Ohio § 3964.01

§ 3964.01.

As used in this chapter: (A) “ Affiliated company ” means any company in the same corporate system as a parent, or a member organization

by virtue of common ownership, control, operation, or management. (B) “ Captive insurance company ” means any insurer that insures only the risks of its parent or affiliated companies

of its parent.  “ Captive insurance company ” includes any protected cell captive insurance company formed or licensed under the

provisions of this chapter. (C) “ Department ” means the department of insurance. (D) “ Parent ” means a corporation, limited liability company, partnership, other entity, or individual

that directly or indirectly owns, controls, or holds, with power to vote, more than

fifty per cent of either of the following: (1) Securities of a captive insurance company, organized as a stock corporation; (2) Membership interests of a captive insurance company organized as a nonprofit corporation

or a limited liability company. (E) “ Protected cell captive insurance company ” means a captive insurance company organized pursuant to sections 3964.17 to 3964.1710 of the Revised Code . (F) “ Qualified actuary ” means an individual who is both of the following: (1) A member of the American academy of actuaries; (2) Qualified to provide such certifications as described in the United States qualifications

standards promulgated by the American academy of actuaries pursuant to the code of

professional conduct adopted by the American academy of actuaries, the society of

actuaries, the American society of pension professionals and actuaries, the casualty

actuarial society, and the conference of consulting actuaries. (G) “ Special purpose financial captive insurance company ” means a captive insurance company organized pursuant to sections 3964.19 to 3964.194 of the Revised Code . (H) “ Superintendent ” means the superintendent of the department of insurance.