reglab/statecodes huggingface dataset:
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1753 | Physician-Health Plan Partnership Act; Risk-Based Capital for Insurers Model Act › Section 1753.21 | Prescription Drugs.

Effective:
October 1, 1998
Latest Legislation:
House Bill 361 - 122nd General Assembly
(A) If a policy, contract, or agreement of a health insuring corporation uses a restricted formulary of prescription drugs, the health insuring corporation shall do both of the following:
(1) Develop such a formulary in consultation with and with the approval of a pharmacy and therapeutics committee, a majority of the members of which are physicians affiliated with the health insuring corporation who may prescribe prescription drugs and pharmacists affiliated with the health insuring corporation; or in consultation with and with the approval of a pharmacy and therapeutics committee that is independent of the health insuring corporation consisting of physicians who may prescribe prescription drugs in their state of licensure and pharmacists who are authorized to practice in their state of licensure;
(2) Establish a procedure by which an enrollee may obtain, without penalty or additional cost sharing beyond that provided for formulary drugs under the enrollee's contract with the health insuring corporation, coverage of a specific nonformulary drug when the prescriber documents in the enrollee's medical record and certifies that the formulary alternative has been ineffective in the treatment of the enrollee's disease or condition, or that the formulary alternative causes or is reasonably expected by the prescriber to cause a harmful or adverse reaction in the enrollee.
(B) Nothing in this section shall be construed to require a health insuring corporation to place any particular pharmaceutical product or therapeutic class of product on any formulary, or to prohibit a health insuring corporation from restricting payments for any specific pharmaceutical product or therapeutic class of product, including, but not limited to, a requirement that the product be prescribed only by a defined specialist or subspecialist.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1753 | Physician-Health Plan Partnership Act; Risk-Based Capital for Insurers Model Act › Section 1753.23 | Internal Technology Assessment Process.

Effective:
October 1, 1998
Latest Legislation:
House Bill 361 - 122nd General Assembly
A health insuring corporation that provides basic health care services shall establish or use an internal technology assessment process for assessing whether a drug, device, protocol, procedure, or other therapy is proven to be safe and efficacious for a particular indication or condition when compared to alternative therapies, or whether it remains experimental or investigational. The health insuring corporation's internal technology assessment process shall meet all of the following criteria:
(A) Decisions are made by medical professionals, including physicians.
(B) The process includes a review of relevant medical evidence, including the following, if available:
(1) Peer-reviewed medical and scientific literature on the subject;
(2) Published opinions, actions, and other relevant documents of independent, external research organizations such as the national institute of health, the national cancer institute, the United States food and drug administration, the health care finance administration, and the agency for health care policy and research;
(3) Published opinions of medical experts or affected specialty societies.
(C) General coverage decisions, made pursuant to this process, that exclude drugs, devices, protocols, procedures, or other therapies on the basis that they are not safe or efficacious and remain experimental or investigational, are reviewed and updated as new scientific evidence becomes available.
(D) A description of the health insuring corporation's internal technology assessment process is made available to participating providers and enrollees, upon request.
(E) A copy of the health insuring corporation's specific coverage protocols and procedures is made available to participating providers and enrollees upon the request of an enrollee who has been denied coverage for a drug, device, protocol, procedure, or other therapy on the basis that it has been assessed as not being safe or efficacious for a particular indication or condition. Specific coverage protocols and procedures shall include a description of the evidence upon which the protocol or procedure is based, and shall contain the date the protocol or procedure was adopted.
(F) A drug or device that has received full market approval by the United States food and drug administration for treatment of a particular indication or condition cannot, for purposes of this assessment process, be considered experimental or investigational for that indication or condition.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1753 | Physician-Health Plan Partnership Act; Risk-Based Capital for Insurers Model Act › Section 1753.30 | Other Insurance Provisions.

Effective:
October 1, 1998
Latest Legislation:
House Bill 361 - 122nd General Assembly
Nothing in this chapter shall prevent or otherwise affect the application to any health care plan of those provisions of Title XVII or XXXIX of the Revised Code that would otherwise apply.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1753 | Physician-Health Plan Partnership Act; Risk-Based Capital for Insurers Model Act › Section 1753.31 | Risk-Based Capital for Insurers Model Act Definitions.

