Ohio § 1753.36 Mandatory control level event

Ohio Statutes

§ 1753.36 — Mandatory control level event

Ohio § 1753.36

Title 17Corporations-Partnerships

Ch. 1753Physician-health Plan Partnership Act; Risk-based Capital For Insurers Model Act

This text of Ohio § 1753.36 (Mandatory control level event) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 1753.36 (2026).

Text

(A)For purposes of sections1753.31to1753.43of the Revised Code, a "mandatory control level event" is any of the following events:

(1)The filing of an RBC report by a health insuring corporation that indicates that the health insuring corporation's total adjusted capital is less than its mandatory control level RBC;

(2)The notification by the superintendent of insurance to a health insuring corporation of an adjustment to the health insuring corporation's RBC report, which adjusted RBC report shows the health insuring corporation's total adjusted capital at less than its mandatory control level RBC, provided the health insuring corporation does not challenge the adjusted RBC report under section1753.37of the Revised Code;

(3)The notification by the superintendent to the health insuri

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(A) For purposes of sections1753.31to1753.43of the Revised Code, a "mandatory control level event" is any of the following events:

(1) The filing of an RBC report by a health insuring corporation that indicates that the health insuring corporation's total adjusted capital is less than its mandatory control level RBC;

(2) The notification by the superintendent of insurance to a health insuring corporation of an adjustment to the health insuring corporation's RBC report, which adjusted RBC report shows the health insuring corporation's total adjusted capital at less than its mandatory control level RBC, provided the health insuring corporation does not challenge the adjusted RBC report under section1753.37of the Revised Code;

(3) The notification by the superintendent to the health insuring corporation, following the hearing required under section1753.37of the Revised Code, that the superintendent has rejected the health insuring corporation's challenge to an adjusted RBC report.

(B) In the case of a mandatory control level event, the superintendent shall take such actions as are necessary to place the health insuring corporation under regulatory control under sections3903.01to3903.59of the Revised Code. The mandatory control level event shall be deemed sufficient grounds for the superintendent to take action under sections3903.01to3903.59of the Revised Code. Nothing in sections1753.31to1753.43of the Revised Code shall impair or restrict the rights, powers, and protections afforded to the superintendent and to health insuring corporations under sections3903.01to3903.59of the Revised Code. However, the superintendent may defer action under this division for up to ninety days after the mandatory control level event if the superintendent finds that there is a reasonable expectation the health insuring corporation may be able to eliminate the conditions leading to the mandatory control level event within the ninety-day period.