2006 Ohio Revised Code - 3905.16. Surrender of license; inactive status; suspension, revocation or other disciplinary action.

§ 3905.16. Surrender of license; inactive status; suspension, revocation or other disciplinary action.
 

(A) (1)  Except as provided in division (A)(2) of this section, any person licensed as an agent under this chapter may at any time surrender any or all licenses held by the person. 

(2) No agent shall surrender the agent's licenses if the superintendent of insurance is investigating any allegation of wrongdoing by the agent or has initiated proceedings under Chapter 119. of the Revised Code and notice of an opportunity for a hearing has been issued to the agent, and any attempt to so surrender is invalid. 

(B)  If an agent's license is surrendered, revoked, or suspended, all appointments held by the agent are void. If a new license is issued to that person or if that person's previous license is reinstated, any appointment of the person to represent an insurer must be made in accordance with the requirements of this chapter. 

(C) (1)  Any agent, other than a business entity, who is no longer engaged in the business of insurance in any capacity for which an agent's license is required may apply to the superintendent for inactive status. The superintendent may grant such status only if the superintendent is satisfied that the person is not engaged in and does not intend to engage in any of the activities set forth in section 3905.02 of the Revised Code that requires an agent's license. 

(2) A person who has been granted inactive status is exempt from any continuing education requirements imposed under this chapter. 

(3) The superintendent may adopt rules in accordance with Chapter 119. of the Revised Code to establish procedures for applying for inactive status, criteria used to determine eligibility for such status, and standards and procedures for transferring from inactive to active status. 

(D)  The superintendent may suspend or revoke a license, or take any other disciplinary action authorized by this chapter, regardless of whether the person is appointed or otherwise authorized to represent an insurer or agent. 
 

HISTORY: RC § 3905.01.2, 147 v S 154 (Eff 10-1-98); 148 v H 730 (Eff 10-9-2001); RC § 3905.16, 149 v S 129. Eff 9-1-2002.
 

Not analogous to former RC § 3905.16 (GC § 654-2; 111 v 126; Bureau of Code Revision, 10-1-53), repealed 149 v S 129, § 2, eff 9-1-2002.

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