reglab/statecodes huggingface dataset:
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.484 | Establishing Criteria for Course or Program of Study for License Examination.

Effective:
December 19, 2016
Latest Legislation:
House Bill 471 - 131st General Assembly
(A) The superintendent of insurance shall establish criteria for any course or program of study that is offered in this state under section 3905.04 or sections 3905.481 to 3905.486 of the Revised Code.
(B) No course or program of study shall be offered in this state under section 3905.04 or sections 3905.481 to 3905.486 of the Revised Code unless it is approved by the superintendent.
(C) A course or program of study offered in this state under section 3905.04 or sections 3905.481 to 3905.486 of the Revised Code shall be developed or sponsored only by one of the following:
(1) An insurance company admitted to transact business in this state;
(2) An accredited college or university;
(3) An insurance trade association;
(4) An independent program of instruction that is approved by the superintendent;
(5) Any institution as defined in section 1713.01 of the Revised Code that holds a certificate of authorization issued by the Ohio board of regents under Chapter 1713. of the Revised Code or is exempt under that chapter from the requirements for a certificate of authorization.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.485 | Establishing Schedule of Fees for Course or Program of Study for License Examination.

Effective:
December 19, 2016
Latest Legislation:
House Bill 471 - 131st General Assembly
(A) The superintendent of insurance shall establish a schedule of fees to be paid to the superintendent by the sponsor of a course or program of study approved in accordance with division (B) of section 3905.484 of the Revised Code. The sponsor shall pay the required fee to the superintendent in accordance with rules adopted by the superintendent.
(B) All fees collected by the superintendent under division (A) of this section shall be credited to the department of insurance operating fund created in section 3901.021 of the Revised Code.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.486 | Adoption of Rules.

Effective:
December 19, 2016
Latest Legislation:
House Bill 471 - 131st General Assembly
The superintendent of insurance shall adopt rules in accordance with Chapter 119. of the Revised Code to carry out the purposes of sections 3905.04 and 3905.481 to 3905.486 of the Revised Code.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.49 | Prohibiting False Representation as Independent Agent.

Effective:
September 1, 2002
Latest Legislation:
Senate Bill 129 - 124th General Assembly
(A) As used in this section and section 3905.50 of the Revised Code, "independent insurance agent" means an insurance agent who is neither employed nor controlled solely by an insurer, whose agency contract with an insurer provides that upon termination of the contract, the ownership of the property rights of all expiration information vests in the agent or the agent's heirs or assigns, and whose agency contract with an insurer permits the agent to represent concurrently other insurers of the agent's choice.
(B) No agent other than an independent insurance agent shall represent self, or shall be represented, to the public as an independent insurance agent or agency.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.53 | Effect of Child Support Default on License.

Effective:
March 22, 2001
Latest Legislation:
Senate Bill 180 - 123rd General Assembly
On receipt of a notice pursuant to section 3123.43 of the Revised Code, the superintendent of insurance shall comply with sections 3123.41 to 3123.50 of the Revised Code and any applicable rules adopted under section 3123.63 of the Revised Code with respect to a license issued pursuant to this chapter.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.61 | Controlled Insurers Definitions.

Effective:
October 7, 1991
Latest Legislation:
Senate Bill 137 - 119th General Assembly
As used in sections 3905.61 to 3905.65 of the Revised Code:
(A) "Accredited state" means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established from time to time by the national association of insurance commissioners.
(B) "Captive insurer" means an insurer owned by another organization and whose exclusive purpose is to insure risks of the parent organization and affiliated companies or, in the case of groups and associations, insurers owned by the insureds and whose exclusive purpose is to insure risks of member organizations, group members, or affiliates of such member organizations or group members.
(C) "Control," including "controlling" and "controlled by," has the same meaning as in section 3901.32 of the Revised Code.
(D) "Controlled insurer" means an insurer that, directly or indirectly, is controlled by a producer.
(E) "Controlling producer" means a producer that, directly or indirectly, controls an insurer.
(F) "Insurer" means any person licensed to transact a property and casualty insurance business in this state. "Insurer" does not mean any of the following:
(1) Any risk retention group as defined in section 3960.01 of the Revised Code, the "Superfund Amendments and Reauthorization Act of 1986," 100 Stat. 1613, 42 U.S.C.A. 9671, or the "Product Liability Risk Retention Act of 1981," 95 Stat. 949, 15 U.S.C.A. 3901, as amended by the "Risk Retention Amendments of 1986," 100 Stat. 3170, 15 U.S.C.A. 3901;
(2) Any residual market pool or joint underwriting authority or association;
(3) Any captive insurer.
(G) "Producer" means an insurance broker or brokers or any other person, when, for any compensation, commission or anything of value, the broker or other person acts or aids in any manner in soliciting, negotiating, or procuring the making of any insurance contract on behalf of an insured other than such broker or other person.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.62 | Application of Sections.

