Ohio § 3931.05
Full text of Ohio Ohio Revised Code § 3931.05, with citation guidance and answers to common questions.
§ 3931.05.
Every attorney under section 3931.01 of the Revised Code shall create and maintain a reserve fund equal to fifty per cent of the amount of
advance premiums or deposits received and receivable on unexpired contracts of indemnity
running one year or less from date of issue, and a pro rata amount of premiums or
deposits received or receivable on unexpired contracts of indemnity running more than
one year from date of issue. If it appears to the superintendent of insurance that the assets, invested as permitted
by the laws regulating the investments of insurance companies, and moneys accumulated
by any such attorney, after deducting therefrom a reserve fund computed as provided
in this section, are less than the liabilities incurred and unpaid, such reserve fund
shall be restored within thirty days from the service of a requisition for that purpose
by the superintendent upon the attorney. If any such attorney or other person makes any advancements to restore any such
impairment, the claim for said advancements against his subscribers shall be deferred
to claims for losses. If such reserve fund is not restored as required, the superintendent may revoke
the license of the attorney.
Frequently Asked Questions About Ohio § 3931.05
What does Ohio Revised Code § 3931.05 cover?
Section 3931.05 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 § 3931.05?
A common citation format is "Ohio Revised Code § 3931.05" (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 § 3931.05 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.