P&COhiomedium
Under R.C. 3901.32 et seq. (the Ohio Insurance Holding Company System Regulatory Act), a person seeking to acquire control of a domestic Ohio insurer generally must:
ANotify only the insurer's board of directors
File a Form A statement with the ODI Director and obtain prior approval
CRegister the transaction with the Ohio Secretary of State rather than the ODI
DPost a $250,000 deposit with the Ohio Treasurer
Why this is the answer
R.C. 3901.32 et seq. implements the NAIC Holding Company Model. Acquiring 10% or more of voting securities is presumed to be control and triggers a Form A pre-acquisition filing, public hearing rights, and ODI approval based on fairness, competence, and solvency factors.
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