Ohio § 3913.04
Full text of Ohio Ohio Revised Code § 3913.04, with citation guidance and answers to common questions.
§ 3913.04.
The trustees provided for in section 3913.02 of the Revised Code shall be appointed and vacancies shall be filled by the superintendent of insurance. Such trustees shall be qualified directors of the corporation at the time of such
appointment and shall continue as such trustees until the purpose of the trust is
accomplished or abandoned, unless they are removed for cause by the superintendent. Said trustees shall file with the superintendent a verified acceptance of their
appointment and a declaration that they will faithfully discharge their duties as
trustees. Such trustees shall give and file with the superintendent bonds in such an amount
as under the circumstances the superintendent deems proper, with sureties thereon
approved by the superintendent. All dividends and other sums received by said trustees on the shares of stock held
by them shall be immediately repaid to said corporation. The necessary expenses of executing the trust shall be paid by the corporation. All shares held by such trustees are considered as admitted assets of such corporation
at their par value. Neither the retirement of the corporation's capital stock nor the amendment of its
articles of incorporation shall affect existing suits, rights, or contracts of such
corporation. The deposit of one hundred thousand dollars in securities or mortgages made by such
corporation pursuant to section 3907.07 of the Revised Code , shall be retained by the superintendent in trust for the benefit and security of
all of the members and policyholders of such corporation.
Frequently Asked Questions About Ohio § 3913.04
What does Ohio Revised Code § 3913.04 cover?
Section 3913.04 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 § 3913.04?
A common citation format is "Ohio Revised Code § 3913.04" (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 § 3913.04 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.