Effective: March 7, 1983
Latest Legislation: House Bill 830 - 114th General Assembly
(A) Any court in this state, before which any action or proceeding in which the insurer is a party or is obligated to defend a party is pending when a rehabilitation order against the insurer is entered, shall stay the action or proceeding for ninety days and such additional time as is necessary for the rehabilitator to obtain proper representation and prepare for further proceedings. The rehabilitator shall take such action respecting the pending litigation as he considers necessary in the interests of justice and for the protection of creditors, policyholders, and the public. The rehabilitator shall immediately consider all litigation pending outside this state and shall petition the courts having jurisdiction over that litigation for stays whenever necessary to protect the estate of the insurer.
(B) No statute of limitations or defense of laches shall run with respect to any action by or against an insurer between the filing of a complaint for appointment of a rehabilitator for that insurer and the order granting or denying that complaint. Any action by or against the insurer that might have been commenced when the complaint was filed may be commenced for at least sixty days after the order of rehabilitation is entered or the complaint is denied.
(C) Any guaranty association or foreign guaranty association covering life or health insurance or annuities shall have standing to appear in any court proceeding concerning the rehabilitation of a life or health insurer if such association is or may become liable to act as a result of the rehabilitation.
Structure Ohio Revised Code
Chapter 3903 | Reserve Valuation; Rehabilitation and Liquidation
Section 3903.01 | Reserve Valuation - Rehabilitation and Liquidation Definitions.
Section 3903.02 | Citing of Act - Purpose of Act.
Section 3903.03 | Application of Sections.
Section 3903.04 | Jurisdiction.
Section 3903.05 | Temporary Restraining Orders - Injunctions.
Section 3903.06 | Duty of Persons Exercising Control to Cooperate With Superintendent.
Section 3903.07 | Responsibilities of Superintendent and Deputies.
Section 3903.08 | Effect on Pending Proceedings.
Section 3903.09 | Correction Orders Issued by Superintendent.
Section 3903.10 | Complaint - Court May Issue Ex Parte Seizure or Other Order.
Section 3903.11 | Confidentiality of Information - Exceptions.
Section 3903.12 | Grounds for Rehabilitation Order.
Section 3903.13 | Rehabilitation Orders.
Section 3903.14 | Employment of Special Deputies.
Section 3903.15 | Stay of Actions - Statute of Limitations - Standing.
Section 3903.16 | Motion for Order of Liquidation - Order Terminating Rehabilitation of Insurer.
Section 3903.17 | Basis for Liquidation Order.
Section 3903.18 | Liquidation Orders.
Section 3903.19 | Effect of Liquidation Order on Policies.
Section 3903.20 | Dissolution of Corporate Existence.
Section 3903.21 | Liquidator - Powers and Duties.
Section 3903.22 | Notice of Liquidation Order.
Section 3903.24 | Civil Action Against Liquidator or Insurer.
Section 3903.25 | Duplicate List of Insurer's Assets.
Section 3903.26 | Transfers and Obligations Incurred One Year Prior to Proceeding.
Section 3903.27 | Transfers Made After Filing of Complaint.
Section 3903.28 | Preferences.
Section 3903.29 | Allowance of Claims.
Section 3903.30 | Allowance of Setoffs and Counterclaims.
Section 3903.301 | Protection of Rights.
Section 3903.31 | Report of Liquidator to Court.
Section 3903.32 | Reducing Recovery From Reinsurer.
Section 3903.33 | Payment of Unpaid Earned Premiums.
Section 3903.35 | Proof of Claims to Be Filed With Liquidator.
Section 3903.36 | Proof of Claim Contents.
Section 3903.37 | Contingent Claims- Absolute Claims.
Section 3903.38 | Third Party-Party Claims.
Section 3903.39 | Written Notice of Denial of Claim.
Section 3903.40 | Claims Secured by Undertaking of Another Person.
Section 3903.41 | Methods of Determining Value of Security Held by Secured Creditor.
Section 3903.42 | Priority of Distribution of Claims.
Section 3903.421 | Medicaid Health Insuring Corporation Bond and Securities.
Section 3903.43 | Review and Investigation of Claims.
Section 3903.44 | Court Payment of Distributions.
Section 3903.45 | Distribution of Unclaimed and Withheld Funds.
Section 3903.46 | Discharge of Liquidator.
Section 3903.47 | Motion to Reopen Proceedings.
Section 3903.48 | Court to Direct Retention or Destruction of Insurer's Records.
Section 3903.49 | Audit of Books of Proceeding.
Section 3903.50 | Order Appointing Conservator.
Section 3903.51 | Order Directing Liquidation.
Section 3903.52 | Power of Domiciliary Liquidator.
Section 3903.53 | Appointing Ancillary Receiver.
Section 3903.54 | Discretion of Superintendent to Commence Proceedings.
Section 3903.55 | Foreign Claimants.
Section 3903.56 | Ohio Residents Claiming Against Foreign Insurers.
Section 3903.57 | Attachment, Garnishment or Execution Proceedings Blocked.
Section 3903.58 | Distribution Order Among Claimants From Reciprocal States.
Section 3903.59 | Failure to Transfer Assets to Ohio Liquidator by Ancillary Receiver.
Section 3903.71 | Unsound Company, Suspension of Authority to Do Business.
Section 3903.72 | Definitions for Sections 3903.72 to 3903.7211.
Section 3903.721 | Valuation of Reserves.
Section 3903.722 | Submission of Data Prior to Operative Date of Valuation Manual.
Section 3903.723 | Minimum Standards for the Valuation of Policies.
Section 3903.724 | Determination of Valuation Interest Rate.
Section 3903.725 | Valuation for Individual Annuity and Pure Endowment Contracts.
Section 3903.726 | Submissions Prior to Operative Date of Valuation Manual.
Section 3903.727 | Valuation for Accident and Health Insurance Contracts.
Section 3903.728 | Policies Issued on or After the Operative Date of the Valuation Manual.
Section 3903.729 | Established Reserves; Principle-Based Valuation.
Section 3903.7210 | Submission of Prescribed Data.
Section 3903.7211 | Confidential Information.
Section 3903.73 | Deposit of Securities With Treasurer of State.
Section 3903.74 | Sale and Distribution of Securities of Defaulting Companies.
Section 3903.75 | Notice to Claimants.
Section 3903.76 | Court Procedure.
Section 3903.77 | Property and Casualty Insurance Reporting Requirements.
Section 3903.81 | Risk-Based Capital for Insurers Model Act Definitions.
Section 3903.82 | Annual Report.
Section 3903.83 | Duty to Submit Plan.
Section 3903.84 | Regulatory Action Level Event Duties of Superintendent and Insurer.
Section 3903.85 | Authorized Control Level Event Duties of Superintendent and Insurer.
Section 3903.86 | Mandatory Control Level Event Duties of Superintendent and Insurer.
Section 3903.87 | Right to Request Hearing.
Section 3903.88 | Confidential Information.
Section 3903.89 | Effectiveness of Notice.
Section 3903.90 | Annual Report by Foreign Insurer.
Section 3903.91 | Regulatory Officials - Immunity.
Section 3903.92 | Requirements for Exempting Insurer From Sections.