Effective: September 4, 2014
Latest Legislation: Senate Bill 140 - 130th General Assembly
(A) An insurer investing under this chapter shall not invest in investments that are prohibited for an insurer by statute or rules of this state.
(B) An insurer investing under this chapter shall not invest in a partnership as a general partner.
(C) The superintendent shall set a reasonable amount of time, not to exceed five years, for disposal of a prohibited investment in hardship cases if the insurer demonstrates that the investment was legal when made or the result of a mistake made in good faith, or if the superintendent determines that the sale of the asset would be contrary to the interests of insureds, creditors, or the general public.
(D) Violation of division (A) of this section may be grounds for regulatory action pursuant to divisions (A) and (I) of section 3903.12 of the Revised Code.
Structure Ohio Revised Code
Chapter 3906 | Alternate Investment Law
Section 3906.01 | Definitions.
Section 3906.02 | Applicability.
Section 3906.03 | Alternative Minimum Financial Security Benchmarks.
Section 3906.04 | Rights of Insurer.
Section 3906.05 | Consideration of Relevant Factors.
Section 3906.06 | Investment Policy.
Section 3906.07 | Classes of Investment for Purposes of Minimum Asset Requirement.
Section 3906.08 | Determination of Minimum Asset Requirement.
Section 3906.09 | Payment in Different Currencies.
Section 3906.10 | Prohibited Investments.
Section 3906.11 | Minimum Asset Requirement.
Section 3906.12 | Derivative Use Plan.