reglab/statecodes huggingface dataset:
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.3210 | Duties of Council.

Effective:
September 22, 2000
Latest Legislation:
House Bill 510 - 123rd General Assembly
(A) The credit union council shall do all of the following:
(1) Consult with, advise, and make recommendations to the superintendent of financial institutions and the deputy superintendent for credit unions on matters relating to the business for credit unions, including field of membership, regulation, examination, safety and soundness, and applications of credit unions under this chapter;
(2) Consider and make recommendations upon any matter addressed in Chapters 1733. and 1761. of the Revised Code that the superintendent or deputy superintendent submits to the council for that purpose;
(3) Pass upon and determine any matter the superintendent or deputy superintendent submits to the council for determination;
(4) Submit to the governor recommendations concerning amendments to the credit union laws of this state or rules adopted pursuant to those laws that the council considers appropriate;
(5) Consider and determine whether to confirm the supervisory fees proposed by the superintendent of financial institutions in accordance with division (E) of section 1733.32 of the Revised Code.
(6) With respect to the adoption, amendment, or recission of rules adopted pursuant to this chapter, be present at the public hearing required by section 119.03 of the Revised Code and provide recommendations, advice, or assistance at the public hearing.
(B) Neither the deputy superintendent, nor any other member of the council, shall be liable, in any civil or criminal action or proceeding, for any mistake of judgment or discretion in any action taken, or in any omission made, in good faith by the deputy superintendent or other member.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.33 | Amendments to Articles or Regulations.

Effective:
April 14, 2006
Latest Legislation:
House Bill 81 - 126th General Assembly
(A) The voting members may adopt amendments to the articles or regulations or amended articles or regulations in a writing as provided in section 1733.11 of the Revised Code or in a meeting of members called for that expressly stated purpose by a vote of two-thirds of the voting members represented at such meeting; or, if the articles or regulations provide or permit, by the affirmative vote of a greater or lesser proportion, but not less than a majority of the voting members represented at such meeting. The board of directors may, at any duly held meeting, adopt amendments to the field of membership article or to the regulations, by an affirmative vote of two-thirds of the number of directors authorized by the articles or regulations.
(B) The directors may adopt the following amendments to the articles:
(1) Unless otherwise provided in the articles, an amendment changing the name of the corporation;
(2) An amendment changing the place in this state where the principal office of the credit union is located;
(3) An amendment changing the authorized number of shares; the express terms, if any, of the shares; and if the shares are classified, as permitted in section 1733.24 of the Revised Code, the designation of each class, their express terms, and par value, of any, per share.
(C) In the event amendments to the articles or regulations or amended articles or regulations are adopted pursuant to section 1733.11 of the Revised Code, a copy of the proposed amendments or proposed amended articles or regulations shall be distributed to all of the voting members at or prior to the date on which solicitation begins for written approval. In the event the amendments or amended articles or regulations are adopted in a meeting of members, copies of the proposed amendments or amended articles or regulations, as the case may be, shall be distributed to voting members upon request.
(D) Amendments to the articles or regulations or the amended articles or regulations shall include only such provisions as may be included in or omitted from original articles or the amended articles or regulations at the time the amendments or amended articles or regulations are adopted.
(E) Amended articles or regulations shall contain a statement that they supersede the existing articles or regulations, as the case may be.
(F) Any amendment or amended articles or regulations shall become effective only when it or they have been approved by the superintendent in the same manner as required for original articles or regulations under section 1733.07 of the Revised Code. Amendments to the articles or amended articles shall become effective upon the filing of the same with the secretary of state.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.34 | Merger of Credit Unions.

Effective:
September 11, 2008
Latest Legislation:
Senate Bill 247 - 127th General Assembly
(A) Any credit union may, with the approval of the superintendent of credit unions, merge with any other credit union under the existing charter of the other credit union, pursuant to any plan approved by the board of directors of each credit union joining in the merger, and approved by a majority of the members of each credit union represented at a meeting of members in person, by ballot, or by proxy, duly called for such purpose, at which a quorum of the entire membership is present, unless such meeting of members of either credit union has been waived by the superintendent. The superintendent may waive the members' vote if it is in the interest of the members, credit union, or for any other reason the superintendent deems proper. After such approval of the board and members of each credit union, the president or chairperson of the board and secretary of each credit union shall execute a certificate of merger, which shall set forth all of the following:
(1) The time and place of the meeting of the board of directors at which the plan was agreed upon;
(2) The vote in favor of adoption of the plan;
(3) A copy of the resolution or other action by which the plan was agreed upon;
(4) The time and place of the meeting of the members at which the plan agreed upon was approved;
(5) The vote by which the plan was approved by the members.
(B) Such certificates and a copy of the plan of merger agreed upon shall be forwarded to the superintendent and, upon approval, returned to the merging credit unions.
(C) Upon any such merger so effected, all property, property rights, and interests of the merged credit unions shall vest in the surviving credit union without deed, endorsement, or other instrument of transfer, and all debts, obligations, and liabilities of the merged credit unions shall be deemed to have been assumed by the surviving credit union under whose charter the merger was effected.
(D) This section shall be construed, whenever possible, to permit a credit union chartered under any other act to merge with one chartered under this act.
(E) All persons and associations eligible for membership, as provided in section 1733.05 of the Revised Code, of both credit unions effecting a merger shall be deemed to have a common bond of association.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.341 | Conversions.

