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Ohio Rev. Code Ann. § 3903.17

Basis for liquidation order

Effective: March 7, 1983; Latest Legislation: House Bill 830 - 114th General Assembly

The superintendent of insurance may file a complaint in the court of common pleas for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this state on the basis of any one or more of the following:

(A) Upon any ground for an order of rehabilitation specified in section 3903.12 of the Revised Code, whether or not there has been a prior order directing the rehabilitation of the insurer;

(B) That the insurer is insolvent;

(C) That the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors, or the public.

Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.