reglab/housing_qa huggingface dataset:
Ohio Rev Code § 3964.09 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|Section 3964.09 | Suspension or Revocation of License.

Effective: September 17, 2014|Latest Legislation:  House Bill 117 - 130th General Assembly|The superintendent may suspend or revoke the license of a captive insurance company, in accordance with Chapter 119. of the Revised Code, for any of the following reasons: (A) Insolvency or impairment of capital or surplus;(B) Failure to meet the requirements of section 3964.05 of the Revised Code;(C) Refusal or failure to submit an annual report, as required by section 3964.07 of the Revised Code, or any other report or statement required by law or by lawful order of the superintendent;(D) Failure to comply with the provisions of its own articles, bylaws, code of regulations, or other organizational documents;(E) Failure to submit to, or pay the cost of, examination, or any legal obligation related to examination, as required by this chapter;(F) Use of practices that, although not otherwise specifically prohibited by law, are determined by the superintendent to render its operation detrimental or its condition unsound with respect to the public or to its policyholders;(G) Failure to otherwise comply with the laws of this state.
Ohio Rev Code § 3964.10 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|Section 3964.10 | Investments.

Effective: September 17, 2014|Latest Legislation:  House Bill 117 - 130th General Assembly|(A) The board of directors of a captive insurance company shall determine appropriate investments for the company. With respect to all of the insurance company's investments, the board of directors shall exercise the judgment and care, under the circumstances then prevailing, that a person of reasonable prudence, discretion, and intelligence might exercise in the management of a like enterprise, that person not having an intent to speculate, but having regard for the permanent disposition of the person's funds, considering the probable income as well as the probable safety of the person's capital. (B)(1) Investments shall be of sufficient value, liquidity, and diversity to assure the captive insurance company's ability to meet its outstanding obligations, based on reasonable estimations of new business production for current lines of business. A copy of the investment policy adopted by the board of directors shall be filed with the superintendent.(2) If the superintendent determines that a board of directors of a captive insurance company has failed to comply with the requirements of division (B)(1) of this section, the company shall be notified in writing that it is required to file a schedule of its proposed investments with the superintendent.(C)(1) No captive insurance company may make a loan to, or an investment in, its parent company or affiliates without prior written approval of the superintendent.(2) Any such loan or investment shall be evidenced by documentation approved by the superintendent.(3) Loans that violate the minimum capital and surplus funds requirements of section 3964.05 of the Revised Code are prohibited.
Ohio Rev Code § 3964.11 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|Section 3964.11 | Rating Organizations; Affiliation Not Required.

Effective: September 17, 2014|Latest Legislation:  House Bill 117 - 130th General Assembly|No captive insurance company shall be required to join a rating organization.
Ohio Rev Code § 3964.12 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|Section 3964.12 | Affiliation With Insolvency Fund Prohibited.

Effective: September 17, 2014|Latest Legislation:  House Bill 117 - 130th General Assembly|No captive insurance company shall be permitted to join or contribute financially to any plan, pool, association, or guaranty or insolvency fund in this state, nor shall any captive insurance company, or any insured or affiliate thereof, receive any benefit from any such plan, pool, association, or guaranty or insolvency fund for claims arising out of the operations of the captive insurance company.
Ohio Rev Code § 3964.13 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|Section 3964.13 | Fees.

