Ohio Code § 1321.78
Ohio Code § 1321.78. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1321.78.
(A) A premium finance agreement shall: (1) Be dated, signed by the insured, and the printed portion thereof shall be in at least
eight-point type; (2) Contain the name and place of business of the insurance agent or broker negotiating
the related insurance contract, the name and residence or the place of business of
the insured as specified by him, the name and address of the premium finance company,
and a description of the insurance contracts involved and the amount of the premium
therefor; (3) Set forth any charges the premium finance company elects to charge under sections 1321.79 , 1321.791 , and 1321.80 of the Revised Code . (B) The premium finance company, agent, or agency shall deliver to the insured 1 or send by regular mail to the insured at the address provided in the agreement,
a complete copy of the premium finance agreement. (C) A premium finance company shall give notice of its financing to the insurer not later
than the thirtieth day after the date on which the premium financing agreement is
accepted by the premium finance company. A notice given under this section shall be effective whether or not the insurer's
policy number is set forth in the notice. (D) Notwithstanding divisions (C) and (D) of section 1321.72 of the Revised Code , in the case of a life insurance policy, any premium finance company shall give notice
of its financing to the insurer either prior to the issuance of the life insurance
policy if the financing agreement is accepted prior to the issuance of the policy
or prior to the completion of the premium financing transaction if the financing agreement
is accepted after the issuance of the policy. (E) If premium financing is used in connection with a life insurance policy, and the
premium finance company fails to provide notice of its financing to the insurer pursuant
to division (D) of this section, the premium financing agreement is unenforceable
as a matter of public policy. 1
Prior and current versions differ; although no amendment to this language was indicated
in 2008 H 404, a comma appeared in 1994 S 259.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1321.78
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
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