Ohio § 3905.91
Full text of Ohio Ohio Revised Code § 3905.91, with citation guidance and answers to common questions.
§ 3905.91.
(A) All build-up funds posted by a surety bail bond agent or managing general agent,
either with an insurer or managing general agent representing an insurer, shall be
maintained in an individual build-up trust account for the surety bail bond agent
by the insurer or the managing general agent. The insurer or managing general agent shall establish the account in a federally
insured bank or savings and loan association in this state jointly in the name of
the surety bail bond agent and the insurer or managing general agent, or in trust
for the surety bail bond agent by the insurer or managing general agent. The account shall be open to inspection and examination by the department of insurance
at all times. The insurer or managing general agent shall maintain an accounting of all of those
funds, which accounting designates the amounts collected on each bond written. (B) Build-up funds shall not exceed forty per cent of the premium as established by the
surety bail bond agent's contract agreement with the insurer or managing general agent. Build-up funds received shall be immediately deposited to the build-up trust account. Interest earned on build-up trust accounts shall accrue to the surety bail bond
agent. (C) Build-up funds are due upon termination of the surety bail bond agent's contract
and discharge of liabilities on the bonds for which the build-up funds were posted. The insurer or managing general agent shall pay the funds to the surety bail bond
agent not later than six months after the funds are due.
Frequently Asked Questions About Ohio § 3905.91
What does Ohio Revised Code § 3905.91 cover?
Section 3905.91 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 § 3905.91?
A common citation format is "Ohio Revised Code § 3905.91" (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 § 3905.91 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.