Effective:
September 29, 1994
Latest Legislation:
House Bill 695 - 120th General Assembly
Any credit union operating under this chapter may convert to a federally chartered credit union and any federally chartered credit union operating in this state may convert to a credit union organized under this chapter upon compliance with applicable state and federal laws, rules, and regulations.
Any production credit association organized under the "Farm Credit Act of 1971," 85 Stat. 583, 12 U.S.C.A. 2091 to 2097, may convert to a credit union organized under this chapter upon compliance with applicable state and federal laws and regulations and with the approval of the superintendent of credit unions.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.35 | Dissolution.

Effective:
January 1, 1979
Latest Legislation:
House Bill 356 - 112th General Assembly
A majority of the entire membership may vote to dissolve the credit union at a regular or special meeting called for that expressly stated purpose. Any member, within twenty days of the date of the mailing of notice of such meeting, may vote on the question of dissolution by signing a statement in form approved by the superintendent of credit unions, and such vote shall have the same force and effect as any other vote. The credit union shall thereupon immediately cease to do all business except for the purpose of liquidation, and the president and secretary shall, within fifteen days following such meeting, notify the superintendent in writing of its intention to liquidate, and shall include in such notice a list of the names of directors and officers of the credit union together with their addresses.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.38 | Qualification of Foreign Credit Union.

Effective:
April 14, 2006
Latest Legislation:
House Bill 81 - 126th General Assembly
A credit union organized and duly qualified as a credit union in another state or territory may qualify to do business as a credit union in this state provided:
(A) Such credit union is organized under credit union law substantially similar to sections 1733.01 to 1733.45 of the Revised Code;
(B) The interest rate of such credit union on loans made to members in this state does not exceed the maximum interest rate permitted by sections 1733.01 to 1733.45 of the Revised Code;
(C) A credit union organized and doing business under the laws of this state is permitted to do business in such other state or territory under conditions substantially similar to the provisions of this section.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.39 | Requirements for Doing Business.

Effective:
March 20, 2019
Latest Legislation:
House Bill 489 - 132nd General Assembly
No credit union which is not organized under sections 1733.01 to 1733.45 of the Revised Code, or the "Federal Credit Union Act," 84 Stat. 994 (1970), 12 U.S.C. 1751, as amended, shall transact any business in this state until:
(A) It submits to the superintendent of credit unions an application for qualification in such form as shall be prescribed by the superintendent. Such application shall be accompanied by a copy of the articles of such credit union duly certified by, and under the seal of, the secretary of state, or other proper official, of the state under the laws of which the credit union was incorporated, which, when approved by the superintendent, shall be transmitted to the secretary of state for filing.
(B) It furnishes to the superintendent a copy of its rules duly certified by its president and secretary;
(C) It submits to the superintendent a filing fee of fifty dollars payable to the treasurer of state, which shall be credited to the division of credit unions fund; provided, that in no event shall the fees paid for qualification in this state by any credit union domiciled in another state be less than the fees required to be paid by a credit union domiciled in this state for qualification in the state of domicile of such other credit union;
(D) Obtains a license to transact business as a foreign credit union from the superintendent.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.41 | Additional Rules and Regulations.

