Effective: April 6, 2017
Latest Legislation: Senate Bill 273 - 131st General Assembly
(A)(1) Sections 3901.072 to 3901.078 of the Revised Code shall be known as the corporate governance annual disclosure act.
(2) Sections 3901.072 to 3901.078 of the Revised Code shall apply to all insurers domiciled in this state.
(3) Nothing in sections 3901.072 to 3901.078 of the Revised Code shall be construed to prescribe or impose corporate governance standards and internal procedures beyond those required under the corporate laws of this state. Notwithstanding the foregoing, nothing in those sections shall be construed to limit the superintendent's authority, or the rights or obligations of third parties, under section 3901.07 of the Revised Code.
(B) As used in this section and sections 3901.073 to 3901.078 of the Revised Code:
(1) "Corporate governance annual disclosure" or "CGAD" means a confidential report filed by an insurer or insurance group in accordance with the requirements of sections 3901.072 to 3901.078 of the Revised Code.
(2) "Insurance group" means those insurers and affiliates included within an insurance holding company system as defined in section 3901.32 of the Revised Code.
(3) "Insurer" has the same meaning as in section 3901.32 of the Revised Code.
(4) "NAIC" means the national association of insurance commissioners.
(5) "Superintendent" means the superintendent of insurance.