reglab/housing_qa huggingface dataset:
Ohio Rev Code § 3903.55 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.55 | Foreign Claimants.

Effective: March 7, 1983|Latest Legislation:  House Bill 830 - 114th General Assembly|(A) In a liquidation proceeding begun in this state against an insurer domiciled in this state, claimants residing in foreign countries or in states not reciprocal states must file claims in this state, and claimants residing in reciprocal states may file claims either with the ancillary receivers, if any, in their respective states, or with the domiciliary liquidator. Claims must be filed on or before the last date fixed for the filing of claims in the domiciliary liquidation proceeding.(B) Claims belonging to claimants residing in reciprocal states may be proved either in the liquidation proceeding in this state as provided in sections 3903.01 to 3903.59 of the Revised Code, or in ancillary proceedings, if any, in the reciprocal states. If notice of the claims and opportunity to appear and be heard is afforded the domiciliary liquidator of this state as provided in division (B) of section 3903.56 of the Revised Code with respect to ancillary proceedings, the final allowance of claims by the courts in ancillary proceedings in reciprocal states shall be conclusive as to amount and as to priority against special deposits or other security located in such ancillary states, but shall not be conclusive with respect to priorities against assets under section 3903.42 of the Revised Code.
Ohio Rev Code § 3903.56 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.56 | Ohio Residents Claiming Against Foreign Insurers.

Effective: January 1, 2021|Latest Legislation:  House Bill 339 - 133rd General Assembly|(A) In a liquidation proceeding in a reciprocal state against an insurer domiciled in that state, claimants against the insurer who reside within this state may file claims either with the ancillary receiver, if any, in this state, or with the domiciliary liquidator. Claims must be filed on or before the last dates fixed for the filing of claims in the domiciliary liquidation proceeding. (B) Claims belonging to claimants residing in this state may be proved either in the domiciliary state under the law of that state, or in ancillary proceedings, if any, in this state. If a claimant elects to prove the claimant's claim in this state, the claimant shall file the claim with the liquidator in the manner provided in sections 3903.35 and 3903.36 of the Revised Code. The ancillary receiver shall make a recommendation to the court as under section 3903.43 of the Revised Code. The ancillary receiver shall also arrange a date for hearing if necessary under section 3903.39 of the Revised Code and shall give notice to the liquidator in the domiciliary state, either by certified mail or by personal service at least forty days prior to the date set for hearing. If the domiciliary liquidator, within thirty days after the giving of such notice, gives notice in writing to the ancillary receiver and to the claimant, either by certified mail or by personal service, of the domiciliary liquidator's intention to contest the claim, the domiciliary liquidator shall be entitled to appear or to be represented in any proceeding in this state involving the adjudication of the claim. (C) The final allowance of the claim by the courts of this state shall be accepted as conclusive as to amount and as to priority against special deposits or other security located in this state.
Ohio Rev Code § 3903.57 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.57 | Attachment, Garnishment or Execution Proceedings Blocked.

Effective: March 7, 1983|Latest Legislation:  House Bill 830 - 114th General Assembly|During the pendency in this or any other state of a liquidation proceeding, whether called by that name or not, no action or proceeding in the nature of an attachment, garnishment, or levy of execution shall be commenced or maintained in this state against the delinquent insurer or its assets.
Ohio Rev Code § 3903.58 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.58 | Distribution Order Among Claimants From Reciprocal States.

Effective: March 7, 1983|Latest Legislation:  House Bill 830 - 114th General Assembly|(A) In a liquidation proceeding in this state involving one or more reciprocal states, the order of distribution of the domiciliary state shall control as to all claims of residents of this and reciprocal states. All claims of residents of reciprocal states shall be given equal priority of payment from assets regardless of where such assets are located.(B) The owners of special deposit claims against an insurer for which a liquidator is appointed in this or any other state shall be given priority against the special deposits in accordance with the statutes governing the creation and maintenance of the deposits. If there is a deficiency in any deposit, so that the claims secured by it are not fully discharged from it, the claimants may share in the assets, but the sharing shall be deferred until general creditors, and also claimants against other special deposits who have received smaller percentages from their respective special deposits, have been paid percentages of their claims equal to the percentage paid from the special deposit.(C) The owner of a secured claim against an insurer for which a liquidator has been appointed in this or any other state may surrender his security and file his claim as a general creditor, or the claim may be discharged by resort to the security in accordance with section 3903.41 of the Revised Code, in which case the deficiency, if any, shall be treated as a claim against the assets of the insurer on the same basis as claims of unsecured creditors.
Ohio Rev Code § 3903.59 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.59 | Failure to Transfer Assets to Ohio Liquidator by Ancillary Receiver.

