OH HB230

Redefines "joint venture" to specifically mean a title insurance company or agent with one or more beneficial owners, and creates a new definition of "beneficial owner" covering real estate agents, home builders, mortgage lenders, and certain attorneys who receive financial benefit from the joint venture

Prohibits title insurance companies from using banks, trust companies, lending institutions, mortgage services, real estate companies, their subsidiaries, employees, or related entities as title insurance agents

Expands anti-kickback provisions to prohibit title insurance companies and agents from paying commissions or compensation to insurance applicants, representatives of property owners/lessees/mortgagees, or family members of these parties

Requires annual reviews of title insurance agencies to assess whether they qualify as joint ventures and whether all beneficial owners received revenue commensurate with their ownership interest, with records retained for at least 10 years

Prohibits joint ventures from requiring dissolution or ownership buy-backs sooner than five years after formation, and bars mandatory ownership buy-backs based on referral volume, though allows forced sales in cases of criminal charges, leaving the real estate industry, license revocation, bankruptcy, or harmful conduct