Effective:
January 1, 2021
Latest Legislation:
House Bill 339 - 133rd General Assembly
As used in sections 1753.31 to 1753.43 of the Revised Code:
(A) "Adjusted RBC report" means an RBC report that has been adjusted by the superintendent of insurance in accordance with division (C) of section 1753.32 of the Revised Code.
(B) "Authorized control level RBC" means the number determined under the risk-based capital formula in accordance with the RBC instructions.
(C) "Company action level RBC" means the product of 2.0 and a health insuring corporation's authorized control level RBC.
(D) "Corrective order" means an order issued by the superintendent of insurance specifying corrective actions that the superintendent determines are required.
(E) "Domestic health insuring corporation" means a health insuring corporation domiciled in this state.
(F) "Foreign health insuring corporation" means a health insuring corporation holding a certificate of authority under chapter 1751. of the Revised Code that is domiciled outside of this state.
(G) "Mandatory control level RBC" means the product of .70 and a health insuring corporation's authorized control level RBC.
(H) "NAIC" means the national association of insurance commissioners.
(I) "Net worth" means statutory capital and surplus.
(J) "RBC" means risk-based capital.
(K) "RBC instructions" means the RBC report, including risk-based capital instructions, as adopted by the NAIC and as amended by the NAIC from time to time in accordance with the procedures adopted by the NAIC. "RBC instructions" also includes any modifications adopted by the superintendent of insurance, as the superintendent considers to be necessary.
(L) "RBC level" means a health insuring corporation's action level RBC, regulatory action level RBC, authorized control level RBC, or mandatory control level RBC.
(M) "RBC plan" means a comprehensive financial plan containing the elements specified in division (B) of section 1753.33 of the Revised Code.
(N) "RBC report" means the report required by section 1753.32 of the Revised Code.
(O) "Regulatory action level RBC" means the product of 1.5 and a health insuring corporation's authorized control level RBC.
(P) "Revised RBC plan" means an RBC plan rejected by the superintendent of insurance and then revised by a health insuring corporation with or without incorporating the superintendent's recommendations.
(Q) "Total adjusted capital" means the sum of both of the following:
(1) A health insuring corporation's net worth as determined in accordance with the statutory accounting applicable to the annual financial statements required to be filed under section 1751.32 of the Revised Code;
(2) Such other items, if any, as the RBC instructions may provide.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1753 | Physician-Health Plan Partnership Act; Risk-Based Capital for Insurers Model Act › Section 1753.32 | Annual Report.

Effective:
March 15, 2001
Latest Legislation:
House Bill 714 - 123rd General Assembly
(A) Each domestic health insuring corporation shall, on or prior to the first day of March of every year, prepare and submit to the superintendent of insurance a report on its RBC levels as of the end of the calendar year just ended, in a form and containing such information as is required by the RBC instructions. In addition, a domestic health insuring corporation shall file its RBC report as follows:
(1) With the NAIC, in accordance with the RBC instructions;
(2) With the insurance regulatory authority of any other state in which the health insuring corporation is authorized to do business, if the insurance regulatory authority of that state has sent a written request to the health insuring corporation for the RBC report. The health insuring corporation shall file an RBC report with the requesting state no later than the later of:
(a) Fifteen days after the health insuring corporation's receipt of the insurance regulatory authority's request for the RBC report;
(b) Prior to the first day of March.
(B) A health insuring corporation's RBC levels shall be determined in accordance with the formula set forth in the RBC instructions. The formula shall take the following risks into account, and may adjust for the covariance between these risks, as determined in each case by applying the factors in the manner set forth in the RBC instructions:
(1) Asset risk;
(2) Credit risk;
(3) Underwriting risk;
(4) All other business risks and such other relevant risks as are set forth in the RBC instructions.
(C) If a domestic health insuring corporation files an RBC report that in the judgment of the superintendent is inaccurate, the superintendent shall adjust the RBC report to correct the inaccuracy and then shall provide a copy of the adjusted RBC report to the health insuring corporation. The superintendent shall also provide the health insuring corporation with a statement of the reasons for any adjustment.
(D) In enacting sections 1753.31 to 1753.43 of the Revised Code, the general assembly finds all of the following:
(1) An excess of capital over the amount produced by the risk-based capital requirements of sections 1753.31 to 1753.43 of the Revised Code, and the formulas, schedules, and instructions referenced in sections 1753.31 to 1753.43 of the Revised Code, is desirable in the business of insurance.
(2) Health insuring corporations, accordingly, should seek to maintain capital above the RBC levels required by sections 1753.31 to 1753.43 of the Revised Code.
(3) Additional capital is used and is useful in the business of insurance, helping to secure a health insuring corporation against various risks inherent in, or affecting, the business of insurance, which risks are not accounted for or are only partially measured by the risk-based capital requirements of sections 1753.31 to 1753.43 of the Revised Code.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1753 | Physician-Health Plan Partnership Act; Risk-Based Capital for Insurers Model Act › Section 1753.35 | Authorized Control Level Event.

