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Sub. H. B. No. 250 As Passed by the HouseAs Passed by the House
129th General Assembly | Regular Session | 2011-2012 |
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Cosponsors:
Representatives Grossman, Stebelton, Beck, Letson, Antonio, Boose, Brenner, Fedor, Foley, Garland, Gerberry, Goyal, Heard, Luckie, Mallory, Phillips, Slaby
A BILL
To amend sections 3905.01, 3905.06, and 3905.40 and
to enact section 3905.062 of the Revised Code to
establish requirements and procedures for issuing
portable electronics insurance.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That sections 3905.01, 3905.06, and 3905.40 be
amended and section 3905.062 of the Revised Code be enacted to
read as follows:
Sec. 3905.01. As used in this chapter:
(A) "Business entity" means a corporation, association,
partnership, limited liability company, limited liability
partnership, or other legal entity.
(B) "Home state" means the state or territory of the United
States, including the District of Columbia, in which an insurance
agent maintains the insurance agent's principal place of residence
or principal place of business and is licensed to act as an
insurance agent.
(C) "Insurance" means any of the lines of authority set forth
in Chapter 1739., 1751., or 1761. or Title XXXIX of the Revised
Code, or as additionally determined by the superintendent of
insurance.
(D) "Insurance agent" or "agent" means any person that, in
order to sell, solicit, or negotiate insurance, is required to be
licensed under the laws of this state, including limited lines
insurance agents and surplus line brokers.
(E) "Insurer" has the same meaning as in section 3901.32 of
the Revised Code.
(F) "License" means the authority issued by the
superintendent to a person to act as an insurance agent for the
lines of authority specified, but that does not create any actual,
apparent, or inherent authority in the person to represent or
commit an insurer.
(G) "Limited line credit insurance" means credit life, credit
disability, credit property, credit unemployment, involuntary
unemployment, mortgage life, mortgage guaranty, mortgage
disability, guaranteed automobile protection insurance, or any
other form of insurance offered in connection with an extension of
credit that is limited to partially or wholly extinguishing that
credit obligation and that is designated by the superintendent as
limited line credit insurance.
(H) "Limited line credit insurance agent" means a person that
sells, solicits, or negotiates one or more forms of limited line
credit insurance to individuals through a master, corporate,
group, or individual policy.
(I) "Limited lines insurance" means those lines of authority
set forth in divisions (B)(7) to (10)(11) of section 3905.06 of
the Revised Code or in rules adopted by the superintendent, or any
lines of authority the superintendent considers necessary to
recognize for purposes of complying with section 3905.072 of the
Revised Code.
(J) "Limited lines insurance agent" means a person authorized
by the superintendent to sell, solicit, or negotiate limited lines
insurance.
(K) "NAIC" means the national association of insurance
commissioners.
(L) "Negotiate" means to confer directly with, or offer
advice directly to, a purchaser or prospective purchaser of a
particular contract of insurance with respect to the substantive
benefits, terms, or conditions of the contract, provided the
person that is conferring or offering advice either sells
insurance or obtains insurance from insurers for purchasers.
(M) "Person" means an individual or a business entity.
(N) "Sell" means to exchange a contract of insurance by any
means, for money or its equivalent, on behalf of an insurer.
(O) "Solicit" means to attempt to sell insurance, or to ask
or urge a person to apply for a particular kind of insurance from
a particular insurer.
(P) "Superintendent" or "superintendent of insurance" means
the superintendent of insurance of this state.
(Q) "Terminate" means to cancel the relationship between an
insurance agent and the insurer or to terminate an insurance
agent's authority to transact insurance.
(R) "Uniform application" means the NAIC uniform application
for resident and nonresident agent licensing, as amended by the
NAIC from time to time.
(S) "Uniform business entity application" means the NAIC
uniform business entity application for resident and nonresident
business entities, as amended by the NAIC from time to time.
Sec. 3905.06. (A)(1) The superintendent of insurance shall
issue a resident insurance agent license to an individual
applicant whose home state is Ohio upon submission of a completed
application and payment of any applicable fee required under this
chapter, 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) Any applicant applying for variable life-variable annuity
line of authority is registered with the financial industry
regulatory authority (FINRA) as a registered representative after
having passed at least one of the following examinations
administered by the FINRA: the series 6 examination, the series 7
examination, the series 63 examination, the series 66 examination,
or any other FINRA examination approved by the superintendent.
