Ohio Insurance Laws and Regulations Practice Exam

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Under which laws is a domestic insurance company in Ohio formed?

Laws of Ohio
Federal laws
International insurance laws
Laws of the nearest state

The correct answer is: Laws of Ohio

A domestic insurance company in Ohio would be formed under the laws of Ohio because it is a company that operates within the state of Ohio. Federal laws would apply to the company, but they would not govern its formation. International insurance laws do not apply in this scenario as the company is not operating outside of the United States. The laws of the nearest state may have some influence, but they would not directly govern the formation of the company in Ohio.