Effective:
March 15, 2001
Latest Legislation:
House Bill 714 - 123rd General Assembly
(A) For purposes of sections 1753.31 to 1753.43 of the Revised Code, an "authorized control level event" is any of the following events:
(1) The filing of an RBC report by a health insuring corporation that indicates that the health insuring corporation's total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC;
(2) The notification by the superintendent of insurance to a health insuring corporation of an adjustment to the health insuring corporation's RBC report, which adjusted RBC report shows the health insuring corporation's total adjusted capital within the range described in division (A)(1) of this section, provided that the health insuring corporation does not challenge the adjusted RBC report under section 1753.37 of the Revised Code;
(3) The notification by the superintendent to a health insuring corporation, following the hearing required under section 1753.37 of the Revised Code, that the superintendent has rejected the health insuring corporation's challenge to an adjusted RBC report showing the health insuring corporation's total adjusted capital within the range described in division (A)(1) of this section;
(4) The failure of a health insuring corporation to respond, in a manner satisfactory to the superintendent, to a corrective order issued under division (B)(3) of section 1753.34 of the Revised Code, provided that the health insuring corporation does not challenge the corrective order under section 1753.37 of the Revised Code;
(5) The failure of a health insuring corporation to respond, in a manner satisfactory to the superintendent, to a corrective order issued under division (B)(3) of section 1753.34 of the Revised Code subsequent to the superintendent's modification of an earlier order or the superintendent's rejection of the health insuring corporation's challenge of the order under section 1753.37 of the Revised Code.
(B) In the case of an authorized control level event, the superintendent shall do the following:
(1) Take the actions required under section 1753.34 of the Revised Code for regulatory action level events;
(2) If the superintendent considers it to be in the best interests of the subscribers and creditors of the health insuring corporation and of the public, take such actions as are necessary to place the health insuring corporation under regulatory control under sections 3903.01 to 3903.59 of the Revised Code. The authorized control level event shall be deemed sufficient grounds for the superintendent to take action under sections 3903.01 to 3903.59 of the Revised Code. Nothing in sections 1753.31 to 1753.43 of the Revised Code shall impair or restrict the rights, powers, and protections afforded to the superintendent and to health insuring corporations under sections 3903.01 to 3903.59 of the Revised Code.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1753 | Physician-Health Plan Partnership Act; Risk-Based Capital for Insurers Model Act › Section 1753.36 | Mandatory Control Level Event.

Effective:
March 15, 2001
Latest Legislation:
House Bill 714 - 123rd General Assembly
(A) For purposes of sections 1753.31 to 1753.43 of the Revised Code, a "mandatory control level event" is any of the following events:
(1) The filing of an RBC report by a health insuring corporation that indicates that the health insuring corporation's total adjusted capital is less than its mandatory control level RBC;
(2) The notification by the superintendent of insurance to a health insuring corporation of an adjustment to the health insuring corporation's RBC report, which adjusted RBC report shows the health insuring corporation's total adjusted capital at less than its mandatory control level RBC, provided the health insuring corporation does not challenge the adjusted RBC report under section 1753.37 of the Revised Code;
(3) The notification by the superintendent to the health insuring corporation, following the hearing required under section 1753.37 of the Revised Code, that the superintendent has rejected the health insuring corporation's challenge to an adjusted RBC report.
(B) In the case of a mandatory control level event, the superintendent shall take such actions as are necessary to place the health insuring corporation under regulatory control under sections 3903.01 to 3903.59 of the Revised Code. The mandatory control level event shall be deemed sufficient grounds for the superintendent to take action under sections 3903.01 to 3903.59 of the Revised Code. Nothing in sections 1753.31 to 1753.43 of the Revised Code shall impair or restrict the rights, powers, and protections afforded to the superintendent and to health insuring corporations under sections 3903.01 to 3903.59 of the Revised Code. However, the superintendent may defer action under this division for up to ninety days after the mandatory control level event if the superintendent finds that there is a reasonable expectation the health insuring corporation may be able to eliminate the conditions leading to the mandatory control level event within the ninety-day period.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1753 | Physician-Health Plan Partnership Act; Risk-Based Capital for Insurers Model Act › Section 1753.37 | Right to Confidential Hearing - Request for Hearing - Challenge to Determination or Action.

