Ohio Code § 3925.20

§ 3925.20.

No insurance company organized under Chapter 3925. of the Revised Code, shall purchase,

hold, or convey real estate, except for the following purposes and in the following

manner: (A) Real estate requisite for its convenient accommodation in the transaction of its

business; (B) Real estate mortgaged to it in good faith, by way of security for loans previously

contracted, or for money due; (C) Real estate conveyed to it in satisfaction of debts previously contracted in its

legitimate business, or for money due; (D) Real estate purchased at sales upon judgment or mortgages obtained or made for such

debts; (E) Real estate, or any interest in real estate, acquired or held by purchase, lease,

or otherwise, as an investment for production of income or to be improved or developed

for the production of income.  An insurer shall not have at any one time more than ten per cent of its assets invested

in real estate under this section.  An insurer shall not have at any one time more than two per cent of its assets invested

in any one real estate investment except with the prior approval of the superintendent

of insurance.  No investment in real estate to be used primarily for recreational, agricultural,

or mining purposes shall be made under authority of this section.