Effective: December 4, 1995|Latest Legislation:  House Bill 374 - 121st General Assembly|If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in this state any assets within the ancillary receiver's control other than special deposits, diminished only by the expenses of the ancillary receivership, if any, the claims filed in the ancillary receivership, other than special deposit claims or secured claims shall be placed in the class of claims under division (H) of section 3903.42 of the Revised Code.
Ohio Rev Code § 3903.71 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.71 | Unsound Company, Suspension of Authority to Do Business.

Effective: January 1, 2021|Latest Legislation:  House Bill 339 - 133rd General Assembly|If it appears to the superintendent of insurance upon satisfactory evidence that the affairs of an insurance company, partnership, association, or reciprocal insurance exchange, not organized under the laws of this state, are such that any of the following conditions exist, the superintendent shall suspend the authority granted to such company to do business in this state: (A) It cannot meet the current applicable requirements for incorporation and commencement of the business of insurance in this state; (B) It has commenced, or has attempted to commence, any voluntary liquidation or dissolution proceeding, or any proceeding to procure the appointment of a receiver, liquidator, rehabilitor, sequestrator, conservator, or similar officer for itself; (C) It is the subject of liquidation or dissolution proceedings undertaken by another state, or any other proceeding undertaken by another state to procure the appointment of a receiver, liquidator, rehabilitor, sequestrator, conservator, or similar officer; (D) Its ratio of premium writings to surplus and capital are unreasonable as determined by the superintendent of insurance; (E) Its further transaction of business would be hazardous to its policyholders, contract holders, or the public as shown by the following conduct, but not necessarily limited to only the following: (1) Its investments are made so as to make unavailable within a reasonable time sufficient moneys to meet promptly any demand which might in the ordinary course of business be properly made against it; (2) Any of its officers or directors have embezzled, sequestered, or wrongfully diverted any of its assets; (3) It has willfully violated its charter or any law of this state. If no demand for a hearing is made by the suspended company within thirty days after suspension, such suspension shall become a revocation of the authority to transact the business of insurance in this state. Any such hearing shall be held in compliance with sections 119.01 to 119.13 of the Revised Code. If during such hearing, satisfactory evidence of any of the enumerated conditions of this section is found to exist, the superintendent shall revoke the authority to transact the business of insurance in this state.
Ohio Rev Code § 3903.721 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.721 | Valuation of Reserves.

Effective: September 4, 2014|Latest Legislation:  Senate Bill 140 - 130th General Assembly|(A)(1) The superintendent shall annually value, or cause to be valued, the reserve liabilities, referred to as reserves, for all outstanding life insurance policies and annuity and pure endowment contracts of every life insurance company doing business in this state issued prior to the operative date of the valuation manual. In calculating reserves, the superintendent may use group methods and approximate averages for fractions of a year or otherwise. The valuation of the reserves of a company organized under the laws of a foreign government shall be limited to its United States business.In lieu of the valuation of the reserves required of a foreign or alien company, the superintendent may accept a valuation made, or caused to be made, by the insurance supervisory official of any state or other jurisdiction when the valuation complies with the minimum standard provided in sections 3903.72 to 3903.7211 of the Revised Code.(2) The provisions set forth in sections 3903.723, 3903.724, 3903.725, and 3903.727 of the Revised Code shall apply to all policies and contracts, as appropriate, issued on or after January 1, 1989, and prior to the operative date of the valuation manual. The provisions set forth in sections 3903.726, 3903.728, and 3903.729 of the Revised Code shall not apply to any such policies and contracts.(3) The minimum standard for the valuation of policies and contracts issued prior to January 1, 1989, shall be that provided by the laws in effect immediately prior to that date.(B)(1) For all outstanding life insurance contracts, annuity and pure endowment contracts, deposit-type contracts, and accident and health contracts of every company issued on or after the operative date of the valuation manual, the superintendent shall annually value, or cause to be valued, the reserve liabilities for such contracts according to sections 3903.727, 3903.728, and 3903.729 of the Revised Code. The valuation of the reserves of a company organized under the laws of a foreign government shall be limited to its United States business.In lieu of the valuation of the reserves required of a foreign or alien company, the superintendent may accept a valuation made, or caused to be made, by the insurance supervisory official of any state or other jurisdiction when the valuation complies with the minimum standard provided in sections 3903.72 to 3903.7211 of the Revised Code.(2) The provisions set forth in sections 3903.728 and 3903.729 of the Revised Code shall apply to all policies and contracts issued on or after the operative date of the valuation manual.
Ohio Rev Code § 3903.725 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.725 | Valuation for Individual Annuity and Pure Endowment Contracts.