Effective:
October 7, 1991
Latest Legislation:
Senate Bill 137 - 119th General Assembly
(A) Sections 3905.61 to 3905.65 of the Revised Code apply to insurers either domiciled in this state or in a state that is not an accredited state and does not have in effect a substantially similar law.
(B) Sections 3901.32 to 3901.37 of the Revised Code, to the extent they are not superseded by sections 3905.61 to 3905.65 of the Revised Code, apply to all persons within holding company systems that are subject to sections 3905.61 to 3905.65 of the Revised Code.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.64 | Notice to Prospective Insured by Controlling Producer.

Effective:
October 7, 1991
Latest Legislation:
Senate Bill 137 - 119th General Assembly
Each controlling producer, prior to the effective date of an insurance policy, shall deliver a written notice to the prospective insured that fully and completely discloses the controlling relationship between the producer and the controlled insurer. If the business is placed through a subproducer that is not in control of the insurer, the subproducer shall provide to the producer a signed statement that the subproducer is aware of the controlling relationship between the insurer and the producer and that the subproducer has disclosed or will disclose that relationship to the insured. The producer shall retain the statement in his records.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.65 | Remedies for Noncompliance.

Effective:
October 7, 1991
Latest Legislation:
Senate Bill 137 - 119th General Assembly
(A)(1) If the superintendent of insurance believes that a controlling producer or any other person has not materially complied with sections 3905.61 to 3905.65 of the Revised Code, or with any rule or order adopted or issued thereunder, the superintendent may, pursuant to a hearing conducted in accordance with Chapter 119. of the Revised Code, order the controlling producer to cease placing business with the controlled insurer.
(2) If, pursuant to the hearing held under division (A)(1) of this section, the superintendent finds that, due to the material noncompliance, the controlled insurer or any policyholder of the insurer has suffered any loss or damage, the superintendent may maintain a civil action or intervene in any action brought by or on behalf of the insurer or policyholder for recovery of compensatory damages for the benefit of the insurer or policyholder or other appropriate relief.
(B) If an order for liquidation or rehabilitation of the controlled insurer has been entered pursuant to Chapter 3903. of the Revised Code and the receiver appointed under that order believes that the controlling producer or any other person has not materially complied with sections 3905.61 to 3905.65 of the Revised Code, or any rule or order adopted or issued thereunder, and the insurer suffered any loss or damage as a result, the receiver may maintain a civil action for recovery of damages or any other appropriate sanction for the benefit of the insurer.
(C) Nothing in this section shall limit or restrict the imposition of any other remedy available to the superintendent or any other penalty applicable to the insurer.
(D) This section does not, in any way, alter or affect the rights of policyholders, claimants, creditors, or any other third party.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.71 | Managing General Agent Definitions.

Effective:
June 4, 1997
Latest Legislation:
Senate Bill 67 - 122nd General Assembly
As used in sections 3905.71 to 3905.79 of the Revised Code:
(A) "Actuary" means a person who is a member in good standing of the American academy of actuaries.
(B) "Insurer" means any person licensed to do business in this state under Chapter 1751. or 1761. of the Revised Code or Title XXXIX of the Revised Code.
(C) "Laws of this state relating to insurance" has the same meaning as in section 3901.04 of the Revised Code.
(D)(1) "Managing general agent" means any person that does all of the following:
(a) Manages all or part of the insurance business of an insurer, including the management of a separate division, department, or underwriting office, or negotiates and binds ceding reinsurance contracts on behalf of an insurer;
(b) Acts as an agent for the insurer, whether known as a managing general agent, manager, or other similar term;
(c) With or without the authority of the insurer, separately or together with affiliates, does both of the following:
(i) Produces, directly or indirectly, and underwrites an amount of gross direct written premium equal to or more than five per cent of the policyholder surplus of the insurer as reported in the last annual statement of the insurer in any one year;
(ii) Adjusts or pays claims, or negotiates reinsurance on behalf of the insurer.
(2) "Managing general agent" does not include any of the following:
(a) An employee of the insurer;
(b) A United States manager of the United States branch of an alien insurer;
(c) An underwriting manager that, pursuant to contract, manages all or a part of the insurance operations of the insurer, is under common control with the insurer, subject to sections 3901.32 to 3901.37 of the Revised Code, and whose compensation is not based on the volume of premiums written;
(d) The attorney authorized by and acting for the subscribers of a reciprocal insurer or inter-insurance exchange under powers of attorney;
(e) An administrator licensed pursuant to Chapter 3959. of the Revised Code whose activities on behalf of an insurer are limited to administrative services involving underwriting or the payment of claims, and do not include the management of all or part of the insurance business of the insurer.
(E) "Underwrite" or "underwriting" means the authority to accept or reject risk on behalf of an insurer.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.74 | Independent Financial Examination of Each Managing General Agent.