(f) If required under section 3905.051 of the Revised Code,
the applicant has consented to a criminal records check and the
results of the applicant's criminal records check are determined
to be satisfactory by the superintendent.
(g) The applicant is a United States citizen or has provided
proof of having legal authorization to work in the United States.
(h) 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 upon submission of a
completed application and payment of any applicable fees required
under this chapter if the superintendent finds all of the
following:
(a) The Except as provided under division (C)(2) of section
3905.062 of the Revised Code, 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.
(d) Any applicant applying for a portable electronics
insurance license line of authority satisfies the requirements of
division (C)(1) of section 3905.062 of the Revised Code.
(e) The applicant has submitted any other documents requested
by the superintendent.
(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) Personal lines, which is property and casualty insurance
coverage sold to individuals and families for noncommercial
purposes;
(6) Variable life and variable annuity products, which is
insurance coverage provided under variable life insurance
contracts and variable annuities;
(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) Portable electronics insurance, which is a limited line
described in section 3905.062 of the Revised Code;
(11) Any other line of authority designated by the
superintendent.
(C)(1) An individual seeking to renew a resident insurance
agent license shall apply biennially for a renewal of the license
on or before the last day of the licensee's birth month. A
business entity seeking to renew a resident insurance agent
license shall apply biennially for a renewal of the license on or
before the date determined by the superintendent. The
superintendent shall send a renewal notice to all licensees at
least one month prior to the renewal date.
Applications shall be submitted to the superintendent on
forms prescribed by the superintendent. Each application shall be
accompanied by a biennial renewal fee. The superintendent also may
require an applicant to submit any document reasonably necessary
to verify the information contained in the renewal application.
(2) To be eligible for renewal, an individual applicant shall
complete the continuing education requirements pursuant to section
3905.481 of the Revised Code prior to the renewal date.
(3) If an applicant submits a completed renewal application,
qualifies for renewal pursuant to divisions (C)(1) and (2) of this
section, and has not committed any act that is a ground for the
refusal to issue, suspension of, or revocation of a license under
section 3905.14 of the Revised Code, the superintendent shall
renew the applicant's resident insurance agent license.
(D) If an individual or business entity does not apply for
the renewal of the individual or business entity's license on or
before the license renewal date specified in division (C)(1) of
this section, the individual or business entity may submit a late
renewal application along with all applicable fees required under
this chapter prior to the first day of the second month following
the license renewal date.
(E) A license issued under this section that is not renewed
on or before its renewal date pursuant to division (C) of this
section or its late renewal date pursuant to division (D) of this
section automatically is suspended for nonrenewal on the first day
of the second month following the renewal date. If a license is
suspended for nonrenewal pursuant to this division, the individual
or business entity is eligible to apply for reinstatement of the
license within the twelve-month period following the date by which
the license should have been renewed by complying with the
reinstatement procedure established by the superintendent and
paying all applicable fees required under this chapter.
(F) A license that is suspended for nonrenewal that is not
reinstated pursuant to division (E) of this section automatically
is canceled unless the superintendent is investigating any
allegations of wrongdoing by the agent or has initiated
proceedings under Chapter 119. of the Revised Code. In that case,
the license automatically is canceled after the completion of the
investigation or proceedings unless the superintendent revokes the
license.
(G) An individual licensed as a resident insurance agent who
is unable to comply with the license renewal procedures
established under this section and who is unable to engage in the
business of insurance due to military service, a long-term medical
disability, or some other extenuating circumstance may request an
extension of the renewal date of the individual's license. To be
eligible for such an extension, the individual shall submit a
written request with supporting documentation to the
superintendent. At the superintendent's discretion, the
superintendent may not consider a written request made after the
renewal date of the license.
Sec. 3905.062. (A) As used in this section:
(1) "Customer" means a person who purchases portable
electronics or services.
(2) "Enrolled customer" means a customer who elects coverage
under a portable electronics insurance policy issued to a vendor
of portable electronics by an insurer.