Effective:
January 1, 1979
Latest Legislation:
House Bill 356 - 113th General Assembly
In addition to the specific authority given the superintendent of credit unions by other sections of this chapter, the superintendent may from time to time make, issue, amend, and rescind such rules and orders as he may consider necessary or appropriate to further the purposes of this chapter or to protect the public interest, including rules defining accounting, technical, trade, and other terms, whether or not used in this chapter, insofar as such rules do not contradict this chapter. Without limiting his power under this chapter, the superintendent may specify terms to be included in the articles or code of regulations of credit unions, requirements for notice of meetings of members, required and prohibited practices related to solicitation of proxies, limitations on credit unions' borrowing and lending practices, including loans to credit union employees, the form of and practices used in accounting for credit unions, including the form of financial statements and other records kept, the character of investments credit unions may make, and the operation of a credit union in dissolving or liquidating or petitioning for reorganization. The superintendent shall not prescribe uniform rules or provisions in regulations without due regard for the differences among credit unions. For the purpose of his rules, the superintendent may classify credit unions, persons, and matters within his jurisdiction and prescribed different requirements for different classes of credit unions, persons, or matters. Rules promulgated pursuant to this section shall be made subject to sections 119.01 to 119.13 of the Revised Code.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.411 | Adoption of Administrative Rules.

Effective:
July 14, 1987
Latest Legislation:
Senate Bill 149 - 117th General Assembly
The superintendent of credit unions, in accordance with Chapter 119. of the Revised Code and subject to section 1733.41 of the Revised Code, shall adopt the following rules:
(A) Rules regulating payments, by credit unions, to or on behalf of any business entity that employs, or that is owned or controlled by, a director or officer of the credit union;
(B) Rules prohibiting a credit union from paying or offering to pay compensation or any other remuneration to one of its members due solely to the member's status as a member. These rules shall not prohibit any member of a credit union from receiving dividends that have been properly declared, or from receiving compensation for services rendered to the credit union, so long as the compensation is reasonable in relation to the services rendered. The rules may, however, require the reporting of compensation received by members for services rendered.
(C) Rules prescribing accounting principles and practices that are to be observed and utilized by outside auditors in conducting audits under section 1733.19 of the Revised Code. The accounting principles and practices prescribed for outside auditors may exceed those otherwise prescribed in rules adopted under section 1733.41 of the Revised Code, but shall be generally in accordance with accepted accounting principles as defined by the American institute of certified public accountants.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.412 | Powers of Federal Credit Unions Granted to State Chartered Credit Unions.

Effective:
April 14, 2006
Latest Legislation:
House Bill 81 - 126th General Assembly
(A) Notwithstanding any provision in Chapter 1733. of the Revised Code, if a credit union operating in this state that is organized or chartered under this chapter or the laws of the United States possesses any right, power, privilege, or benefit by virtue of a statute, rule, policy, regulation, interpretation, or judicial decision, the superintendent of credit unions shall adopt a rule under section 111.15 of the Revised Code granting any credit union doing business under authority granted by the superintendent authority to exercise the respective right, power, privilege, or benefit.
(B) The rule adopted by the superintendent pursuant to the authority of this section becomes effective on the later of the following dates:
(1) The date the superintendent issues the rule;
(2) The date the statute, rule, policy, regulation, interpretation, or judicial decision on which the superintendent's rule is based becomes effective.
(C) If the rule adopted by the superintendent pursuant to this section is not enacted into law or adopted in accordance with Chapter 119. of the Revised Code within thirty months from its effective date, the rule shall thereupon no longer be of any force or effect; however, the superintendent may adopt the rule under section 111.15 of the Revised Code pursuant to this section for an additional thirty-month period.
(D) The superintendent, upon thirty days' written notice to state-chartered credit unions, may revoke any rule issued by virtue of the authority of this section.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.42 | Computing Time for Giving Notice.

Effective:
November 19, 1971
Latest Legislation:
Senate Bill 3 - 109th General Assembly
In computing the period of time for the giving of a notice required or permitted under sections 1733.01 to 1733.45, inclusive, of the Revised Code, or under the articles, regulations, or bylaws of a credit union, or a resolution of its shareholders or directors, the day on which the notice is given shall be excluded, and the day when the act for which notice is given is to be done shall be included, unless the instrument calling for the notice otherwise provides. If notice is permitted to be given by mail, the notice shall be deemed to have been given when deposited in the mail.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.43 | Exemption From Franchise Tax and Report.

Effective:
November 19, 1971
Latest Legislation:
Senate Bill 3 - 109th General Assembly
A credit union shall not be required to pay the annual tax imposed on domestic corporations for the privilege of exercising the corporate franchise, or to file the annual report on which such tax is computed.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.44 | Prohibition Against Use of Words Credit Union.

