reglab/housing_qa huggingface dataset:
Ohio Rev Code § 3907.02 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3907 | Domestic Legal Reserve Life Insurance Companies|Section 3907.02 | Articles of Incorporation.

Effective: June 18, 2002|Latest Legislation:  Senate Bill 171 - 124th General Assembly|The persons forming a company under section 3907.01 of the Revised Code shall file in the office of the secretary of state articles of incorporation, signed by them, setting forth their intention to form a company, which articles shall comprise a copy of the charter they propose to adopt. The charter shall set forth the name of the company, which shall not be the corporate name or title used to designate any fire, life, marine, or other insurance company existing under the laws of this state, the place where it is to be located, the kind of business to be undertaken, the manner in which its corporate powers are to be exercised, the number of directors or trustees, the manner of electing them and other officers, the time of such election, the manner of filling vacancies, the amount of capital to be employed, and such other particulars as are necessary to explain and make manifest the objects and purposes of the company, and the manner in which it is to be conducted. The number of directors or trustees shall be not less than five nor more than twenty-one. The number of directors or trustees may be fixed or changed at a meeting of the stockholders or members called for the purpose of electing directors or trustees at which a quorum is present, by affirmative vote of the holders of a majority of the shares, or a majority of the members, which are represented at the meeting and entitled to vote on the proposal. In addition to the authority of the stockholders or members to change the number of directors or trustees and the manner in which the number may be fixed or changed, the articles, code of regulations, or bylaws may authorize the directors or trustees to change the number of directors or trustees, may specify the manner in which the directors or trustees are to change the number of directors or trustees and the limitations upon the directors' or trustees' use of this authority, and may authorize the directors or trustees who are in office to fill any director's or trustee's office that is created by an increase in the number of directors or trustees. No reduction in the number of directors or trustees shall of itself have the effect of shortening the term of any incumbent director or trustee.
Ohio Rev Code § 3907.03 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3907 | Domestic Legal Reserve Life Insurance Companies|Section 3907.03 | Approval by Attorney General.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|When the articles of incorporation are filed in the office of the secretary of state under section 3907.02 of the Revised Code, and the name assumed by the company is not so nearly similar to that of any other company organized in this state as to lead to confusion or uncertainty on the part of the public, the secretary of state shall submit them to the attorney general for examination. If such articles are found by him to be in accordance with sections 3907.01 to 3907.21, inclusive, of the Revised Code, and not inconsistent with the constitution and laws of the United States and of this state, he shall certify to and deliver them to the secretary of state, who shall cause them, together with the certificate of the attorney general, to be recorded in a book kept for that purpose. Upon application of the signers of such articles of incorporation, the secretary of state shall furnish to them a certified copy of such articles and certificates.
Ohio Rev Code § 3907.04 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3907 | Domestic Legal Reserve Life Insurance Companies|Section 3907.04 | Organization of Company.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|When the signers of the articles of incorporation required by section 3907.02 of the Revised Code receive from the secretary of state a certified copy of such articles and desire to organize the company, they shall publish their intention in a paper published and having general circulation in the county in which the company is to be organized. After the publication has been made for six weeks, they may open books to receive subscriptions to the capital stock, keep them open until the required amount is subscribed, distribute the stock among the subscribers, if more than the necessary amount is subscribed, collect the capital, and complete the organization of the company.
Ohio Rev Code § 3907.06 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3907 | Domestic Legal Reserve Life Insurance Companies|Section 3907.06 | Increase of Capital Stock.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|When, in the opinion of its board of directors, a legal reserve life insurance company organized under any law of this state, requires a larger amount of capital than that fixed by its articles of incorporation, its board shall, after authorization by the holders of two thirds of the stock, file with the secretary of state a certificate setting forth the amount of the desired increase, and thereafter the company shall be entitled to have the increased amount of capital fixed by the certificate, which shall be invested as required by section 3907.05 of the Revised Code.
Ohio Rev Code § 3907.07 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3907 | Domestic Legal Reserve Life Insurance Companies|Section 3907.07 | Deposit of Securities With Superintendent of Insurance.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|Any legal reserve life insurance company organized under the laws of this state may invest its capital in the stocks, bonds, or mortgages authorized by section 3907.05 of the Revised Code, and may change and invest it or any part thereof in like manner. No company shall commence business until it has deposited with the superintendent of insurance at least one hundred thousand dollars, in such stocks, bonds, or mortgages, made or assigned to the superintendent in trust for the purposes mentioned in sections 3907.01 to 3907.21, inclusive, of the Revised Code. When a mortgage of real estate is assigned to the superintendent, the assignment shall be immediately entered in the records of the county in which the real estate is situated, and the fee for its recording shall be paid by the company.The superintendent shall hold such securities as security for policyholders in the company. As long as any company depositing such securities remains solvent, he shall permit it to collect the interest or dividends on the securities, and from time to time to withdraw them, or a part thereof, on depositing with him other securities of the kinds named in section 3907.05 of the Revised Code, and of equal value with those withdrawn.In case a company making or maintaining such deposit with the superintendent, through inadvertence or by reason of not having securities in such denominations as to make the exact sum of one hundred thousand dollars, deposits securities in excess of the requirement, such excess shall be held in trust for the company and not for the benefit of policyholders, and shall be returned to the company making the deposit on its demand.
Ohio Rev Code § 3907.08 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3907 | Domestic Legal Reserve Life Insurance Companies|Section 3907.08 | Commencement of Business.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|When a company is fully organized and has deposited the amount of securities required by section 3907.07 of the Revised Code, it shall file with the superintendent of insurance a duly certified copy of its articles of incorporation, a copy of the approval of the attorney general, and a copy of its bylaws or constitution. If the superintendent finds that the company is duly organized and that its capital stock has been subscribed, paid in, and invested as required by law, unless he finds the name assumed by the company so nearly similar to the name of another company doing business in this state as to lead to confusion or uncertainty on the part of the public, he shall furnish the company with his certificate of such deposit, and with a license reciting that the company has complied with the law and is entitled to transact the business defined in section 3911.01 of the Revised Code, which license shall be its authority to commence business and issue policies.So long as the company complies with the law, the superintendent, annually, upon its application, shall renew such license. Certified copies thereof may be used in evidence for and against the company in all actions.
Ohio Rev Code § 3907.12 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3907 | Domestic Legal Reserve Life Insurance Companies|Section 3907.12 | Reinsurance.

