Ohio § 1109.34
Full text of Ohio Ohio Revised Code § 1109.34, with citation guidance and answers to common questions.
§ 1109.34.
(A) A state bank may invest in the securities of a domestic insurance company organized
under Chapter 3907. or 3925. of the Revised Code, regulated by the superintendent
of insurance under Title XXXIX of the Revised Code and engaged exclusively in the
business of reinsuring risks, to the extent permitted by and subject to limitations
and restrictions imposed by the superintendent of financial institutions by rules
adopted in accordance with Chapter 119. of the Revised Code. (B)(1) The total amount any state bank may invest in the common and preferred stock, obligations,
and other securities of domestic insurance companies pursuant to division (A) of this
section shall not exceed ten per cent of the bank's assets. (2) A state bank may file an application with the superintendent of financial institutions
for permission to invest, subject to the conditions and requirements prescribed by
the superintendent of financial institutions, an amount in excess of ten per cent
of the bank's capital in the common and preferred stock, bonds, debentures, and other
obligations of one domestic insurance company pursuant to division (A) of this section. (C) A state bank making investments pursuant to division (A) of this section shall report
the investments annually on the first day of March to the superintendent of financial
institutions and the superintendent of insurance. The report shall include, for each reinsurer in which the bank has made an investment,
information as to the amount of reinsurance written in this state by each line of
insurance designated by the superintendent of insurance.
Frequently Asked Questions About Ohio § 1109.34
What does Ohio Revised Code § 1109.34 cover?
Section 1109.34 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 § 1109.34?
A common citation format is "Ohio Revised Code § 1109.34" (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 § 1109.34 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.