Ohio Revised Code Search

...e department out of the first available money of the insurer. (B) The rehabilitator may take such action as the rehabilitator considers necessary or appropriate to reform and revitalize the insurer. The rehabilitator shall have all the powers of the directors, officers, and managers, whose authority shall be suspended, except as they are redelegated by the rehabilitator. The rehabilitator shall have full powe...

...nsfer of and any obligation to transfer money or other property from an insurer-member of a federal home loan bank to the federal home loan bank under a federal home loan bank security, pledge, collateral, or guarantee agreement, or other similar arrangement or credit enhancement, shall not be deemed fraudulent and shall not be avoided by the rehabilitator or liquidator under division (A) of this section if the agree...

...e claim shall not be allowed unless the money is paid or the property is delivered to the liquidator within thirty days from the date of the entering of the final judgment, except that the court having jurisdiction over the liquidation may allow further time if there is an appeal or other continuation of the proceeding. (B) A claim allowable under division (A) of this section by reason of the avoidance, whether volu...

...receiver shall not avoid a transfer of money or other property that is made before the commencement of a formal delinquency proceeding under sections 3903.01 to 3903.59 of the Revised Code and that arises under or in connection with either of the following: (a) A netting agreement or qualified financial contract; (b) Any pledge, security, collateral, or guarantee agreement or other similar security arrangement...

...irect: (1) By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditor; (2) By agreement, arbitration, compromise, or litigation between the creditor and the liquidator. (B) The determination shall be under the supervision and control of the court with due regard for the recommendation of the liquidator. The amount so determined shall be c...

...ble within a reasonable time sufficient moneys to meet promptly any demand which might in the ordinary course of business be properly made against it; (2) Any of its officers or directors have embezzled, sequestered, or wrongfully diverted any of its assets; (3) It has willfully violated its charter or any law of this state. If no demand for a hearing is made by the suspended company within thirty days after su...

...contract of insurance by any means, for money or its equivalent, on behalf of an insurer. (R) "Self-service storage facility" means an entity that is engaged in the business of providing real property designed and used for the purpose of renting or leasing individual storage space to the public who are to have access to the space for the purpose of storing and removing personal property on a self-service basis, but ...

...r substantially supported by public tax moneys. (2) "Municipal corporation" means all municipal corporations, including those that have adopted a charter under Article XVIII, Ohio Constitution.

...in accordance with the agency contract, moneys due to the insurer upon written demand of the insurer. (B) No insurer shall terminate an independent insurance agent contract of agency except by mutual agreement of the parties or upon one hundred eighty days' written notice to the independent insurance agent. (1) Such notice shall include specific reasons for the termination of the agent. (2) Such notice shall be se...

...ith judicial proceedings and to receive money or other things of value for those services. However, the holder shall not execute or deliver a bond during the first one hundred eighty days after the license is initially issued. This restriction does not apply with respect to license renewals or any license issued under divisions (B)(3) and (4) of this section. (D) The superintendent may refuse to renew a surety bail...

...a cashier's check, United States postal money order, certificate of deposit, or wire transfer. (4) The surety bail bond agent shall provide to the person giving the collateral security or other indemnity, a written, numbered receipt that describes in a detailed manner the collateral security or other indemnity received, along with copies of any documents rendered. (5) The collateral security or other indemnity shal...

...ion office listed mutual fund" means a money market mutual fund or short-term bond fund that is registered with the United States securities and exchange commission under the "Investment Company Act of 1940," 54 Stat. 789, 15 U.S.C. 80a-1 to 80a-64, and that has been determined by the securities valuation office to be eligible for special reserve and reporting treatment, rather than as common stock. (P) "Secur...

... (3) Other amounts reported as borrowed money. (D) Assets other than invested assets may be counted toward satisfaction of the minimum asset requirement at admitted annual financial statement value. However, loans to officers or directors or their immediate families shall not be counted toward the satisfaction of the minimum asset requirement. (E) An investment held as an admitted asset by an insurer on the e...

.... (L) The superintendent shall pay all moneys collected by the superintendent in accordance with this section into the state treasury to the credit of the department of insurance operating fund.

...charge for any benefit accruing, or for money payable under the contract, or to contract for the payment of a policy loan, or to contract for any policy change, provided he is fifteen years of age or older on the date he enters into any such contract or gives any such discharge.

...deration for insurance, the loan of any money, either directly or indirectly, or any contract for services; nor shall such company or person require as a condition of or in connection with the granting of a loan, that the applicant or borrower or any other person, either directly or indirectly, acquire a policy of life or accident and health insurance from any particular company, agent, or person. No person shall re...

...r" means a person who provides a sum of money as consideration for a policy or an interest in the death benefits of a policy from a viatical settlement provider that is the subject of a viatical settlement contract, or a person who owns, acquires, or is entitled to a beneficial interest in a trust or person that owns a viatical settlement contract or is the beneficiary of a policy that is the subject of a viatical se...

...n. The superintendent shall deposit the money into the state treasury to the credit of the department of insurance operating fund created by section 3901.021 of the Revised Code.

...eft, misappropriation, or conversion of moneys, funds, premiums, credits, or other property of a viatical settlement provider, insurer, insured, viator, policyowner, or any other person engaged in the business of viatical settlements or insurance; (6) Employing any plan, financial structure, device, scheme, or artifice to defraud in the business of viatical settlements; (7) Misrepresenting the state of residence ...

...all of the following: (a) Borrowers of money or purchasers or lessees of goods, services, or property for which payment is arranged through a credit transaction; (b) The debtors of one or more subsidiary corporations; (c) The debtors of one or more affiliated corporations, proprietorships, or partnerships if the business of the policyholder and of the affiliated corporations, proprietorships, or partnerships is un...

...o pay to members during life any sum of money or thing of value; (R) If so, how these payments or promises are provided for; (S) If by reserve, the amount of reserve; (T) From what source the reserve fund is obtained; (U) How it is invested; (V) What guarantee or security the certificate holders have for this reserve; (W) How many classes or divisions of endowment certificates or policies the association or com...

...o pay to members during life any sum of money, or thing of value, or certificate, or policy guaranteeing any fixed amount to be paid at death, except such fixed amounts or endowments which are conditioned upon their being realized from the assessments made on members to meet them, shall do business in this state until it complies with the laws regulating regular mutual life insurance companies.

...d for the payment of stipulated sums of money to the families, heirs, executors, administrators, or assigns of the deceased members of such corporation, company, or association as the members may direct, notwithstanding such corporation, company, or association may have been organized on the assessment plan and authorized by the laws governing it to issue policies insuring lives on the plan of assessment upon survivi...

...company shall credit upon its books all moneys received by it under this section and section 3919.33 of the Revised Code, that it will keep the funds separate and not use or interchange them for purposes other than those for which they were respectively collected, and that it will apply and pay out such funds to and for the purposes provided for in section 3919.33 of the Revised Code. When so executed and approved, t...

...No money or other benefit, charity, relief, or aid to be paid, provided, or rendered by any fraternal benefit society, shall be liable to attachment, garnishment, or other process, or shall be seized, taken, appropriated, or applied by any legal or equitable process or operation of law to pay any debt or liability of a member or beneficiary, or any other person who may have a right, either before or after payment by ...