Effective:
April 14, 2006
Latest Legislation:
House Bill 81 - 126th General Assembly
(A) No person, partnership, association, or corporation, other than credit unions and associations of such credit unions, to which all credit unions in their respective jurisdictions are eligible, shall use any name or title containing the words "credit union" or represent themselves, in advertising or elsewhere, as conducting business as a credit union.
(B) Subject to all of the following, a credit union may adopt one or more trade names:
(1) The credit union shall give written notice of the proposed trade name to the superintendent of credit unions at least thirty days before using the trade name.
(2) The superintendent may deny a credit union the right to use a given trade name or terminate a credit union's right to use a trade name for any reason.
(3) A credit union may use a trade name or a name other than its official charter name in advertising or signage, so long as it uses its official charter name in communications with the division of financial institutions and for share certificates or certificates of deposit, signature cards, loan agreements, account statements, checks, drafts, and other legal documents.
(4) A trade name shall be registered with the secretary of state pursuant to the laws of this state and the registration shall be accompanied by any written documentation issued by the superintendent relating to the right to use, denial to use, or termination of a trade name.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.441 | False Advertising.

Effective:
March 20, 2019
Latest Legislation:
House Bill 489 - 132nd General Assembly
(A) Absent the express written permission of the credit union, no person shall use the name of a credit union in an advertisement, solicitation, promotional, or other material in a way that may mislead another person, or cause another person to be misled, into believing that the person issuing the advertisement, solicitation, promotional, or other material is associated or affiliated with the credit union.
(B)(1) Whoever violates division (A) of this section shall be subject to a civil penalty of up to ten thousand dollars for each day the violation is committed, repeated, or continued.
(2) A credit union injured by a violation of division (A) of this section may bring an action in law or equity for recovery of damages, a temporary restraining order, an injunction, or any other available remedy.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.45 | Applicability of General Corporation Laws.

Effective:
November 19, 1971
Latest Legislation:
Senate Bill 3 - 109th General Assembly
A credit union shall be created, organized, governed, and conducted and its directors and officers shall be chosen, in all respects in the same manner as provided in sections 1701.01 to 1701.99, inclusive, of the Revised Code, for corporations generally, insofar as such manner is not inconsistent with this chapter.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.47 | Criminal Records Check to Be Requested by Superintendent.

Effective:
January 1, 2013
Latest Legislation:
House Bill 487 - 129th General Assembly
Whenever the approval of the superintendent of credit unions is required under this chapter, or under an order or supervisory action issued or taken under this chapter, for a person to serve as an organizer, incorporator, director, or executive officer of a credit union, or to otherwise participate in the management of a credit union, the superintendent shall request the superintendent of the bureau of criminal identification and investigation, or a vendor approved by the bureau, to conduct a criminal records check based on the person's fingerprints in accordance with section 109.572 of the Revised Code. The superintendent of credit unions shall request that criminal record information from the federal bureau of investigation be obtained as part of the criminal records check. Any fee required under division (C)(3) of section 109.572 of the Revised Code shall be paid by the person who is the subject of the request.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.51 | Deposit of Moneys for Preneed Funeral or Cemetery Merchandise and Services Contract.

Effective:
July 6, 2009
Latest Legislation:
Senate Bill 196 - 127th General Assembly
A credit union may, subject to sections 1721.211 and 4717.31 to 4717.38 of the Revised Code, receive and hold on deposit moneys under a preneed funeral contract or preneed cemetery merchandise and services contract.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.53 | Bona Fide Errors.

Effective:
March 20, 2019
Latest Legislation:
House Bill 489 - 132nd General Assembly
(A) As used in this section, "bona fide error" means an unintentional clerical, calculation, computer malfunction or programming, or printing error.
(B) A credit union or regulated individual shall not be held civilly liable in any action brought under this chapter or Chapter 1309., 1317., or 1345. of the Revised Code, and shall not be subject to any sanction by the superintendent of financial institutions, if all of the following conditions are met:
(1) The credit union or individual shows by a preponderance of evidence that the compliance failure was not intentional and resulted from a bona fide error notwithstanding the maintenance of procedures reasonably adapted to avoid any such error.
(2) Within sixty days after discovering the error, and prior to the initiation of any action by the superintendent or the receipt of written notice of the error from the member, the credit union or individual notifies the superintendent and the member of the error and the manner in which the credit union or individual intends to make full restitution to the member.
(3) The credit union or individual promptly makes reasonable restitution to the member.
(C) If, in the event of a compliance failure, the credit union or regulated individual does not meet the conditions set forth in division (B) of this section, a member injured by the error has a cause of action to recover damages. Such an action may not, however, be maintained as a class action.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1733 | Credit Unions › Section 1733.99 | Penalty.

