Ohio § 3907.07
Full text of Ohio Ohio Revised Code § 3907.07, with citation guidance and answers to common questions.
§ 3907.07.
Any legal reserve life insurance company organized under the laws of this state may
invest its capital in the stocks, bonds, or mortgages authorized by section 3907.05 of the Revised Code , and may change and invest it or any part thereof in like manner. No company shall commence business until it has deposited with the superintendent
of insurance at least one hundred thousand dollars, in such stocks, bonds, or mortgages,
made or assigned to the superintendent in trust for the purposes mentioned in sections 3907.01 to 3907.21, inclusive, of the Revised Code . When a mortgage of real estate is assigned to the superintendent, the assignment
shall be immediately entered in the records of the county in which the real estate
is situated, and the fee for its recording shall be paid by the company. The superintendent shall hold such securities as security for policyholders in the
company. As long as any company depositing such securities remains solvent, he shall permit
it to collect the interest or dividends on the securities, and from time to time to
withdraw them, or a part thereof, on depositing with him other securities of the kinds
named in section 3907.05 of the Revised Code , and of equal value with those withdrawn. In case a company making or maintaining such deposit with the superintendent, through
inadvertence or by reason of not having securities in such denominations as to make
the exact sum of one hundred thousand dollars, deposits securities in excess of the
requirement, such excess shall be held in trust for the company and not for the benefit
of policyholders, and shall be returned to the company making the deposit on its demand.
Frequently Asked Questions About Ohio § 3907.07
What does Ohio Revised Code § 3907.07 cover?
Section 3907.07 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 § 3907.07?
A common citation format is "Ohio Revised Code § 3907.07" (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 § 3907.07 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.