Trusts or other persons that are created to give the appearance of insurable interest and are used to initiate one or more policies for investors violate insurable interest laws and the prohibition against wagering on life.
Ohio Rev. Code Ann. § 3916.173
Trusts to give appearance of insurable interest illegal
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.