Ohio Code 1753.42 – Requirements for exemption of domestic corporation
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The superintendent of insurance may exempt any domestic health insuring corporation from the application of sections 1753.31 to 1753.43 of the Revised Code, if the health insuring corporation meets all of the following requirements:
Terms Used In Ohio Code 1753.42
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- state: means the state of Ohio. See Ohio Code 1.59
(A) The health insuring corporation writes direct business in this state only.
(B) The health insuring corporation assumes no reinsurance in excess of five per cent of direct premium written.
(C) The health insuring corporation either:
(1) Writes direct annual premiums of two million dollars or less for basic health care services;
(2) Covers less than two thousand enrollees under policies, contracts, certificates, or agreements for supplemental health care services.