Ohio § 1739.08 Powers of board of trustees

Ohio Statutes

§ 1739.08 — Powers of board of trustees

Ohio § 1739.08

Title 17Corporations-Partnerships

Ch. 1739Multiple Employer Welfare Arrangements

This text of Ohio § 1739.08 (Powers of board of trustees) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 1739.08 (2026).

Text

(A)A multiple employer welfare arrangement created pursuant to sections1739.01to1739.22of the Revised Code shall be operated by a board of trustees chosen by a majority of the participating members of the arrangement in accordance with sections1739.01to1739.22of the Revised Code and with the articles and bylaws of the arrangement.

(B)The board, in addition to other powers contained in its articles, shall do all of the following:

(1)Invest and reinvest funds held by it in accordance with section3925.08of the Revised Code;

(2)Collect and disburse all money due or payable;

(3)Employ and contract with actuaries, accountants, and other agents and employees necessary for the operation of the arrangement.

(C)The board, in addition to other powers contained in its articles, may do all o

Free access — add to your briefcase to read the full text and ask questions with AI

(A) A multiple employer welfare arrangement created pursuant to sections1739.01to1739.22of the Revised Code shall be operated by a board of trustees chosen by a majority of the participating members of the arrangement in accordance with sections1739.01to1739.22of the Revised Code and with the articles and bylaws of the arrangement.

(B) The board, in addition to other powers contained in its articles, shall do all of the following:

(1) Invest and reinvest funds held by it in accordance with section3925.08of the Revised Code;

(2) Collect and disburse all money due or payable;

(3) Employ and contract with actuaries, accountants, and other agents and employees necessary for the operation of the arrangement.

(C) The board, in addition to other powers contained in its articles, may do all of the following:

(1) Employ and contract with banks, corporate trustees, insurance agents, and insurers authorized to do business in this state;

(2) Employ third-party administrators;

(3) Contract with any person or any agency of the state or of a political subdivision for the use of services or facilities necessary, useful, or incidental to the operation of the arrangement;

(4) Employ legal counsel;

(5) Execute contracts necessary or incidental to the operation of the arrangement;

(6) Pay dividends, with the approval of the superintendent of insurance, to or levy assessments on its members;

(7) Purchase bonds and insurance necessary to comply with requirements of the "Employee Retirement Income Security Act of 1974," 88 Stat. 829, 29 U.S.C.A. 1001, as amended, sections1739.01to1739.22of the Revised Code, and rules adopted by the superintendent pursuant to such sections;

(8) Perform such other acts, not inconsistent with sections1739.01to1739.22of the Revised Code or other laws of this state.