Ohio § 3903.02

§ 3903.02.

(A) Sections 3903.01 to 3903.59 of the Revised Code may be cited as “the insurers supervision, rehabilitation, and liquidation act.” (B) Sections 3903.01 to 3903.59 of the Revised Code do not limit the powers granted the superintendent of insurance under any other section

of the Revised Code. (C) Sections 3903.01 to 3903.59 of the Revised Code shall be liberally construed to effect the purpose stated in division (D) of this

section. (D) The purpose of sections 3903.01 to 3903.59 of the Revised Code is the protection of the interests of insureds, claimants, creditors, and the public

generally, with minimum interference with the normal prerogatives of the owners and

managers of insurers, through all of the following: (1) Early detection of any potentially dangerous condition in an insurer, and prompt

application of appropriate corrective measures; (2) Improved methods for rehabilitating insurers, involving the cooperation and management

expertise of the insurance industry; (3) Enhanced efficiency and economy of liquidation, through clarification of the law,

to minimize legal uncertainty and litigation; (4) Equitable apportionment of any unavoidable loss; (5) Lessening the problems of interstate rehabilitation and liquidation by facilitating

cooperation between states in the liquidation process, and by extending the scope

of personal jurisdiction over debtors of the insurer outside this state; (6) Regulation of the insurance business by the impact of the law relating to delinquency

procedures and substantive rules on the entire insurance business.