Effective:
August 8, 1991
Latest Legislation:
Senate Bill 137 - 119th General Assembly
(A) The insurer shall have on file, in a form acceptable to the superintendent of insurance, an independent financial examination of each managing general agent with which it has done business.
(B) If a managing general agent establishes loss reserves, the insurer annually shall obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the managing general agent. This annual opinion is in addition to any other required loss reserve certification.
(C) The insurer shall conduct not less frequently than twice a year an on-site review of the underwriting and claims processing operations of the managing general agent.
(D) Binding authority for all reinsurance contracts or participation in insurance or reinsurance syndicates shall be vested in an officer of the insurer who is not affiliated with the managing general agent.
(E) Within thirty days of entering into or terminating a contract with a managing general agent, the insurer shall provide written notification of the appointment or termination to the superintendent. Notices of appointment of a managing general agent shall include a statement of duties which the applicant is expected to perform on behalf of the insurer, the lines of insurance the applicant will manage, and any other information the superintendent may request.
(F) An insurer shall review its books and records each quarter to determine if any producer has become a managing general agent. If the insurer determines that a producer has become a managing general agent, the insurer, within sixty days, shall provide written notice of the determination to the producer and the superintendent. The insurer and producer shall comply with sections 3905.72 to 3905.75 of the Revised Code within thirty days of receipt of the notice.
(G) No insurer shall appoint to its board of directors its managing general agent or an officer, director, employee, producer, or controlling shareholder of its managing general agent.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.75 | Acts of Agent Deemed Acts of Insurer - Examinations.

Effective:
August 8, 1991
Latest Legislation:
Senate Bill 137 - 119th General Assembly
(A) The acts of a managing general agent are deemed to be the acts of the insurer on whose behalf it is acting.
(B) A managing general agent may be examined pursuant to section 3901.07 of the Revised Code as if it were the insurer. The managing general agent shall pay the expenses incurred in the conduct of the examination in accordance with section 3901.07 of the Revised Code.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.76 | Prohibition.

Effective:
August 8, 1991
Latest Legislation:
Senate Bill 137 - 119th General Assembly
No managing general agent, insurer, or other person shall violate, or fail to comply with, any provision of section 3905.72, 3905.73, 3905.74, or 3905.75 of the Revised Code.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.77 | Penalties for Violations.

Effective:
August 8, 1991
Latest Legislation:
Senate Bill 137 - 119th General Assembly
(A) If the superintendent of insurance, after a hearing conducted in accordance with Chapter 119. of the Revised Code, finds a violation of section 3905.76 of the Revised Code, the superintendent may order any of the following:
(1) For each separate violation committed by an insurer, managing general agent, or other person, a civil penalty in an amount of not more than one thousand dollars;
(2) For a violation committed by a managing general agent or the producer of the managing general agent, revocation or suspension of the license of the managing general agent or the license of the producer;
(3) For a violation committed by a managing general agent, reimbursement of the insurer or the rehabilitator or liquidator of the insurer by the managing general agent and by any officer, director, shareholder, or other representative or agent of the managing general agent who actually benefited from the violation, for any losses incurred by the insurer that were caused by the violation.
(B) All civil penalties collected pursuant to division (A)(1) of this section shall be paid into the state treasury to the credit of the department of insurance operating fund.
(C) Nothing in this section affects the authority of the superintendent to impose any other civil penalties or to initiate any other proceedings or remedies pursuant to the laws of this state.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.78 | Rights Not Limited or Restricted.

Effective:
August 8, 1991
Latest Legislation:
Senate Bill 137 - 119th General Assembly
Nothing in sections 3905.71 to 3905.79 of the Revised Code is intended, in any manner, to limit or restrict the rights of policyholders and claimants of any insurer on whose behalf a managing general agent is acting, or of auditors, accountants, examiners, or other persons that conduct examinations of insurers.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.79 | Rules.

