Ohio Code 3941.01 – Operation of mutual insurance company definitions
As used in sections 3941.01 to 3941.34, inclusive, of the Revised Code:
Terms Used In Ohio Code 3941.01
- Another: when used to designate the owner of property which is the subject of an offense, includes not only natural persons but also every other owner of property. See Ohio Code 1.02
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- state: means the state of Ohio. See Ohio Code 1.59
- United States: includes all the states. See Ohio Code 1.59
(A) “Company” includes corporations and associations.
(B) “Domestic” designates companies organized under the laws of this state.
(C) “Foreign” designates companies organized under the laws of another state or territory.
(D) “Alien” designates companies organized under the laws of any country other than the United States, or some state, province, or territory of such country.
(E) “Surplus” or “net assets” means the funds and assets, invested as required or permitted by the laws of the state, territory, or district where the company is organized, in excess of all liabilities including unearned premium reserve, but excluding from such assets all contingent liabilities of policyholders or members.