reglab/housing_qa huggingface dataset:
Ohio Rev Code § 3953.07 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.07 | Sound Underwriting Practices.

Effective: March 30, 1999|Latest Legislation:  Senate Bill 83 - 122nd General Assembly|No policy or contract of title insurance shall be written unless it is based upon a reasonable examination of the title unless a determination of insurability of title has been made in accordance with sound underwriting practices for title insurance companies and unless, on and after the effective date of this amendment, section 3953.29 of the Revised Code is complied with in connection with registered land. Evidence that a reasonable examination of a title has been made shall be preserved and retained in the files of the title insurance company or its agents for a period of not less than ten years after the policy or contract of title insurance has been issued. This section does not apply to a company assuming no primary liability in a contract of reinsurance and does not apply to a company acting as a coinsurer if one of the other coinsuring companies has complied with this section.
Ohio Rev Code § 3953.08 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.08 | Permitted Services.

Effective: December 12, 1967|Latest Legislation:  Senate Bill 224 - 107th General Assembly|Every title insurance company may do the kinds of business defined in divisions (A) and (B) of section 3953.01 of the Revised Code, and may provide any other services related to the land title business.
Ohio Rev Code § 3953.09 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.09 | Prohibited Services.

Effective: December 12, 1967|Latest Legislation:  Senate Bill 224 - 107th General Assembly|A title insurance company shall not engage in the business of guaranteeing the payment of the principal or the interest of notes, bonds, or other obligations secured by mortgages upon real property. A title insurance company shall not engage in the business of guaranteeing the completion of improvements in this state. Notwithstanding section 1735.01 of the Revised Code, a title guarantee and trust company may not guarantee the collection of interest and principal of mortgage loans.
Ohio Rev Code § 3953.10 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.10 | Title Insurance Company to Engage in Title Insurance Only.

Effective: March 26, 1971|Latest Legislation:  House Bill 1 - 109th General Assembly|Title insurance, except for reinsurance as provided in section 3953.13 of the Revised Code, shall be transacted, underwritten, or issued only by a company organized or admitted for issuance of no other form of insurance in this state. A title insurance company shall not transact any other form of insurance business in this state. No company may be organized or admitted in this state after December 12, 1967, to transact, underwrite, or issue title insurance if it engages in any form of insurance business other than title insurance.
Ohio Rev Code § 3953.12 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.12 | Other Reserves.

Effective: December 12, 1967|Latest Legislation:  Senate Bill 224 - 107th General Assembly|(A) Each title insurance company shall at all times establish and maintain, in addition to other reserves, a reserve:(1) Against unpaid losses;(2) Against loss expense, and shall calculate such reserves by making a careful estimate in each case of the loss expense likely to be incurred, by reason of every claim presented, pursuant to notice from or on behalf of the insured, of a title defect in or lien or adverse claim against the title insured, that may result in a loss or cause expense to be incurred for the proper disposition of the claim. The sums of the items so estimated shall be the total amount of the reserves against unpaid losses and loss expenses of such title insurance company.(B) The amount so estimated may be revised from time to time as circumstances warrant, but shall be redetermined at least once each year.(C) The amounts set aside in such reserves in any year shall be treated as an expense in determining the net profits for such year of any title insurance company.
Ohio Rev Code § 3953.13 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.13 | Reinsurance.

Effective: December 12, 1967|Latest Legislation:  Senate Bill 224 - 107th General Assembly|Any title insurance company authorized to engage in the business of title insurance in this state may cede reinsurance of all or any part of its liability under one or more of its policies or contracts or reinsurance agreements to any other title insurance company authorized to engage in the business of title insurance in this or any other state, or the District of Columbia which meets the financial requirements necessary to qualify to do a title insurance business in this state. It may also reinsure policies of title insurance issued by other companies on risks whether located in this state or elsewhere. Any domestic title insurance company or any foreign title insurance company authorized to transact business in this state shall pay to this state taxes required on all business taxable within this state and reinsured, as provided in this section, with any foreign company authorized to do business within this state. Issuance of contracts of reinsurance by a title insurance company not authorized to engage in the business of title insurance in this state, but authorized to engage in the business of title insurance in any of the United States, reinsuring a title insurance company authorized to engage in the business of title insurance in this state on real property located in this state, shall not of itself constitute the doing of business in this state by such reinsuring company. If any domestic title insurance company is unable to obtain reinsurance from another title insurance company, then after filing of an affidavit to that effect with the superintendent of insurance it may reinsure with any insurance company.
Ohio Rev Code § 3953.15 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.15 | Investment of Unearned Premium Reserve.

