reglab/housing_qa huggingface dataset:
Ohio Rev Code § 3953.30 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.30 | Notice Comparing Lender's and Owner's Title Insurance.

Effective: April 6, 2007|Latest Legislation:  House Bill 454 - 126th General Assembly|(A) As used in this section:(1) "Residential mortgage loan" means an obligation to pay a sum of money evidenced by a note and secured by a lien upon real property located within this state containing two or fewer residential units or on which two or fewer residential units are to be constructed and includes such an obligation on a residential condominium or cooperative unit.(2) "Residential mortgage lender" means any person, including, but not limited to, banks, savings and loan associations, mortgage brokers, credit unions, or savings banks, that lends money or extends or grants credit and obtains a residential mortgage to assure payment of the debt.(B) A title insurance agent issuing a lender's title insurance policy in conjunction with a residential mortgage loan made simultaneously with the purchase of all or part of the real property securing the loan, where no owner's title insurance policy has been requested, shall give written notice, on a form prescribed or approved by the superintendent of insurance, to the mortgagor at the time the commitment is prepared. The notice shall explain that a lender's title insurance policy is to be issued protecting the residential mortgage lender, and that the policy does not provide title insurance protection to the mortgagor as the owner of the property being purchased. The notice shall explain what an owner's title insurance policy insures against and what possible exposures exist for the mortgagor that could be insured against through the purchase of an owner's title insurance policy. The notice shall state that the mortgagor may obtain an owner's title insurance policy protecting the mortgagor as the owner of the property, either at a specified cost or at an approximate cost if the proposed coverages or amount of insurance is not then known. The title insurance agent shall maintain a copy of the notice, signed by the mortgagor, for at least ten years after the effective date of the lender's title insurance policy.
Ohio Rev Code § 3953.32 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.32 | Offer of Closing or Settlement Protection to Parties.

Effective: April 6, 2007|Latest Legislation:  House Bill 454 - 126th General Assembly|(A) At the time an order is placed with a title insurance company for issuance of a title insurance policy, the title insurance company or the title insurance agent shall offer closing or settlement protection to the lender, borrower, and seller of the property, and to any applicant for title insurance.(B) The closing or settlement protection offered pursuant to this section shall indemnify any lender, borrower, seller, and applicant that has requested the protection, both individually and collectively, against the loss of settlement funds resulting from any of the following acts of the title insurance company's named title insurance agent or anyone acting on the agent's behalf:(1) Theft, misappropriation, fraud, or any other failure to properly disburse settlement, closing, or escrow funds;(2) Failure to comply with any applicable written closing instructions, when agreed to by the title insurance agent.(C) The issuance of closing or settlement protection by a title insurance company pursuant to division (A) of this section is part of the business of title insurance for purposes of Chapter 3953. of the Revised Code.(D) Except as provided in division (A) of this section, a title insurance company shall not offer or issue any coverage purporting to indemnify against a person's improper acts or omissions in connection with escrow, settlement, or closing services.(E) The superintendent of insurance may adopt rules in accordance with Chapter 119. of the Revised Code as the superintendent considers necessary to carry out the purposes of this section, including, but not limited to, rules that detail the specific language that must be included in the written document offering closing or settlement protection as provided for in division (A) of this section.
Ohio Rev Code § 3953.33 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.33 | Annual Independent Review of Agency Accounts.

Effective: March 24, 2008|Latest Legislation:  House Bill 157 - 127th General Assembly|(A) Every title insurance agent or agency that handles escrow, settlement, closing, or security deposit accounts shall have an independent review made of its escrow, settlement, closing, and security deposit accounts each year on or before the thirty-first day of December for the twelve-month period ending the preceding thirty-first day of August. The title insurance agent or agency shall provide proof of the annual review to each title insurance company that it represents. The superintendent of insurance shall promulgate rules under Chapter 119. of the Revised Code setting forth the minimum threshold level at which a review is required, the standards of the review, the minimum qualifications of the independent party conducting the review, and the form of the report that is required. The superintendent may also require title insurance agents or agencies to provide a copy of their annual review reports to the superintendent. The annual review required by this division does not apply to interest on lawyer's trust accounts established and maintained by an attorney pursuant to sections 4705.09 and 4705.10 of the Revised Code. (B) Title insurance agents and agencies shall allow the superintendent and each and every title insurer that they represent reasonable access to all of their escrow, settlement, closing, and security deposit accounts and any and all supporting account information in order to ascertain the safety and security of the funds held by the title insurance agent or agency.(C) Title insurance agents and agencies shall maintain sufficient records of their affairs, including their escrow operations and escrow trust accounts, so that the superintendent may adequately ensure that the title insurance agent or agency is in compliance of this chapter. Records kept pursuant to this section shall be kept for a period of not less than ten years following the transactions to which the records relate. The superintendent may prescribe the specific records and documents to be kept.
Ohio Rev Code § 3953.331 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.331 | Joint Venture Title Insurance Companies - Annual Review.

