Ohio § 3964.10
Full text of Ohio Ohio Revised Code § 3964.10, with citation guidance and answers to common questions.
§ 3964.10.
(A) The board of directors of a captive insurance company shall determine appropriate
investments for the company. With respect to all of the insurance company's investments, the board of directors
shall exercise the judgment and care, under the circumstances then prevailing, that
a person of reasonable prudence, discretion, and intelligence might exercise in the
management of a like enterprise, that person not having an intent to speculate, but
having regard for the permanent disposition of the person's funds, considering the
probable income as well as the probable safety of the person's capital. (B)(1) Investments shall be of sufficient value, liquidity, and diversity to assure the
captive insurance company's ability to meet its outstanding obligations, based on
reasonable estimations of new business production for current lines of business. A copy of the investment policy adopted by the board of directors shall be filed
with the superintendent. (2) If the superintendent determines that a board of directors of a captive insurance
company has failed to comply with the requirements of division (B)(1) of this section,
the company shall be notified in writing that it is required to file a schedule of
its proposed investments with the superintendent. (C)(1) No captive insurance company may make a loan to, or an investment in, its parent
company or affiliates without prior written approval of the superintendent. (2) Any such loan or investment shall be evidenced by documentation approved by the superintendent. (3) Loans that violate the minimum capital and surplus funds requirements of section 3964.05 of the Revised Code are prohibited.
Frequently Asked Questions About Ohio § 3964.10
What does Ohio Revised Code § 3964.10 cover?
Section 3964.10 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 § 3964.10?
A common citation format is "Ohio Revised Code § 3964.10" (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 § 3964.10 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.