Effective:
July 14, 1987
Latest Legislation:
Senate Bill 149 - 117th General Assembly
(A) Whoever violates section 1733.44 of the Revised Code, or any order of the superintendent issued pursuant to this chapter, shall be guilty of a misdemeanor of the first degree.
(B) Whoever violates division (C) of section 1733.327 of the Revised Code is guilty of a misdemeanor of the first degree. A person who is convicted of violating such division is also subject to disciplinary action, including dismissal or removal from office.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1735 | Title Guarantee and Trust Companies › Section 1735.01 | Powers of a Title Guarantee and Trust Company.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
A title guarantee and trust company may prepare and furnish abstracts and certificates of title to real estate, and bonds, mortgages, and other securities; guarantee such titles, the validity and the due execution of such securities, and the performance of contracts incident thereto; make loans for itself or as agent or trustee for others, and guarantee the collection of interest and principal of such loans; take charge of, and sell, mortgage, rent, or otherwise dispose of, real estate for others; and perform all the duties of an agent relative to property deeded or otherwise entrusted to it.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1735 | Title Guarantee and Trust Companies › Section 1735.02 | Capital Required - Investment of Capital.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
No title guarantee and trust company shall do business until its capital stock amounts to at least one hundred thousand dollars fully paid up, and until it has complied with section 1735.03 of the Revised Code. Except as provided in such section, such capital shall be invested as the board of directors of such company prescribes.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1735 | Title Guarantee and Trust Companies › Section 1735.03 | Deposit With Treasurer of State.

Effective:
October 3, 2023
Latest Legislation:
House Bill 33 - 135th General Assembly
No title guarantee and trust company shall do business until it has deposited with the superintendent of insurance fifty thousand dollars, in securities permitted by sections 3925.05, 3925.06, and 3925.08 of the Revised Code. The superintendent shall hold such securities deposited with the treasurer of state as security for the faithful performance of all guarantees entered into and all trusts accepted by such company, but so long as it continues solvent the treasurer of state shall permit it to collect the interest of, or dividends or distributions on, its securities so deposited, and to withdraw any of such securities on depositing with the treasurer of state cash or other securities of the kind specified in this section so as to maintain the value of such deposit at fifty thousand dollars.
If such a company has made such deposits with the superintendent of insurance, it may request the treasurer of state to return to it securities held by the treasurer of state in such deposit in excess of the amount required, and the treasurer of state shall then surrender such excess to the company, taking proper receipts therefor.
Last updated September 6, 2023 at 2:38 PM
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1735 | Title Guarantee and Trust Companies › Section 1735.04 | Laws Governing Title Guarantee and Trust Companies.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
All companies doing the business of guaranteeing titles to real property shall comply with sections 1735.01 to 1735.04, inclusive, of the Revised Code.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1739 | Multiple Employer Welfare Arrangements › Section 1739.02 | Group Self-Insurance Program Under Multiple Employer Welfare Arrangement.

Effective:
September 29, 2015
Latest Legislation:
House Bill 64 - 131st General Assembly
(A) The following groups that have been organized and maintained in good faith for a continuous period of five years or more for purposes other than obtaining insurance may establish, maintain, or operate a group self-insurance program under a multiple employer welfare arrangement that is chartered and created in this state under sections 1739.01 to 1739.22 of the Revised Code:
(1) A chamber of commerce;
(2) A trade association;
(3) An industry association;
(4) A professional association;
(5) A voluntary employee beneficiary association that is exempt from taxation by the internal revenue service under section 501(c)(9) of the Internal Revenue Code of 1986, as amended;
(6) A business league that is exempt from taxation by the internal revenue service under section 501(c)(6) of the Internal Revenue Code of 1986, as amended;
(7) Any other association that the superintendent of insurance may define by rule.
(B) Except as provided in section 9.833 and sections 1739.01 to 1739.22 of the Revised Code, no multiple employer welfare arrangement or other entity by which two or more employers jointly participate in a common employee welfare benefit plan shall operate a group self-insurance program in this state after four months after April 9, 1993.
(C) Sections 1739.01 to 1739.22 of the Revised Code do not apply to any entity that establishes, maintains, or operates a fully insured program.
(D) No person shall establish, operate, or maintain a multiple employer welfare arrangement providing benefits through a group self-insurance program in this state unless the multiple employer welfare arrangement has a valid certificate of authority from the superintendent of insurance.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1739 | Multiple Employer Welfare Arrangements › Section 1739.04 | Application Procedure.