Effective: September 30, 2021|Latest Legislation:  House Bill 110 - 134th General Assembly|(A) For a title insurance company that is a joint venture, the annual review required under section 3953.33 of the Revised Code shall assess whether or not all members of the joint venture received revenue during the year in question from the title company commensurate to their ownership interest in the title company. The superintendent of insurance shall promulgate rules under Chapter 119. of the Revised Code setting forth the standards of the review required under this section and the form in which this information is to be provided. (B) Title insurance companies that are joint ventures shall maintain sufficient records of their affairs, including their escrow operations, escrow trust accounts, and operating accounts so that the superintendent may adequately ensure that the title insurance company that is a joint venture and all members of the joint venture are in compliance with the requirements of this section. Records kept pursuant to this section shall be kept for a period of not less than ten years following the transactions to which the records relate. The superintendent may prescribe the specific records and documents to be kept. Last updated September 15, 2021 at 6:20 PM
Ohio Rev Code § 3953.35 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.35 | Prohibited Conduct Regarding Loans of Seventy-Five Thousand Dollars or Less.

Effective: January 1, 2007|Latest Legislation:  Senate Bill 185 - 126th General Assembly|(A) No title insurance agent shall do any of the following in connection with a mortgage loan of seventy-five thousand dollars or less:(1) Knowingly coerce or wrongfully instruct the consumer to enter into the loan;(2) Knowingly fail to disclose to the consumer that the consumer does not have to close on the loan;(3) Knowingly make a material misrepresentation to the consumer regarding the terms of the loan.(B) A violation of this section is deemed an unfair and deceptive act or practice in violation of section 1345.02 of the Revised Code.
Ohio Rev Code § 3953.36 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.36 | Dissolution or Termination of a Joint Venture Title Insurance Company.

Effective: September 30, 2021|Latest Legislation:  House Bill 110 - 134th General Assembly|For a title company that is a joint venture that is set to dissolve or terminate on a specified date, all members of that joint venture shall be allowed or invited to join any successor joint ventures formed upon dissolution or termination of the original joint venture. Last updated September 15, 2021 at 6:21 PM
Ohio Rev Code § 3955.02 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3955 | Property and Casualty Insurance Guaranty Association|Section 3955.02 | Citing Act.

Effective: October 26, 1989|Latest Legislation:  House Bill 105 - 118th General Assembly|Sections 3955.01 to 3955.19 of the Revised Code may be cited as the Ohio insurance guaranty association act.
Ohio Rev Code § 3955.03 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3955 | Property and Casualty Insurance Guaranty Association|Section 3955.03 | Purposes of Chapter.

Effective: June 29, 1994|Latest Legislation:  House Bill 89 - 120th General Assembly|The purposes of sections 3955.01 to 3955.19 of the Revised Code are to provide a mechanism for the payment of covered claims under certain insurance policies, avoid excessive delay in payment and reduce financial loss to claimants or policyholders because of the insolvency of an insurer, assist in the detection and prevention of insurer insolvencies, and provide an association to assess the cost of such protection among insurers.
Ohio Rev Code § 3955.04 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3955 | Property and Casualty Insurance Guaranty Association|Section 3955.04 | Liberal Construction of Chapter.

Effective: October 26, 1989|Latest Legislation:  House Bill 105 - 118th General Assembly|Sections 3955.01 to 3955.19 of the Revised Code shall be liberally construed to effect the purpose stated under section 3955.03 of the Revised Code, which shall constitute an aid and guide to interpretation.
Ohio Rev Code § 3955.06 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3955 | Property and Casualty Insurance Guaranty Association|Section 3955.06 | Ohio Insurance Guaranty Association.

Effective: May 22, 2012|Latest Legislation:  House Bill 267 - 129th General Assembly|(A) There is hereby created an unincorporated nonprofit association to be known as the Ohio insurance guaranty association. All member insurers, as defined in division (D) of section 3955.01 of the Revised Code, shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under section 3955.09 of the Revised Code and shall exercise its powers through a board of directors established under section 3955.07 of the Revised Code. (B) For purposes of administration and assessment, the association shall be divided into two accounts:(1) The automobile insurance account;(2) The account for all other insurance to which sections 3955.01 to 3955.19 of the Revised Code apply.
Ohio Rev Code § 3955.07 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3955 | Property and Casualty Insurance Guaranty Association|Section 3955.07 | Board of Directors.

