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.
Structure Ohio Revised Code
Chapter 3907 | Domestic Legal Reserve Life Insurance Companies
Section 3907.01 | Formation of Insurance Company.
Section 3907.02 | Articles of Incorporation.
Section 3907.03 | Approval by Attorney General.
Section 3907.04 | Organization of Company.
Section 3907.05 | Escrowing Amount for Paid-in Capital and Contributed Surplus.
Section 3907.06 | Increase of Capital Stock.
Section 3907.07 | Deposit of Securities With Superintendent of Insurance.
Section 3907.08 | Commencement of Business.
Section 3907.12 | Reinsurance.
Section 3907.14 | Investment of Capital, Surplus, and Accumulations.
Section 3907.141 | Federal Limitations on Investments.
Section 3907.15 | Allocating Premiums.
Section 3907.17 | Certain Action Authorized.
Section 3907.19 | Annual Statements.