Effective:
April 9, 1993
Latest Legislation:
House Bill 689 - 119th General Assembly
(A) The superintendent of insurance shall examine the application made under section 1739.03 of the Revised Code to determine whether the multiple employer welfare arrangement will be able to comply with sections 1739.01 to 1739.22 of the Revised Code and any rules adopted pursuant to those sections. If the superintendent finds that the arrangement is capable of complying with such sections, he shall issue a certificate of authority authorizing the arrangement to operate in this state.
(B) The superintendent shall approve or disapprove an application for a certificate of authority within ninety days after his receipt of the application and all of the supporting information he has requested.
(C) The superintendent may refuse to issue or renew or may suspend or revoke the certificate of authority of any multiple employer welfare arrangement, if he finds that any of the following apply:
(1) The arrangement or its third-party administrator has failed, or will be unable, to comply with the applicable provisions of sections 1739.01 to 1739.22 of the Revised Code.
(2) The arrangement or its third-party administrator is, or will be, fraudulently operated, including misrepresentation by omission or otherwise.
(3) The arrangement or its third-party administrator is in such condition as to render further operations of the arrangement hazardous to the public interest or to the interest of the members and their employees.
(4) The arrangement is financially unable to meet its obligations and claims as they occur, or its third-party administrator is financially unable to meet its obligations.
(5) The arrangement or its third-party administrator has failed to file any report required under section 1739.09 of the Revised Code.
(D) If the superintendent refuses to issue or renew, or suspends or revokes a certificate of authority, he shall issue an order setting forth the reasons for refusal, suspension, or revocation and forward it to the multiple employer welfare arrangement. Any refusal, suspension, or revocation under this division does not affect the liability of the arrangement or its members for claims incurred prior to the date of the refusal, suspension, or revocation.
(E) Subject to the superintendent's review, any certificate of authority issued by the superintendent under this section shall be renewed annually, effective on the first day of January, upon payment by the multiple employer welfare arrangement of an annual fee of one thousand dollars. All fees collected under this division shall be paid into the state treasury to the credit of the department of insurance operating fund created under section 3901.021 of the Revised Code.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1739 | Multiple Employer Welfare Arrangements › Section 1739.05 | Minimum Enrollment.

Effective:
October 17, 2019
Latest Legislation:
House Bill 166 - 133rd General Assembly
(A) A multiple employer welfare arrangement that is created pursuant to sections 1739.01 to 1739.22 of the Revised Code and that operates a group self-insurance program may be established only if any of the following applies:
(1) The arrangement has and maintains a minimum enrollment of three hundred employees of two or more employers.
(2) The arrangement has and maintains a minimum enrollment of three hundred self-employed individuals.
(3) The arrangement has and maintains a minimum enrollment of three hundred employees or self-employed individuals in any combination of divisions (A)(1) and (2) of this section.
(B) A multiple employer welfare arrangement that is created pursuant to sections 1739.01 to 1739.22 of the Revised Code and that operates a group self-insurance program shall comply with all laws applicable to self-funded programs in this state, including sections 3901.04, 3901.041, 3901.19 to 3901.26, 3901.38, 3901.381 to 3901.3814, 3901.40, 3901.45, 3901.46, 3901.491, 3902.01 to 3902.14, 3923.041, 3923.24, 3923.282, 3923.30, 3923.301, 3923.38, 3923.581, 3923.602, 3923.63, 3923.80, 3923.84, 3923.85, 3923.851, 3923.86, 3923.87, 3923.89, 3923.90, 3924.031, 3924.032, and 3924.27 of the Revised Code.
(C) A multiple employer welfare arrangement created pursuant to sections 1739.01 to 1739.22 of the Revised Code shall solicit enrollments only through agents or solicitors licensed pursuant to Chapter 3905. of the Revised Code to sell or solicit sickness and accident insurance.
(D) A multiple employer welfare arrangement created pursuant to sections 1739.01 to 1739.22 of the Revised Code shall provide benefits only to individuals who are members, employees of members, or the dependents of members or employees, or are eligible for continuation of coverage under section 1751.53 or 3923.38 of the Revised Code or under Title X of the "Consolidated Omnibus Budget Reconciliation Act of 1985," 100 Stat. 227, 29 U.S.C.A. 1161, as amended.
(E) A multiple employer welfare arrangement created pursuant to sections 1739.01 to 1739.22 of the Revised Code is subject to, and shall comply with, sections 3903.81 to 3903.93 of the Revised Code in the same manner as other life or health insurers, as defined in section 3903.81 of the Revised Code.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1739 | Multiple Employer Welfare Arrangements › Section 1739.06 | Filing Information With Superintendent.

