REPRESENTATIVES Core, Seitz, Hoops, Gilb, Willamowski, McGregor, Collier, Gibbs, White, Hughes, Setzer, T. Patton, Wolpert, Daniels, Sferra, Martin, G. Smith, Aslanides, Book, Buehrer, Calvert, Carano, Clancy, DeGeeter, Domenick, Flowers, Grendell, Harwood, Reidelbach, Schmidt, Skindell, S. Smith, J. Stewart, Taylor, Woodard

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 a certificate or extension certificate

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with the county recorder.

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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	6
amended to read as follows:	7

Sec. 3929.18.  Any building insured by a mutual company must	8
be pledged to such company, together with the right and title of	9
the insured in the land upon which it is situated, to the amount	10
of the premium note or contingent liability, and the company shall	11
have a lien on such building and land to the amount of such note	12
or liability. Such lien shall not take effect until the company	13
files, with the county recorder of the county in which the	14
property insured is located, a certificate stating the date,	15
number, and amount of the premium note or contingent liability,	16
and such a description of the property insured as will enable a	17
person readily to identify it. The lien is valid for a period of	18
five years from the date of filing, unless sooner released or	19
satisfied in the same manner provided by law for the release and	20
satisfaction of mortgages on real property or discharged by the	21
final judgment or order of a court of competent jurisdiction.	22

A lien may be extended by the filing of an extension	23
certificate that references the original certificate and any	24
previous extension certificates prior to the expiration date of	25
the original certificate or then current extension certificate, in	26
which case the lien is valid for a period of five years from the	27
date of the filing of the extension certificate unless sooner	28
released or satisfied in the manner provided in this section. Any	29
lien filed under this section prior to the effective date of this	30
amendment shall be valid for a period of five years after the	31
effective date of this amendment unless sooner released or	32
satisfied in the manner provided in this section, and may be	33
extended by the filing of an extension certificate prior to the	34
expiration of the five-year period.	35

The recorder must record and index such certificate	36
certificates in histhe recorder's book of liens, for which hethe	37
recorder shall receive a fee as provided in section 317.32 of the	38
Revised Code.	39

Section 2. That existing section 3929.18 of the Revised Code	40
is hereby repealed.	41