Ohio § 3953.06 Depositing securities

Ohio Statutes

§ 3953.06 — Depositing securities

Ohio § 3953.06

Title 39Insurance

Ch. 3953Title Insurance

This text of Ohio § 3953.06 (Depositing securities) 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. § 3953.06 (2026).

Text

Every title insurance company, prior to the issuance of any policy of title insurance in this state, shall deposit with the superintendent of insurance, for the security and protection of its policyholders in this state, fifty thousand dollars in bonds of the United States or of this state, or of a county, township, or municipal corporation in this state, which bonds shall not be received by the superintendent at a rate above their par value. The securities deposited may be exchanged from time to time for other securities. So long as the company continues solvent and complies with the laws of this state, it may collect the interest on the deposits. The deposit shall be governed by sections3929.07to3929.09of the Revised Code.

A title guarantee and trust company organized and engaged in bus

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Every title insurance company, prior to the issuance of any policy of title insurance in this state, shall deposit with the superintendent of insurance, for the security and protection of its policyholders in this state, fifty thousand dollars in bonds of the United States or of this state, or of a county, township, or municipal corporation in this state, which bonds shall not be received by the superintendent at a rate above their par value. The securities deposited may be exchanged from time to time for other securities. So long as the company continues solvent and complies with the laws of this state, it may collect the interest on the deposits. The deposit shall be governed by sections3929.07to3929.09of the Revised Code.

A title guarantee and trust company organized and engaged in business in this state under sections1735.01to1735.04of the Revised Code, as of August 6, 1941, which has on deposit with the treasurer of state the sum of fifty thousand dollars, as provided in section1735.03of the Revised Code, may in addition to its other powers, write title insurance without making an additional deposit therefor.