Effective:
April 9, 1993
Latest Legislation:
House Bill 689 - 119th General Assembly
(A) No certificate shall be furnished by any multiple employer welfare arrangement in connection with, or pursuant to any group self-insurance program, nor shall any endorsement, rider, or application that becomes or is designated to become a part of any certificate be used until all of the following have been filed by the arrangement with the superintendent of insurance:
(1) The form of the certificate, endorsement, rider, or application;
(2) The premium or rates, including the calculations, formulas, and supporting statistics used to establish the premium or rates;
(3) Actuarial certification of the premium or rates, or such other documentation that supports the premium or rates and that is acceptable to the superintendent;
(4) The classification of risks pertaining to the premium or rates.
(B) If the superintendent finds that any form of certificate, endorsement, rider, or application that has been filed with him under division (A) of this section contains any provision that is contrary to the law of this state, contains inconsistent provisions, or contains any question, provision, title, heading, backing, or other indication of its contents, that is ambiguous, misleading, or deceptive, or likely to mislead or deceive the member, certificate holder, or applicant, he shall give written notice of his finding to the multiple employer welfare arrangement that has filed the form, and thereafter no arrangement that has filed the form shall use the form in this state.
(C) After the expiration of thirty days from the filing of any form under division (A) of this section, or at any time after the superintendent has given written approval thereof, the superintendent may, after a hearing of which at least twenty days' written notice has been given to the multiple employer welfare arrangement issuing the form, withdraw approval on any ground stated in division (B) of this section. He shall effect disapproval by his written order, which shall state the ground for disapproval and the date, not less than thirty days after the hearing, when the withdrawal of approval shall become effective. After the date when the withdrawal of approval of any form becomes effective, the form shall not be used in this state.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1739 | Multiple Employer Welfare Arrangements › Section 1739.08 | Powers of Board of Trustees.

Effective:
April 9, 1993
Latest Legislation:
House Bill 689 - 119th General Assembly
(A) A multiple employer welfare arrangement created pursuant to sections 1739.01 to 1739.22 of the Revised Code shall be operated by a board of trustees chosen by a majority of the participating members of the arrangement in accordance with sections 1739.01 to 1739.22 of the Revised Code and with the articles and bylaws of the arrangement.
(B) The board, in addition to other powers contained in its articles, shall do all of the following:
(1) Invest and reinvest funds held by it in accordance with section 3925.08 of the Revised Code;
(2) Collect and disburse all money due or payable;
(3) Employ and contract with actuaries, accountants, and other agents and employees necessary for the operation of the arrangement.
(C) The board, in addition to other powers contained in its articles, may do all of the following:
(1) Employ and contract with banks, corporate trustees, insurance agents, and insurers authorized to do business in this state;
(2) Employ third-party administrators;
(3) Contract with any person or any agency of the state or of a political subdivision for the use of services or facilities necessary, useful, or incidental to the operation of the arrangement;
(4) Employ legal counsel;
(5) Execute contracts necessary or incidental to the operation of the arrangement;
(6) Pay dividends, with the approval of the superintendent of insurance, to or levy assessments on its members;
(7) Purchase bonds and insurance necessary to comply with requirements of the "Employee Retirement Income Security Act of 1974," 88 Stat. 829, 29 U.S.C.A. 1001, as amended, sections 1739.01 to 1739.22 of the Revised Code, and rules adopted by the superintendent pursuant to such sections;
(8) Perform such other acts, not inconsistent with sections 1739.01 to 1739.22 of the Revised Code or other laws of this state.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1739 | Multiple Employer Welfare Arrangements › Section 1739.09 | Annual Report.

Effective:
April 9, 1993
Latest Legislation:
House Bill 689 - 119th General Assembly
(A) Each multiple employer welfare arrangement operating a group self-insurance program, no later than the thirty-first day of March, shall make and file with the superintendent of insurance an annual report of its affairs and operations during the last preceding calendar year. The report shall be made pursuant to the forms, instructions, and manuals prescribed by the national association of insurance commissioners for the preparation of statutory financial statements and other financial information for domestic insurance companies other than life. However, the superintendent may modify such prescribed forms, instructions, and manuals as he considers necessary.
(B) For circumstances not addressed by the forms, instructions, and manuals prescribed by the national association of insurance commissioners, the superintendent may determine accounting practices and methods for purposes of preparing statutory financial statements and other financial information.
(C) For the purposes of preparing an annual report required under division (A) of this section, the arrangement shall report admitted assets in accordance with rules adopted by the superintendent in accordance with Chapter 119. of the Revised Code.
(D) The superintendent may employ actuaries, accountants, or other professionals to assist in performing the review of the report filed pursuant to division (A) of this section.
(E) At the request of the arrangement, the superintendent shall furnish a printed copy of the forms for the filing of statutory financial statements and other financial information required to be made by it under division (A) of this section.
(F) No arrangement shall fail to file a report with the superintendent in compliance with division (A) of this section.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1739 | Multiple Employer Welfare Arrangements › Section 1739.10 | Examinations by Superintendent.