Effective: September 4, 2014|Latest Legislation:  Senate Bill 140 - 130th General Assembly|(A) Except as provided in division (B) of this section, the unearned premium reserve of a title insurance company shall be invested in accordance with sections 3925.05 to 3925.08, inclusive, of the Revised Code. (B) A title insurance company may seek permission from the superintendent of insurance to invest funds under Chapter 3906. of the Revised Code and may invest funds under that chapter if such permission is granted.
Ohio Rev Code § 3953.16 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.16 | Investment of Trust Funds or Assets Held in Fiduciary Capacity.

Effective: December 12, 1967|Latest Legislation:  Senate Bill 224 - 107th General Assembly|For those title insurance companies which also have powers to do a trust business, trust funds or assets held in a fiduciary capacity shall be invested in accordance with the statutes of this state governing trust companies.
Ohio Rev Code § 3953.17 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.17 | Foreign Title Insurance Company - License.

Effective: December 12, 1967|Latest Legislation:  Senate Bill 224 - 107th General Assembly|Any title insurance company organized under the laws of another state or foreign government shall be licensed to transact a title insurance business within this state only if such company is and remains of the same standard of solvency and complies with other requirements fixed by the laws of this state for title insurance companies organized and authorized to transact the business of title insurance pursuant to the laws of this state.
Ohio Rev Code § 3953.18 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.18 | Prohibition Against Policies Covering Real Property - Exceptions.

Effective: December 12, 1967|Latest Legislation:  Senate Bill 224 - 107th General Assembly|No title insurance company not incorporated or organized under the laws of this state, but authorized to transact business herein, shall make, write, place, or cause to be made, written, or placed any policy or contract of insurance covering real property in this state, except;(A) Through a title insurance agent as defined in Chapter 3905. of the Revised Code;(B) Through a subsidiary title insurance company;(C) Through a bona fide branch office located in this state and under the direction and control of such title insurance company, all expenses of which branch office, including compensation of all employees are paid by such title insurance company;(D) This section is not applicable to contracts of reinsurance, or to policies of excess coinsurance.
Ohio Rev Code § 3953.19 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.19 | Merger and Consolidation.

Effective: December 12, 1967|Latest Legislation:  Senate Bill 224 - 107th General Assembly|(A) A title insurance company organized and incorporated under the laws of this state may merge, be merged by, or consolidated with, one or more title insurance companies whether or not so incorporated, by complying with Chapter 1701. of the Revised Code, but subject to the following:(1) No such merger or consolidation shall be effectuated unless in advance thereof, the plan and agreement therefor have been filed with the superintendent of insurance. The superintendent shall examine the terms and conditions of such merger or consolidation, and of any exchange of shares or securities pursuant thereto, after holding a hearing at which all persons or parties to whom it is proposed to issue shares or securities in such exchange shall have the right to appear. After such hearing, the superintendent shall either approve or disapprove the fairness of such terms and conditions of exchange. The superintendent shall give such approval within a reasonable time after filing of a plan or agreement unless he finds such plan or agreement:(a) Is contrary to law;(b) Is inequitable to the stockholders of such title insurance company; or(c) Would substantially reduce the security of and services to be rendered to policyholders of the domestic title insurance company in this state or elsewhere.(2) Where such merger or consolidation involves a parent company absorbing a wholly owned subsidiary, the superintendent may, in his discretion, dispense with the holding of a hearing.(B) No director, officer, agent, or employee of any title insurance company party to such acquisition shall receive any fee, commission, compensation or other valuable consideration whatsoever for in any manner, aiding, promoting, or assisting therein except as set forth in such plan or agreement.(C) If the superintendent of insurance does not approve any such plan or agreement, he shall notify the title insurance company in writing, specifying in detail his reasons therefor.
Ohio Rev Code § 3953.20 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.20 | Prior Approval Required for Acquisition of Other Title Insurance Company.