Effective: March 23, 2016|Latest Legislation:  Senate Bill 223 - 131st General Assembly|(A) As used in this section: (1) "Assumption reinsurance" means the transfer of an insurance contract from a domestic life insurance company to a life insurance company authorized to do business in this state. (2) "Individual risk" includes any policy, annuity, or contract issued pursuant to section 3907.15 of the Revised Code. (B) Except as provided in division (C) of this section, a domestic life insurance company shall not reinsure, by agreement or modification to an existing agreement, either of the following without the prior approval of the superintendent of insurance: (1) More than eighty per cent of an individual risk to a company authorized to transact the business of insurance in this state; (2) Any part of an individual risk to a company that is not authorized to transact the business of insurance in this state. (C) Division (B) of this section shall not apply to either of the following: (1) Reinsurance agreements or modifications thereto in which either of the following applies: (a) The reinsurance premium or the change in the domestic life insurance company's liabilities is less than five per cent of the domestic life insurance company's surplus as regards policy holders as of the thirty-first day of December next preceding. (b) The projected reinsurance premium or projected change in the domestic life insurance company's liabilities in any of the next three years is less than five per cent of the domestic life insurance company's surplus as regards policyholders as of the thirty-first day of December next preceding. (2) Reinsurance agreements, or modifications to an agreement, as the result of a facultative provision with an authorized reinsurer. (D) Any domestic life insurance company may, with the written consent of the superintendent, enter into a contract of reinsurance by which all of the domestic life insurance company's obligations or risks, or the obligations or risks of a product line or subset thereof, for in-force policies are assumed by another life insurance company with the intent of effecting a novation, commonly referred to as assumption reinsurance.
Ohio Rev Code § 3907.141 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3907 | Domestic Legal Reserve Life Insurance Companies|Section 3907.141 | Federal Limitations on Investments.

