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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 3907.06 | Increase of capital stock.

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

When, in the opinion of its board of directors, a legal reserve life insurance company organized under any law of this state, requires a larger amount of capital than that fixed by its articles of incorporation, its board shall, after authorization by the holders of two thirds of the stock, file with the secretary of state a certificate setting forth the amount of the desired increase, and thereafter the company shall be entitled to have the increased amount of capital fixed by the certificate, which shall be invested as required by section 3907.05 of the Revised Code.

Available Versions of this Section