Effective: September 4, 2014|Latest Legislation:  Senate Bill 140 - 130th General Assembly|For individual annuity and pure endowment contracts issued on or after January 1, 1989, and for annuities and pure endowments purchased on or after January 1, 1989, under group annuity and pure endowment contracts, the minimum standard of valuation shall be the commissioners reserve valuation methods defined in divisions (I), (J), (K), and (L) of section 3903.723 of the Revised Code, interest rates defined in section 3903.724 of the Revised Code, and the following tables: (A) For individual single premium immediate annuity contracts issued on or after January 1, 1989, excluding any disability and accidental death benefits in those contracts, the 1971 individual annuity mortality table or any individual annuity mortality table adopted after 1980 by the national association of insurance commissioners that is approved in rules adopted by the superintendent for use in determining the minimum standard of valuation for these contracts, or any modification of these tables approved by the superintendent;(B) For individual annuity and pure endowment contracts issued on or after January 1, 1989, other than single premium immediate annuity contracts, excluding any disability and accidental death benefits in those contracts, the 1971 individual annuity mortality table or any individual annuity mortality table adopted after 1980 by the national association of insurance commissioners that is adopted in rules by the superintendent for use in determining the minimum standard of valuation for those contracts, or any modification of these tables approved by the superintendent;(C) For annuities and pure endowments purchased on or after January 1, 1989, under group annuity and pure endowment contracts, excluding any disability and accidental death benefits purchased under those contracts, the 1971 group annuity mortality table, or any group annuity mortality table adopted after 1980 by the national association of insurance commissioners that is approved in rules adopted by the superintendent for use in determining the minimum standard of valuation for annuities and pure endowments, or any modification of these tables approved by the superintendent.
Ohio Rev Code § 3903.727 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.727 | Valuation for Accident and Health Insurance Contracts.

Effective: September 4, 2014|Latest Legislation:  Senate Bill 140 - 130th General Assembly|For accident and health insurance contracts issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is the minimum standard of valuation required under division (B) of section 3903.721 of the Revised Code. For disability, accident and sickness, accident and health insurance contracts issued on or after January 1, 1989, and prior to the operative date of the valuation manual, the minimum standard of valuation is the standard adopted in rules by the superintendent.
Ohio Rev Code § 3903.729 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.729 | Established Reserves; Principle-Based Valuation.

