall be members of such reorganized company, to the time of the expiration or cancellation of their policies, and shall be entitled to all the benefits of such, precisely as if they were original members thereof, without any exchange of policies or contracts.After such change in the plan of insurance by such association and the organization of such mutual fire insurance company, policies thereafter issued shall be in the name and by the authority of the newly organized company, and the policies previously in force, and the bylaws, rules, and regulations of such association, if not in conflict with the laws governing mutual fire insurance companies, shall remain in full force until they have terminated or been lawfully changed by the company or its board of directors.
Ohio Rev Code § 3939.11 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3939 | Mutual Protective Insurance Upon Property|Section 3939.11 | Financial Capacity of Mutual Protective Association.

Effective: October 12, 2006|Latest Legislation:  House Bill 442 - 126th General Assembly|In determining the financial capacity of a mutual protective association organized under section 3939.01 of the Revised Code, the superintendent of insurance may take into consideration factors that include, but are not limited to, all of the following:(A) Any reinsurance arrangements of the association with authorized insurers in this state;(B) The amount of contracts or policies of insurance of the association that are written and in force;(C) Any other measure of financial capacity of the association that the superintendent considers appropriate.
Ohio Rev Code § 3941.01 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.01 | Operation of Mutual Insurance Company Definitions.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|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.
Ohio Rev Code § 3941.03 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.03 | Amendment of Articles.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|The articles of incorporation of a domestic mutual company may be amended at any meeting of members, thirty days' notice of which, and of the business to come before it, has been given by a majority of the directors in a newspaper published and of general circulation in the county where the company's principal place of business is located. Such amendment, if adopted by at least three-fifths vote of the members present and voting at the meeting so called if not inconsistent with the constitution and laws of this state, and of the United States, shall be approved by the attorney general and secretary of state. Such amendment and the certificate of approval by the attorney general shall be filed in the office of the secretary of state, and shall thereupon be in effect. After recording such amendment the secretary of state shall deposit a copy thereof with the superintendent of insurance.
Ohio Rev Code § 3941.04 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.04 | Bond Prerequisite to Solicitation for Insurance or Acceptance of Premiums.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|No domestic mutual company shall solicit applications for insurance, or accept premiums, until it has filed with the superintendent of insurance its bond, with sureties, in the sum of ten thousand dollars, conditioned upon the faithful accounting for all funds and property which it may receive or possess, or until it has procured the certificate of the superintendent approving such bond and the sureties thereon. The premiums received on subscriptions for insurance shall be held by the company in trust for the respective subscribers until policies of insurance are issued to them.
Ohio Rev Code § 3941.05 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.05 | Legal Existence of Company - Power of Original Incorporators - Directors.

Effective: June 18, 2002|Latest Legislation:  Senate Bill 171 - 124th General Assembly|A domestic mutual company has legal existence, subject to the limitations prescribed in sections 3941.01 to 3941.34 of the Revised Code, from the filing of its articles of incorporation with the secretary of state. The original incorporators may fix and call the first meeting and adopt bylaws which thereupon shall be filed with the superintendent of insurance, and may elect the first officers and directors who shall continue in office until the first annual meeting of the members. The number of directors shall not be less than five nor more than twenty-one. The number of directors may be increased or diminished between the same limits by amendment of the code of regulations or bylaws pursuant to section 3941.09 of the Revised Code, if the number of directors is included in the code of regulations or bylaws of the mutual company, or pursuant to a vote of the majority of the members voting, in person or by proxy, at a meeting, if the number of directors is included in the articles of incorporation of the mutual company. No reduction in the number of directors shall of itself have the effect of shortening the term of any incumbent director.If a mutual company's code of regulations or bylaws so provide, a mutual company may elect directors for a term of three years, the term of office of one third of the number elected to expire each year, and those who receive the highest number of votes at the first election to serve the longest term. The directors of a mutual company may choose, by ballot, a president of the company and also fill vacancies that arise in the board, or in the presidency of the company.
Ohio Rev Code § 3941.06 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.06 | Conditions for Issuance or Renewal of License.

Effective: August 8, 1991|Latest Legislation:  Senate Bill 137 - 119th General Assembly|No domestic mutual company shall issue policies or effect insurance until the superintendent of insurance has licensed it to do so; nor shall the license be issued or renewed unless the company complies, as to each kind of insurance that it effects, with the following conditions:(A) It shall hold bona fide applications for insurance upon which it shall issue simultaneously, or it shall have in force, at least twenty policies to at least twenty members for the same kind of insurance upon not less than one hundred separate risks, each within the maximum single risk described in division (B) of this section.(B) "The maximum single risk" shall not exceed twenty per cent of the admitted assets or three times the average risk or one per cent of the insurance in force, whichever is greater, any reinsurance taking effect simultaneously with the policy being deducted in determining the maximum single risk.(C) It shall have collected a premium upon each application, which premium shall be held in cash or securities in which insurance companies are authorized to invest and shall be equal, in case of fire insurance to not less than twice the maximum single risk assumed subject to one fire, and in any other kind of insurance to not less than five times the maximum single risk assumed, nor shall the admitted assets in any case be less than two hundred thousand dollars. The requirement of admitted assets of not less than two hundred thousand dollars does not apply to any mutual fire insurance association organized under section 3939.01 of the Revised Code or to the renewal of licenses of any companies organized prior to September 1, 1961, under section 3941.02 of the Revised Code and licensed by the superintendent. Any mutual fire insurance association organized under section 3939.01 of the Revised Code, in order to reorganize as a mutual fire insurance company in accordance with section 3939.10 of the Revised Code, shall have assets as follows:(1) Not less than fifty thousand dollars if authorized to transact the kind of insurance described in division (A)(1), (2), or (7) of section 3929.01 of the Revised Code;(2) Not less than fifty thousand dollars if authorized to transact the kind of insurance described in division (A)(3), (4), (5), (6), (8), (9), (10), (11), (12), (13), (14), (15), (16), (17), (18), (21), (22), (23), (24), (25), or (26), of section 3929.01 of the Revised Code;(3) Not less than one hundred thousand dollars if authorized to transact the kind of insurance described in division (A)(19) or (20) of section 3929.01 of the Revised Code.
Ohio Rev Code § 3941.07 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.07 | Every Policyholder a Member.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|Every policyholder of a domestic mutual company is a member while his policy is in force, and is entitled to one vote, and no more.
Ohio Rev Code § 3941.08 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.08 | Advance Cash Premiums.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|A domestic mutual company may, in its articles of incorporation, or in its bylaws, provide for a cash premium payable in advance and a contingent liability of the policyholder of not less than one, nor more than ten times the cash premium in each policy, and may further provide for policies not exceeding on any one risk five per cent of the company's assets, to be issued for cash premiums payable in advance without contingent liability of the policyholder.
Ohio Rev Code § 3941.09 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.09 | Amendment of Bylaws.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|The bylaws of a domestic mutual company may be amended at any meeting of the board of directors. Such amendment does not become effective unless it is approved by the superintendent of insurance.
Ohio Rev Code § 3941.10 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.10 | Maximum Premium - Cash Premium.

