Effective: September 17, 2014
Latest Legislation: House Bill 117 - 130th General Assembly
If a protected cell captive insurance company is liable for any penalty, under this chapter or otherwise, due to an act or the failure to act of a protected cell or an officer or director of a protected cell, then both of the following apply:
(A) The penalty shall only be met by the protected cell captive insurance company from the cell assets of the protected cell responsible.
(B) The penalty shall not be enforceable in any way against any other assets of the protected cell captive insurance company or assets of any other protected cell.
Structure Ohio Revised Code
Chapter 3964 | Captive Insurance Companies
Section 3964.01 | Definitions.
Section 3964.02 | Authorized Lines of Insurance.
Section 3964.03 | Organization.
Section 3964.05 | Capital Requirements.
Section 3964.06 | Extraordinary Distributions.
Section 3964.07 | Annual Reports.
Section 3964.08 | Examination, Evaluation, and Monitoring.
Section 3964.09 | Suspension or Revocation of License.
Section 3964.10 | Investments.
Section 3964.11 | Rating Organizations; Affiliation Not Required.
Section 3964.12 | Affiliation With Insolvency Fund Prohibited.
Section 3964.14 | Applicable Law.
Section 3964.15 | Captive Insurance Regulation and Supervision Fund.
Section 3964.17 | Protected Cell Captive Insurance Company.
Section 3964.172 | Transfer of Assets.
Section 3964.173 | Status of Owners and Participants.
Section 3964.174 | Transactional Liability.
Section 3964.175 | Liability for Penalty.
Section 3964.176 | Duties of Directors.
Section 3964.177 | Agreements Between Company and Protected Cell; Requirements; Failure to Comply.
Section 3964.179 | Transfer of Protected Cells.
Section 3964.18 | Liquidation.
Section 3964.191 | Grounds for Rehabilitation or Liquidation.
Section 3964.193 | Confidentiality of Information.