REPRESENTATIVES Core, Seitz, Hoops, Gilb, Willamowski, McGregor, Collier

To amend section 3929.18 of the Revised Code to limit

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the duration of a mutual insurance company's lien

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on property it insures to five years from the date

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of filing.

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BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:

Section 1. That section 3929.18 of the Revised Code be	5
amended to read as follows:	6

Sec. 3929.18.  Any building insured by a mutual company must	7
be pledged to such company, together with the right and title of	8
the insured in the land upon which it is situated, to the amount	9
of the premium note or contingent liability, and the company shall	10
have a lien on such building and land to the amount of such note	11
or liability. Such lien shall not take effect until the company	12
files, with the county recorder of the county in which the	13
property insured is located, a certificate stating the date,	14
number, and amount of the premium note or contingent liability,	15
and such a description of the property insured as will enable a	16
person readily to identify it. The lien is valid for a period of	17
five years from the date of filing, unless sooner released or	18
satisfied in the same manner provided by law for the release and	19
satisfaction of mortgages on real property or discharged by the	20
final judgment or order of a court of competent jurisdiction.	21

The recorder must record and index such certificate in his	22
the recorder's book of liens, for which hethe recorder shall	23
receive a fee as provided in section 317.32 of the Revised Code.	24

Section 2. That existing section 3929.18 of the Revised Code	25
is hereby repealed.	26