Effective:
March 15, 2001
Latest Legislation:
House Bill 714 - 123rd General Assembly
(A) A health insuring corporation has the right to a confidential hearing upon receiving any of the following from the superintendent of insurance:
(1) An adjusted RBC report;
(2) Notification that the health insuring corporation's RBC plan or revised RBC plan is unsatisfactory and a statement that the notification constitutes a regulatory action level event for the health insuring corporation;
(3) Notification that the superintendent has determined that the health insuring corporation has failed to adhere to its RBC plan or revised RBC plan, which failure has a substantial adverse effect on the ability of the health insuring corporation to eliminate the conditions leading to a company action level event in accordance with its RBC plan or revised RBC plan;
(4) A corrective order issued under division (B)(3) of section 1753.34 of the Revised Code.
(B) A health insuring corporation shall notify the superintendent of its request for a hearing within five days after its receipt of any item listed in division (A) of this section. Upon the superintendent's receipt of the health insuring corporation's request for a hearing, the superintendent shall set a date for the hearing, which date shall be no less than ten days and no more than thirty days after the superintendent's receipt of the health insuring corporation's request.
(C) A health insuring corporation may challenge any determination or action taken by the superintendent under sections 1753.31 to 1753.43 of the Revised Code at the hearing held pursuant to this section.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1753 | Physician-Health Plan Partnership Act; Risk-Based Capital for Insurers Model Act › Section 1753.39 | Foreign Health Insuring Corporation.

Effective:
March 15, 2001
Latest Legislation:
House Bill 714 - 123rd General Assembly
(A) Each foreign health insuring corporation shall submit to the superintendent of insurance, upon receiving the superintendent's written request, an RBC report for the calendar year just ended. The health insuring corporation shall submit the RBC report to the superintendent no later than the later of:
(1) The date a domestic health insuring corporation would be required to file an RBC report under section 1753.32 of the Revised Code;
(2) Fifteen days after the superintendent's request is received by the foreign health insuring corporation.
(B) Each foreign health insuring corporation shall, upon receiving the superintendent's written request, promptly submit to the superintendent a copy of any RBC plan or revised RBC plan filed with the insurance regulatory authority of any other state.
(C) The superintendent may require a foreign health insuring corporation to file an RBC plan with the superintendent in the case of a company action level event, regulatory action level event, or authorized control level event involving the foreign health insuring corporation, if the insurance regulatory authority of the state of domicile of the foreign health insuring corporation fails to require the foreign health insuring corporation to file an RBC plan in the manner specified under that state's RBC laws, if any. The failure of a foreign health insuring corporation to file an RBC plan or revised RBC plan with the superintendent as required shall be grounds for the superintendent to order the health insuring corporation to cease and desist from writing new business in this state.
(D) In the case of a mandatory control level event involving a foreign health insuring corporation, if no domiciliary receiver has been appointed for the foreign health insuring corporation under the rehabilitation and liquidation laws applicable in the state of domicile of the foreign health insuring corporation, the superintendent may make application to the court of common pleas as permitted in sections 3903.50 to 3903.59 of the Revised Code for an order directing the superintendent to liquidate the property of the foreign health insuring corporation found in this state. The occurrence of the mandatory control level event shall be deemed sufficient grounds for the superintendent to make application to the court.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1753 | Physician-Health Plan Partnership Act; Risk-Based Capital for Insurers Model Act › Section 1753.40 | Immunity.

Effective:
March 15, 2001
Latest Legislation:
House Bill 714 - 123rd General Assembly
There shall be no liability on the part of, and no cause of action shall arise against, the superintendent of insurance, or the department of insurance, its employees, or its agents, for any action taken in their performance of the powers and duties under sections 1753.31 to 1753.43 of the Revised Code.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1753 | Physician-Health Plan Partnership Act; Risk-Based Capital for Insurers Model Act › Section 1753.41 | When Notices Are Effective.

Effective:
March 15, 2001
Latest Legislation:
House Bill 714 - 123rd General Assembly
Unless otherwise provided, all notices sent to a health insuring corporation by the superintendent of insurance that may result in regulatory action under sections 1753.31 to 1753.43 of the Revised Code shall be effective upon dispatch if transmitted by registered or certified mail. Any other notice transmitted shall be effective upon the health insuring corporation's receipt of the notice.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1753 | Physician-Health Plan Partnership Act; Risk-Based Capital for Insurers Model Act › Section 1753.42 | Requirements for Exemption of Domestic Corporation.

Effective:
March 15, 2001
Latest Legislation:
House Bill 714 - 123rd General Assembly
The superintendent of insurance may exempt any domestic health insuring corporation from the application of sections 1753.31 to 1753.43 of the Revised Code, if the health insuring corporation meets all of the following requirements:
(A) The health insuring corporation writes direct business in this state only.
(B) The health insuring corporation assumes no reinsurance in excess of five per cent of direct premium written.
(C) The health insuring corporation either:
(1) Writes direct annual premiums of two million dollars or less for basic health care services;
(2) Covers less than two thousand enrollees under policies, contracts, certificates, or agreements for supplemental health care services.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1753 | Physician-Health Plan Partnership Act; Risk-Based Capital for Insurers Model Act › Section 1753.43 | Rules.