(3) "Endorsee" means an employee or authorized representative
of a vendor authorized to sell or offer portable electronics
insurance.
(4) "Location" means any physical location in this state or
any web site, call center site, or similar location directed to
residents of this state.
(5) "Portable electronics" means a personal, self-contained,
battery-operated electronic communication, viewing, listening,
recording, gaming, computing, or global positioning device that is
easily carried by an individual, including a cellular or satellite
telephone; pager; personal global positioning satellite unit;
portable computer; portable audio listening, video viewing or
recording device; digital camera; video camcorder; portable gaming
system; docking station; automatic answering device; and any other
similar device, and any accessory related to the use of the
device.
(6) "Portable electronics insurance" means insurance
providing coverage for the repair or replacement of portable
electronics, which may be offered on a month-to-month or other
periodic basis as a group or master commercial inland marine
policy issued to a vendor by an insurer, and may cover portable
electronics against loss, theft, inoperability due to mechanical
failure, malfunction, damage, or other applicable perils.
"Portable electronics insurance" does not mean any of the
following:
(a) A consumer goods service contract governed by section
3905.423 of the Revised Code;
(b) A policy of insurance covering a seller's or a
manufacturer's obligations under a warranty;
(c) A homeowner's, renter's, private passenger automobile,
commercial multi-peril, or similar insurance policy.
(7) "Portable electronics transaction" means the sale or
lease of portable electronics by a vendor to a customer or the
sale of a service related to the use of portable electronics by a
vendor to a customer.
(8) "Supervising entity" means an insurer or a business
entity licensed as an insurance agent under section 3905.06 of the
Revised Code that is appointed by an insurer to supervise the
administration of a portable electronics insurance program.
(9) "Vendor" means a person in the business of engaging in
portable electronics transactions directly or indirectly.
(B)(1) Except as provided in division (B)(2) of this section,
no vendor or vendor's employee shall offer, sell, solicit, or
place portable electronics insurance unless the vendor is licensed
under section 3905.06 or 3905.07 of the Revised Code with a
portable electronics insurance line of authority.
(2) Any vendor offering or selling portable electronics
insurance on or before the effective date of this section that
wishes to continue offering or selling that insurance shall apply
for a license within ninety days after the superintendent of
insurance makes the application available.
(C)(1) The superintendent shall issue a resident business
entity license to a vendor under section 3905.06 of the Revised
Code if the vendor satisfies the requirements of sections 3905.05
and 3905.06 of the Revised Code, except that the application for a
portable electronics insurance license shall satisfy the following
additional requirements:
(a) The application shall include the location of the
vendor's home office.
(b) If the application requires the vendor to designate an
individual or entity as a responsible insurance agent, that agent
shall not be required to be an employee of the applicant and may
be the supervising entity or an individual agent who is an
employee of the supervising entity.
(c) If the vendor derives less than fifty per cent of the
vendor's revenue from the sale of portable electronics insurance,
the application for a portable electronics insurance license may
require the vendor to provide the name, residence address, and
other information required by the superintendent for one employee
or officer of the vendor who is designated by the vendor as the
person responsible for the vendor's compliance with the
requirements of this chapter.
(d) If the vendor derives fifty per cent or more of the
vendor's revenue from the sale of portable electronics insurance,
the application may require the information listed under division
(C)(1)(c) of this section for all owners with at least ten per
cent interest or voting interest, partners, officers, and
directors of the vendor, or members or managers of a vendor that
is a limited liability company.
(2) The superintendent shall issue a nonresident business
entity license to a vendor if the vendor satisfies the
requirements of section 3905.07 of the Revised Code. However, if
the nonresident vendor's home state does not issue a limited lines
license for portable electronics insurance, the nonresident vendor
may apply for a resident license under section 3905.06 of the
Revised Code in the same manner and with the same rights and
privileges as if the vendor were a resident of this state.
(D) The holder of a limited lines license may not sell,
solicit, or negotiate insurance on behalf of any insurer unless
appointed to represent that insurer under section 3905.20 of the
Revised Code.
(E) Division (B)(34) of section 3905.14 of the Revised Code
shall not apply to portable electronics vendors or the vendors'
endorsees.
