Ohio Code § 3901.53
Ohio Code § 3901.53. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 3901.53.
(A) Securities that are eligible for deposit under provisions of the insurance laws of
this state may be placed with a clearing corporation or held in the federal reserve
book-entry system. (B) When an insurance company places or arranges for the placement of securities in a
clearing corporation or in the federal reserve book-entry system, the securities so
placed shall satisfy the deposit requirements under provisions of the insurance laws
of this state, if all of the following conditions are satisfied: (1) The securities shall be under the control of the superintendent of insurance; (2) The securities shall not be withdrawn by the insurance company without the written
approval of the superintendent; (3) The placement shall be made pursuant to a written agreement between the insurance
company and a direct participant or member bank. The agreement shall be approved in writing by the superintendent and shall limit
withdrawals to those having the written approval of the department of insurance. (4) The placement shall be credited by the department as a deposit in its possession
on the basis of an affidavit of the insurance company describing the amount and nature
of the securities; (5) The insurance company holding the securities shall provide the superintendent with
both of the following: (a) Evidence issued by its direct participant or the member bank through which it has
placed securities in a clearing corporation or in the federal reserve book-entry system. The evidence shall be in a form that is sufficient to establish that the securities
are actually recorded in an account in the name of the direct participant or member
bank. (b) Evidence issued by its direct participant or the member bank that the records of
the direct participant or member bank reflect that the securities are held subject
to the written order of the superintendent.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 3901.53
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Ohio Revised Code. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Ohio attorney.
Common questions
What is the source of Ohio Revised Code § 3901.53?
The text above is transcribed from the Ohio Revised Code, the codified statutes of Ohio. The official publisher link appears under "Verify the text" on this page.
What subject does Ohio Revised Code § 3901.53 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Ohio Revised Code § 3901.53 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Ohio source before relying on this text.
Can this page be used as legal advice?
No. This is a reference transcription for research. Applying Ohio law to your facts requires a licensed Ohio attorney who can review the specifics.