On September 11, 2008, House Bill 404, a new law aimed at eliminating Stranger-Originated Life Insurance (STOLI) transactions took effect. A hybrid of the NAIC and NCOIL Models, the Ohio law includes both a prohibition on marketing and issuing STOLI and a five-year “waiting period” before settlement of policies with STOLI characteristics. To date, the Ohio Department of Insurance has not proposed any rules implementing this new law.