Ohio Code 3901.19 – Unfair and deceptive practices definitions
As used in sections 3901.19 to 3901.26 of the Revised Code:
Terms Used In Ohio Code 3901.19
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- 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
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- state: means the state of Ohio. See Ohio Code 1.59
- United States: includes all the states. See Ohio Code 1.59
(A) “Person” means any individual, corporation, association, partnership, reciprocal exchange, inter-insurer, fraternal benefit society, title guarantee and trust company, health insuring corporation, and any other legal entity.
(B) “Residents” includes any individual, partnership, or corporation.
(C) “Maternity benefits” means those benefits calculated to indemnify the insured for hospital and medical expenses fairly and reasonably associated with a pregnancy and childbirth.
(D) “Insurance” includes, but is not limited to, any policy or contract offered, issued, sold, or marketed by an insurer, corporation, association, organization, or entity regulated by the superintendent of insurance or doing business in this state. Nothing in any other section of the Revised Code shall be construed to exclude single premium deferred annuities from the regulation of the superintendent under sections 3901.19 to 3901.26 of the Revised Code.
(E) “Affiliate” means any company that controls, is controlled by, or is under common control with, another company.
(F) “Customer” means an individual who purchases, applies to purchase, or is solicited to purchase insurance products primarily for personal, family, or household purposes.
(G) “Depository institution” means a bank, savings bank, savings and loan association, or credit union that is subject to regulation or supervision by the United States or any state. “Depository institution” does not include an insurance company.
(H) “Insurance agent” or “agent” has the same meaning as in section 3905.01 of the Revised Code.
(I) “Insurer” has the same meaning as in section 3901.32 of the Revised Code.
(J) “Policy” or “certificate” means a contract of insurance, indemnity, medical, health or hospital service, suretyship, or annuity issued, proposed for issuance, or intended for issuance by any insurer.