Ohio § 1751.28
Full text of Ohio Ohio Revised Code § 1751.28, with citation guidance and answers to common questions.
§ 1751.28.
(A)(1) Every health insuring corporation authorized to provide basic health care services,
which health insuring corporation is not a provider sponsored organization, shall
maintain total admitted assets equal to at least one hundred ten per cent of the liabilities
of the corporation. However, at no time shall the corporation's net worth be less than one million two
hundred thousand dollars. (2) Every health insuring corporation authorized to provide only supplemental health
care services shall maintain total admitted assets equal to at least one hundred ten
per cent of the liabilities of the corporation. However, at no time shall the corporation's net worth be less than five hundred
thousand dollars. (3) Every health insuring corporation authorized to provide only specialty health care
services shall maintain total admitted assets equal to at least one hundred ten per
cent of the liabilities of the corporation. However, at no time shall the corporation's net worth be less than two hundred fifty
thousand dollars. (4) Every health insuring corporation authorized to provide both basic health care services
and supplemental health care services, which health insuring corporation is not a
provider sponsored organization, shall maintain total admitted assets equal to at
least one hundred ten per cent of the liabilities of the corporation. However, at no time shall the corporation's net worth be less than one million seven
hundred thousand dollars. (5) Every health insuring corporation authorized to provide both basic health care services
and specialty health care services, which health insuring corporation is not a provider
sponsored organization, shall maintain total admitted assets equal to at least one
hundred ten per cent of the liabilities of the corporation. However, at no time shall the corporation's net worth be less than one million four
hundred fifty thousand dollars. (6) Every health insuring corporation authorized to provide basic health care services,
which health insuring corporation is a provider sponsored organization, shall maintain
total admitted assets equal to at least one hundred ten per cent of the liabilities
of the corporation. However, at no time shall the corporation's net worth be less than one million dollars. (7) Every health insuring corporation authorized to provide both basic health care services
and supplemental health care services, which health insuring corporation is a provider
sponsored organization, shall maintain total admitted assets equal to at least one
hundred ten per cent of the liabilities of the corporation. However, at no time shall the corporation's net worth be less than one million five
hundred thousand dollars. (8) Every health insuring corporation authorized to provide both basic health care services
and specialty health care services, which health insuring corporation is a provider
sponsored organization, shall maintain total admitted assets equal to at least one
hundred ten per cent of the liabilities of the corporation. However, at no time shall the corporation's net worth be less than one million two
hundred fifty thousand dollars. (B) The net worth otherwise required by this section shall be reduced by an amount representing
credit given to reserve liabilities when a health insuring corporation carries reinsurance
with an admitted reinsurer. However, such an amount shall not affect the minimum amounts set forth in this section
and section 1751.27 of the Revised Code . (C) A health insuring corporation may only consider those admitted assets in connection
with this section that are consistent with the forms, instructions, and manuals for
the preparation and reporting of statutory financial statements and other financial
information set forth in section 1751.47 of the Revised Code and any rules adopted under that section. (D) All health insuring corporations must comply with this section, as amended, for calendar
year 2004 and each calendar year thereafter.
Frequently Asked Questions About Ohio § 1751.28
What does Ohio Revised Code § 1751.28 cover?
Section 1751.28 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 § 1751.28?
A common citation format is "Ohio Revised Code § 1751.28" (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 § 1751.28 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.