Ohio § 3921.31 Notice and correction of deficiency of society

Ohio Statutes

§ 3921.31 — Notice and correction of deficiency of society

Ohio § 3921.31

Title 39Insurance

Ch. 3921Fraternal Benefit Societies

This text of Ohio § 3921.31 (Notice and correction of deficiency of society) 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. § 3921.31 (2026).

Text

If the superintendent of insurance finds, upon  investigation, that a foreign or alien fraternal benefit society  transacting or applying to transact business in this state has  exceeded its powers, has failed to comply with any provision of  this chapter, is not fulfilling its contracts in good faith, or is  conducting its business fraudulently or in a manner hazardous to  its members or creditors or the public, the superintendent shall  issue a written notice to the society that sets forth the  deficiency and the reasons for the superintendent's  dissatisfaction, and that requires the society to correct the  deficiency within thirty days after receipt of the notice. If the  society fails to correct the deficiency within that thirty-day  period, the superintendent shall commence an action

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If the superintendent of insurance finds, upon investigation, that a foreign or alien fraternal benefit society transacting or applying to transact business in this state has exceeded its powers, has failed to comply with any provision of this chapter, is not fulfilling its contracts in good faith, or is conducting its business fraudulently or in a manner hazardous to its members or creditors or the public, the superintendent shall issue a written notice to the society that sets forth the deficiency and the reasons for the superintendent's dissatisfaction, and that requires the society to correct the deficiency within thirty days after receipt of the notice. If the society fails to correct the deficiency within that thirty-day period, the superintendent shall commence an action against the society under section3903.71of the Revised Code.