Effective:
August 8, 1991
Latest Legislation:
Senate Bill 137 - 119th General Assembly
The superintendent of insurance may adopt rules in accordance with Chapter 119. of the Revised Code necessary to implement sections 3905.71 to 3905.79 of the Revised Code.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.83 | Surety Bail Bond Agent Definitions.

Effective:
October 9, 2001
Latest Legislation:
House Bill 730 - 123rd General Assembly
As used in sections 3905.83 to 3905.95 of the Revised Code:
(A) "Insurer" means any domestic, foreign, or alien insurance company that has been issued a certificate of authority by the superintendent of insurance to transact surety business in this state.
(B) "Managing general agent" means any person that is appointed or employed by an insurer to supervise or otherwise manage the bail bond business written in this state by surety bail bond agents appointed by the insurer.
(C) "Surety" means an insurer that agrees to be responsible for the fulfillment of the obligation of a principal if the principal fails to fulfill that obligation.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.84 | Surety Bail Bond Agent to Be Qualified, Licensed, and Appointed.

Effective:
January 1, 2021
Latest Legislation:
House Bill 339 - 133rd General Assembly
No person shall act in the capacity of a surety bail bond agent, or perform any of the functions, duties, or powers prescribed for surety bail bond agents under sections 3905.83 to 3905.95 of the Revised Code, unless that person is qualified, licensed, and appointed as provided in those sections.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.841 | Persons or Classes of Persons Not to Act as Agents.

Effective:
May 26, 2010
Latest Legislation:
House Bill 300 - 128th General Assembly
The following persons or classes of persons shall not act as surety bail bond agents or employees of a surety bail bond agent or bail bond business and shall not directly or indirectly receive any benefits from the execution of a bail bond, except as a principal:
(A) Jailers or other persons employed in a detention facility, as defined in section 2921.01 of the Revised Code;
(B) Prisoners incarcerated in any jail, prison, or any other place used for the incarceration of persons;
(C) Peace officers as defined in section 2921.51 of the Revised Code, including volunteer or honorary peace officers, or other employees of a law enforcement agency;
(D) Committing magistrates, judges, employees of a court, or employees of the clerk of any court;
(E) Attorneys or any person employed at an attorney's office;
(F) Any other persons having the power to arrest, or persons who have authority over or control of, federal, state, county, or municipal corporation prisoners.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.851 | No Imposition of Local Licensing Fees.

Effective:
October 9, 2001
Latest Legislation:
House Bill 730 - 123rd General Assembly
A surety bail bond agent qualified, licensed, and appointed in accordance with sections 3905.83 to 3905.95 of the Revised Code shall not be required to pay any licensing fee imposed by a political subdivision of this state to perform any of the functions, duties, or powers prescribed for surety bail bond agents under those sections.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.86 | Appointment of Agent by Insurer.

Effective:
May 26, 2010
Latest Legislation:
House Bill 300 - 128th General Assembly
(A) Any person licensed as a surety bail bond agent may be appointed by an insurer in accordance with this section.
(B) To appoint a surety bail bond agent as its agent, an insurer shall file a notice of appointment with the superintendent of insurance in the manner prescribed by the superintendent. All insurers shall pay to the superintendent a fee pursuant to division (A)(8) of section 3905.40 of the Revised Code for each such appointment when issued and for each continuance thereafter. Such an appointment, unless canceled by the insurer, may be continued in force past the thirtieth day of June next after its issue and after the thirtieth day of June of each succeeding year provided that the appointee is licensed and is eligible for the appointment.
Any fee collected under this division 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.
(C)(1) By appointing a surety bail bond agent, an insurer certifies to the superintendent that the person is competent, financially responsible, and suitable to represent the insurer.
(2) An insurer shall be bound by the acts of the person named in the appointment within that person's actual or apparent authority as its agent.
(D) A surety bail bond agent shall not represent to the public that the agent has authority to represent a particular insurer until the insurer has acknowledged that authority by appointment of the agent in accordance with this section.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.861 | Extending Appointments to Affiliated Agents.

Effective:
September 1, 2002
Latest Legislation:
Senate Bill 129 - 124th General Assembly
An insurer that appoints a surety bail bond agent who is a member of a business entity shall require that all other surety bail bond agents who are members of the same business entity be appointed to represent that insurer.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.862 | Expiration or Cancellation of Appointment; Fee.

