reglab/housing_qa huggingface dataset:
Ohio Rev Code § 3916.02 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.02 | Viatical Settlement Provider or Broker License.

Effective: December 10, 2008|Latest Legislation:  House Bill 404 - 127th General Assembly|(A) Notwithstanding division (C) of this section, no person shall operate in this state as a viatical settlement provider or viatical settlement broker without first having obtained a license from the superintendent of insurance and, if the owner of the policy to be viaticated is not a resident of this state, from the comparable official of the state of residence of the owner if that state issues licenses for viatical settlement providers or viatical settlement brokers. (B)(1) If there is more than one owner on a single policy and the owners are residents of different states, the viatical settlement contract shall be governed by the law of the state in which the owner having the largest percentage ownership of the policy resides or, if the owners hold equal ownership, the state of residence of one owner agreed upon in writing by all owners.(2) If the viator is a resident of this state, all agreements to be signed by the viator shall provide exclusive jurisdiction to courts of this state and the laws of this state shall govern the agreements. Nothing in the agreements shall abrogate the viator's right to a trial by jury.(C)(1) A person who represents the viator and is not compensated directly or indirectly by the viatical settlement provider or viatical settlement purchaser, who is licensed as an attorney, certified public accountant, or financial planner accredited by a nationally recognized accreditation agency may negotiate viatical settlement contracts on behalf of a viator without obtaining a license pursuant to division (A) of this section.(2) An individual insurance agent, in good standing, who has been licensed as a resident or nonresident insurance agent with a life line of authority in this state for at least five years may operate as a viatical settlement broker without obtaining a license pursuant to division (A) of this section if the viatical settlement broker activities of the insurance agent are incidental to the insurance agent's insurance business activities.
Ohio Rev Code § 3916.031 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.031 | Licensed Broker Business to Maintain Licensed Individual.

Effective: September 11, 2008|Latest Legislation:  House Bill 404 - 127th General Assembly|Any corporation, partnership, or other business that is licensed as a viatical settlement broker shall maintain at least one designated individual who is individually licensed as a viatical settlement broker to be responsible for the licensee's compliance with this chapter.
Ohio Rev Code § 3916.04 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.04 | Broker Deemed to Represent Viator - Fiduciary Duty.

Effective: October 5, 2001|Latest Legislation:  House Bill 551 - 123rd General Assembly|Irrespective of the manner in which the viatical settlement broker is compensated, a viatical settlement broker is deemed to represent only the viator and owes a fiduciary duty to the viator to act according to the viator's instructions and in the best interest of the viator.
Ohio Rev Code § 3916.05 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.05 | Forms to Be Approved by Superintendent - Fees.

Effective: September 11, 2008|Latest Legislation:  House Bill 404 - 127th General Assembly|(A) A person shall not use a viatical settlement contract form or provide a disclosure statement form to a viator in this state unless the viatical settlement contract form or the disclosure statement form is filed with and approved by the superintendent of insurance. The superintendent shall disapprove a viatical settlement contract form or a disclosure statement form if, in the superintendent's opinion, the viatical settlement contract form, the disclosure statement form, or any provision contained therein fails to meet the requirements of section 3916.06 of the Revised Code, is unreasonable, is contrary to the interests of the public, or is otherwise misleading or unfair to the viator. At the superintendent's discretion, the superintendent may require the submission of advertising material to which section 3916.17 of the Revised Code applies. If not disapproved by the superintendent, a filing made pursuant to this section shall be considered approved forty-five days after the contract form, disclosure form, or advertising material is filed. (B) Any insurance company that issues life insurance policies in this state shall include questions in its life insurance applications that are reasonably structured to identify and prevent stranger-originated life insurance. The superintendent shall adopt rules under Chapter 119. of the Revised Code for the implementation of this section. Each insurer shall file with the superintendent copies of its amended applications for life insurance within twelve months following the effective date of the superintendent's adoption of rules pursuant to this division.(C) The superintendent may adopt rules in accordance with Chapter 119. of the Revised Code to establish reasonable fees for any service or transaction performed by the department of insurance pursuant to division (A) of this section. Any fee collected pursuant to those rules shall be paid into the state treasury to the credit of the department of insurance operating fund created by section 3901.021 of the Revised Code.
Ohio Rev Code § 3916.08 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.08 | Right to Rescind Contract After Receipt of Proceeds.