Effective:
March 15, 2001
Latest Legislation:
House Bill 714 - 123rd General Assembly
The superintendent of insurance may adopt rules in accordance with Chapter 119. of the Revised Code as are reasonably necessary for the implementation and operation of sections 1753.31 to 1753.43 of the Revised Code.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1761 | Credit Union Guaranty Corporations › Section 1761.03 | General Purposes of Corporation.

Effective:
September 27, 2002
Latest Legislation:
House Bill 506 - 124th General Assembly
The general purposes of a credit union share guaranty corporation are:
(A) To guarantee payment of all or a part of participating credit union share accounts of an individual member or, as described in division (B)(2) of section 1761.02 of the Revised Code, a nonmember of a participating credit union, subject to any express limitations as provided in this chapter;
(B) To aid and assist any participating credit union that is in liquidation or incurs financial difficulty in order that the credit union share accounts are protected or guaranteed against loss;
(C) To cooperate with participating credit unions, the superintendent of credit unions, the appropriate credit union supervisory authorities, and the national credit union administration for the purpose of advancing the general welfare of credit unions in this state and in other states where participating credit unions operate.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1761 | Credit Union Guaranty Corporations › Section 1761.04 | Regulation - Fees.

Effective:
September 29, 2011
Latest Legislation:
House Bill 153 - 129th General Assembly
(A) The licensing and operation of a credit union share guaranty corporation is subject to the regulation of the superintendent of insurance pursuant to Chapters 3901., 3903., 3905., 3925., 3927., 3929., 3937., 3941., and 3999. of the Revised Code to the extent such laws are otherwise applicable and are not in conflict with this chapter.
(B) A credit union share guaranty corporation shall pay, by the fifteenth day of April of each year, to the superintendent of credit unions, an annual fee of one-half of one per cent of its guarantee fund as shown by the corporation's last annual financial report, but in no event shall such payment exceed twenty-five thousand dollars in any calendar year.
(C) In addition to the specific powers and duties given the superintendent of insurance and the superintendent of credit unions under this chapter, the superintendents may independently, pursuant to Chapter 119. of the Revised Code, adopt, amend, and rescind such rules as are necessary to implement the requirements of this chapter.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1761 | Credit Union Guaranty Corporations › Section 1761.09 | Guarantees for Share Accounts.

Effective:
March 23, 2015
Latest Legislation:
House Bill 652 - 130th General Assembly
(A) Each credit union share account of an individual member or, as described in division (B)(2) of section 1761.02 of the Revised Code, a nonmember of a participating credit union shall be guaranteed in amounts established from time to time by the credit union share guaranty corporation. Such primary guaranteed amount shall not be less than the amount of the credit union share account but, in no event, shall exceed two hundred fifty thousand dollars or the primary guaranteed amount insured by the national credit union administration, whichever is greater.
(B) In addition to the primary guaranteed amount, the corporation may establish an excess coverage guarantee for the benefit of those participating credit unions that voluntarily elect to obtain such additional guarantee.
(C) The guarantees provided pursuant to this chapter do not apply to credit union share accounts until the credit union has applied for and been admitted as a participating credit union, and cease to apply to the share accounts of any credit union upon the later of any of the following:
(1) The termination of the credit union's participation in the corporation pursuant to section 1761.12 of the Revised Code;
(2) The completion of the liquidation of the credit union;
(3) The withdrawal of the credit union from participation in the corporation.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1761 | Credit Union Guaranty Corporations › Section 1761.11 | Notification of Possession or Liquidation of Credit Union.

Effective:
September 14, 1988
Latest Legislation:
House Bill 796 - 117th General Assembly
(A) The superintendent of credit unions shall give prompt notice to the applicable credit union share guaranty corporation whenever he takes possession of the property and assets of a participating credit union. The superintendent shall give further prompt notice whenever he determines to liquidate the property and assets of such participating credit union.
(B) When the property and business of a participating credit union has been liquidated or is in the process of liquidation and the proceeds of liquidation distributed are insufficient to pay the full guaranteed amount of each credit union share account, the corporation shall pay each such deficiency up to the guaranteed amount within thirty days from the date the credit union share account balance is verified. When such guaranteed amounts are paid, and after charging the amount thereof to undivided or retained earnings, each participating credit union's account shall be reduced ratably based on the account balance for the total amount paid.
(C) When any member's credit union share account is paid, the corporation shall be subrogated to all rights of the member, up to the amount paid by the corporation to such member.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1761 | Credit Union Guaranty Corporations › Section 1761.12 | Terminating Participation in Corporation of Participating Credit Union.

