Ohio § 3901.74
Full text of Ohio Ohio Revised Code § 3901.74, with citation guidance and answers to common questions.
§ 3901.74.
When a life insurance company doing business in this state decides to discontinue
its business, the superintendent of insurance upon the application of the company
or association shall give notice, at its expense, of such intention at least once
a week for six weeks in a newspaper published and of general circulation in the county
in which the company or its general agency is located. After such publication, the superintendent shall deliver to the company or association
its securities held by the superintendent, if the superintendent is satisfied on an
exhibition of its books and papers, and on an examination made by the superintendent
or by some competent, disinterested person appointed by the superintendent, and upon
the oath of the president or principal officer and the secretary or actuary of the
company, that all debts and liabilities due or to become due upon any contract or
agreement made with any citizen or resident of the United States are paid and extinguished. The superintendent may deliver to the company or association or its assigns any
portion of the securities on being satisfied that an equal proportion of the debts
and liabilities due or to become due upon any such contract or agreement have been
satisfied, if the amount of securities retained by the superintendent is not less
than twice the amount of the remaining liabilities.
Frequently Asked Questions About Ohio § 3901.74
What does Ohio Revised Code § 3901.74 cover?
Section 3901.74 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 3901.74?
A common citation format is "Ohio Revised Code § 3901.74" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 3901.74 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.