Ohio § 3953.32
Full text of Ohio Ohio Revised Code § 3953.32, with citation guidance and answers to common questions.
§ 3953.32.
(A) At the time an order is placed with a title insurance company for issuance of a title
insurance policy, the title insurance company or the title insurance agent shall offer
closing or settlement protection to the lender, borrower, and seller of the property,
and to any applicant for title insurance. (B) The closing or settlement protection offered pursuant to this section shall indemnify
any lender, borrower, seller, and applicant that has requested the protection, both
individually and collectively, against the loss of settlement funds resulting from
any of the following acts of the title insurance company's named title insurance agent
or anyone acting on the agent's behalf: (1) Theft, misappropriation, fraud, or any other failure to properly disburse settlement,
closing, or escrow funds; (2) Failure to comply with any applicable written closing instructions, when agreed to
by the title insurance agent. (C) The issuance of closing or settlement protection by a title insurance company pursuant
to division (A) of this section is part of the business of title insurance for purposes
of Chapter 3953. of the Revised Code. (D) Except as provided in division (A) of this section, a title insurance company shall
not offer or issue any coverage purporting to indemnify against a person's improper
acts or omissions in connection with escrow, settlement, or closing services. (E) The superintendent of insurance may adopt rules in accordance with Chapter 119. of
the Revised Code as the superintendent considers necessary to carry out the purposes
of this section, including, but not limited to, rules that detail the specific language
that must be included in the written document offering closing or settlement protection
as provided for in division (A) of this section.
Frequently Asked Questions About Ohio § 3953.32
What does Ohio Revised Code § 3953.32 cover?
Section 3953.32 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 § 3953.32?
A common citation format is "Ohio Revised Code § 3953.32" (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 § 3953.32 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.