Effective:
March 23, 2015
Latest Legislation:
House Bill 652 - 130th General Assembly
(A) A credit union share guaranty corporation may terminate the participation in the corporation of a participating credit union for any of the following reasons:
(1) The participating credit union fails to satisfy the risk eligibility standards established by the corporation and applicable to all applying and participating credit unions;
(2) The participating credit union otherwise operates in an unsafe and unsound manner as determined by the corporation;
(3) The participating credit union fails to furnish financial statements, delinquent loan reports, or other information considered necessary by the corporation under division (B) or (C) of section 1761.08 of the Revised Code;
(4) The participating credit union fails to remedy in a timely manner a qualification arising from an audit under division (E) of section 1761.08 of the Revised Code;
(5) The participating credit union fails to pay when due a capital contribution or applicable premium, fee, or assessment under section 1761.10 of the Revised Code;
(6) The participating credit union fails to comply with any provision of this chapter, the articles of incorporation or bylaws of the corporation, or any corrective action agreement executed between the participating credit union and the corporation;
(7) Continued participation would result in a violation of this chapter or other applicable state or federal law by the corporation.
(B)(1) The credit union share guaranty corporation shall, at least thirty days prior to the effective date of any termination, notify in writing the participating credit union to be terminated and the superintendent of credit unions, any other credit union supervisory authority, or the national credit union administration of the pending termination and the reasons for such termination.
(2) The thirty-day notice of termination required under division (B)(1) of this section does not apply to the termination of excess coverage.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1761 | Credit Union Guaranty Corporations › Section 1761.14 | Record and Use of Income.

Effective:
September 14, 1988
Latest Legislation:
House Bill 796 - 117th General Assembly
(A) A credit union share guaranty corporation shall record income from investments in an income account, and may use such income to defray expenses of operations. Income from all sources that exceeds an amount determined by the board of directors to be adequate to provide for current expenses may be credited to participating credit unions' accounts.
(B) Expenses of operations that exceed income from all sources at year end shall be charged, first to undivided or retained earnings, and then to participating credit unions' accounts. Each participating credit union's accounts shall be charged ratably based on the account balance for the amount of the excess.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1761 | Credit Union Guaranty Corporations › Section 1761.15 | Establishing Reserve for Guaranty Losses.

Effective:
September 14, 1988
Latest Legislation:
House Bill 796 - 117th General Assembly
A credit union share guaranty corporation shall establish a reserve for guaranty losses on an incurred basis in accordance with generally accepted accounting principles during the period in which such losses become evident. Such reserve shall provide for losses reported to the corporation, losses incurred but not reported, and estimated losses on the collection of notes and other guarantees to member credit unions. Estimates of loss frequency and loss severity for incurred but not reported losses shall be made based on historical data, trends, economic factors, and other statistical information related to member credit unions. Such reserve shall be reported in its annual statement to the superintendent of insurance according to the principles of statutory accounting. All determinations of the superintendent of insurance shall be made on the basis of principles of statutory accounting.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1761 | Credit Union Guaranty Corporations › Section 1761.17 | Taking Possession of Property and Business of Credit Union Share Guaranty Corporation.

Effective:
March 23, 2015
Latest Legislation:
House Bill 652 - 130th General Assembly
(A) The superintendent of credit unions or the superintendent of insurance may forthwith take possession of the property and business of the credit union share guaranty corporation and retain possession until the corporation satisfies the superintendent that it will operate in conformity with this chapter whenever it appears to the superintendent that the corporation has done any of the following:
(1) Failed to pay the annual fee required by division (B) of section 1761.04 of the Revised Code;
(2) Not paid deficiencies up to the maximum guaranteed amount within the time frame set forth in section 1761.11 of the Revised Code;
(3) Invested its funds in violation of section 1761.13 of the Revised Code;
(4) Not collected required capital contributions, special assessments, or special premium assessments in accordance with section 1761.10 of the Revised Code;
(5) Knowingly violated any cease-and-desist order;
(6) Neglected or refused to submit any item specifically required by the superintendent under this chapter to the inspection of any examiner or other agent of the superintendent.
(B) During the time the superintendent of credit unions retains possession of the property and business of the corporation pursuant to division (A) of this section, the superintendent shall perform the duties and carry out the obligations of the corporation.
(C) Whenever the superintendent has taken possession of the property and business of the corporation, if it considers itself aggrieved thereby, the corporation may, within ten days after such taking, apply to the common pleas court of Franklin county to enjoin further proceedings. The court, after citing the superintendent to show cause why further proceedings should not be enjoined, and after a hearing and a determination of the facts upon the merits, may dismiss such application or enjoin the superintendent from further proceedings and direct the superintendent to surrender the property and business to the corporation, or make such further order as may be just.
(D) An appeal may be taken from the judgment of the court by the superintendent or by the corporation in the manner provided by law for appeals from the judgment of a court of common pleas. An appeal from the judgment of the court shall not operate as a stay of the judgment unless the court, on good cause, so orders.
(E) Any action by the superintendent of insurance to take possession of the property and business of a credit union share guaranty corporation shall be under Chapter 3903. of the Revised Code.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1761 | Credit Union Guaranty Corporations › Section 1761.19 | Setting Supervisory Conference.

