Section 3964.178 | Conversion of Captive Insurance Company to Protected Cell Captive Insurance Company.
Effective: September 17, 2014 Latest Legislation: House Bill 117 – 130th General Assembly (A) A captive insurance company may amend its organizational document to become a protected cell captive insurance company. (B) The amendment of the organizational document of a captive insurance company to become a protected cell captive insurance company shall require approval by […]
Section 3964.179 | Transfer of Protected Cells.
Effective: September 17, 2014 Latest Legislation: House Bill 117 – 130th General Assembly (A) A protected cell of a protected cell captive insurance company may be transferred to another protected cell captive insurance company. (B) The protected cell captive insurance companies between which a protected cell is being transferred shall enter into a written agreement […]
Section 3964.1710 | Incorporation of Other Insurance Companies as Captive Cell; Approval of Superintendent.
Effective: September 17, 2014 Latest Legislation: House Bill 117 – 130th General Assembly (A) Any insurance company organized under Chapter 3925. of the Revised Code, and any captive insurance company that is not a protected cell captive insurance company, may become a protected cell of a protected cell captive insurance company, with the approval of […]
Section 3964.18 | Liquidation.
Effective: September 17, 2014 Latest Legislation: House Bill 117 – 130th General Assembly (A) If a protected cell captive insurance company with one or more protected cells is being liquidated, the protected cell captive insurance company may be considered to have no assets and no liabilities only if the protected cell captive insurance company continues […]
Section 3964.19 | Contracts of Assumption of Risk or Indemnification; Permissible Commercial Activities.
Effective: January 1, 2021 Latest Legislation: House Bill 339 – 133rd General Assembly (A) As used in sections 3964.19 to 3964.194 of the Revised Code: (1) “Counterparty” means a special purpose financial captive insurance company’s parent or an affiliated entity that is an insurer domiciled in this state that cedes life insurance risks to the […]
Section 3964.191 | Grounds for Rehabilitation or Liquidation.
Effective: September 17, 2014 Latest Legislation: House Bill 117 – 130th General Assembly (A) Notwithstanding the provisions of sections 3903.01 to 3903.59 of the Revised Code, the superintendent may apply to the court of common pleas of Franklin county for an order authorizing the superintendent to rehabilitate or liquidate a special purpose financial captive insurance […]
Section 3964.193 | Confidentiality of Information.
Effective: September 17, 2014 Latest Legislation: House Bill 117 – 130th General Assembly (A) Except as otherwise provided in this section, documents and information submitted by a company pursuant to sections 3964.19 to 3964.194 of the Revised Code are not subject to section 149.43 of the Revised Code, and are confidential, and may not be […]
Section 3964.194 | Counterparties; Credit for Reinsurance Ceded to Special Purpose Financial Captive Insurance Company That Is a Subsidiary or Affiliate of the Counterparty.
Effective: September 17, 2014 Latest Legislation: House Bill 117 – 130th General Assembly (A) Notwithstanding any other section of the Revised Code, a counterparty may take credit for reinsurance ceded to a special purpose financial captive insurance company that is a subsidiary or affiliate of the counterparty, if assets valued using the basis of accounting […]
Section 3964.20 | Foreign Companies.
Effective: September 17, 2014 Latest Legislation: House Bill 117 – 130th General Assembly A captive insurance company organized under the laws of another state or jurisdiction may become a domestic captive insurance company pursuant to section 3913.40 of the Revised Code after complying with all the requirements of this chapter relative to the organization and […]
Section 3964.21 | Rules.
Effective: September 17, 2014 Latest Legislation: House Bill 117 – 130th General Assembly The superintendent may adopt rules in accordance with Chapter 119. of the Revised Code as are reasonably necessary for the implementation and operation of this chapter.