Ohio Code § 3903.71
Ohio Code § 3903.71. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 3903.71.
If it appears to the superintendent of insurance upon satisfactory evidence that the
affairs of an insurance company, partnership, association, or reciprocal insurance
exchange, not organized under the laws of this state, are such that any of the following
conditions exist, the superintendent shall suspend the authority granted to such company
to do business in this state: (A) It cannot meet the current applicable requirements for incorporation and commencement
of the business of insurance in this state; (B) It has commenced, or has attempted to commence, any voluntary liquidation or dissolution
proceeding, or any proceeding to procure the appointment of a receiver, liquidator,
rehabilitor, sequestrator, conservator, or similar officer for itself; (C) It is the subject of liquidation or dissolution proceedings undertaken by another
state, or any other proceeding undertaken by another state to procure the appointment
of a receiver, liquidator, rehabilitor, sequestrator, conservator, or similar officer; (D) Its ratio of premium writings to surplus and capital are unreasonable as determined
by the superintendent of insurance; (E) Its further transaction of business would be hazardous to its policyholders, contract
holders, or the public as shown by the following conduct, but not necessarily limited
to only the following: (1) Its investments are made so as to make unavailable within a reasonable time sufficient
moneys to meet promptly any demand which might in the ordinary course of business
be properly made against it; (2) Any of its officers or directors have embezzled, sequestered, or wrongfully diverted
any of its assets; (3) It has willfully violated its charter or any law of this state. If no demand for a hearing is made by the suspended company within thirty days after
suspension, such suspension shall become a revocation of the authority to transact
the business of insurance in this state. Any such hearing shall be held in compliance with sections 119.01 to 119.13 of the Revised Code . If during such hearing, satisfactory evidence of any of the enumerated conditions
of this section is found to exist, the superintendent shall revoke the authority to
transact the business of insurance in this state.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 3903.71
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Ohio Revised Code. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Ohio attorney.
Common questions
What is the source of Ohio Revised Code § 3903.71?
The text above is transcribed from the Ohio Revised Code, the codified statutes of Ohio. The official publisher link appears under "Verify the text" on this page.
What subject does Ohio Revised Code § 3903.71 address?
It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
Is Ohio Revised Code § 3903.71 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Ohio source before relying on this text.
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