Ohio § 3929.011

§ 3929.011.

(A)(1) As a condition of the issuance of a certificate of authority to transact in this

state any of the kinds of insurance set forth in divisions (A)(1) to (4), (6), (7),

(10) to (13), (16), (17), (18), and (21) to (24) of section 3929.01 of the Revised

Code, each stock insurance company shall have and maintain capital and surplus in

the aggregate amount of not less than two million five hundred thousand dollars, which

amount shall include paid-in-capital of not less than one million dollars and contributed

surplus of not less than one million dollars. (2) As a condition of the issuance of a certificate of authority to transact in this

state any of the kinds of insurance set forth in divisions (A)(1) to (4), (6), (7),

(10) to (13), (16), (17), (18), and (21) to (24) of section 3929.01 of the Revised

Code, each insurance company other than a stock insurance company shall have and maintain

surplus in the total amount of not less than two million five hundred thousand dollars. (B)(1) As a condition of the issuance of a certificate of authority to transact in this

state any of the kinds of insurance set forth in divisions (A)(5), (8), (9), (14),

(15), (19), (20), and (26) of section 3929.01 of the Revised Code, each stock insurance

company shall have and maintain capital and surplus in the aggregate amount of not

less than five million dollars, which amount shall include paid-in-capital of not

less than one million dollars and contributed surplus of not less than one million

dollars. (2) As a condition of the issuance of a certificate of authority to transact in this

state any of the kinds of insurance set forth in divisions (A)(5), (8), (9), (14),

(15), (19), (20), and (26) of section 3929.01 of the Revised Code, each insurance

company other than a stock insurance company shall have and maintain surplus in the

total amount of not less than five million dollars. (C)(1) As a condition of the issuance of a certificate of authority to transact in this

state the kind of insurance described in division (A)(25) of section 3929.01 of the Revised Code , each stock insurance company shall have and maintain capital and surplus in the

aggregate amount of not less than ten million dollars, which amount shall include

paid-in-capital of not less than one million dollars and contributed surplus of not

less than one million dollars. (2) As a condition of the issuance of a certificate of authority to transact in this

state the kind of insurance described in division (A)(25) of section 3929.01 of the Revised Code , each insurance company other than a stock insurance company shall have and maintain

surplus in the total amount of not less than ten million dollars. (D)(1) As a condition of the issuance of a certificate of authority to transact the business

of insurance in this state, each stock insurance company that assumes reinsurance

and transacts any of the kinds of insurance set forth in division (A) of section 3929.01 of the Revised Code shall have and maintain capital and surplus in the aggregate amount of not less than

ten million dollars, which amount shall include paid-in-capital of not less than one

million dollars and contributed surplus of not less than one million dollars. (2) As a condition of the issuance of a certificate of authority to transact the business

of insurance in this state, each insurance company other than a stock insurance company

that assumes reinsurance and transacts any of the kinds of insurance set forth in division (A) of section 3929.01 of the Revised Code shall have and maintain surplus in the total amount of not less than ten million

dollars. (3) Divisions (D)(1) and (2) of this section do not apply to any insurance company that

transacts any of the kinds of insurance set forth in division (A) of section 3929.01 of the Revised Code and that assumes reinsurance only under any of the following circumstances: (a) Pursuant to a pooling arrangement among members of the same insurance holding company

system; (b) Pursuant to a requirement of any law, rule, or regulation; (c) If, as of the immediately preceding thirty-first day of December, the aggregate amount

of assumed premiums, except those with respect to reinsurance assumed under division

(D)(3)(a) or (b) of this section, for that calendar year is less than five hundred

thousand dollars. (E)(1) Except as provided in divisions (E)(2) and (3) of this section, as a condition of

the renewal of its certificate of authority to transact in this state any of the kinds

of insurance set forth in division (A) of section 3929.01 of the Revised Code , each mutual fire insurance association that, prior to the effective date of this

section, reorganized as a mutual fire insurance company pursuant to section 3939.10 of the Revised Code shall have and maintain surplus in the total amount of not less than two million

five hundred thousand dollars. (2) If such a company attains the applicable total surplus required under division (B)(2),

(C)(2), or (D)(2) of this section, the company, as a condition of the renewal of its

certificate of authority to transact that kind of insurance in this state, shall continue

to have and maintain the total surplus set forth in that division. (3) If, as a result of any of the actions described in division (B)(1) of section 3901.321 of the Revised Code , control of such a company is obtained by another person, the company, as a condition

of the renewal of its certificate of authority under division (B)(2), (C)(2), or (D)(2)

of this section, shall have and maintain the total surplus set forth in that division

of this section. (F) This section applies only to the issuance or renewal of certificates of authority

to transact the business of insurance in this state on or after the effective date

of this section.