Ohio § 3953.23
Full text of Ohio Ohio Revised Code § 3953.23, with citation guidance and answers to common questions.
§ 3953.23.
(A) Every title insurance agent shall keep books of account and record and vouchers pertaining
to the business of title insurance in such manner that the title insurance company
may readily ascertain from time to time whether the agent has complied with this chapter. (B) A title insurance agent may engage in the business of handling escrows of real property
transactions provided that the agent shall maintain a separate record of all receipts
and disbursements of escrow funds and shall not commingle any such funds with the
agent's own funds or with funds held by the agent in any other capacity; and if at
any time the superintendent of insurance determines that an agent has failed to comply
with any of the provisions of this section, the superintendent may revoke the license
of the agent pursuant to section 3905.14 of the Revised Code , subject to review as provided for in Chapter 119. of the Revised Code. (C) All title insurance agents or agencies that handle escrows in real property transactions
not involving the issuance of title insurance shall have coverage that protects the
parties to such transactions against theft, misappropriation, fraud, or any other
failure to properly disburse settlement, closing, or escrow funds. The superintendent shall adopt rules under Chapter 119. of the Revised Code setting
forth the minimum requirements for such coverage, including, but not limited to, the
minimum amounts, terms, and conditions of such coverage. (D) The superintendent shall require every title insurance agent or agency and any subcontractors
to maintain an errors and omissions policy, in any amount exceeding minimum limits
established by the superintendent, that includes but is not limited to coverage for
the agent's or agency's delegation of any agent or agency function. The superintendent shall adopt rules under Chapter 119. of the Revised Code setting
forth the minimum requirements for that coverage, including but not limited to the
minimum amounts, terms, and conditions of the coverage.
Frequently Asked Questions About Ohio § 3953.23
What does Ohio Revised Code § 3953.23 cover?
Section 3953.23 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 § 3953.23?
A common citation format is "Ohio Revised Code § 3953.23" (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 § 3953.23 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.