Effective:
September 29, 2013
Latest Legislation:
House Bill 59 - 130th General Assembly
Upon the expiration or cancellation of a surety bail bond agent's appointment, the agent shall not engage or attempt to engage in any activity requiring such an appointment. However, an insurer that cancels the appointment of a surety bail bond agent may authorize the agent to continue to attempt the arrest and surrender of a defendant for whom a bail bond had been written prior to the cancellation and to seek discharge of forfeitures and judgments.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.87 | Registration of Agent With Court Clerks; List of Court-Registered Surety Bail Bond Agents.

Effective:
January 1, 2021
Latest Legislation:
House Bill 339 - 133rd General Assembly
(A) A surety bail bond agent shall not file a bond in any court of this state unless the agent is licensed and appointed under sections 3905.83 to 3905.95 of the Revised Code and has registered with the clerk of that court pursuant to division (B) of this section, if registration is required by the court.
(B) To register with a court, a surety bail bond agent shall file, with the clerk of the court, a copy of the agent's surety bail bond license, a copy of the agent's driver's license or state identification card, and a certified copy of the surety bail bond agent's appointment by power of attorney from each insurer that the surety bail bond agent represents. An agent shall renew the agent's registration biennially by the first day of April of each odd-numbered year.
(C) The clerk of the court shall make available a list of court-registered surety bail bond agents to the appropriate holding facility, jail, correction facility, or other similar entity within the court's jurisdiction annually not later than the first day of May. If an agent registers with a court after the last day of April, the court shall add that agent to the list and make the updated list available to the appropriate holding facility, jail, correction facility, or other similar entity within the court's jurisdiction within twenty-four hours of the court's approval of that registration.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.88 | Continuing Education.

Effective:
December 19, 2016
Latest Legislation:
House Bill 471 - 131st General Assembly
(A) Each individual who is issued a license as a resident surety bail bond agent shall complete at least seven hours of continuing education in each license renewal period. The continuing education shall be offered in a course or program of study related to the bail bond business that is approved by the superintendent of insurance and shall include at least one hour of approved ethics training.
(B) The superintendent shall not renew the license of any surety bail bond agent who fails to meet the requirements of division (A) of this section or whose application for renewal does not meet the requirements of section 3905.85 of the Revised Code.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.89 | Notice of Change of Principal Business Address or Telephone Number.

Effective:
May 26, 2010
Latest Legislation:
House Bill 300 - 128th General Assembly
Each person licensed under sections 3905.83 to 3905.95 of the Revised Code shall notify in writing the appropriate insurer or managing general agent, and the clerk of the court of common pleas of the county in which the licensee is registered, within thirty days after a change in the licensee's principal business address or telephone number.
This notification requirement is in addition to the notification requirements set forth in other provisions of this chapter.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.90 | Records of Surety Bonds to Be Maintained - Furnishing of Information.

Effective:
October 9, 2001
Latest Legislation:
House Bill 730 - 123rd General Assembly
Each surety bail bond agent shall maintain all records of surety bonds executed or countersigned by the surety bail bond agent for at least three years after the liability of the surety has been terminated. Those records shall be open, at all times, to examination, inspection, and photographic reproduction by any employee or agent of the department of insurance, or by any authorized representative of the insurer or managing general agent. The superintendent of insurance at any time may require the licensee to furnish to the department, in the manner and form that the superintendent requires, any information concerning the surety bond business of the licensee.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.901 | Determination of Direct Written Premiums for Bail Bonds.

Effective:
April 27, 2005
Latest Legislation:
House Bill 425 - 125th General Assembly
(A) As used in the annual statement of condition filed by a bail bond insurer with the department of insurance pursuant to section 3929.30 of the Revised Code, the direct written premiums for bail bonds written by an insurer shall be determined as the gross bail bond premiums less any amounts retained by surety bail bond agents. Notwithstanding the foregoing, the direct written premiums reported for bail bonds shall not be less than six and one-half per cent of the gross bail bond premiums received by the insurer's agents.
(B) Every bail bond insurer shall include the following information with the insurer's annual statement of condition filed with the department of insurance pursuant to section 3929.30 of the Revised Code:
(1) Bail bond premiums written prior to deducting the amounts retained by surety bail bond agents;
(2) Amounts withheld by surety bail bond agents as an expense, not reported as an expense by the insurer.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.91 | Build-Up Funds.

