Ohio HB230 revises joint venture title insurance company law, including record-keeping requirements and restrictions on beneficial owner actions.

Ohio HB230 amends the law governing joint venture title insurance companies. It mandates that joint venture title insurance agencies maintain detailed records of their escrow operations and financial transactions. These records must be kept for at least ten years to ensure compliance with state regulations. The bill also restricts joint ventures from requiring the sale or buyback of beneficial owner interests within the first five years of formation.

Ohio HB230 revises joint venture title insurance company law, including record-keeping requirements and restrictions on beneficial owner actions.

Ohio HB230 amends the law governing joint venture title insurance companies. It mandates that joint venture title insurance agencies maintain detailed records of their escrow operations and financial transactions. These records must be kept for at least ten years to ensure compliance with state regulations. The bill also restricts joint ventures from requiring the sale or buyback of beneficial owner interests within the first five years of formation.