Ohio Code § 3964.10
Ohio Code § 3964.10. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 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.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 3964.10
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
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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
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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 § 3964.10 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 § 3964.10 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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