Ohio Code § 3913.04
Ohio Code § 3913.04. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 3913.04.
The trustees provided for in section 3913.02 of the Revised Code shall be appointed and vacancies shall be filled by the superintendent of insurance. Such trustees shall be qualified directors of the corporation at the time of such
appointment and shall continue as such trustees until the purpose of the trust is
accomplished or abandoned, unless they are removed for cause by the superintendent. Said trustees shall file with the superintendent a verified acceptance of their
appointment and a declaration that they will faithfully discharge their duties as
trustees. Such trustees shall give and file with the superintendent bonds in such an amount
as under the circumstances the superintendent deems proper, with sureties thereon
approved by the superintendent. All dividends and other sums received by said trustees on the shares of stock held
by them shall be immediately repaid to said corporation. The necessary expenses of executing the trust shall be paid by the corporation. All shares held by such trustees are considered as admitted assets of such corporation
at their par value. Neither the retirement of the corporation's capital stock nor the amendment of its
articles of incorporation shall affect existing suits, rights, or contracts of such
corporation. The deposit of one hundred thousand dollars in securities or mortgages made by such
corporation pursuant to section 3907.07 of the Revised Code , shall be retained by the superintendent in trust for the benefit and security of
all of the members and policyholders of such corporation.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 3913.04
- 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 § 3913.04?
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 § 3913.04 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 § 3913.04 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.