Effective:
September 14, 1988
Latest Legislation:
House Bill 796 - 117th General Assembly
(A) If, at any time, the superintendent of credit unions or the superintendent of insurance has cause to believe that the actions or practices of a credit union share guaranty corporation or its officers, directors, or employees may cause harm to the corporation, its members, or creditors, the superintendent may set a supervisory conference. The superintendent shall inform each director of the corporation of the date, time, and place of the supervisory conference. The directors of the corporation shall attend supervisory conferences set by the superintendent. Unless a director has a reasonable excuse for his refusal or failure to attend a supervisory conference, such refusal or failure shall be grounds for removal. Such removal shall be in accordance with procedures applicable to the removal of a director of a credit union under section 1733.181 of the Revised Code.
(B) At the supervisory conference, the superintendent shall inquire into the actions or practices at issue. If it appears to the superintendent that such actions or practices are likely to cause harm to the corporation, its members, or creditors, the superintendent may negotiate and conclude an agreement with the corporation, its officers, or directors as to action that is to be taken by the corporation, its officers, or directors to correct or prevent the actions or practices which are the subject of the supervisory conference. Such an agreement shall be reduced to writing as soon as possible after it is concluded, and may be modified or terminated by a subsequent agreement.
(C) This section shall not be construed to mean that the superintendent cannot request a meeting with the management, board of directors, or agent of the corporation other than for the purpose of concluding a supervisory agreement.
(D) When any supervisory conference is set under this section, the superintendent of credit unions and the superintendent of insurance shall provide the other with notice of the supervisory conference and shall provide an opportunity to the other to join and participate in the supervisory conference.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1761 | Credit Union Guaranty Corporations › Section 1761.20 | Civil Penalty.

Effective:
September 14, 1988
Latest Legislation:
House Bill 796 - 117th General Assembly
(A)(1) If a credit union share guaranty corporation or a director, officer, or employee of the corporation fails to comply with any agreement concluded with the superintendent of credit unions under section 1761.19 of the Revised Code, or any final or summary cease-and-desist order issued by the superintendent under section 1761.18 of the Revised Code, the superintendent of credit unions may order the corporation, director, officer, or employee to forfeit and pay a civil penalty in an amount fixed by the superintendent.
(2) If a credit union share guaranty corporation or a director, officer, or employee of the corporation fails to comply with any agreement concluded with the superintendent of insurance under section 1761.19 of the Revised Code, or any final or summary cease-and-desist order issued by the superintendent under section 1761.18 of the Revised Code, the superintendent of insurance may order the corporation, director, officer, or employee to forfeit and pay a civil penalty in an amount fixed by the superintendent.
(B) The amount of the penalty under division (A) of this section shall be not more than ten thousand dollars for each day the noncompliance continues. In fixing the amount of a civil penalty, the superintendent shall consider all of the following factors:
(1) The seriousness of the noncompliance and the gravity of the risk occasioned by the noncompliance;
(2) The good faith efforts made by the corporation, director, officer, or employee to perform his or its obligations under or otherwise to comply with the order;
(3) The history of previous violations or unsafe or unsound practices by the corporation, director, officer, or employee that resulted in the service of a notice under division (A)(1) of section 1761.18 of the Revised Code;
(4) The financial resources of the corporation, director, officer, or employee against whom the penalty is being assessed;
(5) Any other matters as justice may require.
(C) If the corporation, director, officer, or employee fails to pay a forfeiture assessed under this section, the superintendent shall bring a civil action to collect the forfeiture.
(D) A director, officer, or employee is personally liable for the payment of any civil penalty that is assessed against him under this section. No corporation shall pay, or cause to be paid, on behalf of the director, officer, or employee, or indemnify or otherwise reimburse the director, officer, or employee for paying, any civil penalty that has been assessed against that director, officer, or employee.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1761 | Credit Union Guaranty Corporations › Section 1761.21 | Information to Be Kept Confidential.