Effective: January 31, 1992|Latest Legislation:  House Bill 490 - 119th General Assembly|(A) Any securities described in section 77r-1 of the "Secondary Mortgage Market Enhancement Act of 1984," 98 Stat. 1689, 15 U.S.C.A. 77r-1, shall be subject to all limitations prescribed in section 3907.14 of the Revised Code for investments not guaranteed by the full faith and credit of the United States.(B) Notwithstanding division (A) of this section, on and after August 8, 1991, a domestic life insurance company may invest in any of the following securities, subject to any applicable limitations contained in rules adopted by the superintendent of insurance:(1) Securities offered and sold pursuant to 15 U.S.C.A. section 77d(5);(2) Mortgage related securities described in 15 U.S.C.A. section 78c(a)(41);(3) Securities issued or guaranteed by the federal home loan mortgage corporation or the federal national mortgage association.
Ohio Rev Code § 3907.17 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3907 | Domestic Legal Reserve Life Insurance Companies|Section 3907.17 | Certain Action Authorized.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|Actions may be maintained by an insurance company formed under the laws of this state, against any of its members, officers, policyholders, or stockholders, for any cause relating to its business; and actions may be prosecuted and maintained by any member, stockholder, or policyholder, or the heirs or legal representative of any of these, against the company for losses which accrue on any risk, if payment is withheld more than two months after the losses become due.
Ohio Rev Code § 3907.18 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3907 | Domestic Legal Reserve Life Insurance Companies|Section 3907.18 | Dividends.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|The directors, managers, or officers of any legal reserve life insurance company organized under the laws of this state shall not, directly or indirectly, make or pay a dividend, or pay any interest, bonus, or other allowances in lieu thereof, to its stockholders, except from surplus funds which exist after setting aside an amount equal to the reserve on all its outstanding risks and policies, calculated by the American Experience Table, with interest at four per cent annually, or calculated by any other higher standard that the company has adopted, and the unearned premium on all personal accident and sickness insurance.
Ohio Rev Code § 3907.19 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3907 | Domestic Legal Reserve Life Insurance Companies|Section 3907.19 | Annual Statements.

Effective: September 1, 2002|Latest Legislation:  Senate Bill 129 - 124th General Assembly|The president or vice-president, and the secretary or actuary, or a majority of the directors of each insurance company organized under the laws of this state, annually on the first day of January, or within sixty days thereafter, shall prepare under oath and deposit in the office of the superintendent of insurance, a statement showing the condition of the company on the thirty-first day of the December next preceding. The statement shall be submitted on the forms adopted by the superintendent pursuant to section 3901.77 of the Revised Code, and shall exhibit the following items:(A) The number of policies issued during the year;(B) The amount of insurance effected by such policies;(C) The amount of premiums received during the year;(D) The amount of interest and all other receipts, specifying the items;(E) The amount paid to policyholders of the company for losses during the year;(F) The amount of all other expenditures and disbursements of the company, specifying such items as the superintendent calls for;(G) The amount of losses unpaid;(H) The whole number of policies in force;(I) The amount insured by such policies;(J) The amount of reserve on all policies in force, calculated by the American Experience Table of Mortality, with interest at four per cent annually, or calculated by any other higher standard that the company has adopted, and the unearned premium on all personal accident and sickness insurance in force;(K) The amount of capital stock, specifying amount paid and unpaid;(L) The amount of dividends unpaid and the amount of all other liabilities;(M) A detailed statement of all the assets of the company, and the manner of their investment;(N) An exhibit of the policy obligations of the company, which shall include:(1) In the first annual statement, a schedule showing the number, date, age when insured, amount insured, term of policy, term of premium, and amount of premium, of all policies issued, schedules of all policies canceled, revived, changed, reduced, or increased and a schedule of reinsurances in other companies;(2) In every succeeding annual statement, a schedule of the items listed in division (N)(1) of this section as to all policies issued during the year, and similar schedules of policies canceled, revived, changed, reduced, or increased during the year, together with schedules of reinsurances in other companies and schedules of additions to policies, and a list of all other obligations of the company requiring valuation.An exhibit of the policy obligations of the company may be required more often than once a year.
Ohio Rev Code § 3907.20 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3907 | Domestic Legal Reserve Life Insurance Companies|Section 3907.20 | Valuation of Securities.

