Section 3956.03 | Purpose of chapter.
The purpose of this chapter is to protect, subject to certain limitations, the persons specified in division (A) of section 3956.04 of the Revised Code against failure in the performance of contractual obligations under life, health, and annuity policies, plans, or contracts specified in division (C) of section 3956.04 of the Revised Code, due to the impairment or insolvency of the member insurer that issued the policies, plans, or contracts. To provide this protection, the Ohio life and health insurance guaranty association, an association of member insurers, is created to pay benefits and to continue coverages, as limited in this chapter. Members of the association are subject to assessment to provide funds to carry out the purpose of this chapter.
Last updated July 15, 2022 at 11:18 AM
Available Versions of this Section
- November 20, 1989 – House Bill 89 - 118th General Assembly [ View November 20, 1989 Version ]
- September 13, 2022 – Amended by Senate Bill 273 - 134th General Assembly [ View September 13, 2022 Version ]