If a term used in this chapter is
defined in rule
of the Administrative Code, the definition in rule
of the Administrative Code is applicable to this chapter unless the term is
defined in this rule. As used in this chapter:
means cash or other assets or resources commonly identified as those which are
reasonably expected to be realized in cash or sold or consumed during the
normal operating cycle of a business.
liabilities" means obligations the liquidation of which is reasonably expected
to require either the use of existing resources properly classifiable as
current assets or the creation of other current liabilities.
means the total amount the insurer is obligated to pay under the policy.
"Local government" means a subdivision of the state of
Ohio including, but not limited to, a municipal corporation, a county, a
township, a single or joint county solid waste management district, or a solid
waste management authority.
"Net working capital" means current assets minus
"Net worth" means total assets minus total liabilities
and is equivalent to a person's equity.
"Parent corporation" means a corporation or the
ultimate corporation that directly owns at least fifty per cent of the voting
stock of the corporation that holds a permit or license issued in accordance
with applicable program chapters of the Administrative Code.
"Tangible net worth" means the tangible assets that
remain after deducting liabilities. For the purpose of this definition
"tangible assets" do not include such intangibles as goodwill and rights to
patents or royalties.
Ohio Admin. Code
Five Year Review (FYR) Dates:
Effective Dates: 04/02/2012
R.C. 119.032 review dates:
Statutory Authority: 3734.02, 3734.12
Amplifies: 3734.02, 3734.12