Effective: September 17, 2014|Latest Legislation:  House Bill 117 - 130th General Assembly|(A)(1) Not later than the second day of March of each year, a captive insurance company shall pay to the superintendent of insurance a fee computed in accordance with both of the following: (a) 0.35 per cent on its net direct premiums;(b) 0.15 per cent on revenue from assumed reinsurance premiums.(2) The annual minimum aggregate fee to be paid by a captive insurance company calculated under this division shall be seven thousand five hundred dollars. The annual maximum aggregate fee to be paid by a captive insurance company calculated under this division shall be two hundred fifty thousand dollars.(B) The fee on reinsurance premiums set forth under division (A)(1)(b) of this section shall not be levied on premiums for risks or portions of risks that are subject to the fee under division (A)(1)(a) of this section.(C) A captive insurance company shall not pay any reinsurance fee pursuant to division (A)(1)(b) of this section on revenue related to the receipt of assets by the captive insurance company in exchange for the assumption of loss reserves and other liabilities of another insurance company that is under common ownership and control with the captive insurance company, if the transaction is part of a plan to discontinue the operation of the other insurance company and the intent of the exchange is to renew or maintain such business with the captive insurance company.(D)(1) The fee imposed in division (A) of this section shall be calculated on an annual basis, notwithstanding policies, contracts, insurance, or contracts of reinsurance issued on a multi-year basis.(2) In the case of multi-year policies or contracts, the premium shall be prorated for purposes of determining the fee required under division (A) of this section.(E) All fees collected under this section shall be deposited into the state treasury to the credit of the captive insurance regulation and supervision fund.
Ohio Rev Code § 3964.14 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|Section 3964.14 | Applicable Law.

Effective: September 17, 2014|Latest Legislation:  House Bill 117 - 130th General Assembly|(A) Except as provided in this chapter, captive insurance companies shall be governed by this chapter and are exempt from all other provisions of the insurance laws of this state. No insurance law of this state shall apply to captive insurance companies unless captive insurance companies are expressly designated as being subject to the law or, with respect to a line of authority granted to a captive insurance company pursuant to division (A)(10) of section 3964.02 of the Revised Code, as required in the articles, bylaws, code of regulations, or other organizational documents as approved by the superintendent. (B) Except as otherwise provided in this chapter, sections 3903.01 to 3903.59 of the Revised Code shall apply to captive insurance companies.
Ohio Rev Code § 3964.15 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|Section 3964.15 | Captive Insurance Regulation and Supervision Fund.

Effective: September 17, 2014|Latest Legislation:  House Bill 117 - 130th General Assembly|(A) There is hereby created in the state treasury the captive insurance regulation and supervision fund, which shall consist of all fees, fines, penalties, and assessments received by the superintendent under this chapter. (B) The superintendent may charge captive insurance companies for any of the following expenses incurred in carrying out this chapter:(1) The entire compensation for each day, or portion thereof, worked by all personnel, including those who are not employees of the department of insurance, in any of the following capacities:(a) The conduct of an examination, calculated at the rates provided in the financial condition examiners' handbook published by the national association of insurance commissioners;(b) The review and analysis of a company's annual report submitted pursuant to section 3964.07 of the Revised Code, and any interim financial statements and examination reports or related documents of captive insurance companies in this state;(c) The ongoing evaluation and monitoring of the financial affairs of captive insurance companies;(d) The determination and review of the premium franchise fee liability of a captive insurance company;(e) The training and continuing education costs of examiners and analysts.(2) Travel and living expenses of all personnel, including those who are not employees of the department of insurance, directly engaged in the conduct of an examination calculated at rates not to exceed the rates provided in the financial condition examiners' handbook published by the national association of insurance commissioners;(3) All other incidental expenses incurred by or on behalf of such personnel in the conduct of such examination;(4) An allocated share of all expenses not described in division (B)(1), (2), or (3) of this section, but that are necessarily incurred in carrying out the duties of the superintendent under this chapter, including the expenses of direct overhead and support staff for the examiners and persons appointed or employed pursuant to section 3964.08 of the Revised Code.(C) All amounts collected by the superintendent under division (B) of this section shall be deposited into the state treasury to the credit of the captive insurance regulation and supervision fund.(D) At the discretion of the superintendent, the expenses of the captive insurance regulation and supervision fund may be covered by the department of insurance operating fund created under section 3901.021 of the Revised Code.(E) As used in this section, "examination" means the examination required under section 3964.08 of the Revised Code.
Ohio Rev Code § 3964.171 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|Section 3964.171 | Shares.

