Ohio § 1337.51
Full text of Ohio Ohio Revised Code § 1337.51, with citation guidance and answers to common questions.
§ 1337.51.
Unless the power of attorney otherwise provides, language in a power of attorney granting
general authority with respect to insurance and annuities authorizes the agent to
do all of the following: (A) Continue, pay the premium or make a contribution on, modify, exchange, rescind, release,
or terminate a contract procured by or on behalf of the principal that insures or
provides an annuity to either the principal or another person, whether or not the
principal is a beneficiary under the contract; (B) Procure new, different, and additional contracts of insurance and annuities for the
principal and the principal's spouse, children, and other dependents and select the
amount, type of insurance or annuity, and mode of payment; (C) Pay the premium or make a contribution on, modify, exchange, rescind, release, or
terminate a contract of insurance or annuity procured by the agent; (D) Apply for and receive a loan secured by a contract of insurance or annuity; (E) Surrender and receive the cash surrender value on a contract of insurance or annuity; (F) Exercise an election; (G) Exercise investment powers available under a contract of insurance or annuity; (H) Change the manner of paying premiums on a contract of insurance or annuity; (I) Change or convert the type of insurance or annuity with respect to which the principal
has or claims to have authority described in this section; (J) Apply for and procure a benefit or assistance under a statute or regulation to guarantee
or pay premiums of a contract of insurance on the life of the principal; (K) Collect, sell, assign, hypothecate, borrow against, or pledge the interest of the
principal in a contract of insurance or annuity; (L) Select the form and timing of the payment of proceeds from a contract of insurance
or annuity; (M) Pay from proceeds or otherwise, compromise or contest, and apply for refunds in connection
with a tax or assessment levied by a taxing authority with respect to a contract of
insurance or annuity or its proceeds or liability accruing by reason of the tax or
assessment.
Frequently Asked Questions About Ohio § 1337.51
What does Ohio Revised Code § 1337.51 cover?
Section 1337.51 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 § 1337.51?
A common citation format is "Ohio Revised Code § 1337.51" (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 § 1337.51 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.