Effective:
October 9, 2001
Latest Legislation:
House Bill 730 - 123rd General Assembly
(A) All build-up funds posted by a surety bail bond agent or managing general agent, either with an insurer or managing general agent representing an insurer, shall be maintained in an individual build-up trust account for the surety bail bond agent by the insurer or the managing general agent. The insurer or managing general agent shall establish the account in a federally insured bank or savings and loan association in this state jointly in the name of the surety bail bond agent and the insurer or managing general agent, or in trust for the surety bail bond agent by the insurer or managing general agent. The account shall be open to inspection and examination by the department of insurance at all times. The insurer or managing general agent shall maintain an accounting of all of those funds, which accounting designates the amounts collected on each bond written.
(B) Build-up funds shall not exceed forty per cent of the premium as established by the surety bail bond agent's contract agreement with the insurer or managing general agent. Build-up funds received shall be immediately deposited to the build-up trust account. Interest earned on build-up trust accounts shall accrue to the surety bail bond agent.
(C) Build-up funds are due upon termination of the surety bail bond agent's contract and discharge of liabilities on the bonds for which the build-up funds were posted. The insurer or managing general agent shall pay the funds to the surety bail bond agent not later than six months after the funds are due.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.921 | Discharge of Bond Where Collateral Security or Other Indemnity Accepted.

Effective:
October 9, 2001
Latest Legislation:
House Bill 730 - 123rd General Assembly
(A) If collateral security or other indemnity is accepted on a bond, the surety bail bond agent, managing general agent, or surety shall make, upon demand, a written request to the court for a discharge of the bond to be delivered to the surety or the surety's agent.
If the obligation of the surety on the bond is released in writing by the court and a discharge is provided to the surety or the surety's agent, the collateral security or other indemnity, except a promissory note or an indemnity agreement, shall be returned, within twenty-one days after the discharge is provided, to the person that gave the collateral security or other indemnity, unless another disposition is provided for by legal assignment of the right to receive the collateral to another person. If, despite diligent inquiry by the surety or the surety's agent to determine that the bond has been discharged, the court fails to provide a written discharge within thirty days after the written request was made to the court, the bond shall be considered canceled by operation of law, and the collateral security or other indemnity, except a promissory note or an indemnity agreement, shall be returned, within twenty-one days after the written request for discharge was made to the court, to the person that gave the collateral security or other indemnity.
(B) No fee or other charge, other than those authorized by sections 3905.83 to 3905.95 of the Revised Code or by rule of the superintendent of insurance, shall be deducted from the collateral due. However, allowable expenses incurred in the apprehension of a defendant because of a forfeiture of bond or judgment may be deducted if those expenses are accounted for.
(C)(1) No person shall fail to return collateral security in accordance with this section.
(2) A violation of division (C)(1) of this section shall be punishable as follows:
(a) If the collateral is of a value of less than five hundred dollars, a violation is a misdemeanor of the first degree;
(b) If the collateral is of a value of at least five hundred dollars but less than five thousand dollars, a violation is a felony of the fifth degree;
(c) If the collateral is of a value of at least five thousand dollars but less than ten thousand dollars, a violation is a felony of the fourth degree;
(d) If the collateral is of a value of ten thousand dollars or more, a violation is a felony of the third degree.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.93 | Bail Bond - Charges and Fees.

Effective:
October 9, 2001
Latest Legislation:
House Bill 730 - 123rd General Assembly
A surety bail bond agent shall not execute a bail bond without doing both of the following:
(A) Charging the premium rate filed with and approved by the superintendent of insurance;
(B) Disclosing the expense fee that will be charged to cover the costs incurred by the agent in executing the bond.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.931 | Furnishing of Forms and Other Supplies.

Effective:
October 9, 2001
Latest Legislation:
House Bill 730 - 123rd General Assembly
(A) No insurer, managing general agent, or surety bail bond agent shall furnish to any person any blank form, application, stationery, business card, or other supplies to be used in soliciting, negotiating, or effecting bail bonds unless the person is licensed to act as a surety bail bond agent and is appointed by an insurer. This division does not prohibit an unlicensed employee, under the direct supervision and control of a licensed and appointed surety bail bond agent, from possessing or executing in the surety bond office, any form, other than a power of attorney, bond form, or collateral receipt, while acting within the scope of the employee's employment.
(B) An insurer that furnishes any of the supplies mentioned in division (A) of this section to any surety bail bond agent or other person not appointed by an insurer and that accepts any bail bond business from or writes any bail bond business for that surety bail bond agent or other person is liable on the bond to the same extent and in the same manner as if the surety bail bond agent or other person had been appointed or authorized by an insurer to act in its behalf.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.933 | Signing or Countersigning Agent's Name to a Bond.

