P&COhiomedium
An Ohio-domiciled P&C insurer is found financially impaired. Under R.C. Chapter 3903, what is the typical first formal court-supervised remedy the ODI Director seeks?
AImmediate Chapter 7 bankruptcy in federal court
BForced merger with an out-of-state guaranty fund association
Rehabilitation, with the Director as rehabilitator
DConservatorship by the Ohio FAIR Plan
Why this is the answer
Ohio's insurer receivership scheme in R.C. Chapter 3903 provides a tiered process: rehabilitation, then liquidation if rehabilitation is not feasible. The Director petitions the court and is appointed receiver.
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