(F)(1) A vendor may authorize any endorsee of the vendor to
sell or offer portable electronics insurance to a customer at any
location at which the vendor engages in portable electronics
transactions.
(2) An endorsee is not required to be licensed as an
insurance agent under this chapter if the vendor is licensed under
this section and the insurer issuing the portable electronics
insurance either directly supervises or appoints a supervising
entity to supervise the administration of the portable electronics
insurance program including development of a training program for
endorsees in accordance with division (G) of this section.
(3) No endorsee shall do any of the following:
(a) Advertise, represent, or otherwise represent the
endorsee's self as an insurance agent licensed under section
3905.06 of the Revised Code;
(b) Offer, sell, or solicit the purchase of portable
electronics insurance except in conjunction with and incidental to
the sale or lease of portable electronics;
(c) Make any statement or engage in any conduct, express or
implied, that would lead a customer to believe any of the
following:
(i) That the insurance policies offered by the endorsee
provide coverage not already provided by a customer's homeowner's
insurance policy, renter's insurance policy, or by another source
of coverage;
(ii) That the purchase by the customer of portable
electronics insurance is required in order to purchase or lease
portable electronics or services from the portable electronics
vendor;
(iii) That the portable electronics vendor or its endorsees
are qualified to evaluate the adequacy of the customer's existing
insurance coverage.
(G) Each vendor, or the supervising entity to that vendor,
shall provide a training and education program for all endorsees
who sell or offer portable electronics insurance. The program may
be provided as a web-based training module or in any other
electronic or recorded video form. The training and education
program shall meet all of the following minimum standards:
(1) The training shall be delivered to each endorsee of each
vendor who sells or offers portable electronics insurance and the
endorsee shall complete the training;
(2) If the training is conducted in an electronic form, the
supervising entity shall implement a supplemental education
program regarding portable electronics insurance that is conducted
and overseen by employees of the supervising entity who are
licensed as insurance agents under section 3905.06 of the Revised
Code;
(3) The training and education program shall include basic
information about portable electronics insurance and information
concerning all of the following prohibited actions of endorsees:
(a) No endorsee shall advertise, represent, or otherwise
represent the endorsee's self as a licensed insurance agent.
(b) No endorsee shall offer, sell, or solicit the purchase of
portable electronics insurance except in conjunction with and
incidental to the sale or lease of portable electronics.
(c) No endorsee shall make any statement or engage in any
conduct, express or implied, that would lead a customer to believe
any of the following:
(i) That the insurance policies offered by the endorsee
provide coverage not already provided by a customer's homeowner's
insurance policy, renter's insurance policy, or by another source
of coverage;
(ii) That the purchase by the customer of portable
electronics insurance is required in order to purchase or lease
portable electronics or services from the portable electronics
vendor;
(iii) That the portable electronics vendor or its endorsees
are qualified to evaluate the adequacy of the customer's existing
insurance coverage.
(H) A supervising entity appointed to supervise the
administration of a portable electronics insurance program under
division (F)(2) of this section shall maintain a registry of
locations supervised by that entity that are authorized to sell or
solicit portable electronics insurance in this state. The
supervising entity shall make the registry available to the
superintendent upon request by the superintendent if the
superintendent provides ten days' notice to the vendor or
supervising entity.
(I) At every location where a vendor offers portable
electronics insurance to customers, the vendor shall provide
brochures or other written materials to prospective customers that
include all of the following:
(1) A summary of the material terms of the insurance
coverage, including all of the following:
(a) The identity of the insurer;
(b) The identity of the supervising entity;
(c) The amount of any applicable deductible and how it is to
be paid;
(d) Benefits of the coverage;
(e) Key terms and conditions of coverage such as whether
portable electronics may be replaced with a similar make and
model, replaced with a reconditioned device, or repaired with
nonoriginal manufacturer parts or equipment.