Effective:
October 9, 2001
Latest Legislation:
House Bill 730 - 123rd General Assembly
(A) A surety bail bond agent shall not sign or countersign in blank any bond, or give a power of attorney to, or otherwise authorize, anyone to countersign the surety bail bond agent's name to a bond unless the person so authorized is a licensed and appointed surety bail bond agent directly employed by the surety bail bond agent giving that authority.
(B) A surety bail bond agent shall not divide with any other person, or share in, any commissions payable on account of a bail bond, except as between other surety bail bond agents that are licensed or otherwise qualified to engage in the bail bond business in their state of domicile.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.934 | Advertising Requirements.

Effective:
October 9, 2001
Latest Legislation:
House Bill 730 - 123rd General Assembly
(A) A surety bail bond agent shall not make, publish, or otherwise disseminate, directly or indirectly, any misleading or false advertisement, or engage in any other deceptive trade practice.
(B) All advertising by a surety bail bond agent shall include the address of record of the agent on file with the department of insurance.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.94 | License Suspension or Revocation.

Effective:
September 1, 2002
Latest Legislation:
Senate Bill 129 - 124th General Assembly
If the superintendent of insurance, in accordance with section 3905.14 of the Revised Code, suspends or revokes a person's license as a surety bail bond agent, the person, during the period of suspension or revocation, shall not be employed by any surety bail bond agent, have any ownership interest in any business involving bail bonds, or have any financial interest of any type in any bail bond business.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.941 | Designation of Successor Agent.

Effective:
October 9, 2001
Latest Legislation:
House Bill 730 - 123rd General Assembly
Upon the surrender, suspension, or revocation of a surety bail bond agent's license, the appointing insurer or managing general agent immediately shall designate a licensed and appointed surety bail bond agent to administer all bail bonds previously written by the licensee.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.95 | Rules.

Effective:
October 9, 2001
Latest Legislation:
House Bill 730 - 123rd General Assembly
The superintendent of insurance shall adopt, in accordance with Chapter 119. of the Revised Code, any rules necessary to implement sections 3905.83 to 3905.95 of the Revised Code.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3905 | Insurance Producers Licensing Act › Section 3905.99 | Penalty.

Effective:
September 1, 2002
Latest Legislation:
Senate Bill 129 - 124th General Assembly
(A) Whoever violates section 3905.182 of the Revised Code shall be fined not less than twenty-five nor more than five hundred dollars or imprisoned not more than six months, or both.
(B) Whoever violates section 3905.31 or 3905.33 of the Revised Code shall be fined not less than twenty-five nor more than five hundred dollars or imprisoned not more than one year, or both.
(C) Whoever violates section 3905.37 or 3905.43 of the Revised Code shall be fined not less than one hundred nor more than five hundred dollars.
(D) Whoever violates section 3905.02, division (F) of section 3905.92, or division (A) of section 3905.931 of the Revised Code is guilty of a misdemeanor of the first degree.
(E) Whoever violates section 3905.84 of the Revised Code is guilty of a misdemeanor of the first degree on a first or second offense and of a felony of the third degree on each subsequent offense.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3906 | Alternate Investment Law › Section 3906.02 | Applicability.

Effective:
September 4, 2014
Latest Legislation:
Senate Bill 140 - 130th General Assembly
(A) This chapter, and any rules adopted under it, apply to entities organized under Chapters 1731., 1751., 3907., 3919., 3921., 3925., 3931., 3939., 3941., and 3953. of the Revised Code.
(B) An insurer may apply to the superintendent for permission to make investments under this chapter, in lieu of making investments under any other section of the Revised Code.
(C) In determining whether to permit an entity to invest pursuant to this chapter, the superintendent shall consider all of the following:
(1) The character, reputation, and financial standing of the officers of the entity;
(2) The character, reputation, and financial condition of the entity;
(3) The adequacy of the expertise, experience, character, and reputation of the person or persons who will manage the investments on behalf of the entity;
(4) The quality of the enterprise risk management program implemented by the entity to identify, assess, monitor, manage, and report on its key investment and related risks;
(5) Any other factor the superintendent considers relevant.
(D) Separate accounts established in accordance with section 3907.15 of the Revised Code shall continue to be governed by that section.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3906 | Alternate Investment Law › Section 3906.04 | Rights of Insurer.