Effective: October 5, 2001|Latest Legislation:  House Bill 551 - 123rd General Assembly|Each viatical settlement contract entered into in this state shall provide the viator with an unconditional right to rescind the contract for at least fifteen calendar days after the receipt of the viatical settlement proceeds. If the insured dies during the rescission period, the viatical settlement contract is deemed to have been rescinded, subject to repayment of all viatical settlement proceeds to the viatical settlement provider. If a viatical settlement contract is rescinded by the viator pursuant to this section, ownership of the insurance policy or certificate reverts to the viator or to the viator's estate if the viator is deceased, irrespective of any transfer of ownership of the policy or certificate by the viator, viatical settlement provider, or any other person.
Ohio Rev Code § 3916.09 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.09 | Independent Escrow Agent.

Effective: September 11, 2008|Latest Legislation:  House Bill 404 - 127th General Assembly|(A) The viatical settlement provider shall instruct the viator to send the executed documents required to effect the change in ownership, assignment, or change in beneficiary directly to the escrow agent. Within three business days after the date the escrow agent receives the documents, or from the date the viatical settlement provider receives the documents if the viator erroneously provides the documents directly to the viatical settlement provider, the viatical settlement provider shall pay or transfer the gross amount to be paid by the viatical settlement provider to the escrow agent for deposit in a trust or escrow account set up for that purpose by the escrow agent in a regulated financial institution. Upon payment of the settlement proceeds into the escrow or trust account, the escrow agent or trustee shall deliver the original change in ownership, assignment, or change in beneficiary forms to the viatical settlement provider, a representative of the viatical settlement provider, or related provider trust. Upon the escrow agent's receipt of the acknowledgment of the properly completed transfer of ownership, assignment, or designation of beneficiary from the insurance company, the escrow agent shall pay the settlement proceeds to the viator and any other person pursuant to the viatical settlement contract and the escrow agreement. The escrow agent shall make payment within three business days of the date the escrow agent received the acknowledged forms from the insurance company. Funds are considered sent to a viator as of the date that the escrow agent either releases the funds for wire transfer to the viator or places a check for delivery to the viator via United States postal service or other nationally recognized delivery service. (B) Failure to transfer the proceeds to the viator within the period of time disclosed pursuant to division (A)(1)(f) of section 3916.06 of the Revised Code renders the viatical settlement contract voidable by the viator for lack of consideration until the time consideration is tendered to and accepted by the viator. If a viatical settlement contract is voided by the viator pursuant to this division, ownership of the policy reverts to the viator or to the viator's estate if the viator is deceased, irrespective of any transfer of ownership of the policy by the viator, viatical settlement provider, or any other person.
Ohio Rev Code § 3916.10 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.10 | Limiting Contact With Insured After Settlement Has Occurred.

Effective: September 11, 2008|Latest Legislation:  House Bill 404 - 127th General Assembly|After a viatical settlement has occurred, contact with the insured for the purpose of determining the health status of the insured shall be made only by the viatical settlement provider, or the authorized representative of the viatical settlement provider. The viatical settlement provider, or authorized representative shall not contact the insured for the purpose of determining the insured's health status more than once every three months if the insured has a life expectancy of more than one year, or more than once per month if the insured has a life expectancy of one year or less. The viatical settlement provider shall explain the procedure for making these contacts at the time the viatical settlement contract is entered into. The limitations set forth in this section do not apply to contacts made with an insured under a viaticated policy for purposes other than to determine the insured's health status.Viatical settlement providers are responsible for the actions of their authorized representatives, for the purposes of this section except viatical settlement providers are not responsible for the actions of subsequent purchasers of a policy.
Ohio Rev Code § 3916.13 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.13 | Permitted Disclosures.

Effective: September 11, 2008|Latest Legislation:  House Bill 404 - 127th General Assembly|Except as otherwise permitted or required by law, a viatical settlement provider, viatical settlement broker, insurance company, insurance agent, insurance broker, information bureau, rating agency or company, or any other person with actual knowledge of a viator or an insured's identity, shall not disclose that identity, including the viator or insured's name and individual identification data, or the viator or insured's financial or medical information, unless any of the following apply: (A) The disclosure is necessary to effect a viatical settlement, and the viator and insured have provided prior written consent to the disclosure.(B) The disclosure is provided in response to an investigation or examination by the superintendent of insurance or by any other governmental officer or agency or pursuant to the requirements of division (C) of section 3916.18 of the Revised Code.(C) The disclosure is a term of, or condition to, the transfer of a viaticated policy by one viatical settlement provider to another viatical settlement provider.(D) The disclosure is necessary to permit a financing entity, related provider trust, or special purpose entity to finance the purchase of policies by a viatical settlement provider, and the viator and insured have provided prior written consent to the disclosure.(E) The disclosure is necessary to allow the viatical settlement provider or its authorized representatives to make contacts for the purpose of determining health status.(F) The disclosure is required to purchase stop-loss coverage or financial guaranty insurance.
Ohio Rev Code § 3916.14 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.14 | Examination by Superintendent.

