Ohio § 1321.81
Full text of Ohio Ohio Revised Code § 1321.81, with citation guidance and answers to common questions.
§ 1321.81.
(A) When a premium finance agreement contains a power of attorney authorizing the premium
finance company to cancel any insurance contract or contracts listed in the agreement,
the insurance contract or contracts shall not be cancelled by the premium finance
company unless the cancellation is effectuated in accordance with this section. (B) Not less than ten days' written notice shall be mailed to the insured at his last
known mailing address, as shown on the records of the premium finance company, of
the intent of the premium finance company to cancel the insurance contract unless
the default is cured within such ten-day period. (C) After expiration of such ten-day period, the premium finance company may cancel,
in the name of the insured, such insurance contract or contracts by mailing to the
insurer a notice of cancellation, and the insurance contract shall be cancelled as
if such notice of cancellation had been submitted by the insured himself, but without
requiring the return of the insurance contract or contracts. The premium finance company also shall mail a notice of cancellation to the insured
at his last known mailing address, as shown on the records of the premium finance
company. (D) All statutory, regulatory, and contractual restrictions providing that the insurance
contract may not be cancelled unless notice is given to a governmental agency, mortgagee,
or other third party shall apply where cancellation is effected under this section. The insurer shall give the prescribed notice in behalf of itself or the insured
to any governmental agency, mortgagee, or third party on or before the second business
day after the day it receives the notice of cancellation from the premium finance
company and shall determine the effective date of cancellation taking into consideration
the number of days' notice required to complete the cancellation. (E) The premium finance company shall retain copies of the notices required under divisions
(B) and (C) of this section by placing them in the insured's file or by preserving
them in a retrieval system maintained in whole or in part by mechanical or electronic
data processing methods.
Frequently Asked Questions About Ohio § 1321.81
What does Ohio Revised Code § 1321.81 cover?
Section 1321.81 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 § 1321.81?
A common citation format is "Ohio Revised Code § 1321.81" (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 § 1321.81 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.