Ohio § 3964.13
Full text of Ohio Ohio Revised Code § 3964.13, with citation guidance and answers to common questions.
§ 3964.13.
(A)(1) Not later than the second day of March of each year, a captive insurance company
shall pay to the superintendent of insurance a fee computed in accordance with both
of the following: (a) 0.35 per cent on its net direct premiums; (b) 0.15 per cent on revenue from assumed reinsurance premiums. (2) The annual minimum aggregate fee to be paid by a captive insurance company calculated
under this division shall be seven thousand five hundred dollars. The annual maximum aggregate fee to be paid by a captive insurance company calculated
under this division shall be two hundred fifty thousand dollars. (B) The fee on reinsurance premiums set forth under division (A)(1)(b) of this section
shall not be levied on premiums for risks or portions of risks that are subject to
the fee under division (A)(1)(a) of this section. (C) A captive insurance company shall not pay any reinsurance fee pursuant to division
(A)(1)(b) of this section on revenue related to the receipt of assets by the captive
insurance company in exchange for the assumption of loss reserves and other liabilities
of another insurance company that is under common ownership and control with the captive
insurance company, if the transaction is part of a plan to discontinue the operation
of the other insurance company and the intent of the exchange is to renew or maintain
such business with the captive insurance company. (D)(1) The fee imposed in division (A) of this section shall be calculated on an annual
basis, notwithstanding policies, contracts, insurance, or contracts of reinsurance
issued on a multi-year basis. (2) In the case of multi-year policies or contracts, the premium shall be prorated for
purposes of determining the fee required under division (A) of this section. (E) All fees collected under this section shall be deposited into the state treasury
to the credit of the department of insurance operating fund.
Frequently Asked Questions About Ohio § 3964.13
What does Ohio Revised Code § 3964.13 cover?
Section 3964.13 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 § 3964.13?
A common citation format is "Ohio Revised Code § 3964.13" (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 § 3964.13 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.