Ohio Revised Code Chapter 3941 - Operation Of Mutual Insurance Companies

• Section 3941.01 - Operation Of Mutual Insurance Company Definitions.
  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...
• Section 3941.02 - Organization Of Domestic Mutual Company - Kinds Of Insurance Transacted - Licensing Of Agent.
  (A) A domestic mutual company may be organized by not less than twenty persons, to carry on the business of mutual insurance and to...
• Section 3941.03 - Amendment Of Articles.
  The articles of incorporation of a domestic mutual company may be amended at any meeting of members, thirty days' notice of which, and of...
• Section 3941.04 - Bond Prerequisite To Solicitation For Insurance Or Acceptance Of Premiums.
  No domestic mutual company shall solicit applications for insurance, or accept premiums, until it has filed with the superintendent of insurance its bonds, with...
• Section 3941.05 - Legal Existence Of Company - Power Of Original Incorporators - Directors.
  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...
• Section 3941.06 - Conditions For Issuance Or Renewal Of License.
  No domestic mutual company shall issue policies or effect insurance until the superintendent of insurance has licensed it to do so; nor shall the...
• Section 3941.07 - Every Policyholder A Member.
  Every policyholder of a domestic mutual company is a member while his policy is in force, and is entitled to one vote, and no...
• Section 3941.08 - Advance Cash Premiums.
  A domestic mutual company may, in its articles of incorporation, or in its bylaws, provide for a cash premium payable in advance and a...
• Section 3941.09 - Amendment Of Bylaws.
  The bylaws of a domestic mutual company may be amended at any meeting of the board of directors. Such amendment does not become effective...
• Section 3941.10 - Maximum Premium - Cash Premium.
  The maximum premium payable by any member of a domestic mutual company may be a cash premium and an additional contingent premium not less...
• Section 3941.11 - Stipulation Or Provision As To Contingent Liability.
  Every domestic mutual company shall set forth in every insurance policy it issues upon a cash premium and contingent liability, either a stipulation of...
• Section 3941.12 - Investment Of Assets.
  No domestic mutual company shall invest any of its assets otherwise than as provided for the investment of assets of domestic insurance companies other...
• Section 3941.13 - Amended And Renumbered Rc 3901.72.
  Effective Date: 03-03-1996
• Section 3941.14 - Expense Shall Not Exceed Forty Per Cent Of Premium Income.
  Subsequent to the first calendar year after organization, the expense of management of any domestic mutual company shall not exceed in any one calendar...
• Section 3941.15 - Assessment By Impaired Company.
  Any domestic mutual company having a contingent liability which is not possessed of assets above its unearned premium sufficient for the payment of incurred...
• Section 3941.16 - Issuance Of Policies By Impaired Company.
  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...
• Section 3941.17 - Record Of The Order Of Assessment.
  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...
• Section 3941.18 - Petition To Have Court Examine Assessment.
  If the directors by authority of statute make an assessment or call on the members for money, or vote that there exists a necessity...
• Section 3941.19 - Personal Liability Of Trustees Or Directors.
  The trustees or directors of any domestic mutual company are personally liable for any loss upon risks taken after the superintendent of insurance has...
• Section 3941.20 - Admission Of A Foreign Company.
  A foreign mutual company shall be admitted to transact the kinds of insurance authorized by its charter or articles of incorporation to the extent...
• Section 3941.21 - Alien Mutual Company Admitted To Do Business.
  An alien mutual company, transacting the business of insurance authorized in sections 3941.01 to 3941.34, inclusive, of the Revised Code, on the mutual plan,...
• Section 3941.22 - Revocation Of License Of Foreign Or Alien Company.
  Whenever the superintendent of insurance finds that any foreign or alien mutual company doing business in this state does not have the qualifications required...
• Section 3941.23 - Every Domestic, Foreign, Or Alien Company Shall Contain The Word Mutual.
  The name of every domestic, foreign, and alien mutual company shall contain the word "mutual." This section does not apply to any company licensed...
• Section 3941.24 - Company Having Name Similar To That Of Another Not Permitted.
  No domestic, foreign, or alien mutual company may transact business in this state if its name is so similar to any name already in...
• Section 3941.25 - Retaliatory Law Shall Not Apply.
  No retaliatory law of this state, relating to insurance companies, shall apply to any mutual company organized under the laws of any state which...
• Section 3941.26 - Application Of Other Laws.
  The laws of this state governing corporations and the laws relating to insurance, to the extent they are applicable to any mutual companies and...
• Section 3941.27 - Companies And Associations Not Affected.
  Sections 3941.01 to 3941.29 of the Revised Code do not affect any company doing business within this state on the premium note plan or...
• Section 3941.28 - Companies Deemed To Be Organized Under Laws Of This State.
