Ohio § 3918.08
Full text of Ohio Ohio Revised Code § 3918.08, with citation guidance and answers to common questions.
§ 3918.08.
(A) Each insurer issuing credit life insurance or credit accident and health insurance
shall file with the superintendent of insurance its schedules of premium rates for
use in connection with such insurance. Any insurer may revise such schedules from time to time, and shall file such revised
schedules with the superintendent. No insurer shall issue any credit life insurance policy for which the premium rate
exceeds that determined by the schedules of such insurer as then on file with the
superintendent. The superintendent may require the filing of the schedule of premium rates for use
in connection with and as a part of the specific policy filings as provided by section 3918.07 of the Revised Code . (B) Each individual policy, group certificate, or notice of proposed insurance shall
provide that in the event of termination of the insurance prior to the scheduled maturity
date of the indebtedness, any refund of an amount paid by the debtor for insurance
shall be paid or credited promptly to the person entitled thereto; provided, that
the superintendent shall prescribe a minimum refund and no refund which would be less
than such minimum need be made. The formula to be used in computing such refund shall be filed with and approved by
the superintendent. (C) If a creditor requires a debtor to make any payment for credit life insurance or
credit accident and health insurance and an individual policy or group certificate
of insurance is not issued, the creditor shall immediately give written notice to
such debtor and shall promptly make an appropriate credit to the account. (D) The amount charged to a debtor for credit life or credit accident and health insurance
shall not exceed the premium charged by the insurer, as computed at the time the charge
to the debtor is determined. No dividend or rate credit with respect to premiums payable during a calendar or
policy year shall be granted by an insurer prior to the end of such calendar or policy
year and then only retrospectively based upon experience.
Frequently Asked Questions About Ohio § 3918.08
What does Ohio Revised Code § 3918.08 cover?
Section 3918.08 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 § 3918.08?
A common citation format is "Ohio Revised Code § 3918.08" (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 § 3918.08 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.