Ohio Rev. Code § 3923.17

Current with legislation from 2024 received as of May 9, 2024.

Section 3923.17 - Prohibition of rebates not to prohibit commissions or dividends

The laws of this state prohibiting rebates do not prohibit any of the following:

(A) The payment of a commission or other compensation to any licensed agent or broker;

(B) Any insurer from allowing or returning to its participating policyholders dividends, savings, or unused premium deposits;

(C) Any insurer from returning or otherwise abating, in full or in part, the premiums of its policyholders out of surplus accumulated from nonparticipating insurance;

(D) The taking of a bona fide obligation, with interest at a rate not exceeding six per cent per annum, in the payment of any premium.

R.C. §3923.17

Effective Date: 10/1/1953 .