  Every mutual fire insurance company created by or organized under a general or special law of this state, and doing business in this state...
• Section 3941.29 - Refusal To Make Report Forfeits Charter.
  Any mutual company which neglects to make and forward to the superintendent of insurance an annual report of its affairs, as required by law,...
• Section 3941.30 - Deposit Of Securities To Transact Business Outside State.
  A domestic mutual fire insurance company, for the protection of all its policies, may deposit with the superintendent of insurance, securities of the kind...
• Section 3941.31 - Collection And Deposit Of Principal And Interest.
  The superintendent of insurance shall collect and pay over to the depositing company the principal and interest on securities deposited in compliance with section...
• Section 3941.32 - Certification Of Deposits.
  Upon request of the depositing domestic mutual fire insurance company, the superintendent of insurance shall certify under the seal of his office to the...
• Section 3941.33 - Annual Examination Of Securities.
  Every domestic mutual fire insurance company having securities deposited in the office of the superintendent of insurance, may, once during each calendar year, at...
• Section 3941.34 - Surrender Of Securities Upon Termination Of Liability - Examination Of Records.
  No part of the securities deposited in compliance with section 3941.30 of the Revised Code shall be surrendered by the superintendent of insurance to...
• Section 3941.35 - Merger Or Consolidation Of Companies.
  Any mutual insurance company organized under Chapter 3941. of the Revised Code may merge or consolidate with any other mutual insurance company or companies,...
• Section 3941.36 - Written Agreement - Name.
  The companies merging or consolidating shall enter into a written agreement prescribing the terms and conditions thereof, including the name of the surviving or...
• Section 3941.37 - Approval Of Agreement By Directors And Members.
  (A) Domestic mutual companies shall approve the agreement by a vote of a majority of the directors, and by the votes of at least...
• Section 3941.38 - Agreement And Petition For Approval - Disapproval Of Petition.
  (A) The agreement shall be filed in duplicate with the superintendent with a petition for approval thereof, which petition shall contain the plan of...
• Section 3941.39 - Transfer Of License To Surviving Or Resulting Company.
  Licenses to do business as an insurer in this state held by any of the constituent companies of a merger or consolidation consummated pursuant...
• Section 3941.40 - Hearing - Notice - Judicial Review.
  Any hearing for the purposes of section 3941.38 of the Revised Code shall be held within ninety days after filing of the petition for...
• Section 3941.41 - Company To Designate Effective Date.
  The company shall designate the date and hour the merger or consolidation is to become effective, not more than one year from the date...
• Section 3941.42 - Proceedings Upon Merger Or Consolidation.
  Upon merger or consolidation: (A) The separate existence of the constituent companies shall cease and they shall thereafter be a single company in accordance...
• Section 3941.43 - Continuation Of Oldest Of Constituent Companies.
  For the purposes of any law the application of which depends upon the length of time the company has been licensed or doing business,...
• Section 3941.44 - Filing Copy Of Agreement.
  On or before the effective date of the merger or consolidation, the superintendent shall file with the secretary of state one of the copies...
• Section 3941.45 - Certificate Of Fees Paid To Any Person In Connection With Securing Or Promoting Of Merger Or Consolidation Required To Be Filed.
  Attached to the petition for approval filed with the superintendent shall be a certificate of the president or secretary of each constituent company setting...
• Section 3941.46 - Filing Copy Of Agreement Of Merger Or Consolidation Of Foreign Or Alien Mutual Company Licensed In State.
  Any foreign or alien mutual company licensed in this state which is a party to a merger or consolidation shall on or before the...
• Section 3941.47 - Discontinuing Contract With Hospital.
  (A) As used in this section, "median price" means the median price charged to the mutual insurance company during the twelve months preceding the...
• Section 3941.48 - Contract With Only Hospital Operating In County.
  A mutual insurance company which has merged or consolidated with a hospital service association shall not either before or after January 1, 1991, terminate...
• Section 3941.49 - Contract With Only Osteopathic Hospital Operating In County.
  A mutual insurance company which has merged or consolidated with a hospital service association shall not terminate its contract entered into under Chapter 1739....
• Section 3941.50 - Reimbursement For Emergency Services.
  No policy of insurance issued or renewed by a mutual insurance company which has merged or consolidated with a hospital service association which provides...
• Section 3941.51 - Reimbursing Teaching Hospitals.
  Any mutual insurance company which merged or consolidated with a hospital service association shall take into consideration the case mix, education, and indigent care...
• Section 3941.52 - Unlawful Contracts.
  If any existing contract or any provision of any existing contract between a mutual insurance company subject to section 3941.47 of the Revised Code...
• Section 3941.53 - [Repealed].
  Effective Date: 06-30-1997

Last modified: October 10, 2016