Ohio § 3911.012
Full text of Ohio Ohio Revised Code § 3911.012, with citation guidance and answers to common questions.
§ 3911.012.
(A) Each life insurance company authorized to transact business in this state shall maintain
reserves, with respect to any line of sickness and accident insurance that it writes,
in at least all of the following amounts: (1) An amount that equals the unearned portions of the gross premiums charged on unexpired
or unterminated risks and policies; (2) An amount that is estimated to be sufficient to provide for the ultimate payment
of all losses or claims, whether reported or unreported, for which the company may
be liable, if the losses or claims are incurred on or before the date that the annual
or interim financial statement is filed and remain unpaid as of that date. (3) An amount that is estimated to provide for the expenses incurred in adjusting or
settling the claims described in division (A)(2) of this section. (B) Each company shall calculate the reserves required under division (A) of this section
in accordance with any rules adopted, in accordance with Chapter 119. of the Revised
Code, by the superintendent of insurance.
Frequently Asked Questions About Ohio § 3911.012
What does Ohio Revised Code § 3911.012 cover?
Section 3911.012 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 § 3911.012?
A common citation format is "Ohio Revised Code § 3911.012" (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 § 3911.012 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.