Effective:
September 14, 1988
Latest Legislation:
House Bill 796 - 117th General Assembly
(A) All conferences and administrative proceedings under sections 1761.18 and 1761.19 of the Revised Code, the fact of their actual or anticipated occurrence, and all notices, agreements, hearings, orders, records, evidence, transcripts, and other writings, happenings, or things pertaining to those conferences or proceedings shall be kept confidential as among the superintendent of insurance, the superintendent of credit unions, the director of commerce, the deputy director of financial institutions, the governor, a credit union share guaranty corporation or a director, officer, or employee of the corporation who is party to the conference or proceedings, witnesses in the conference or proceedings, and other persons specifically designated by the superintendent of credit unions for those conferences and proceedings set by him or the superintendent of insurance for those conferences and proceedings set by him. In designating specific persons who may be present or acquire knowledge of matters made confidential by this division, the superintendent shall not exclude attorneys or other suitable representatives of the corporation, director, officer, or employee who is party to the conference or proceedings. If the conference or proceedings apply to a director, officer, or employee, the superintendent shall not exclude suitable representatives of the credit union of which such regulated individual is an officer, director, or employee.
(B) Division (A) of this section ceases to apply upon the occurrence of any of the following:
(1) An action is brought to recover a forfeiture for the violation of an agreement concluded, or a final or summary cease-and-desist order issued, under section 1761.18 or 1761.19 of the Revised Code. A forfeiture, in the absence of such an action for recovery, does not waive division (A) of this section except insofar as the forfeiture must be reflected or reported in the financial records or reports of the credit union or regulated individual.
(2) Information made confidential by division (A) of this section is needed as evidence in a criminal proceeding or in the work of a committee of the general assembly;
(3) The superintendent of credit unions or the superintendent of insurance furnishes information made confidential by division (A) of this section to the applicable insurer recognized under section 1733.041 of the Revised Code.
(C) No officer or employee of the division of credit unions, of the department of commerce or any of its other divisions, or of the governor's office shall violate division (A) of this section.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1761 | Credit Union Guaranty Corporations › Section 1761.23 | License Revocation.

Effective:
September 14, 1988
Latest Legislation:
House Bill 796 - 117th General Assembly
(A) The superintendent of insurance may revoke the license of any credit union share guaranty corporation that fails to comply with a final cease-and-desist order issued under section 1761.18 of the Revised Code or for any violation of this chapter or the insurance laws of this state.
(B) No license shall be revoked under this section or any other section of this chapter or the insurance laws of this state until after a hearing has been held in accordance with Chapter 119. of the Revised Code.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1761 | Credit Union Guaranty Corporations › Section 1761.24 | State Not Liable for Deficiency.

Effective:
September 14, 1988
Latest Legislation:
House Bill 796 - 117th General Assembly
Nothing in this chapter creates any liability upon this state for the payment of any funds to any participating credit union by reason of the acts or omissions of the credit union share guaranty corporation, nor shall the state pay any deficiency of any participating credit union in the event the corporation is unable to pay such deficiency.
2023 Ohio Revised Code › Title 17 | Corporations-Partnerships › Chapter 1761 | Credit Union Guaranty Corporations › Section 1761.26 | 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 share guaranty corporation, or to otherwise participate in the management of such a corporation, 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 1761 | Credit Union Guaranty Corporations › Section 1761.99 | Penalty.

Effective:
September 14, 1988
Latest Legislation:
House Bill 796 - 117th General Assembly
(A) Whoever violates section 1761.05 or division (G) of section 1761.08 of the Revised Code is guilty of a misdemeanor of the first degree.
(B) Whoever violates division (C) of section 1761.21 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 1775 | Uniform Partnership Law › Section 1775.66 | Application of Chapter.

Effective:
August 6, 2008
Latest Legislation:
House Bill 332 - 127th General Assembly
(A) This chapter does not govern any partnership on and after the first day of January, 2010.
(B) This chapter does not govern any partnership that is formed on or after the first day of January, 2009. Chapter 1776. of the Revised Code governs any partnership formed on or after that date.
(C) This chapter does not govern any partnership that elects to be governed by Chapter 1776. of the Revised Code pursuant to procedures in division (C) of section 1776.95 of the Revised Code, on and after the date the partnership elects to be governed by that chapter.