2006 Ohio Revised Code - 3905.06. Requirements for issuance of license; contents; lines of authority.

§ 3905.06. Requirements for issuance of license; contents; lines of authority.
 

(A) (1)  The superintendent of insurance shall issue a resident insurance agent license to an individual applicant whose home state is Ohio, if the superintendent finds all of the following: 

(a) The applicant is at least eighteen years of age. 

(b) The applicant has not committed any act that is a ground for the denial, suspension, or revocation of a license under section 3905.14 of the Revised Code. 

(c) If required under section 3905.04 of the Revised Code, the applicant has completed a program of insurance education for each line of authority for which the applicant has applied. 

(d) If required under section 3905.04 of the Revised Code, the applicant has passed an examination for each line of authority for which the applicant has applied. 

(e) The applicant is of good reputation and character, is honest and trustworthy, and is otherwise suitable to be licensed. 

(2) The superintendent shall issue a resident insurance agent license to a business entity applicant if the superintendent finds all of the following: 

(a) The applicant either is domiciled in Ohio or maintains its principal place of business in Ohio. 

(b) The applicant has designated a licensed insurance agent who will be responsible for the applicant's compliance with the insurance laws of this state. 

(c) The applicant has not committed any act that is a ground for the denial, suspension, or revocation of a license under section 3905.14 of the Revised Code. 

(B)  An insurance agent license issued pursuant to division (A) of this section shall state the licensee's name, the license number, the date of issuance, the date the license expires, the line or lines of authority for which the licensee is qualified, and any other information the superintendent deems necessary. 
 

A licensee may be qualified for any of the following lines of authority: 

(1) Life, which is insurance coverage on human lives, including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income; 

(2) Accident and health, which is insurance coverage for sickness, bodily injury, or accidental death, and may include benefits for disability income; 

(3) Property, which is insurance coverage for the direct or consequential loss or damage to property of any kind; 

(4) Casualty, which is insurance coverage against legal liability, including coverage for death, injury, or disability or damage to real or personal property; 

(5) Variable life and variable annuity products, which is insurance coverage provided under variable life insurance contracts and variable annuities; 

(6) Personal lines, which is property and casualty insurance coverage sold to individuals and families for noncommercial purposes; 

(7) Credit, which is limited line credit insurance; 

(8) Title, which is insurance coverage against loss or damage suffered by reason of liens against, encumbrances upon, defects in, or the unmarketability of, real property; 

(9) Surety bail bond, which is the authority set forth in sections 3905.83 to 3905.95 of the Revised Code; 

(10) Any other line of authority designated by the superintendent. 

(C)  A resident insurance agent license shall be perpetual unless surrendered by the licensee or suspended or revoked by the superintendent. 
 

HISTORY: 149 v S 129. Eff 9-1-2002.
 

Not analogous to former RC § 3905.06, amended and renumbered RC § 3905.29 in 149 v S 129, eff 9-1-2002.

The effective date is set by section 3 of SB 129.