Effective: September 11, 2008|Latest Legislation:  House Bill 404 - 127th General Assembly|(A)(1) The superintendent of insurance may conduct an examination under this chapter of a licensee as often as the superintendent in the superintendent's sole discretion considers appropriate. The superintendent shall consider all of the following to determine the nature, scope, and frequency of examinations: (a) Consumer complaints;(b) The results of financial statement analyses and ratios;(c) Any changes in ownership, officers, or directors;(d) Any report of independent certified public accountants;(e) Any other criteria the superintendent determines to be appropriate.(2) For the purposes of completing an examination of a licensee under this chapter, the superintendent may examine or investigate any person, or the business of any person, insofar as the examination or investigation, in the sole discretion of the superintendent, is necessary or material to the examination of the licensee.(3) In lieu of an examination under this chapter of any foreign or alien licensee licensed under this chapter, the superintendent, at the superintendent's discretion, may accept an examination report on the licensee as prepared by the official of the licensee's state of domicile or port-of-entry state who is comparable to the superintendent. As far as is practical, the superintendent shall cooperate with that official for any examination of a foreign or alien licensee.(B) The licensee or applicant shall pay to the superintendent all costs, assessments, forfeitures, or fines incurred in conducting an examination under this section. The superintendent shall deposit the money into the state treasury to the credit of the department of insurance operating fund created by section 3901.021 of the Revised Code.
Ohio Rev Code § 3916.172 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.172 | Transactions in Furtherance of Stranger-Originated Insurance Void.

Effective: September 11, 2008|Latest Legislation:  House Bill 404 - 127th General Assembly|Any contract, agreement, arrangement, or transaction including, but not limited to, any financing agreement or arrangement identified in section 1321.72 of the Revised Code entered into for the furtherance or aid of a stranger-originated life insurance act, practice, arrangement, or agreement is void and unenforceable.
Ohio Rev Code § 3916.173 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.173 | Trusts to Give Appearance of Insurable Interest Illegal.

Effective: September 11, 2008|Latest Legislation:  House Bill 404 - 127th General Assembly|Trusts or other persons that are created to give the appearance of insurable interest and are used to initiate one or more policies for investors violate insurable interest laws and the prohibition against wagering on life.
Ohio Rev Code § 3916.19 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.19 | Injunctions.

Effective: September 11, 2008|Latest Legislation:  House Bill 404 - 127th General Assembly|(A) In addition to the penalties and other enforcement provisions contained in this chapter, if any person violates any provision of this chapter or any rule or regulation implementing any provision of this chapter, the superintendent of insurance may seek an injunction in a court of competent jurisdiction and may apply for any temporary or permanent order that the superintendent determines is necessary to restrain the person from committing the violation. (B) Any person damaged by any act of a person in violation of any provision of this chapter may bring a civil action against the person committing the violation in a court of competent jurisdiction. A civil action brought under this division does not preclude the superintendent from exercising any regulatory, enforcement, or other authority available to the superintendent under this chapter.(C) In addition to the penalties and other enforcement provisions contained in this chapter, any person who violates any provision of this chapter is subject to a civil penalty of up to ten thousand dollars per violation. Imposition of civil penalties described in this division shall be pursuant to an order of the superintendent issued under Chapter 119. of the Revised Code. The superintendent's order may require a person found to be in violation of this chapter to make restitution to persons aggrieved by violations of this chapter.(D) Any transaction related to the sale or financing of an interest or investment in a viatical settlement is subject to Chapter 1707. of the Revised Code and the rules adopted thereunder. Nothing in this chapter shall preempt, supersede, or limit the application of Chapter 1707. of the Revised Code and the rules adopted thereunder.
Ohio Rev Code § 3916.20 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.20 | Rules.

