Ohio Code § 3953.32
Ohio Code § 3953.32. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 3953.32.
(A) At the 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, and applicant that has requested the protection, both
individually and collectively, against the loss of settlement funds resulting from
any of the following acts of the title insurance company's named title insurance agent
or anyone acting on the agent's behalf: (1) Theft, misappropriation, fraud, or any other failure to properly disburse settlement,
closing, or escrow funds; (2) Failure to comply with any applicable written closing instructions, when agreed to
by the title insurance agent. (C) The issuance of closing or settlement protection by a title insurance company pursuant
to division (A) of this section is part of the business of title insurance for purposes
of Chapter 3953. of the Revised Code. (D) Except as provided in division (A) of this section, a title insurance company shall
not offer or issue any coverage purporting to indemnify against a person's improper
acts or omissions in connection with escrow, settlement, or closing services. (E) The superintendent of insurance may adopt rules in accordance with Chapter 119. of
the Revised Code as the superintendent considers necessary to carry out the purposes
of this section, including, but not limited to, rules that detail the specific language
that must be included in the written document offering closing or settlement protection
as provided for in division (A) of this section.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 3953.32
- 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 § 3953.32?
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 § 3953.32 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 § 3953.32 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?
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