Effective: September 4, 2014|Latest Legislation:  Senate Bill 140 - 130th General Assembly|(A) A company shall establish reserves using a principle-based valuation that meets the following conditions for policies or contracts as specified in the valuation manual: (1) The principle-based valuation shall quantify the benefits and guarantees, and the funding, associated with the contracts and their risks at a level of conservatism that reflects conditions that include unfavorable events that have a reasonable probability of occurring during the lifetime of the contracts.(2) The principle-based valuation shall reflect conditions, for policies or contracts with significant tail risk, appropriately adverse to quantify the tail risk.(3) The principle-based valuation shall incorporate assumptions, risk analysis methods, and financial models and management techniques that are consistent with, but not necessarily identical to, those utilized within the company's overall risk assessment process, while recognizing potential differences in financial reporting structures and any prescribed assumptions or methods.(4) The principle-based valuation shall incorporate assumptions that are derived in one of the following manners:(a) The assumption is prescribed in the valuation manual.(b) For assumptions that are not prescribed, the assumptions shall:(i) Be established utilizing the company's available experience, to the extent it is relevant and statistically credible;(ii) To the extent company data is not available, relevant, or statistically credible, be established utilizing other relevant statistically credible experience.(5) The principle-based valuation shall provide margins for uncertainty including adverse deviation and estimation error, such that the greater the uncertainty the larger the margin and resulting reserve.(B) A company using a principle-based valuation for one or more policies or contracts subject to this section as specified in the valuation manual shall do all of the following:(1) Establish procedures for corporate governance and oversight of the actuarial valuation function consistent with those described in the valuation manual;(2) Provide to the superintendent and the company's board of directors an annual certification of the effectiveness of the internal controls with respect to the principle-based valuation. Such controls shall be designed to assure that all material risks inherent in the liabilities and associated assets subject to such valuation are included in the valuation, and that valuations are made in accordance with the valuation manual. The certification shall be based on the controls in place as of the end of the preceding calendar year.(3) Develop, and file with the superintendent upon request, a principle-based valuation report that complies with standards prescribed in the valuation manual.
Ohio Rev Code § 3903.7210 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.7210 | Submission of Prescribed Data.

Effective: September 4, 2014|Latest Legislation:  Senate Bill 140 - 130th General Assembly|A company shall submit mortality, morbidity, policyholder behavior, or expense experience and other data as prescribed in the valuation manual for policies it has issued that are in force on or after the operative date of the valuation manual.
Ohio Rev Code § 3903.73 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.73 | Deposit of Securities With Treasurer of State.

Effective: March 7, 1983|Latest Legislation:  House Bill 830 - 114th General Assembly|All securities deposited with the superintendent of insurance shall be deposited by him with the treasurer of state, and the treasurer of state shall not deliver such securities or coupons attached thereto, except upon the written order of the superintendent. No security shall be accepted for deposit by the superintendent unless it is of par value and market value of one thousand dollars or more.
Ohio Rev Code § 3903.74 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.74 | Sale and Distribution of Securities of Defaulting Companies.

Effective: January 1, 2021|Latest Legislation:  House Bill 339 - 133rd General Assembly|If any company, corporation, or association required by law to make a deposit with the superintendent of insurance, or other state officer, to secure the contracts of such company, corporation, or association, or for any other purpose, fails to pay any of its liabilities upon such contracts, or other obligations, according to the terms thereof after the liability thereon has been determined, or if such company, corporation, or association, having ceased to do business within this state, leaves unpaid any such liability or has become insolvent, the attorney general, on behalf of the superintendent, or such other officer, and upon the application of any person entitled to participate in such deposit, or the proceeds arising therefrom, shall commence a civil action in the court of common pleas of Franklin county, making the company, corporation, or association a party defendant, to determine the rights of all parties claiming any interest in such deposit, to subject the deposit to the payment or satisfaction of all liabilities, and to distribute such fund among the persons entitled thereto.
Ohio Rev Code § 3903.75 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.75 | Notice to Claimants.

Effective: March 7, 1983|Latest Legislation:  House Bill 830 - 114th General Assembly|Upon the filing of the petition authorized by section 3903.74 of the Revised Code, the superintendent of insurance, or other officer, shall publish for six consecutive weeks in three papers of general circulation within the state, one of which is published at the seat of government, a notice containing a succinct statement of the object and prayer of the petition in such action, and the time within which persons claiming to have an interest in such fund are required to answer.
Ohio Rev Code § 3903.76 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation|Section 3903.76 | Court Procedure.

Effective: March 7, 1983|Latest Legislation:  House Bill 830 - 114th General Assembly|The clerk of the court of common pleas of Franklin county shall forward a copy of the notice required by section 3903.75 of the Revised Code to the last known address of such company, corporation, or association. The Civil Rules shall govern such proceedings, and, upon the hearing of the cause, such order, judgment, or decree shall be entered by the court of common pleas of Franklin county as is just and equitable.