The purposes of sections 3955.01 to 3955.19 of the Revised Code are to provide a mechanism for the payment of covered claims under certain insurance policies, avoid excessive delay in payment and reduce financial loss to claimants or policyholders because of the insolvency of an insurer, assist in the detection and prevention of insurer insolvencies, and provide an association to assess the cost of such protection among insurers.
Ohio Rev. Code Ann. § 3955.03
Purposes of chapter
Applied in 2 court decisions — leading case 69 Ohio St. 3d 571 - Lake Hospital System, Inc. v. Ohio Insurance Guaranty Ass'n (1994)
Most recently applied in Lake Hosp. Sys., Inc. v. Ohio Ins. Guar. Assn. (June 1994)
Effective: June 29, 1994; Latest Legislation: House Bill 89 - 120th 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.