Effective: September 13, 2022
Latest Legislation: Senate Bill 273 - 134th General Assembly
(A) The board of directors of the Ohio life and health insurance guaranty association shall consist of not less than nine nor more than eleven member insurers serving terms as established in the plan of operation. A majority of the members of the board shall be representatives of member insurers domiciled in this state. Three of the members of the board shall be representatives of the three member insurers that write the largest premium volumes of health insurance in this state, three of the members of the board shall be representatives of domestic life insurers, and three of the members of the board shall be representatives of foreign member insurers. The members of the board shall be selected by member insurers, subject to the approval of the superintendent of insurance. Vacancies on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members, subject to the approval of the superintendent. To select the initial board of directors and initially organize the association, the superintendent shall give notice to all member insurers of the time and place of the organizational meeting. In determining voting rights at the organizational meeting, each member insurer shall be entitled to one vote in person or by proxy. If the board of directors is not selected within sixty days after notice of the organizational meeting, the superintendent may appoint the initial members.
(B) In approving selections or in appointing members to the board, the superintendent shall consider, among other things, whether all member insurers are fairly represented.
(C) Members of the board may be reimbursed from the assets of the association for reasonable expenses incurred by them as members of the board of directors, but members of the board shall not otherwise be compensated by the association for their services.
Last updated July 15, 2022 at 11:20 AM
Structure Ohio Revised Code
Chapter 3956 | Life and Health Insurance Guaranty Association
Section 3956.01 | Life and Health Insurance Guaranty Association Definitions.
Section 3956.02 | Citing Chapter.
Section 3956.03 | Purpose of Chapter.
Section 3956.04 | Association Coverage and Liability.
Section 3956.05 | Liberal Construction of Chapter.
Section 3956.06 | Ohio Life and Health Insurance Guaranty Association Created.
Section 3956.07 | Board of Directors.
Section 3956.08 | Duties as to Impaired or Insolvent Member Insurer.
Section 3956.09 | Member Assessments.
Section 3956.10 | Plan of Operation and Amendments.
Section 3956.12 | Detection and Prevention of Insurer Insolvencies or Impairments.
Section 3956.14 | Examination and Regulation by Superintendent - Annual Financial Report.
Section 3956.15 | Exemption From Fees and Taxes.
Section 3956.17 | Proceedings Involving Insolvent Insurer.
Section 3956.18 | Advertising Prohibitions - Summary Document.
Section 3956.19 | Applicability of Prior Law and Current Law.
Section 3956.20 | Offset of Assessments Against Premium or Franchise Tax Liability.