Effective: September 17, 2014|Latest Legislation:  House Bill 117 - 130th General Assembly|(A) A protected cell captive insurance company may create and issue shares in one or more classes for one or more protected cells. (1) The proceeds of the issue of shares for a specific protected cell shall be included in the assets of that protected cell.(2) The proceeds of the issue of shares that are not for a specific protected cell shall be included in the protected cell captive insurance company's general assets.(B) A protected cell captive insurance company may pay a dividend on protected cell or protected cell captive insurance company shares of any class, regardless of whether a dividend is declared on any other class of shares of a protected cell or any other shares of the protected cell captive insurance company. Such payment is subject to section 3964.06 of the Revised Code.(C) Dividends may be paid on protected cell shares only from the cell assets of the protected cell that issued the shares and must otherwise be made in accordance with the rights of such shares and in accordance with section 3964.06 of the Revised Code.
Ohio Rev Code § 3964.172 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|Section 3964.172 | Transfer of Assets.

Effective: September 17, 2014|Latest Legislation:  House Bill 117 - 130th General Assembly|(A) No sale, exchange, or other transfer of assets may be made by a protected cell captive insurance company between or among any of its protected cells without the written consent of the participants of the protected cell and the superintendent. (B)(1) No sale, exchange, transfer of assets, or distribution may be made from a protected cell to any person without the superintendent's prior written approval.(2) The superintendent shall not give approval if the sale, exchange, transfer, or distribution would result in the insolvency or impairment of the protected cell in question.
Ohio Rev Code § 3964.173 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|Section 3964.173 | Status of Owners and Participants.

Effective: September 17, 2014|Latest Legislation:  House Bill 117 - 130th General Assembly|(A) The owners of a protected cell captive insurance company, shall not, by virtue of being owners of the protected cell captive insurance company, be the owners or participants of any protected cell of the protected cell captive insurance company. (B) The participants of a protected cell shall not, by virtue of being such participants, be the owners of the protected cell captive insurance company or participants or owners of any other protected cell of the protected cell captive insurance company.(C) No participant contract shall take effect without the superintendent's prior written approval.(D) The addition of a new protected cell, or the withdrawal or other transfer of any participant from any existing protected cell, shall constitute a change in the strategic business plan of that protected cell captive insurance company, requiring the superintendent's prior written approval.(E) A protected cell captive insurance company shall, in addition to keeping a register of its owners or participants, keep a register of the participants of each of its protected cells.
Ohio Rev Code § 3964.175 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|Section 3964.175 | Liability for Penalty.

Effective: September 17, 2014|Latest Legislation:  House Bill 117 - 130th General Assembly|If a protected cell captive insurance company is liable for any penalty, under this chapter or otherwise, due to an act or the failure to act of a protected cell or an officer or director of a protected cell, then both of the following apply: (A) The penalty shall only be met by the protected cell captive insurance company from the cell assets of the protected cell responsible.(B) The penalty shall not be enforceable in any way against any other assets of the protected cell captive insurance company or assets of any other protected cell.
Ohio Rev Code § 3964.176 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|Section 3964.176 | Duties of Directors.