Effective: October 1, 1953|Latest Legislation:  House Bill 100 - 100th General Assembly|The maximum premium payable by any member of a domestic mutual company may be a cash premium and an additional contingent premium not less than the cash premium, or may be solely a cash premium. No policy shall be issued for a cash premium without an additional contingent premium unless the company has a surplus which is not less in amount than the capital stock required of domestic stock insurance companies transacting the same kind of insurance.
Ohio Rev Code § 3941.11 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.11 | Stipulation or Provision as to Contingent Liability.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|Every domestic mutual company shall set forth in every insurance policy it issues upon a cash premium and contingent liability, either a stipulation of the contingent liability of the policyholder or the provision in the articles of incorporation or bylaws fixing the contingent liability. Such contingent liability shall cease with the expiration of the time for which a cash premium has been paid in advance, except for liability incurred during said time.
Ohio Rev Code § 3941.12 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.12 | Investment of Assets.

Effective: September 30, 1955|Latest Legislation:  Senate Bill 386 - 101st General Assembly|No domestic mutual company shall invest any of its assets otherwise than as provided for the investment of assets of domestic insurance companies other than life. In computing the assets, liabilities, and surplus of such company, no contingent liability or unauthorized investments shall be considered.
Ohio Rev Code § 3941.14 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.14 | Expense Shall Not Exceed Forty per Cent of Premium Income.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|Subsequent to the first calendar year after organization, the expense of management of any domestic mutual company shall not exceed in any one calendar year forty per cent of its premium income in such year; provided that the income on policies issued on the premium note or assessment plan shall be computed according to the annual basic premium.
Ohio Rev Code § 3941.15 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.15 | Assessment by Impaired Company.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|Any domestic mutual company having a contingent liability which is not possessed of assets above its unearned premium sufficient for the payment of incurred losses and expenses is deemed to be impaired and shall make an assessment for the amount needed to pay such losses and expenses upon its members liable to assessment, in proportion to and within the limits of their several liabilities.
Ohio Rev Code § 3941.16 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.16 | Issuance of Policies by Impaired Company.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|If the impairment of a domestic mutual company is not more than twenty-five per cent of such company's reinsurance reserve fund, computed according to law, the superintendent of insurance may permit it to continue to issue policies for such period, not exceeding ninety days, as he designates.If such impairment is not restored within the period designated, or exceeds twenty-five percent of such reinsurance reserve, no such company shall issue new policies until such impairment is restored and until authorized to do so by the superintendent or by a court in a proper proceeding.
Ohio Rev Code § 3941.17 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.17 | Record of the Order of Assessment.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|Every domestic mutual company shall record in a book kept for that purpose the order for an assessment required by section 3941.15 of the Revised Code, with a statement which sets forth the condition of the company at the date of the order, the amount of its assets and of its deposit notes or other contingent funds liable to the assessment, the amount which the assessment calls for, and the particular losses or other liabilities which it is to provide for. The record shall be made and signed by the directors who voted for the order before any part of the assessment is collected, and any person liable to the assessment may inspect and take a copy of the same.Each policyholder is liable to pay his proportional part of any assessments which may be laid by the company in accordance with law and his contract, on account of losses and expenses incurred while he was a member, if he is notified of such assessment within one year after the expiration or cancellation of his policy. When an assessment is ordered, the directors shall forthwith cause written notice and demand for payment to be made upon each person subject thereto, by mail or personal service.
Ohio Rev Code § 3941.19 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.19 | Personal Liability of Trustees or Directors.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|The trustees or directors of any domestic mutual company are personally liable for any loss upon risks taken after the superintendent of insurance has issued his requisition to restore any deficiency in the assets and before such deficiency is restored. This section does not require any mutual fire insurance company, doing business on the premium note plan, to keep on hand any cash reinsurance reserve or funds invested in securities, other than their premium notes, when the premium notes amount in gross to three per cent of the amount at risk by the company.
Ohio Rev Code § 3941.20 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3941 | Operation of Mutual Insurance Companies|Section 3941.20 | Admission of a Foreign Company.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|A foreign mutual company shall be admitted to transact the kinds of insurance authorized by its charter or articles of incorporation to the extent and with the privileges and powers permitted by law to domestic mutual companies when such company is solvent and shall transact its business according to the requirements of law applicable to like domestic mutual insurance companies.