(2) A summary of the process for filing a claim, including a
description of how to return portable electronics equipment and
the maximum fee applicable if a customer fails to comply with any
equipment return requirements;
(3) A disclosure that portable electronics insurance may
provide a duplication of coverage already provided by a customer's
homeowner's insurance policy, renter's insurance policy, or other
source of coverage;
(4) A disclosure that the enrollment by the customer in a
portable electronics insurance program is not required to purchase
or lease portable electronics or services;
(5) A disclosure that neither the endorsee nor the vendor is
qualified to evaluate the adequacy of the customer's existing
insurance coverage;
(6) A disclosure that the customer may cancel enrollment for
coverage under a portable electronics insurance policy at any time
and receive a refund of any applicable premium.
(J)(1) The charges for portable electronics insurance may be
billed and collected by the vendor of portable electronics, and
the vendor may receive compensation for performing billing and
collection services, if either of the following conditions are
met:
(a) If the charge to the customer for coverage is not
included in the cost associated with the purchase or lease of
portable electronics or related services, the charge for coverage
is separately itemized on the customer's bill.
(b) If the charge to the customer for coverage is included in
the cost associated with the purchase or lease of portable
electronics or related services, the vendor clearly and
conspicuously discloses to the customer that the charge for
portable electronics insurance coverage is included with the
charge for portable electronics or related services.
(2) All funds received by a vendor from a customer for the
sale of portable electronics insurance shall be considered funds
held in trust by the vendor in a fiduciary capacity for the
benefit of the insurer. Vendors that bill and collect such charges
are not required to maintain those funds in a segregated account
if the vendor is authorized by the insurer to hold those funds in
an alternate manner and the vendor remits the amount of the
charges to the supervising entity within sixty days after
receiving the charges.
(K)(1) Except as otherwise provided in divisions (K)(2) and
(3) of this section, an insurer may terminate or otherwise change
the terms and conditions of a policy of portable electronics
insurance only upon providing the vendor policyholder and enrolled
customers with at least sixty days' prior notice. If the insurer
changes the terms and conditions, the insurer shall promptly
provide the vendor policyholder with a revised policy or
endorsement and each enrolled customer with a revised certificate,
endorsement, updated brochure, or other evidence indicating that a
change in the terms and conditions has occurred and a summary of
material changes.
(2) An insurer may terminate an enrolled customer's
enrollment under a portable electronics insurance policy upon
fifteen days' prior notice for discovery of fraud or material
misrepresentation in obtaining coverage or in the presentation of
a claim under the policy.
(3) An insurer may immediately terminate an enrolled
customer's enrollment under a portable electronics insurance
policy for any of the following reasons:
(a) The enrolled customer fails to pay the required premium;
(b) The enrolled customer ceases to have an active service
plan, if applicable, with the vendor of portable electronics;
(c) The enrolled customer exhausts the aggregate limit of
liability, if any, under the terms of the portable electronics
insurance policy and the insurer sends notice of termination to
the customer within thirty calendar days after exhaustion of the
limit. However, if the insurer does not send the notice within the
thirty-day time frame, enrollment shall continue notwithstanding
the aggregate limit of liability until the insurer sends notice of
termination to the enrolled customer.
(4) If a portable electronics insurance policy is terminated
by a vendor policyholder, the vendor policyholder shall provide
notice to each enrolled customer advising the customer of the
termination of the policy and the effective date of the
termination. The written notice shall be mailed or delivered to
the customer at least thirty days prior to the termination.
(5) Notice required pursuant to this section shall be
provided in writing, either via mail or by electronic means.
(a) If notice is provided via mail, it shall be mailed or
delivered to the vendor at the vendor's mailing address and to all
affected enrolled customers at the last known mailing addresses of
those customers on file with the insurer. The insurer or vendor of
portable electronics shall maintain proof of mailing in a form
authorized or accepted by the United States postal service or
other commercial mail delivery service.
(b) If notice is provided electronically, it shall be
transmitted via facsimile or electronic mail to the vendor at the
vendor's facsimile number or electronic mail address and to all
affected enrolled customers at the last known facsimile numbers or
electronic mail addresses of those customers on file with the
insurer. The insurer or vendor shall maintain proof that the
notice was sent.
(L) An enrolled customer may cancel the enrolled customer's
coverage under a portable electronics insurance policy at any
time. Upon cancellation, the insurer shall refund any applicable
unearned premium.
(M) A license issued pursuant to this section shall authorize
the vendor and its endorsees to engage only in those activities
that are expressly permitted by this section.
