Ohio § 3930.07
Full text of Ohio Ohio Revised Code § 3930.07, with citation guidance and answers to common questions.
§ 3930.07.
(A) Upon a determination by the board of governors that the Ohio commercial insurance
joint underwriting association will be unable to pay its incurred obligations in any
class of commercial insurance, the board shall certify to the superintendent of insurance
the existence of this condition. Within ten days of board certification, the board shall file with the superintendent
a schedule of assessments for the collection of a loss contingency fund from association
policyholders of that class for the purpose of payment of such obligations. If a majority consisting of two-thirds of the members of the board approve the schedule
of assessments, it shall become final on the date that it is filed with the superintendent. If less than a two-thirds majority approve the schedule of assessments, it shall
become final within fifteen days of filing unless disapproved by the superintendent. The board shall levy the assessments on policyholders and provide for their collection. Failure of any such policyholder to make prompt payment of the assessment shall
be cause for cancellation of coverage. (B) Within sixty days after board certification as provided for in division (A) of this
section, the superintendent shall direct the board to perform an actuarial review
of existing coverages, rates, reserves, and assessments of the affected class of commercial
insurance.
Frequently Asked Questions About Ohio § 3930.07
What does Ohio Revised Code § 3930.07 cover?
Section 3930.07 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 § 3930.07?
A common citation format is "Ohio Revised Code § 3930.07" (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 § 3930.07 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.