Effective: December 12, 1967|Latest Legislation:  Senate Bill 224 - 107th General Assembly|(A) A title insurance company organized and incorporated under the laws of this state may issue stock in exchange for all or any part of the assets or stock of a domestic or foreign title insurance company if, in advance thereof, a plan or agreement of acquisition has been filed with the superintendent of insurance. The superintendent shall examine the terms and conditions of such plan or agreement of acquisition, and of any exchange of shares or securities pursuant thereto, after holding a hearing at which all persons or parties to whom it is proposed to issue shares or securities in such exchange shall have the right to appear. After such hearing, the superintendent shall either approve or disapprove the fairness of such terms and conditions of such acquisition and exchange. The superintendent shall give approval within a reasonable time after filing of a plan or agreement unless he finds such plan or agreement:(1) Is contrary to law;(2) Is inequitable to the stockholders of any title insurance company involved; or(3) Would substantially reduce the security of and services to be rendered to policyholders of the domestic title insurance company in this state or elsewhere.(B) No director, officer, agent, or employee of any title insurance company party to such acquisition shall receive any fee, commission, compensation, or other valuable consideration whatsoever for in any manner aiding, promoting, or assisting therein, except as set forth in such plan or agreement.(C) If the superintendent does not approve any such plan or agreement, he shall notify the title insurance company in writing, specifying in detail his reasons therefor.
Ohio Rev Code § 3953.21 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.21 | Certification of Title Insurance Agents.

Effective: September 1, 2002|Latest Legislation:  Senate Bill 129 - 124th General Assembly|(A) Every title insurance company authorized to transact business within this state shall certify annually to the superintendent of insurance the names of all title insurance agents representing it in this state in accordance with section 3905.20 of the Revised Code.(B) No bank, trust company, bank and trust company, or other lending institution, mortgage service, brokerage, mortgage guaranty company, escrow company, real estate company or any subsidiaries thereof or any individuals so engaged shall be permitted to act as an agent for a title insurance company.
Ohio Rev Code § 3953.22 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.22 | Licensing Title Insurance Agents.

Effective: March 26, 1971|Latest Legislation:  House Bill 1 - 109th General Assembly|(A) Title insurance agents shall be licensed in the manner provided for agents of insurance companies in Chapter 3905. of the Revised Code.(B) A title insurance agent shall not be required to take an examination for such license if application for the original issuance of his license was filed with the superintendent of insurance on or before June 12, 1968.
Ohio Rev Code § 3953.23 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.23 | Maintaining Books of Account and Record and Vouchers.

Effective: January 1, 2007|Latest Legislation:  Senate Bill 185 - 126th General Assembly|(A) Every title insurance agent shall keep books of account and record and vouchers pertaining to the business of title insurance in such manner that the title insurance company may readily ascertain from time to time whether the agent has complied with this chapter. (B) A title insurance agent may engage in the business of handling escrows of real property transactions provided that the agent shall maintain a separate record of all receipts and disbursements of escrow funds and shall not commingle any such funds with the agent's own funds or with funds held by the agent in any other capacity; and if at any time the superintendent of insurance determines that an agent has failed to comply with any of the provisions of this section, the superintendent may revoke the license of the agent pursuant to section 3905.14 of the Revised Code, subject to review as provided for in Chapter 119. of the Revised Code.(C) All title insurance agents or agencies that handle escrows in real property transactions not involving the issuance of title insurance shall have coverage that protects the parties to such transactions against theft, misappropriation, fraud, or any other failure to properly disburse settlement, closing, or escrow funds. The superintendent shall adopt rules under Chapter 119. of the Revised Code setting forth the minimum requirements for such coverage, including, but not limited to, the minimum amounts, terms, and conditions of such coverage.(D) The superintendent shall require every title insurance agent or agency and any subcontractors to maintain an errors and omissions policy, in any amount exceeding minimum limits established by the superintendent, that includes but is not limited to coverage for the agent's or agency's delegation of any agent or agency function. The superintendent shall adopt rules under Chapter 119. of the Revised Code setting forth the minimum requirements for that coverage, including but not limited to the minimum amounts, terms, and conditions of the coverage.
Ohio Rev Code § 3953.24 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.24 | Firm Name of Agent.

Effective: March 26, 1971|Latest Legislation:  House Bill 1 - 109th General Assembly|After December 12, 1967, no agent for a title insurance company shall adopt a firm name containing the words, "title insurance," "title guaranty," or "title guarantee."
Ohio Rev Code § 3953.25 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.25 | Commission Payments.

