Ohio § 3903.40
Full text of Ohio Ohio Revised Code § 3903.40, with citation guidance and answers to common questions.
§ 3903.40.
Whenever a creditor whose claim against an insurer is secured, in whole or in part,
by the undertaking of another person, fails to prove and file that claim, the other
person may do so in the creditor's name, and shall be subrogated to the rights of
the creditor, whether the claim has been filed by the creditor or by the other person
in the creditor's name, to the extent that he discharges the undertaking. In the absence of an agreement with the creditor to the contrary, the other person
shall not be entitled to any distribution, however, until the amount paid to the creditor
on the undertaking plus the distributions paid on the claim from the insurer's estate
to the creditor equals the amount of the entire claim of the creditor. Any excess received by the creditor shall be held by him in trust for such other
person. The term “ other person ,” as used in this section, does not apply to a guaranty association or foreign guaranty
association.
Frequently Asked Questions About Ohio § 3903.40
What does Ohio Revised Code § 3903.40 cover?
Section 3903.40 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 § 3903.40?
A common citation format is "Ohio Revised Code § 3903.40" (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 § 3903.40 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.