(N)(1) If a vendor or a vendor's endorsee violates any
provision of this section, the superintendent may revoke or
suspend the license issued or impose any other sanctions provided
under section 3905.14 of the Revised Code.
(2) If any provision of this section is violated by a vendor
or a vendor's endorsee at a particular location, the
superintendent may issue a cease and desist order to a particular
location, or take any other administrative action authorized in
section 3901.22 and division (D) of section 3905.14 of the Revised
Code.
(3) If any person violates division (B) or (F)(3) of this
section, the superintendent may issue a cease and desist order in
addition to taking any other administrative action provided for in
sections 3901.22 and division (D) of section 3905.14 of the
Revised Code.
(4) If the superintendent determines that a violation of this
section or section 3905.14 of the Revised Code has occurred, the
superintendent may assess a civil penalty in amount not exceeding
twenty-five thousand dollars per violation and an administrative
fee to cover the expenses incurred by the department in the
administrative action, including costs incurred in the
investigation and hearing process.
(O) The superintendent may adopt rules implementing this
section.
Sec. 3905.40. There shall be paid to the superintendent of
insurance the following fees:
(A) Each insurance company doing business in this state shall
pay:
(1) For filing a copy of its charter or deed of settlement,
two hundred fifty dollars;
(2) For filing each statement, one hundred seventy-five
dollars;
(3) For each certificate of authority or license, one hundred
seventy-five, and for each certified copy thereof, five dollars;
(4) For each copy of a paper filed in the superintendent's
office, twenty cents per page;
(5) For issuing certificates of deposits or certified copies
thereof, five dollars for the first certificate or copy and one
dollar for each additional certificate or copy;
(6) For issuing certificates of compliance or certified
copies thereof, sixty dollars;
(7) For affixing the seal of office and certifying documents,
other than those enumerated herein, two dollars;
(8) For each agent appointment and each annual renewal of an
agent appointment, twenty dollars;
(9) For each termination of an agent appointment, five
dollars.
(B) Each domestic life insurance company doing business in
this state shall pay for annual valuation of its policies, one
cent on every one thousand dollars of insurance.
(C) Each applicant for licensure as an insurance agent except
applicants for licensure as surety bail bond agents and, surplus
line brokers, and portable electronics insurance vendors shall pay
ten dollars for each line of authority requested. Fees collected
under this division shall be credited to the department of
insurance operating fund created in section 3901.021 of the
Revised Code.
(D) Each domestic mutual life insurance company shall pay for
verifying that any amendment to its articles of incorporation was
regularly adopted, two hundred fifty dollars with each application
for verification. Any such amendment shall be considered to have
been regularly adopted when approved by the affirmative vote of
two-thirds of the policyholders present in person or by proxy at
any annual meeting of policyholders or at a special meeting of
policyholders called for that purpose.
(E) Each insurance agent doing business in this state shall
pay a biennial license renewal fee of twenty-five dollars, except
the following insurance agents are not required to pay the that
license renewal fee:
(1) Individual resident agents who have met their continuing
education requirements under section 3905.481 of the Revised Code;
(2) Surety bail bond agents;
(3) Surplus line brokers;
(4) Portable electronics insurance vendors.
(F) Each applicant for licensure as a portable electronics
insurance vendor with a portable electronics insurance limited
lines license and each licensed vendor doing business in this
state shall pay the following fees prescribed by the
superintendent:
(1) For vendors engaged in portable electronic transactions
at more than ten locations in this state, an application fee not
to exceed five thousand dollars for an initial license and a
biennial license renewal fee not to exceed two thousand five
hundred dollars for each renewal thereafter;
(2) For vendors engaged in portable electronic transactions
at ten or fewer locations in this state, an application fee not to
exceed three thousand dollars for an initial license and a
biennial license renewal fee not to exceed one thousand dollars
for each renewal thereafter.
(G) All fees collected by the superintendent under this
section except any fees collected under divisions (A)(2), (3), and
(6) of this section shall be credited to the department of
insurance operating fund created under section 3901.021 of the
Revised Code.
Section 2. That existing sections 3905.01, 3905.06, and
3905.40 of the Revised Code are hereby repealed.
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