Ohio § 3901.67
Full text of Ohio Ohio Revised Code § 3901.67, with citation guidance and answers to common questions.
§ 3901.67.
As used in sections 3901.67 to 3901.70 of the Revised Code : (A) “ Material acquisition ” means an acquisition, or a series of related acquisitions during any thirty-day
period, that is nonrecurring and not in the ordinary course of business and involves
more than five per cent of the reporting insurer's total admitted assets as reported
in its most recent statutory financial statement filed with the department of insurance. (B) “ Material disposition ” means a disposition, or a series of related dispositions during any thirty-day period,
that is nonrecurring and not in the ordinary course of business and involves more
than five per cent of the reporting insurer's total admitted assets as reported in
its most recent statutory financial statement filed with the department of insurance. (C) “ Material nonrenewal, cancellation, or revision of ceded reinsurance agreements ” means a nonrenewal, cancellation, or revision of ceded insurance that affects more
than fifty per cent of an insurer's ceded written premium, or more than fifty per
cent of an insurer's total ceded indemnity and loss adjustment reserves, for property
and casualty business, including accident and health business when written as such.
“ Material nonrenewal, cancellation, or revision of ceded reinsurance agreements ” also means a nonrenewal, cancellation, or revision of ceded insurance that affects
more than fifty per cent of the total reserve credit taken for business ceded for
life, annuity, and accident and health business, where the ceded written premium or
total reserve credit taken is calculated on an annualized basis as indicated in the
insurer's most recently filed statutory financial statement. A nonrenewal, cancellation, or revision of ceded insurance is not material for property
and casualty business, including accident and health business when written as such,
if the insurer's total ceded written premium represents, on an annualized basis, less
than ten per cent of its total written premium for direct and assumed business. A nonrenewal, cancellation, or revision of ceded insurance is not material for life,
annuity, and accident and health business, if the total reserve credit taken for business
ceded represents less than ten per cent of the statutory reserve requirements prior
to any cession.
Frequently Asked Questions About Ohio § 3901.67
What does Ohio Revised Code § 3901.67 cover?
Section 3901.67 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 3901.67?
A common citation format is "Ohio Revised Code § 3901.67" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 3901.67 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.