Ohio Code 3903.17 – Basis for liquidation order
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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:
Terms Used In Ohio Code 3903.17
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- state: means the state of Ohio. See Ohio Code 1.59
(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.