Effective:
October 3, 2023
Latest Legislation:
House Bill 33 - 135th General Assembly
The superintendent of insurance, or any person appointed by the superintendent, may examine, as often as the superintendent or the superintendent's appointee considers it necessary, the affairs of a multiple employer welfare arrangement and its members.
The arrangement shall pay to the superintendent the expenses incurred by the department of insurance in making an examination authorized under this section. To the extent that expenses are the result of the use of the personnel of the examination department of the department of insurance, the superintendent shall remit expenses paid to the superintendent by the arrangement to the state treasury to the credit of the department of insurance operating fund pursuant to section 3901.021 of the Revised Code.
As used in this section, "expenses" has the same meaning as in section 3901.07 of the Revised Code.
Last updated October 3, 2023 at 9:21 AM
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1739 | Multiple Employer Welfare Arrangements › Section 1739.11 | Determining Financial Capacity of Multiple Employer Welfare Arrangement.

Effective:
April 9, 1993
Latest Legislation:
House Bill 689 - 119th General Assembly
In determining the financial capacity of a multiple employer welfare arrangement operating a group self-insurance program to pay employee welfare benefit obligations promptly and to otherwise meet its obligations under sections 1739.01 to 1739.22 of the Revised Code, the superintendent of insurance may take into consideration all of the following:
(A) Maintenance of minimum reserves that are necessary in the exercise of sound and prudent actuarial judgment either and that are certified by a member of the American academy of actuaries as having been computed in accordance with accepted loss reserving standards and as being fairly stated in accordance with sound loss reserving principles, or determined to be sufficient through such other documentation acceptable to the superintendent;
(B) The existence and face value of contracts or policies of excess insurance;
(C) Any other measure of financial capacity as the superintendent considers appropriate.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1739 | Multiple Employer Welfare Arrangements › Section 1739.12 | Excess Loss Funding Program.

Effective:
September 29, 2015
Latest Legislation:
House Bill 64 - 131st General Assembly
(A) The excess loss funding program of a multiple employer welfare arrangement operating a group self-insurance program shall be filed with the superintendent of insurance.
(B) As a condition to the issuance and maintenance of a certificate of authority, a multiple employer welfare arrangement operating a group self-insurance program shall purchase individual stop-loss insurance from insurers authorized to transact business in this state with a deductible retention of no more than five per cent of the arrangement's annual aggregate premium up to one million dollars and no more than two and one-half per cent of the arrangement's annual aggregate premium above that amount. The arrangement also shall purchase, as a condition to the issuance and maintenance of a certificate of authority, aggregate stop-loss insurance from insurers authorized to transact business in this state with a deductible retention of no more than one hundred twenty-five per cent of its projected claims for the succeeding fiscal year.
(C) Any excess or stop-loss insurance policy purchased by a multiple employer welfare arrangement shall provide that the superintendent must be notified by the arrangement of the cancellation of the policy for any reason, including the failure of the arrangement to pay any applicable premium.
(D) No excess or stop-loss insurance policy purchased by a multiple employer welfare arrangement shall do any of the following on the basis of actual or expected claims for an individual or an individual's given diagnosis:
(1) Assign a different attachment point for that individual;
(2) Assign a deductible to that individual that must be met before excess or stop-loss insurance applies;
(3) Deny excess or stop-loss insurance coverage to that individual.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1739 | Multiple Employer Welfare Arrangements › Section 1739.13 | Minimum Surplus - Investment and Maintenance of Assets.

Effective:
September 29, 2015
Latest Legislation:
House Bill 64 - 131st General Assembly
(A) A multiple employer welfare arrangement operating a group self-insurance program shall maintain a minimum surplus of not less than five hundred thousand dollars or such higher amounts of surplus as the superintendent of insurance may establish by rule for the protection of the members and their employees.
(B) Except as otherwise provided for in sections 1739.01 to 1739.21 of the Revised Code, the assets of a multiple employer welfare arrangement operating a group self-insurance program shall be invested only in securities or other investments permitted by the laws of this state for the investment of assets of domestic insurance companies other than life.
(C) A multiple employer welfare arrangement operating a group self-insurance program shall maintain assets in cash, receivables, or securities authorized by the laws of this state for the investment of assets of domestic insurance companies other than life in an amount that is equivalent to or higher than the unearned premiums and minimum surplus required under sections 1739.01 to 1739.22 of the Revised Code, the reserves for losses outstanding and unpaid, and any other liabilities of the arrangement.