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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 3907.18 | Dividends.

Ohio Revised Code
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Title 39 Insurance
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Chapter 3907 Domestic Legal Reserve Life Insurance Companies
 
Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
PDF:
Download Authenticated PDF
 

The directors, managers, or officers of any legal reserve life insurance company organized under the laws of this state shall not, directly or indirectly, make or pay a dividend, or pay any interest, bonus, or other allowances in lieu thereof, to its stockholders, except from surplus funds which exist after setting aside an amount equal to the reserve on all its outstanding risks and policies, calculated by the American Experience Table, with interest at four per cent annually, or calculated by any other higher standard that the company has adopted, and the unearned premium on all personal accident and sickness insurance.

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