Ohio § 3909.03

§ 3909.03.

No life insurance company organized by act of congress or under the laws of another

state of the United States shall transact any business of insurance in this state

unless at least one hundred thousand dollars of its assets are invested in the interest

paying bonds or stocks of the United States, or of this state, or of any municipal

corporation or county of this state, or in farm loan bonds issued under the act of

congress known as the “Federal Farm Loan Act,” approved July 17, 1916, and amendments

thereto, or in the interest paying state bonds or stocks of some other state, of the

market value of one hundred thousand dollars in the city of New York, or in bonds

and mortgages on unencumbered real estate in this state, or in the state under the

laws of which it was organized, of at least double the value of the amount loaned

thereon, and unless such bonds and mortgages are deposited with the superintendent

of insurance of this state or the chief financial or other officer of the state in

which such company was organized, designated by the laws of such state to receive

them.  If such bonds and mortgages are deposited with the superintendent of insurance or

other officer of another state, the superintendent of insurance of this state shall

be furnished with the certificate of such state officer, under his hand and official

seal, that he, as such officer, holds in trust and on deposit for the benefit of the

policyholders of such company, said bonds and mortgages, giving the items thereof,

and stating that he is satisfied that such securities are worth at least one hundred

thousand dollars.