Effective: December 12, 1967|Latest Legislation:  Senate Bill 224 - 107th General Assembly|A title insurance company may pay a commission only to a title insurance agent as defined in division (H) of section 3953.01 of the Revised Code.
Ohio Rev Code § 3953.26 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.26 | Payments for Inducement of Business.

Effective: December 12, 1967|Latest Legislation:  Senate Bill 224 - 107th General Assembly|No title insurance company and no title insurance agent shall pay or give any applicant for insurance, or to any person, firm, or corporation who is acting as agent, representative, attorney, or employee of the owner, lessee, mortgagee, or of the prospective owner, lessee, or mortgagee of the real property or any interest therein, either directly or indirectly, any commission or any part of its fees or charges, or any other consideration or valuable thing, as an inducement for, or as compensation for, any title insurance business. Nothing in this section shall preclude the payment by a title insurance company of a commission to any attorney, if said attorney is also a licensed title insurance agent of such title insurance company, or the payment by such title insurance company or its agent of a fee to an attorney for services rendered in the examination of title or certification thereof.
Ohio Rev Code § 3953.27 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.27 | Division of Fees and Charges.

Effective: December 12, 1967|Latest Legislation:  Senate Bill 224 - 107th General Assembly|Nothing in this chapter prohibits the division of fees and charges between or among two or more title insurance companies or between or among one or more title insurance companies and one or more title insurance agents, between or among two or more title insurance agents, provided such division of fees and charges does not constitute an unlawful rebate or is not in payment of a forwarding fee or finder's fee.
Ohio Rev Code § 3953.28 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.28 | Prior Approval Required for Forms and Contracts.

Effective: December 12, 1967|Latest Legislation:  Senate Bill 224 - 107th General Assembly|Every title insurance company shall file with the superintendent of insurance, all forms of title policies and other contracts of title insurance before the same are issued. Any such filing may be made by a title insurance rating organization in behalf of all its members or subscribers. In no event shall any title insurance company issue any such form of policy or contract until thirty days after it has been filed with the superintendent unless it has received earlier approval by the superintendent. Unless the superintendent disapproves a form of title policy or contract of title insurance within thirty days from the date of its filing, such filing shall be deemed to have been approved. Forms of title policies and other contracts of insurance, as used in this section, shall be deemed to include binders for insurance and policies of insurance or guaranty, together with all the terms and conditions of insurance coverage or guaranty that relate to title to any interest in real property and which are offered by a title insurance company. They shall, however, specifically exclude: reinsurance contracts or agreements, all specific defects in title that may be ascertained from any examination of the risk and excepted in such binders or policies, together with any affirmative assurance of the title insurance company with respect to such defects whether given by endorsement or otherwise, and such further exceptions from coverage by reason of limitations upon the examination of the risk imposed by an applicant for insurance or through failure of an applicant for insurance to provide the data requisite to a judgment of insurability.
Ohio Rev Code § 3953.29 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3953 | Title Insurance|Section 3953.29 | Prohibiting Restrictive Covenants Constituting Unlawful Discriminatory Practice.

Effective: March 30, 1999|Latest Legislation:  Senate Bill 83 - 122nd General Assembly|On and after the effective date of this section, in connection with any transfer of registered land that occurs on or after that date in accordance with Chapters 5309. and 5310. of the Revised Code, no title insurance company shall write a policy or contract of title insurance that includes any specific reference to any restrictive covenant that appears to apply to the transferred registered land, if any inclusion of the restrictive covenant in a transfer, rental, or lease of housing accommodations, any honoring or exercising of the restrictive covenant, or any attempt to honor or exercise the restrictive covenant constitutes an unlawful discriminatory practice under division (H)(9) of section 4112.02 of the Revised Code. On and after the effective date of this section, if a policy or contract of title insurance written by a title insurance company in connection with any transfer of registered land that occurs on or after that date in accordance with Chapters 5309. and 5310. of the Revised Code includes a general or catch-all reference to easements, estates, liens, encumbrances, charges, rights, or restrictions of record, the general or catch-all reference shall be regarded by the parties to the transfer of the registered land and their successors in interest and shall be deemed for all legal purposes to refer to and incorporate by reference easements, estates, liens, encumbrances, charges, rights, and restrictions of record other than a restrictive covenant the inclusion of which in a transfer, rental, or lease of housing accommodations, the honoring or exercising of which, or the attempt to honor or exercise of which constitutes an unlawful discriminatory practice under division (H)(9) of section 4112.02 of the Revised Code.