Any contract, agreement, arrangement, or transaction including, but not limited to, any financing agreement or arrangement identified in section 1321.72 of the Revised Code entered into for the furtherance or aid of a stranger-originated life insurance act, practice, arrangement, or agreement is void and unenforceable.
Ohio Rev. Code Ann. § 3916.172
Transactions in furtherance of stranger-originated insurance void
Applied in 1 court decision — leading case Sun Life Assurance Company of Canada v. Wells Fargo Bank NA (080669) (Statewide) (2019)
Most recently applied in Sun Life Assurance Company of Canada v. Wells Fargo Bank NA (080669) (Statewide) (June 2019)
Effective: September 11, 2008; Latest Legislation: House Bill 404 - 127th General Assembly
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.