Ohio Administrative Code › Title 3901 - Department of Insurance › Chapter 3901-1 - General Provisions › Section 3901-1-05 - Insider trading - instructions and forms

Current through all regulations passed and filed through July 1, 2024
(A) Purpose
The purpose of this rule is
				to promulgate procedures and forms to be adhered to in filing initial
				statements of changes in beneficial ownership of any equity security. Effective
				April 4, 1985, division (A) of section
				3901.31 of the Revised Code was
				amended to exclude from application of this filing requirement domestic stock
				insurance companies which are wholly owned subsidiaries of an insurance holding
				company system.
(B)
								Authority
This rule is promulgated pursuant to
				the authority vested in the superintendent under division (H) of section
				3901.31 of the Revised Code,
				which empowers the superintendent to adopt, amend, and rescind rules, pursuant
				to Chapter 119. of the Revised Code, which will enable the superintendent to
				carry out the duties imposed by section
				3901.31 of the Revised Code.
				Division (A) of section
				3901.31 of the Revised Code
				requires every person who is directly or indirectly the beneficial owner of
				more than ten per cent of any class of any equity security of a domestic stock
				insurance company or who is a director or officer of such company to file with
				the superintendent of insurance on or before January 31, 1966, or within ten
				days after the person becomes such beneficial owner, director, or officer, a
				statement in such form as the superintendent of insurance may prescribe of the
				amount of all equity securities of such company of which the person is the
				beneficial owner, and within ten days after the close of each calendar month
				thereafter, if there has been a change in such ownership during such month, to
				file with the superintendent of insurance a statement, in such form as the
				superintendent of insurance may prescribe, indicating the person's ownership at
				the close of the calendar month and such changes in the person's ownership as
				have occurred during such calendar month.
(C) Filing of
			 statements
(1) Initial statements of
			 beneficial ownership of equity securities shall be filed on form I.S.S., as set
			 forth in paragraph 
									(D)(9) of this rule. Statements of changes in
			 such beneficial ownership shall be filed on form C.S.S., as set forth in
			 paragraph 
									(E)(11) of this rule. All such statements shall be
			 prepared in accordance with the requirements of the applicable form and filed
			 as required.
(2) Form I.S.S.
(a) A statement on form I.S.S. shall be filed
			 by every person who is directly or indirectly the beneficial owner of more than
			 ten per cent of any class of equity security of a domestic stock insurance
			 company or who is a director or officer of such company.
(b) When section
			 3901.31 of the Revised Code
			 became law, persons who held any of the relationships specified in paragraph
			 
										(C)(2)
			 of this rule were required to file a statement on form I.S.S. on or before
			 January 31, 1966. Persons who subsequently assume any of the specified
			 relationships are required to file a statement within ten days after assuming
			 such relationship.
(c) A separate
			 statement shall be filed with respect to the securities of each domestic stock
			 insurance company.
(3)
			 Form C.S.S.
(a) A statement on form C.S.S.
			 shall be filed by every person who is directly or indirectly the beneficial
			 owner of more than ten per cent of any class of equity security of a domestic
			 stock insurance company or who is a director or officer of such company, who
			 has filed a Form I.S.S. with the department, and who has during any month had
			 any change in his beneficial ownership of any class of equity security of such
			 company. Any beneficial owner, director, or officer who is required to file a
			 statement on form C.S.S. with respect to any change in his beneficial ownership
			 of equity securities which occurs within six months after he became a
			 beneficial owner, director, or officer of such company shall include in the
			 first such statement the information called for by form C.S.S. with respect to
			 all changes in his beneficial ownership of equity securities of such company
			 which occurred within six months prior to the filing of such
			 statement.
(b) A statement on form
			 C.S.S. shall be filed by any person who has ceased to be such beneficial owner,
			 director, or officer of a domestic stock insurance company with respect to any
			 change in his beneficial ownership of equity securities of such company which
			 occurs on or after the date on which he ceased to be such beneficial owner,
			 director, or officer if such change occurs within six months after any change
			 in his beneficial ownership of such securities prior to such date.
(c) Statements on form C.S.S. which are
			 required to be filed shall be filed on or before the tenth day after the end of
			 each month in which any change in beneficial ownership has occurred. A separate
			 statement shall be filed with respect to the securities of each domestic stock
			 insurance company.
(4)
			 Any person who has ceased to be a beneficial owner, director, or officer of a
			 domestic stock insurance company shall give written notice to the
			 superintendent of insurance of the date on which he ceased to be such
			 beneficial owner, director, or officer within thirty days after said
			 date.