Effective: August 8, 1991|Latest Legislation:  Senate Bill 137 - 119th General Assembly|(A) All investments shall be valued in accordance with the valuation standards published by the national association of insurance commissioners.Securities investments for which the national association of insurance commissioners has not published valuation standards in its valuations of securities manual, or any successor publication, shall be valued as follows:(1) All obligations having a fixed term and rate shall, if not in default as to principal and interest be valued as follows:(a) If purchased at par, at the par value;(b) If purchased above or below par, on the basis of the purchase price adjusted so as to bring the value to par at maturity and so as to yield in the meantime the effective rate of interest at which the purchase was made.(2) Common, preferred, or guaranteed stocks shall be valued at their market value.(3) Any other securities investments shall be valued in accordance with the rules adopted by the superintendent of insurance under division (C) of this section.Any other investment, including real property, for which the national association of insurance commissioners has not published valuation standards shall be valued in accordance with the rules adopted by the superintendent under division (C) of this section. Such an investment shall not be valued at more than its purchase price, except that an investment that has been affected by a permanent decline in value shall be valued at not more than its market value. With respect to real property, purchase price includes capitalized permanent improvements, less depreciation spread evenly over the life of the property.(B) Any investment, including real property, that is acquired by an insurance company in satisfaction of a debt, or that is otherwise acquired by an insurance company other than by purchase, shall be valued in accordance with the standards set forth in division (A) of this section for that type of investment. For purposes of applying the valuation standards, the purchase price shall be deemed to be the market value less the estimated costs of disposal at the time the investment is acquired or, in the case of any investment acquired in satisfaction of a debt, the amount of the debt, including interest, taxes, and expenses, whichever amount is less.(C) The superintendent shall adopt rules in accordance with Chapter 119. of the Revised Code to establish standards for the determination and calculation of values, for purposes of use in statutory financial statements submitted to the department of insurance, for those investments for which the national association of insurance commissioners has not published valuation standards.
Ohio Rev Code § 3907.21 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3907 | Domestic Legal Reserve Life Insurance Companies|Section 3907.21 | Companies Previously Organized.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|All companies organized under any law of this state shall continue to be corporations for the purpose for which they were chartered, but they shall be subject to all the provisions, requirements, and penalties imposed on companies organized under sections 3907.01 to 3907.21, inclusive, of the Revised Code, and shall be entitled to all the benefits and privileges of such sections and sections 3911.01 to 3911.24, inclusive, of the Revised Code.
Ohio Rev Code § 3909.01 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3909 | Foreign Life Insurance Companies|Section 3909.01 | Certificate of Authority or License to Do Business.

Effective: September 1, 1961|Latest Legislation:  Senate Bill 96 - 104th General Assembly|No life insurance company organized by act of congress, or under the laws of any other state of the United States, shall transact any business of insurance defined in section 3911.01 of the Revised Code, on the capital stock or mutual plan, in this state, until it procures from the superintendent of insurance a certificate of authority to do so. No person, directly or indirectly, shall act as agent in this state for such a company, either in procuring applications for insurance, taking risks, or in any manner transacting the business of insurance, until such person procures from the superintendent a license to do so, in which it shall be stated by the superintendent that the company has complied with all the laws of this state applicable to it.
Ohio Rev Code § 3909.02 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3909 | Foreign Life Insurance Companies|Section 3909.02 | Capital Stock Requirement.

Effective: September 25, 1981|Latest Legislation:  House Bill 265 - 114th General Assembly|No life insurance company organized by act of congress or under the laws of another state of the United States shall take risks or transact any business of insurance in this state, unless it is possessed of the amount of paid-in capital, contributed surplus, and other surplus funds required of similar companies organized in this state under sections 3907.01 to 3907.21 of the Revised Code, or unless the entire capital stock of the company is fully paid up and invested as required by the laws of the state where it is organized. If it is a mutual company, net actual cash in the amount of not less than one million dollars of the same description, invested and deposited as required by the laws of the state where it was organized, shall be accepted in lieu of paid-in capital.This section shall not be applicable to any company licensed by the superintendent of insurance to transact the business of insurance in this state prior to January 1, 1982.