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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 3964.172 | Transfer of assets.

Ohio Revised Code
/
Title 39 Insurance
/
Chapter 3964 Captive Insurance Companies
 
Effective:
September 17, 2014
Latest Legislation:
House Bill 117 - 130th General Assembly
PDF:
Download Authenticated PDF
 

(A) No sale, exchange, or other transfer of assets may be made by a protected cell captive insurance company between or among any of its protected cells without the written consent of the participants of the protected cell and the superintendent.

(B)(1) No sale, exchange, transfer of assets, or distribution may be made from a protected cell to any person without the superintendent's prior written approval.

(2) The superintendent shall not give approval if the sale, exchange, transfer, or distribution would result in the insolvency or impairment of the protected cell in question.

Available Versions of this Section