Effective:
September 4, 2014
Latest Legislation:
Senate Bill 140 - 130th General Assembly
(A) Subject to this chapter, an insurer making investments under this chapter may loan or invest its funds, and may buy, sell, hold title to, possess, occupy, pledge, convey, manage, protect, insure, and deal with its investments, property, and other assets to the same extent as any other person or corporation under the laws of this state and of the United States.
(B) With respect to all of the insurer's investments, the board of directors of an insurer making investments under this chapter shall exercise the judgment and care, under the circumstances then prevailing, that persons of reasonable prudence, discretion, and intelligence would exercise in the management of a like enterprise, not in regard to speculating but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital. Investments shall be of sufficient value, liquidity, and diversity to assure the insurer's ability to meet its outstanding obligations based on reasonable assumptions as to new business production for current lines of business. As part of its exercise of judgment and care, the board of directors shall take into account the prudence evaluation criteria of division (C) of section 3906.05 of the Revised Code. The exercise of judgment and care by the board of directors under this section shall also be governed by sections 1701.59 and 1702.30 of the Revised Code, as applicable.
(C) An insurer making investments under this chapter shall establish and implement internal controls and procedures to assure compliance with investment policies and procedures to assure that all of the following are met:
(1) The insurer's investment staff and any consultants used are reputable and capable.
(2) A periodic evaluation and monitoring process occurs for assessing the effectiveness of investment policy and strategies.
(3) Management's performance is assessed in meeting the stated objectives within the investment policy through periodic presentations to the board of directors.
(4) Appropriate analyses are undertaken on the degree to which asset cash flows are adequate to meet liability cash flows under different economic environments. These analyses shall be conducted at least annually and make specific reference to the economic conditions considered.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3906 | Alternate Investment Law › Section 3906.05 | Consideration of Relevant Factors.

Effective:
September 4, 2014
Latest Legislation:
Senate Bill 140 - 130th General Assembly
(A) An insurer making investments under this chapter shall consider the factors listed in division (C) of this section along with its business in determining whether an investment portfolio or investment policy is prudent.
(B) The superintendent shall consider the factors listed in division (C) of this section prior to making a determination that an insurer's investment portfolio or investment policy is not prudent.
(C) Insurers and the superintendent shall consider the following factors according to divisions (A) and (B) of this section:
(1) General economic conditions;
(2) The possible effect of inflation or deflation;
(3) The expected tax consequences of investment decisions or strategies;
(4) The fairness and reasonableness of the terms of an investment considering its probable risk and reward characteristics and relationship to the investment portfolio as a whole;
(5) The extent of the diversification of the insurer's investments among all of the following:
(a) Individual investments;
(b) Classes of investments;
(c) Industry concentrations;
(d) Dates of maturity;
(e) Geographic areas.
(6) The quality and liquidity of investments in affiliates;
(7) The investment exposure to all of the following risks, quantified in a manner consistent with the insurer's acceptable risk level as described in the insurer's written investment policy, required under division (H) of section 3906.06 of the Revised Code:
(a) Liquidity;
(b) Credit and default;
(c) Systemic or market;
(d) Interest rate;
(e) Call, prepayment, and extension;
(f) Currency;
(g) Foreign sovereign.
(8) The amount of the insurer's assets, capital and surplus, premium writings, insurance in force, and other appropriate characteristics;
(9) The amount and adequacy of the insurer's reported liabilities;
(10) The relationship of the expected cash flows of the insurer's assets and liabilities, and the risk of adverse changes in the insurer's assets and liabilities;
(11) The adequacy of the insurer's capital and surplus to secure the risks and liabilities of the insurer;
(12) Any other factors relevant to whether an investment is prudent.
2023 Ohio Revised Code › Title 39 | Insurance › Chapter 3906 | Alternate Investment Law › Section 3906.06 | Investment Policy.

Effective:
September 4, 2014
Latest Legislation:
Senate Bill 140 - 130th General Assembly
In acquiring, investing, exchanging, holding, selling, and managing investments under this chapter, an insurer shall establish and follow a written investment policy that shall be reviewed and approved by the insurer's board of directors on at least an annual basis. The content and format of an insurer's investment policy are at the insurer's discretion, but shall include written guidelines appropriate to the insurer's business with regard to all of the following:
(A) The general investment policy of the insurer, containing policies, procedures, and controls covering all aspects of the investing function;
(B) Quantified goals and objectives regarding the composition of classes of investments, including maximum internal limits;
(C) Periodic evaluations of the investment portfolio as to its risk and reward characteristics;
(D) Professional standards for the individuals making day-to-day investment decisions to assure that investments are managed in an ethical, prudent, and capable manner;
(E) The types of investments that are allowed and that are prohibited, based on their risk and reward characteristics and the insurer's level of experience with the investments;
(F) The relationship of classes of investments to the insurer's insurance products and liabilities;
(G) The manner in which the insurer intends to implement section 3906.05 of the Revised Code;
(H) The level of risk, based on quantitative measures, appropriate for the insurer given the level of capitalization and expertise available to the insurer.