Effective: September 11, 2008|Latest Legislation:  House Bill 404 - 127th General Assembly|The superintendent of insurance may adopt rules in accordance with Chapter 119. of the Revised Code for purposes of implementing this chapter, including, but not limited to, rules that do the following: (A) Govern the relationship and responsibilities of insurers, viatical settlement providers, and viatical settlement brokers during the viatication of a policy.(B) Establish standards for evaluating the reasonableness of payments under viatical settlement contracts for persons who are terminally or chronically ill. This authority includes, but is not limited to, the regulation of discount rates used to determine the amount paid in exchange for the assignment, release, transfer, sale, devise, or bequest of a benefit under a policy insuring persons who are terminally or chronically ill.(C) Establish appropriate licensing requirements, fees, and standards for continued licensure for viatical settlement providers and viatical settlement brokers.
Ohio Rev Code § 3916.21 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.21 | Prohibition.

Effective: October 5, 2001|Latest Legislation:  House Bill 551 - 123rd General Assembly|(A) No person shall fail to comply with this chapter.(B) Whoever violates division (A) of this section is deemed to have engaged in an unfair and deceptive act or practice in the business of insurance under sections 3901.19 to 3901.26 of the Revised Code.
Ohio Rev Code § 3916.99 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3916 | Viatical Settlements Model Act|Section 3916.99 | Penalty.

Effective: September 11, 2008|Latest Legislation:  House Bill 404 - 127th General Assembly|(A) Whoever violates section 3916.02 of the Revised Code is guilty of a felony of the third degree. (B) Whoever violates division (A) of section 3916.171 of the Revised Code is guilty of a violation of section 2913.02 of the Revised Code.
Ohio Rev Code § 3917.02 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3917 | Group Life Insurance|Section 3917.02 | Insurance Program Not Qualifying as Group Plan - Notice to Prospective Insureds.

Effective: November 16, 2005|Latest Legislation:  House Bill 193 - 126th General Assembly|(A) As used in this section:(1) "Direct response solicitation" means a solicitation through a sponsoring or endorsing entity through the mail, telephone, or other mass communication media.(2) "Sponsoring or endorsing entity" means an organization that has arranged for the offering of a program of insurance in a manner that communicates that eligibility for participation in the program is dependent upon affiliation with the organization or that the organization encourages participation in the program.(B) With respect to a program of life insurance that, if issued on a group basis, would not qualify as a policy of group life insurance under divisions (A) to (H) of section 3917.01 of the Revised Code, the insurer shall distribute a written notice to prospective insureds that compensation will or may be paid, if compensation of any kind will or may be paid, to one of the following persons:(1) A policyholder, or sponsoring or endorsing entity, in the case of a group policy;(2) A sponsoring or endorsing entity in the case of individual, blanket, or franchise policies marketed by means of a direct response solicitation.(C) The insurer shall distribute the notice required by this section whether the potential compensation is direct or indirect and whether the compensation is paid to or retained by the policyholder or sponsoring or endorsing entity or paid to or retained by a third party, or an entity affiliated with the third party by way of ownership, contract, or employment, at the direction of the policyholder or sponsoring or endorsing entity.(D) The notice required by this section shall be placed on or accompany an application or enrollment form provided to prospective insureds.
Ohio Rev Code § 3917.03 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3917 | Group Life Insurance|Section 3917.03 | Extension of Policy to Employee's or Member's Dependents.

Effective: November 16, 2005|Latest Legislation:  House Bill 193 - 126th General Assembly|Any life insurance policy issued pursuant to section 3917.01 of the Revised Code, except for a policy issued pursuant to division (B) of section 3917.01 of the Revised Code, may be extended to insure an employee's dependents or member's dependents, as defined by the policy, or any class or classes of dependents, subject to the following:(A) The premium for the insurance shall be paid either from the funds contributed by the employer, union, association, or other person to whom the policy has been issued, or from funds contributed by the covered persons, or from both. Except as provided in division (B) of this section, a policy on which no part of the premium for the dependent's coverage is derived from funds contributed by the covered persons shall insure the dependents of all eligible employees or members, or a class or classes of dependents.(B) A life insurer may exclude or limit the coverage on any dependent as to whom evidence of individual insurability is not satisfactory to the insurer.
Ohio Rev Code § 3917.05 (2021)
2021 Ohio Revised Code|Title 39 | Insurance|Chapter 3917 | Group Life Insurance|Section 3917.05 | Exemption of Policy Proceeds From Attachment.

Effective: October 1, 1953|Latest Legislation:  House Bill 1 - 100th General Assembly|No policy of group insurance, nor the proceeds thereof, when paid to any employee thereunder, is liable to attachment, garnishment, or other process, or to be seized, taken, appropriated, or applied by any legal or equitable process or operation of law, to pay any liability of such employee, his beneficiary, or any other person who may have a right thereunder, either before or after payment.