Effective: May 21, 1976|Latest Legislation:  House Bill 1267 - 111th General Assembly|(A) The board of directors of the Ohio insurance guaranty association shall consist of not less than five nor more than nine persons serving terms as established in the plan of operation. The members of the board shall be selected by member insurers, subject to the approval of the superintendent. Vacancies on the board shall be filled for the remaining period of the term by the unanimous vote of the remaining directors with the approval of the superintendent of insurance. A majority of the members shall be representatives of domestic insurers.(B) In approving selections to the board, the superintendent shall consider among other things whether all member insurers are fairly represented.(C) Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors.
Ohio Rev Code § 3955.10 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3955 | Property and Casualty Insurance Guaranty Association|Section 3955.10 | Superintendent of Insurance - Powers and Duties.

Effective: June 29, 1994|Latest Legislation:  House Bill 89 - 120th General Assembly|(A) The superintendent of insurance shall:(1) Immediately furnish to the association a copy of any complaint filed by the superintendent in any court which seeks an order to rehabilitate or liquidate the company;(2) Notify the Ohio insurance guaranty association of the existence of an insolvent insurer not later than three days after he receives notice of its existence;(3) Upon request of the board of directors, provide the association with a statement of the net direct written premiums of each member insurer related to either account.(B) The superintendent may:(1) Require that the association notify any or all of the insureds of an insolvent insurer and any other interested parties of the determination of insolvency and of their rights under sections 3955.01 to 3955.19 of the Revised Code. Such notification shall be by mail at their last known address, but if sufficient information for notification by mail is not available, notice by publication in a newspaper of general circulation in an area reasonably selected to assure that interested parties will become acquainted with the facts shall be sufficient.(2) Suspend or revoke, after notice and hearing under Chapter 119. of the Revised Code, the certificate of authority to transact insurance in this state of any member insurer which fails to pay an assessment when due or to comply with the plan of operation. The superintendent, in lieu of such suspension or revocation, may levy a penalty on any member insurer which fails to pay an assessment when due. Such penalty shall not exceed five per cent of the unpaid assessment per month, except that no penalty shall be less than one hundred dollars per month.(3) Revoke the designation of any servicing facility when he finds claims are being handled unsatisfactorily.(C) Any final action or order of the superintendent under sections 3955.01 to 3955.19 of the Revised Code is subject to judicial review under Chapter 119. of the Revised Code.
Ohio Rev Code § 3955.12 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3955 | Property and Casualty Insurance Guaranty Association|Section 3955.12 | Subrogation of Association - Recovery Against Insolvent Insurers.

Effective: March 30, 2007|Latest Legislation:  Senate Bill 279 - 126th General Assembly|(A) The Ohio insurance guaranty association shall be subrogated to the rights of any person recovering under sections 3955.01 to 3955.19 of the Revised Code to the extent of the person's recovery from the association. Every insured or claimant seeking the protection of sections 3955.01 to 3955.19 of the Revised Code shall cooperate with the association to the same extent as such person would have been required to cooperate with the insolvent insurer. Except as provided in division (B) of this section, the association shall have no cause of action against the insured of the insolvent insurer for any sums the association has paid out.(B)(1) The association has the right to recover from the following insureds or persons the amount of any covered claim paid to or on behalf of those insureds or persons:(a) Any insured who is not a resident of this state at the time of the insured event, except for first-party claims for property damage to an insured's property that is permanently located in this state;(b) Any person that is an affiliate of the insolvent insurer.(2) The association has the right to recover from any insured of an insolvent insurer for any sums the association has paid out as the result of an error.(C) The receiver, liquidator, or statutory successor of an insolvent insurer shall be bound by settlements of covered claims by the association or a similar organization in another state. The court having jurisdiction shall grant such claim priority equal to that which the claimant would have been entitled in the absence of sections 3955.01 to 3955.19 of the Revised Code against the assets of the insolvent insurer. The expenses of the association or similar organization in handling claims shall be accorded the same priority as the liquidator's expenses.(D) The association periodically shall file with the receiver or liquidator of an insolvent insurer reports of the covered claims paid by the association and estimates of anticipated claims on the association, which shall preserve the right to the association against the assets of the insolvent insurer.
Ohio Rev Code § 3955.13 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3955 | Property and Casualty Insurance Guaranty Association|Section 3955.13 | Exhausting Rights Under Other Policy.

