Ohio Revised Code Search

...For those title insurance companies which also have powers to do a trust business, trust funds or assets held in a fiduciary capacity shall be invested in accordance with the statutes of this state governing trust companies.

...Any title insurance company organized under the laws of another state or foreign government shall be licensed to transact a title insurance business within this state only if such company is and remains of the same standard of solvency and complies with other requirements fixed by the laws of this state for title insurance companies organized and authorized to transact the business of title insurance pursuant to the ...

...No title insurance company not incorporated or organized under the laws of this state, but authorized to transact business herein, shall make, write, place, or cause to be made, written, or placed any policy or contract of insurance covering real property in this state, except; (A) Through a title insurance agent as defined in Chapter 3905. of the Revised Code; (B) Through a subsidiary title insurance company; (C)...

...(A) A title insurance company organized and incorporated under the laws of this state may merge, be merged by, or consolidated with, one or more title insurance companies whether or not so incorporated, by complying with Chapter 1701. of the Revised Code, but subject to the following: (1) No such merger or consolidation shall be effectuated unless in advance thereof, the plan and agreement therefor have been filed w...

...(A) A title insurance company organized and incorporated under the laws of this state may issue stock in exchange for all or any part of the assets or stock of a domestic or foreign title insurance company if, in advance thereof, a plan or agreement of acquisition has been filed with the superintendent of insurance. The superintendent shall examine the terms and conditions of such plan or agreement of acquisition, an...

...(A) Every title insurance company authorized to transact business within this state shall certify annually to the superintendent of insurance the names of all title insurance agents representing it in this state in accordance with section 3905.20 of the Revised Code. (B) No bank, trust company, bank and trust company, or other lending institution, mortgage service, brokerage, mortgage guaranty company, escrow compa...

...(A) Title insurance agents shall be licensed in the manner provided for agents of insurance companies in Chapter 3905. of the Revised Code. (B) A title insurance agent shall not be required to take an examination for such license if application for the original issuance of his license was filed with the superintendent of insurance on or before June 12, 1968.

...(A) Every title insurance agent shall keep books of account and record and vouchers pertaining to the business of title insurance in such manner that the title insurance company may readily ascertain from time to time whether the agent has complied with this chapter. (B) A title insurance agent may engage in the business of handling escrows of real property transactions provided that the agent shall maintain a sep...

...(A)(1) Each title insurance agent or title insurance company shall establish and maintain an interest-bearing trust account for the deposit of all non-directed escrow funds that meet the requirements of sections 1349.20 to 1349.22 of the Revised Code. (2) The account shall be established and maintained in any federally insured bank, savings and loan association, credit union, or savings bank that is authorized to t...

...December 12, 1967, no agent for a title insurance company shall adopt a firm name containing the words, "title insurance," "title guaranty," or "title guarantee."

...A title insurance company may pay a commission only to a title insurance agent as defined in division (H) of section 3953.01 of the Revised Code.

...No title insurance company and no title insurance agent shall pay or give any applicant for insurance, or to any person, firm, or corporation who is acting as agent, representative, attorney, or employee of the owner, lessee, mortgagee, or of the prospective owner, lessee, or mortgagee of the real property or any interest therein, either directly or indirectly, any commission or any part of its fees or charges, or an...

...rges between or among two or more title insurance companies or between or among one or more title insurance companies and one or more title insurance agents, between or among two or more title insurance agents, provided such division of fees and charges does not constitute an unlawful rebate or is not in payment of a forwarding fee or finder's fee.

...Every title insurance company shall file with the superintendent of insurance, all forms of title policies and other contracts of title insurance before the same are issued. Any such filing may be made by a title insurance rating organization in behalf of all its members or subscribers. In no event shall any title insurance company issue any such form of policy or contract until thirty days after it has been filed wi...

...and 5310. of the Revised Code, no title insurance company shall write a policy or contract of title insurance that includes any specific reference to any restrictive covenant that appears to apply to the transferred registered land, if any inclusion of the restrictive covenant in a transfer, rental, or lease of housing accommodations, any honoring or exercising of the restrictive covenant, or any attempt to honor or ...

...ssure payment of the debt. (B) A title insurance agent issuing a lender's title insurance policy in conjunction with a residential mortgage loan made simultaneously with the purchase of all or part of the real property securing the loan, where no owner's title insurance policy has been requested, shall give written notice, on a form prescribed or approved by the superintendent of insurance, to the mortgagor at the t...

...he time an order is placed with a title insurance company for issuance of a title insurance policy, the title insurance company or the title insurance agent shall offer closing or settlement protection to the lender, borrower, and seller of the property, and to any applicant for title insurance. (B) The closing or settlement protection offered pursuant to this section shall indemnify any lender, borrower, seller, an...

...(A) Every title insurance agent or agency that handles escrow, settlement, closing, or security deposit accounts shall have an independent review made of its escrow, settlement, closing, and security deposit accounts each year on or before the thirty-first day of December for the twelve-month period ending the preceding thirty-first day of August. The title insurance agent or agency shall provide proof of t...

...(A) For a title insurance agency that is a joint venture, the annual review required under section 3953.33 of the Revised Code shall demonstrate that all members of the joint venture received revenue during the year in question from the title agency commensurate to their ownership interest in the title agency. The superintendent of insurance shall promulgate rules under Chapter 119. of the Revised Code setting forth ...

...(A) No title insurance agent shall do any of the following in connection with a mortgage loan of seventy-five thousand dollars or less: (1) Knowingly coerce or wrongfully instruct the consumer to enter into the loan; (2) Knowingly fail to disclose to the consumer that the consumer does not have to close on the loan; (3) Knowingly make a material misrepresentation to the consumer regarding the terms of the loan. (...

...not be based on the percentage of title insurance business referred to the original joint venture.

...out of and is within the coverage of an insurance policy or policies to which sections 3955.01 to 3955.19 of the Revised Code apply, when issued by an insurer which becomes an insolvent insurer on or after September 4, 1970, and either of the following applies: (a) The claimant or insured is a resident of this state at the time of the insured event, provided that for the purpose of determining the place of residence...

...e Revised Code may be cited as the Ohio insurance guaranty association act.

...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.

...Sections 3955.01 to 3955.19 of the Revised Code shall be liberally construed to effect the purpose stated under section 3955.03 of the Revised Code, which shall constitute an aid and guide to interpretation.