Public-domain · open source
OpenJurist

Ohio Rev. Code Ann. § 3941.15

Assessment by impaired company

Effective: October 1, 1953; Latest Legislation: House Bill 1 - 100th General Assembly

Any domestic mutual company having a contingent liability which is not possessed of assets above its unearned premium sufficient for the payment of incurred losses and expenses is deemed to be impaired and shall make an assessment for the amount needed to pay such losses and expenses upon its members liable to assessment, in proportion to and within the limits of their several liabilities.

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.