3923.17 Prohibition of rebates not to prohibit commissions or dividends.
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.
Effective Date: 10-01-1953