Effective: September 17, 2014|Latest Legislation:  House Bill 117 - 130th General Assembly|The directors of a protected cell captive insurance company shall establish and maintain, or cause to be established and maintained, procedures to do all of the following: (A) Segregate cell assets and liabilities separate and separately identifiable from general assets and liabilities;(B) Segregate cell assets and liabilities of each protected cell separate and separately identifiable from cell assets and liabilities of any other protected cell;(C) Apportion or transfer, where relevant, assets and liabilities between protected cells or between protected cells and the general assets and liabilities of the protected cell captive insurance company.
Ohio Rev Code § 3964.178 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|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 both of the following:(1) Holders of two-thirds of the outstanding shares or ownership interests of the captive insurance company, unless a greater amount is required by the organizational document of the captive insurance company;(2) All the creditors of the captive insurance company.(C) Notwithstanding division (B)(2) of this section, if the consent of all the creditors of the captive insurance company cannot be obtained, the amendment may be approved by the superintendent if the superintendent is satisfied that no creditor will be materially prejudiced by the amendment.(D) A protected cell captive insurance company may amend its organizational document to cease to be a protected cell captive insurance company.(E) The amendment of an organizational document of a protected cell captive insurance company to cease to be a protected cell captive insurance company shall require approval by all of the following:(1) The superintendent;(2) Holders of two-thirds of the outstanding shares or ownership interests of the protected cell captive insurance company, unless a greater amount is required by the organizational document of the protected cell captive insurance company;(3) Two-thirds of the participants of each protected cell;(4) All the creditors of the protected cell captive insurance company and its protected cells.(F) Notwithstanding division (E)(4) of this section, if the consent of all the creditors of the captive insurance company and its protected cells cannot be obtained, the amendment may be approved by the superintendent upon being satisfied that no creditor will be materially prejudiced by the amendment.(G)(1) If a captive insurance company or protected cell captive insurance company seeks to change its status in accordance with this section, the captive insurance company or protected cell captive insurance company shall deliver both of the following to the superintendent:(a) A copy of the amendment to its name;(b) Evidence satisfactory to the superintendent that the requirements of division (B) or (E) of this section have been met.(2) If the documents required under division (G)(1) of this section are provided, the superintendent shall issue a license that is appropriate to the amended status of the company.(H) If a company changes its status in accordance with this section, the change of status shall take effect when the superintendent issues a new license.
Ohio Rev Code § 3964.1710 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|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 the superintendent. (B)(1) A protected cell of a protected cell captive insurance company may apply to the superintendent to be incorporated as an insurance company, including a captive insurance company subject to the requirements of this chapter, independent from the protected cell captive insurance company of which it is currently a part.(2) If a protected cell is licensed as an independent insurance company, then all of the following apply:(a) All property and rights to which the protected cell was entitled immediately before its licensure as a new entity shall remain the property and rights of the new entity.(b) The protected cell shall remain subject to all criminal and civil liabilities and all contracts, debts, and other obligations to which the protected cell was subject immediately before its licensure as a new entity.(c) All contracts, debts, and other obligations of the protected cell shall remain the contracts, debts, and other obligations of the new entity.(d) All actions and other legal proceedings that, immediately before the licensure of the protected cell as a new entity, were pending by or against the protected cell may be continued by or against the new entity.(C) An application made under division (B) of this section shall be approved by two-thirds of the participants of the protected cell or, if the protected cell has more than one class of participants, two-thirds of each class of participant, unless the organizational document of the protected cell requires a greater percentage.(D)(1) If a protected cell makes an application under division (B) of this section, any participant of the protected cell who objects to the protected cell being incorporated as an independent insurance company may petition the superintendent for an order denying the application on the grounds that the incorporation, or the terms of the incorporation, unfairly prejudice the interests of the participant.(2) Such a petition shall be made within thirty days after an application has been made under division (B) of this section.(E) The operation of division (B)(2) of this section shall not be regarded as any of the following:(1) A breach of contract;(2) A breach of any contractual provision prohibiting, restricting, or regulating the assignment or transfer of rights or liabilities;(3) Giving rise to any remedy by a party to a contract or other instrument as an event of default under the contract or other instrument or as causing or permitting the termination of any contract, other instrument, obligation, or relationship.
Ohio Rev Code § 3964.193 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3964 | Captive Insurance Companies|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 disclosed by the superintendent or any employee of the department of insurance without the written consent of the company. (B) Such documents and information may be discoverable in a civil action in which the company filing the material is a party upon a finding by a court of competent jurisdiction that the information sought is relevant and necessary to the case, and the information sought is unavailable from other, nonconfidential sources.(C) The superintendent may, at the superintendent's sole discretion, share documents that are the subject of this section with the chief deputy rehabilitator, the chief deputy liquidator, other deputy rehabilitators and liquidators, and any other person employed by, or acting on behalf of, the superintendent pursuant to Chapter 3901. or 3903. of the Revised Code, with other local, state, federal, and international regulatory and law enforcement agencies, with local, state, and federal prosecutors, and with the national association of insurance commissioners and its affiliates and subsidiaries provided that the recipient agrees to maintain the confidential or privileged status of the confidential or privileged work paper and has authority to do so.