Effective: June 24, 1994|Latest Legislation:  House Bill 89 - 120th General Assembly|(A) Any person having a covered claim upon which recovery is also presently possible under an insurance policy written by another insurer shall be required first to exhaust his rights under such other policy. Any amount payable on a covered claim under sections 3955.01 to 3955.19 of the Revised Code shall be reduced by the amount of such recovery.(B) Any person having a claim which may be recovered against more than one insurance guaranty association or its equivalent shall first seek recovery from the association of the place of residence of the insured, except that a first-party claim for damage to the insured's property with a permanent location shall first be presented to the association of the state of the location of the property. Any recovery under sections 3955.01 to 3955.19 of the Revised Code shall be reduced by the amount of recovery from any other insurance guaranty association or its equivalent.
Ohio Rev Code § 3955.14 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3955 | Property and Casualty Insurance Guaranty Association|Section 3955.14 | Aiding Detection and Prevention of Insurer Insolvencies.

Effective: June 29, 1994|Latest Legislation:  House Bill 89 - 120th General Assembly|To aid in the detection and prevention of insurer insolvencies:(A) The board of directors of the Ohio insurance guaranty association, upon a majority vote, may do the following:(1) Make recommendations to the superintendent of insurance for the detection and prevention of insurer insolvencies;(2) Respond to requests by the superintendent to discuss and make recommendations regarding the status of any member insurer whose financial condition may be hazardous to policyholders or the public. These recommendations are not public records.(B) At the conclusion of any domestic insurer insolvency in which the association was obligated to pay covered claims, the board may prepare a report, based on the information available to the association, on the history and causes of the insolvency. The board shall submit to the superintendent any report prepared pursuant to this division.
Ohio Rev Code § 3955.15 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3955 | Property and Casualty Insurance Guaranty Association|Section 3955.15 | Examination and Regulation by Superintendent - Annual Financial Report.

Effective: September 4, 1970|Latest Legislation:  House Bill 1121 - 108th General Assembly|The Ohio insurance guaranty association is subject to examination and regulation by the superintendent of insurance. The association shall submit in a form approved by the superintendent, not later than the thirtieth day of March of each year, a financial report for the preceding calendar year.
Ohio Rev Code § 3955.16 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3955 | Property and Casualty Insurance Guaranty Association|Section 3955.16 | Exemption From Fees and Taxation.

Effective: September 4, 1970|Latest Legislation:  House Bill 1121 - 108th General Assembly|The Ohio insurance guaranty association is exempt from payment of all fees and taxes levied by this state or any of its subdivisions.
Ohio Rev Code § 3955.17 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3955 | Property and Casualty Insurance Guaranty Association|Section 3955.17 | Rates - Factors and Calculation.

Effective: May 21, 1976|Latest Legislation:  House Bill 1267 - 111th General Assembly|(A) A rate shall not be found excessive under section 3935.03 or 3937.02 of the Revised Code solely because it contains a factor designed to recover any amounts paid to the Ohio insurance guaranty association by a member insurer as an assessment under division (A)(3) of section 3955.08 of the Revised Code from sources other than such fund.(B) The rates subject to section 3935.03 or 3937.02 of the Revised Code may include an amount necessary to recoup assessments paid or payable to the Ohio insurance guaranty association made pursuant to division (A)(3) of section 3955.08 of the Revised Code and reasonable expenses and costs attributable to payment and recoupment of the assessment. The association may establish a plan whereby assessments or projected assessments due from member insurers may be payable periodically. Such plan may also provide for the calculation and use of rates or rating factors necessary to recoup such assessments, subject to the approval of the superintendent. Member insurers of the association implementing a change in rates pursuant to the plan shall file such changes with the superintendent, provided such changes shall not increase rates more than the amount authorized by the association and approved by the superintendent pursuant to the plan. The association may consult with member insurers or licensed rating bureaus in connection with the establishment and operation of any such plan.
Ohio Rev Code § 3955.18 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3955 | Property and Casualty Insurance Guaranty Association|Section 3955.18 | Immunity.

Effective: June 29, 1994|Latest Legislation:  House Bill 89 - 120th General Assembly|There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer, the Ohio insurance guaranty association or its agents or employees, the board of directors, or the superintendent of insurance or his representatives, including the office of the deputy liquidator and its employees, for any act or omission in the performance of their powers and duties under sections 3955.01 to 3955.19 of the Revised Code.